Gift Nifty Points to Muted-to-Positive Nifty Open for Markets on Tuesday

Mumbai, June 30: India equity indexes may open in positive territory on Tuesday, extending the small recovery seen in Gift Nifty futures during the early part of the session. Gains were limited as global markets continued to trade mixed overnight but improving crude oil prices pared some of their gains after dipping to multi-month highs during the Asian session. Oil prices slid as investors weighed possible talks between the US and Iran in Doha this week, with missile strikes launched by both sides over the weekend testing a ceasefire that took effect on June 17. 

Lower crude prices typically reduce input cost pressures for India as one of the world’s largest crude importers and may help support local sentiment somewhat during early trades on Tuesday. US markets finished decisively higher on Monday night with all major indices closing in positive territory. That typically leads to Indian markets opening higher as well, however several Asian indices were trading lower this morning limiting those gains. Given softer oil prices, a positive Wall Street close and mixed Asian session on Tuesday, markets are more likely to see a muted/range-bound open than a sharply positive one as investors await additional cues from the Middle East. 

Gift Nifty 

Gift Nifty futures for the expiry 28- July-2026 traded at 24,017.00 up 35.00 or 0.15% as of 07:53 AM 30 Jun 20 26. Indian markets are likely to open with a slight positive bias 

Iran War 

Iranian and US teams were scheduled to arrive in Doha this week to hold talks, however Iran stated Monday that no meeting has been scheduled between the two nations. Missile strikes from both the US and Iran over the weekend highlighted just how tenuous the interim ceasefire that went into effect on June 17 has been, as their four month-old conflict was put on pause. Iran’s Foreign Ministry spokesperson Saeed Khatibzadeh said Monday that Tehran will not hold negotiation meetings with American teams in the coming days. Iran however said they were ready for diplomacy as the US sent a delegation led by Jared Kushner and Steve Witkoff to Doha to meet with Iran. The mixed signals sent by Washington and Tehran in regard to whether there will even be talks at all shows just how fragile this ceasefire may still be. Disruptions to oil shipments through the Strait of Hormuz has been a continuing concern as hostilities continue between Iran and the US. 

Asian Markets on Tuesday Morning 

Asian markets traded mixed to weaker in Tuesday’s morning session. Hong Kong’s Hang Seng index led losses, down 251.62 points or 1.09 per cent at 22,775.06. Indonesian’s Jakarta Composite dropped sharply lower while Pakistan’s KSE 100 index fell modestly. Japan’s Nikkei 225 index traded higher while Vietnam’s HNX 30 index also moved upwards during early trades. China’s Shanghai Composite shed some ground but hung close to flat. 

US Markets on Monday 

The US markets finished positive across the board on Monday. The Nasdaq Composite was the best performer climbing 2.07% higher on the day. The S&P 500 rose 1.18% while the Dow Jones Industrial Average and NYSE Composite eked out gains. Canada’s S&P/TSX Composite was the lone loser among the indexes monitored, dipping 0.45%. 

Oil Prices Slip 

Oil prices fell on Tuesday after climbing to their highest levels since late April earlier in the session. Traders continue to keep a close eye on talks between the US and Iran officials in Doha later this week after both sides launched missile attacks over the weekend that broke the unofficial ceasefire put in place on June 17 that stopped their intensifying conflict which began four months ago. Brent August crude futures, which expire on Tuesday slumped 1.03% or 75 cents to trade at $72.40 a barrel while the more actively traded September contract slipped 0.54% or 40 cents to $73.51 a barrel. US West Texas Intermediate crude declined 0.66% or 47 cents to $70.32 a barrel. 

Sensex and Nifty Fall to End Monday’s Trading 

Indian benchmarks ended the day lower snapping their two-session rally as weakness in auto, banking and IT sectors outweighed gains in pharma and metal stocks. Nifty ended below 24,000. The Sensex dropped 372.10 points or 0.48% to close at 76,728.37, while the Nifty 50 settled at 23,946.25, shedding 109.75 points or 0.46%. On the NSE, 2,471 stocks declined, 1,681 advanced and 202 finished unchanged. 

Source

•  nseindia.com