Stock Market Highlights Today: BSE Sensex ends flat, Nifty50 above 23,200; crude oil prices steady

"Domestic equities ended lower amid weak global cues, as investors turned cautious ahead of a key US inflation print likely to influence the Fed’s policy trajectory. Early gains were reversed due to profit booking, while subdued oil prices, despite fresh geopolitical developments, offered limited support. FMCG stocks outperformed on expectations of price hikes, and private banks advanced following the RBI's easing of FCNR(B) and ECB norms, whereas metals lagged due to softer commodity prices. Although domestic bond yields were lower due to steady foreign interest following the recent policy support to debt markets, slowing mutual fund inflows highlighted emerging pressure on equities amid the ongoing geopolitical uncertainties,” says Vinod Nair, Head of Research, Geojit Investments Limited.

Stock market today: BSE Sensex and Nifty50 gave up their intraday gains to close flat. BSE Sensex ended at 73,983.18, up 64 points or 0.087%. Nifty50 ended in red, closing at 23,214.95, down 27 points or 0.12%.

1. Infosys: Current Price 1,145 | Price Change -35.00 (-) | -2.97% (-)
2. Eternal: Current Price 239.80 | Price Change -5.85 (-) | -2.39% (-)
3. Tata Steel: Current Price 199.31 | Price Change -3.88 (-) | -1.91% (-)
4. Bajaj Finserv: Current Price 1,664 | Price Change -28.90 (-) | -1.71% (-)
5. Titan Company: Current Price 4,042 | Price Change -62.80 (-) | -1.53% (-)
6. Bharti Airtel: Current Price 1,775 | Price Change -23.80 (-) | -1.33% (-)
7. M&M: Current Price 2,953 | Price Change -37.60 (-) | -1.26% (-)
8. HCL Tech: Current Price 1,132 | Price Change -14.21 (-) | -1.24% (-)
9. NTPC: Current Price 351.65 | Price Change -4.00 (-) | -1.13% (-)
10. BEL: Current Price 408.35 | Price Change -3.70 (-) | -0.90% (-)

1. HUL: Current Price 2,170 | Price Change 36.70 (+) | 1.73% (+)
2. Axis Bank: Current Price 1,315 | Price Change 22.10 (+) | 1.71% (+)
3. Kotak Bank: Current Price 388.10 | Price Change 6.41 (+) | 1.68% (+)
4. ICICI Bank: Current Price 1,293 | Price Change 18.30 (+) | 1.44% (+)
5. ITC: Current Price 283.65 | Price Change 3.65 (+) | 1.31% (+)
6. HDFC Bank: Current Price 746.85 | Price Change 8.50 (+) | 1.16% (+)
7. Kwality Wall's: Current Price 33.01 | Price Change 0.20 (+) | 0.61% (+)
8. Power Grid: Current Price 287.20 | Price Change 1.50 (+) | 0.53% (+)
9. L&T: Current Price 3,918 | Price Change 16.90 (+) | 0.44% (+)
10. Sun Pharma: Current Price 1,786 | Price Change 7.41 (+) | 0.42% (+)

Nifty started the session on a positive note and extended its gains during the first half of the day. However, profit booking in the latter half erased all its intraday gains, with the index eventually settling at 23215, down 0.12%.

On the daily chart, Nifty formed a small-bodied candle with a noticeable upper wick, reflecting profit booking at higher levels and the index's inability to sustain above intraday highs. The price action suggests that selling pressure continues to emerge whenever the index approaches higher levels.

On the sectoral front, Nifty FMCG ended the day as the top performing sector followed by Nifty Private Banks. On the other hand, Nifty Media ended the day as the top sectoral loser followed by Nifty Energy. With regards to stocks, Nestle India & Hindustan Unilever ended up as top two gainers while Hindalco and Coal India ended with losses.

In contrast, the broader market lagged behind the benchmark indices. Both the Midcap and Smallcap indices ended over 1% lower. The Midcap index has failed to register a decisive close above its 20-day EMA over the last seven trading sessions, highlighting persistent weakness. Meanwhile, the Smallcap index has been consolidating within a narrow 105-point range since 13th May, indicating a lack of directional momentum.

