gift nifty futures on june 18 trade 30 pts low in pre market setup dstreet likely to open flat amid fed tension

Equity markets are expected to open lower on Wednesday, tracking weakness in global markets and subdued cues from GIFT Nifty. Ongoing geopolitical tensions between Israel and Iran, coupled with caution ahead of the U.S. Federal Reserve’s policy decision, are likely to keep investors on edge.

GIFT Nifty on the NSE IX was down 30 points or 0.12 per cent at 24,833 as of 7:10 a.m., suggesting a tepid start for benchmark indices. On Tuesday, the Nifty50 had ended 93 points lower at 24,853.40, while the Sensex shed 213 points to close at 81,583.30.

Tech view

With conflicting technical signals, market participants expect the Nifty to remain within a narrow range in the near term. Analysts suggest that a fall below 24,850 could intensify bearish sentiment, while 25,000 remains a strong resistance zone.

India VIX a key measure of market volatility—dipped 2.9 per cent to settle at 14.40 levels, indicating slightly subdued fear levels.

Global Markets 

US indices closed in the red on Tuesday as investor worries deepened over the intensifying Middle East conflict. The Dow fell 0.7 per cent, the S&P 500 dropped 0.8 per cent, and the Nasdaq declined 0.9 per cent. Reports suggest the U.S. military has moved more fighter jets to the region amid fears of further escalation.

Asian markets follow Wall Street lower

Most Asian markets traded weak in early hours, mirroring overnight losses in US stocks. Hang Seng futures fell 0.7 per cent, Australia’s S&P/ASX 200 declined 0.1 per cent, and Euro Stoxx 50 futures were down 0.9 per cent. Japan’s Topix remained flat.

Gold holds steady, oil continues to rise

Gold prices stayed firm, supported by safe-haven demand from geopolitical concerns. However, gains were capped due to a stronger dollar ahead of the Fed decision. Oil prices edged higher after gaining over 4 per cent on Tuesday, amid fears of supply disruptions.

F&O ban list

The following stocks are in the F&O ban for today:

• IREDA

• CDSL

• ABFRL

• Chambal Fertilisers

• Hudco

• RBL Bank

• Titagarh

• Birlasoft

Rupee under pressure

The Indian rupee weakened by 30 paise to settle at 86.34 against the U.S. dollar, dragged down by elevated crude oil prices and the dollar’s strength.

FII-DII flow

Foreign institutional investors (FIIs) remained net sellers on Tuesday, offloading shares worth Rs 1,483 crore. On the other hand, domestic institutional investors (DIIs) net bought equities worth Rs 8,207 crore.

Derivatives update

FII positions in index futures showed signs of softening bearish bets, with net shorts easing from Rs 1.01 lakh crore on Monday to Rs 99,483 crore on Tuesday.

With the Fed's rate verdict expected later tonight and the Israel-Iran conflict intensifying, traders should brace for volatility through the day.