24/06/26, RBI’s recent announcements aimed at attracting NRI dollar deposits have yet to demonstrate their effectiveness. The full impact of these measures will only be visible from RBI’s June 2026 data onwards. The timing of the RBI’s program allowing banks to offer higher rates on FCNR(B) deposits is crucial.

According to RBI year-end data, FCNR(B) outstanding balances edged up from $32,809 million at end-FY2024-25 to $33,756 million at end-FY2025-26, a rise of $947 million or 2.89 per cent. Although year-end FCNR(B) balances increased slightly from $32.8 billion to $33.7 billion, the April 2026 data is a matter of concern. The April 2026 FCNR(B) inflows decreased by 39% to $166 million from $272 million in April 2025.

Early in the year, it became clear that the Indian rupee was losing ground to the US dollar, and an RBI dollar scheme akin to the one from 2013 was anticipated. That may have led NRIs to restrict their flows into FCNR deposits. The dip in inflows is likely to continue in the May data when it gets released next month. The April data predates all of this, and the impact will reflect from June 2026 onwards.

The RBI’s June 2026 Bulletin indicates that NRI deposit flows remained stable year-on-year, rising only marginally from $164,677 million to $165,654 million by March 2026. However, the April to March 2025–2026 inflow data show a total of $14,413 million (P).

Total NRI deposit

India’s non-resident deposit flows held nearly flat in April 2026, but the headline stability conceals a sharp divergence across the three main NRI deposit schemes. Total NRI deposit flows stood at $764 million in April 2026, up just 1.73 per cent from $751 million in April 2025. Beneath that near-stillness, the three categories moved in opposite directions.

Fresh inflows into Foreign Currency Non-Resident (Bank) deposits fell sharply, declining 38.97 per cent year-on-year to $166 million in April 2026 from $272 million in April 2025.

The weakness reflects a structural problem that persisted through much of FY2025-26: with US dollar rates holding above 4 per cent, Indian banks were unable to offer competitive FCNR(B) rates after absorbing hedging costs estimated at around 3.5 per cent.

Despite weak inflows, outstanding FCNR(B) balances rose from $33,081 million in April 2025 to $33,922 million in April 2026, an increase of $841 million, likely reflecting exchange-rate valuation effects and existing deposit rollovers rather than fresh mobilisation.

The full trajectory is visible in the outstanding data: FCNR(B) balances were as low as $26,216 million in April 2024 before climbing sharply to $32,809 million by March 2025, a build-up driven by the large FCNR(B) mobilisation of FY25. The FY26 inflow deceleration has since moderated further growth.

RBI Measures

The RBI moved aggressively to reverse this in June 2026. On June 8, it opened a special swap facility under which it absorbs the entire hedging cost on fresh three-to-five-year FCNR(B) deposits mobilised until September 30, 2026. On June 17, it lifted the interest rate ceiling on such deposits entirely, allowing banks to price freely.

Banks responded quickly. HDFC Bank, Bank of Baroda, PNB, Yes Bank, ICICI Bank, Axis Bank, and AU Small Finance Bank, amongst many others, raised their USD FCNR(B) rate to as high as 7.10 per cent.

NRE and NRO Deposits

NRE deposit flows were the clear outperformer in April 2026, rising 40.43 per cent year-on-year to $528 million from $376 million in April 2025. However, outstanding NRE balances actually declined from $101,112 million in April 2025 to $98,474 million in April 2026, a fall of $2,638 million, or 2.61 per cent year-on-year.

Non-Resident Ordinary deposit flows fell 31.07 per cent year-on-year to $71 million in April 2026 from $103 million in April 2025. NRO accounts are used to manage income earned within India — rent, dividends, pension, interest — and are not fully repatriable, making them less sensitive to global rate differentials and more dependent on domestic income events.

Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. Data and estimates cited are sourced from publicly available reports and expert statements. Interest rates and scheme terms are subject to change as per RBI guidelines. Readers are advised to consult a qualified financial advisor before making any investment decisions.