The market breadth remained weak as the advance-decline ratio was skewed in the favour of bears at day’s close. A total of 386 stocks out of the Nifty 500 universe ended in the red with the movement largely restricted to select large caps while the broader markets lagged behind.

"After forming an inverted hammer candlestick on the daily chart, Nifty witnessed a recovery from lower levels. However, in Wednesday's session, the index faced strong selling pressure near the 23,400–23,450 zone. The broader trend remains weak as Nifty continues to form lower highs and lower lows. Moreover, the index is consistently trading below its 20-day moving average, indicating that the short-term trend remains under pressure, while RSI remains below the 50 mark, reflecting subdued momentum. Buying interest is visible around the 23,000–23,100 zone, whereas overhead resistance is emerging from the declining short-term moving averages. Hence, a range-bound approach is preferred over a directional view. The expected trading range for Nifty is 23,000–23,550, with 23,200 acting as immediate support, 23,000–23,100 as positional support, and 23,450–23,550 as the key resistance zone,” says Vatsal Bhuva, Technical Analyst at LKP Securities.

"Recent FPI selling in the BFSI sector reflects a challenging global macroeconomic environment marked by elevated bond yields, higher crude oil prices, commodity cost pressures, and currency volatility. While these factors may lead to some moderation in earnings expectations, the long-term fundamentals of the Indian economy and financial sector remain strong. The ongoing correction is helping valuations normalize and improving the risk-reward equation for long-term investors. Within BFSI, private sector banks remain well-positioned to benefit from rising credit demand and evolving interest rate dynamics. Given India's diversified market structure and resilient domestic growth drivers, investors should focus on disciplined asset allocation and diversification rather than attempting to time short-term market movements,” says Rahul Singh, CIO - Equities, Tata Asset Management.

Equity mutual fund schemes attracted net inflows of Rs 22,908 crore in May, the lowest monthly figure recorded in the past year, as market volatility kept investor participation subdued.

The latest inflow was 40% lower than the Rs 38,440 crore that flowed into equity funds in April, according to data released by the Association of Mutual Funds in India (Amfi) on Wednesday.

At the industry level, mutual funds registered a net outflow of Rs 64,131 crore during May, a sharp contrast to the net inflow of Rs 3.22 lakh crore seen in April. The reversal was largely driven by withdrawals of Rs 96,948 crore from debt mutual fund schemes.
As a result, the industry's total assets under management (AUM) slipped to Rs 81.6 lakh crore at the end of May from Rs 81.92 lakh crore in the previous month.

Data showed that net investments into equity-oriented schemes have moderated over the past few months. After receiving Rs 40,450 crore in March, inflows stood at Rs 38,440 crore in April before easing to Rs 22,908 crore in May. Equity funds had attracted Rs 25,978 crore in February and Rs 24,028 crore in January.

Stock market today: Sensex and Nifty have shrugged negative global cues to trade in green on Wednesday. At around 11:04 AM, Nifty50 was trading at 23,374.45, up 132 points or 0.57%. BSE Sensex was at 74,415.78, up 497 points or 0.67%.

Yesterday’s hammer pattern lends a positive bias for today, but with 23350 and 23500 standing in the way of a directional upside. That said, inability to float above 23182 will signal weakness, though a drop towards 22962 or 22800 pencilled in earlier, appears less likely right away, says Anand James, Chief Market Strategist, Geojit Investments Limited.

"The market is likely to largely ignore the escalation of the conflict in West Asia as a one off. The softness in crude price indicates that. Despite the escalation, Brent crude continues to trade below $93 level.

A significant trend in global markets is the fatigue that is creeping in AI trade. FIIs appear to be increasingly cautious about the concentration risks associated with the AI-related trade in South Korea and Taiwan. But this has not yet reflected in the FIIs looking at Indian stocks, where they continue to sell. Even though the Indian market has corrected, the fact remains that the valuations are not yet attractive.

Nifty at around 20 times earnings is fairly valued, but not attractively valued. Nifty mid cap index at 29 times earnings and Nifty small cap index at 33 times earnings are expensive, but the superior growth prospects of the broader market is supporting the high valuations. Given the sustained FPI selling, the valuation differential between the large caps and the broader market is likely to sustain in the near-term. The situation will change when FPIs turn buyers in India,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex opened in green on Wednesday despite negative global cues. At 9:16 AM, Nifty50 was trading at 23,312.70, up 71 points or 0.30%. BSE Sensex was at 74,213.50, up 295 points or 0.40%.

