Pre-market Update(June 24): D-Street eyes upbeat start as GIFT Nifty holds 25,289; earnings, expiry, PMI data in play

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Indian equity benchmarks are set for a higher start on Thursday, buoyed by positive global sentiment and a flurry of domestic triggers, including Q1 earnings, July manufacturing PMI flash data, F&O expiry, and institutional activity.

At 8:20 AM, GIFT Nifty futures were trading 37 points lower at 25,289, hinting at a firm opening for the Sensex and Nifty amid a busy session ahead.

Global cues upbeat

Asian markets traded higher early Thursday, lifted by improved trade sentiment between the US and Japan and progress in EU talks. The Topix index hit a record high with a 1.2 per cent gain, and the Nikkei 225 rose 1.09 per cent. The Kospi advanced 1.6 per cent, while the ASX 200 remained flat.

Overnight on Wall Street, the S&P 500 closed at a record for the third straight session, up 0.78 per cent at 6,358.91. The Dow Jones surged 507.85 points to 45,010.29, while the Nasdaq finished above 21,000 for the first time.

Investors globally will also track the ECB’s rate decision, US jobless claims, and flash PMI readings from Japan, the UK, and the Eurozone.

Q1 results in focus

Markets will react to Q1 earnings from heavyweights like Infosys, Dr Reddy’s, and Tata Consumer Products reported post-market on Wednesday.

A host of key names will report today, including:

Bajaj Finance, Nestle India, SBI Life, CG Power, REC, Canara Bank, Indian Bank, Supreme Industries, Phoenix Mills, Mphasis, Hexaware, ACC, and many more.

Investors will watch for margin trends and management commentary amid rising input costs and global uncertainty.

Institutional flows

On July 23, FIIs net sold equities worth Rs 2,422.4 crore, while DIIs continued their buying streak, net purchasing Rs 2,944.9 crore worth of shares, according to provisional exchange data.

Primary market buzz

Brigade Hotel Ventures IPO opens today. Ongoing issues include Indiqube Space, TSC India, and Monarch Surveyors, which enter Day 2 and Day 3 of subscription, respectively.

Meanwhile, allotments are expected today for Swastika Castal, Savy Infra, and Property Share Investment Trust REIT (SM REIT).

Commodities check

Gold prices slipped 1.3 per cent to $3,387.67/oz, pressured by easing trade tensions and reduced demand for safe havens.

Crude oil extended its losing streak, with Brent settling at $68.51 and WTI at $65.25, weighed by EU–US tariff dynamics and upcoming US inventory data.