24/06/26, PostMarket REPORT

The benchmark equity indices Sensex and Nifty sharply rebounded on Wednesday after suffering sharp losses in the previous session, supported by lower crude oil prices and buying in blue-chip stocks, particularly in the IT and private bank pack.

The Sensex settled 790.54 points or 1.04 higher at 76,991.22, and the Nifty was up 197.55 points or 0.83 percent at 24,021.65.

 On Tuesday, the Sensex had tanked 893.39 points, or 1.16 percent to settle at 76,200.68, while the Nifty dropped 278.80 points, or 1.16 percent to close at 23,824.10.

Among sectoral indices, all Nifty gauges traded higher except auto, metal and consumer durables.

Key factors behind market rise

1) Lower crude prices: Brent crude, the global oil benchmark, declined 1.02 percent to USD 76.29 per barrel, hovering near four-month lows amid signs that more oil tankers stranded in the Gulf since the start of the Iran war are set to move out of the Strait of Hormuz.

"The crash in Brent crude to below USD 77 has removed the macro headwinds for India. Rupee has stabilised. FII selling appears to have tapered off. This is positive for the market," VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said.

2) FII buying: Foreign Institutional Investors (FIIs) bought equities worth Rs 17.86 crore on Tuesday, lending support to market sentiment.

3) India-US trade deal hopes: 

4) Firm Asian markets: In Asia, South Korea's Kospi and Hong Kong's Hang Seng Index were trading higher, providing positive cues to domestic equities.

5) Buying in IT shares: Buying in information technology stocks supported the market. The NiftyIT index rose nearly 1%, outperforming the broader Nifty50's 0.3% gain. Among the gainers, Tech Mahindra climbed 2.6 percent, while Infosys gained 1.3 percent and Tata Consultancy Services advanced 0.6 percent.

6) Buying in private banks: Heavyweight bank shares like ICICI Bank and HDFC Bank led the gains in the benchmarks with Bank Nifty surging over 1.5%.

7) India Vix declines: The fear gauge or the volatility index declined 2.65 percent to 13.57 level, indicating reduced market uncertainity.

Technical Outlook

Rajesh Palviya, Head of Research at Axis Direct, said "the undertone remains cautious as long as the Nifty trades below 23,950. A sustained move above this level could trigger a relief rally towards 24,100–24,150, while immediate support is placed at 23,780. A decisive breach below this support may accelerate profit booking towards the 23,600 zone. Although oversold conditions after the expiry session could support a near-term pullback, investors should remain watchful of global technology stocks, which are likely to continue dictating market sentiment in the near term."

Disclaimer: The views and investment tips expressed by investment experts are their own and not of us. We advise readers and investors  to check with certified experts before taking any investment decisions.

24/06/26, Gift Nifty at 23,865 provides little cues for market direction. Ahead of holiday (Muharram on Friday) and NSE monthly F&O settlement (on Tuesday), traders will go light on their position, analysts said.Domestic markets are likely to open on flat to negative note on Wednesday as global stocks remain under pressure. Gift Nifty at 23,865 provides little cues for market direction. Ahead of holiday (Muharram on Friday) and NSE monthly F&O settlement (on Tuesday), traders will go light on their position, analysts said.

SENSEX Daily

 NIFTY 50

24/06/26, Stocks for Today

The Government of India is set to sell a 2 percent stake in IRFC, including a greenshoe option of an additional 1 percent stake, via offer-for-sale on June 24-25.

The floor price has been fixed at Rs 91 per share.

Honass Consumer 

The beauty and personal care company announced the acquisition of a 58 percent majority stake in Fluence Pharma, a science-backed nutraceuticals company. The strategic acquisition marks Honasa's entry into the high-growth nutraceuticals segment.

 Rashi Peripherals 

Rashi Peripherals has entered into definitive agreements to acquire a 67 percent stake in VDA Infosolutions for Rs 368.50 crore, subject to the fulfilment of customary closing conditions.

The remaining 33 percent stake will be acquired in three equal annual tranches of 11 percent each in August 2027, August 2028, and August 2029, respectively.