"Indian equity markets are expected to open on a cautious negative note, with Gift Nifty trading at 23250, down by 100 points, as Asia-Pacific markets traded lower following weakness in US technology stocks and escalating geopolitical tensions after U.S. strikes on Iran after an Apache helicopter incident
In the previous session, the Nifty 50 rebounded by nearly 0.5 percent after witnessing a sharp decline in the prior session, supported largely by strength in banking stocks. Despite the recovery, the broader trend remains weak as the index continues to trade below all key moving averages. However, the formation of a bullish reversal-type pattern near an important support zone suggests that selling pressure may be easing in the near term.

From a technical standpoint, the Nifty 50 formed a small-bodied bearish candle with a long lower shadow on the daily chart, resembling a Dragonfly Doji-type pattern, which is generally considered a bullish reversal signal. The index remains below all major moving averages, which continue to slope downward, indicating that the broader trend remains under pressure. The RSI improved to 39.58 but remained below its reference line, while the MACD continued to stay below the signal line. However, fading weakness in the histogram indicates a possible improvement in momentum.

As long as the index remains above the immediate support zone of 23,100–23,000, the possibility of a recovery cannot be ruled out. On the upside, the crucial resistance zone remains at 23,500–23,600. A sustained move above this range may trigger fresh buying interest and open the path towards 23,800–24,000 in the coming sessions.

Derivatives data reflects an improvement in sentiment. The Nifty Put-Call Ratio (PCR) jumped to 1.06 on June 9 from 0.78 in the previous session, indicating aggressive put writing and improving bullish sentiment among traders. A PCR above 1 generally reflects a supportive undertone for the market.
The India VIX, which measures expected market volatility, declined sharply by 8.53 percent to 15.57, slipping below all key moving averages. The decline in volatility indicates improving comfort for market participants. However, a sustained move below the 15 mark would be required to strengthen bullish confidence further.

Option chain positioning suggests strong support around the 23,000 strike, where notable put writing activity was visible. On the upside, significant call writing remains concentrated around the 23,500–23,600 zone, making it the immediate hurdle for the index.

In terms of price structure, Nifty is attempting to form a base near the lower end of its recent trading range. While the broader trend remains corrective, the emergence of buying interest at lower levels and improving derivatives indicators suggest that downside risks may be moderating.

Bank Nifty outperformed the benchmark index and rallied 2.09 percent, forming a strong bullish candle on the daily chart. The banking index surpassed the previous week's high and reclaimed its short- and medium-term moving averages with above-average volumes, indicating renewed buying interest.
Immediate support for Bank Nifty is placed around 54,400–53,800, while resistance is seen near 55,500–56,100. A sustained breakout above this resistance zone could pave the way for further upside in the banking index.

Overall, the technical setup indicates a cautious start due to weak global cues, but domestic charts suggest signs of stabilization after recent selling pressure. The broader trend remains range-bound, with 23,100–23,000 acting as crucial support and 23,500–23,600 remaining the key resistance zone. A decisive breakout on either side is likely to determine the next directional move for the market,” says Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.

Index in the daily chart formed a Bullish Marubozu candlestick Pattern with a similar open and low signalling a strong buying demand near lower levels. Index closed above the 20 and 50 day's EMA signalling a positive bias in the index. Index in the daily chart formed a double bottom pattern with identical June and may month's low and has generated a breakout above the trendline resistance joining highs of April and May highlighting a trend reversal and positive bias in near short term. Immediate resistance for index is placed at 55,500-55,600 levels which is neckline for double bottom pattern, breakout and close above these levels will signal further up move towards 56,500 levels. Failing to do so will signal consolidation in the broader range of 55,600-54,000. Immediate support for index is placed around 54000-53800 levels being the current week low.

Indian markets are expected to stabilise in the near term amid talks of a truce between Israel and Iran and easing crude oil prices, which have improved overall market sentiment. However, the absence of a definitive resolution to geopolitical tensions, coupled with concerns over inflation, commodity price volatility and monsoon trends, may keep investors cautious and limit upside. Domestic markets ended higher on Tuesday, aided by gains in banking and financial stocks after the RBI unveiled a concessional forex swap facility aimed at easing overseas borrowings and improving foreign currency liquidity. The move boosted sentiment across the banking space, with the Bank Nifty gaining 2%, while the Indian rupee appreciated against the US dollar. Additionally, a 2% decline in crude oil prices and supportive global cues further aided market sentiment. The Nifty gained 0.5% to close at 23,242, while the Midcap100 and Smallcap100 indices advanced 1.4% and 1.8% respectively. Sectorally, banking stocks outperformed, with the Nifty PSU Bank index rising 3.7% and the Private Bank index gaining 1.8%, supported by broad-based buying interest. Going forward, developments in West Asia, crude oil prices, monsoon progress, IPO activity, foreign fund flows and global macroeconomic cues will be key monitorable, says Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Asian equities moved lower on Wednesday, while crude oil prices advanced as rising tensions in the Middle East rattled investor sentiment and weakened expectations of a near-term resolution to the conflict that has persisted for months. The renewed uncertainty also reignited concerns about higher commodity prices and their impact on inflation.

Market nervousness increased after the United States carried out strikes on Iran following claims by President Donald Trump that Tehran had brought down a US Apache helicopter near the Strait of Hormuz. The developments added to worries surrounding an already fragile ceasefire and heightened geopolitical risks.

MSCI's broad Asia-Pacific index excluding Japan declined 0.6%. Japan's Nikkei dropped 0.9%, while South Korea's technology-heavy Kospi fell 2% amid a turbulent period for AI-linked stocks, which have been facing sustained selling pressure.

Crude oil prices rose around 1% in early trade, recovering further from the seven-week low recorded in the previous session after the latest US military action. Brent crude gained 0.9% to reach $92.29 a barrel, while US West Texas Intermediate (WTI) crude advanced 0.8% to $88.97 a barrel.
"Geopolitics is being treated as a headline risk, not a macro shock for now," said Charu Chanana, Chief Investment Strategist at Saxo in Singapore.

She noted that oil remaining near the $90 mark despite fresh developments involving Iran suggests traders are not yet factoring in a prolonged supply disruption. However, she added that markets could react much more sharply if energy infrastructure, shipping lanes or direct US involvement were to escalate further.

US equities closed lower overnight after an early recovery in technology shares lost momentum. Investor sentiment was weighed down by concerns over AI-related valuations, escalating tensions in the Middle East and growing expectations of higher interest rates, prompting a move away from riskier assets.

Foreign investors have poured close to Rs 10,000 crore into Indian bonds over the last four trading sessions after the government announced a complete tax exemption on gains from qualifying debt investments and the Reserve Bank of India broadened the range of securities available for investment, according to CCIL data. The inflows have coincided with a decline in bond yields.

The renewed interest marks a sharp shift from the trend seen in recent months, when overseas investors were steadily reducing their exposure to both Indian debt and equity markets. Since the outbreak of the US-Israel conflict involving Iran, foreign portfolio investors had been net sellers of more than Rs 10,119 crore worth of debt securities. Daily outflows averaged around Rs 1,000 crore, interrupted only occasionally by brief periods of buying.

Recent measures introduced by the government and the RBI appear to have altered investor sentiment, encouraging overseas funds to return to India's bond market and increasing confidence in domestic fixed-income assets.

Nifty snapped its two sessions decline as it traded in a range with positive bias and closed higher by 0.5%. The positive momentum was lead by the banking stocks as Bank Nifty closed the session higher by more than 2%. Nifty in the daily chart formed a bullish hammer like candle with a small real body and a long lower shadow highlighting signs of reversal and buying demand emerging from the key support area of 23,000-23,200.

Going ahead, Index holding above Monday’s low (23,070) will keep the pullback trend intact and open gradual upside towards 23,500-23,550 levels in the coming sessions being the confluence of the 20 days EMA and the last Tuesday high. Nifty has key support at 23,000-23,100 being the confluence of the 61.8% retracement of the previous pullback (22,182-24,601) and lower band of the falling channel.