The acquisition of the full 100 percent stake is expected to be completed by August 2029.

 City Union Bank

The board has approved August 14 as the date for the Annual General Meeting and fixed July 31 as the record date for the dividend.

Further, the board has also approved raising up to Rs 500 crore through the QIP route.

 Yes Bank

The Board of Directors will meet on June 29 to consider raising funds through the issuance of equity and debt securities.

SIS

The Board of Directors of the company will meet on June 29 to consider a proposal for the buyback of equity shares.

Imagicaaworld Entertainment 

Considering the rainfall in the catchment area and the resources currently available, the company is ready to recommence operations at Imagicaa Water Park in Khopoli, Maharashtra, with effect from June 26.

The company estimated the revenue loss at approximately Rs 50 lakh and said it had taken steps for water conservation and to ensure business continuity in light of the disruption.

Bulk and Block Deals

Vedanta 

Promoter entity Twin Star Holdings has offloaded 6.5 crore shares, representing a 1.66 percent stake in Vedanta, at Rs 291.36 per share, amounting to Rs 1,895.96 

croreDelhivery

Nexus Ventures III sold 43.23 lakh shares, representing a 0.57 percent stake in Delhivery, for Rs 207.97 crore. The shares were sold at Rs 481 apiece.

During the current quarter, Nexus Venture Partners also sold 1.04 crore shares, representing a 1.39 percent stake in the company, on April 8, 2026. With this, the total stake sold by Nexus during the current quarter stood at 1.97 percent, against its shareholding of 4.48 percent as of March 2026.

 Sky Hold and Diamonds

Vikas Navratanmal Ganna and Jinesh Navratanmal Ganna sold a combined 1.48 percent stake in Sky Gold and Diamonds.

Vikas Navratanmal Ganna sold 11.53 lakh shares at Rs 490.41 per share, valued at Rs 56.56 crore, while Jinesh Navratanmal Ganna offloaded 11.41 lakh shares worth Rs 56.04 crore at Rs 491.13 per share. Both held a 1.98 percent stake each (around 30.7 lakh shares) in the company as of March 2026.

DP Wires

Bollywood star Amitabh Harivansh Rai Bachchan was a net seller of 82,056 shares worth Rs 1.64 crore in steel wires and plastic pipes manufacturer DP Wires.

According to the bulk deals data, Amitabh bought 41,566 shares at Rs 199.90 per share, while he sold 1.23 lakh shares at Rs 200.84 per share. The March 2026 shareholding pattern showed that the film star held a 2.11 percent stake (3.27 lakh shares) in DP Wires.

Craftsman Automation 

Promoter Srinivasan Ravi sold 5.25 lakh shares, representing a 2 percent stake in the paid-up equity capital of Craftsman Automation, for Rs 485.62 crore. He held a 40.15 percent stake in the company out of the promoters' total shareholding of 44.42 percent as of March 2026.

However, HDFC Mutual Fund, Invesco Mutual Fund, Franklin Templeton Mutual Fund, Merrill Lynch Investment Managers, Abu Dhabi Investment, Axis Mutual Fund, Edelweiss Mutual Fund, Tata AIA Life Insurance Company, and HDFC Standard Life Insurance Company were among the buyers of the 2 percent stake sold by the promoter.

The transaction was executed at a price of Rs 9,250 per share.

Source: Network18 

24/06/26, VEDANTA

Vedanta Resources Ltd. plans to sell an 11.9% stake in a US-based unit to raise about $372 million to develop its Zambian copper mining complex.

The division, CopperTech Metals Inc., said Tuesday that it intends to put about 23.5 million shares up for sale after applying earlier this month to list in New York. The net proceeds could rise to $429 million if underwriters exercise an option to purchase additional stock.

CopperTech was established last year as Vedanta pivoted to the US to mobilize funds for the group's Konkola Copper Mines business. Vedanta, owned by Indian billionaire Anil Agarwal, regained control of its 80% stake in KCM in 2024 after resolving a long-running dispute with the Zambian government.

The offering, if it goes ahead, will reduce Vedanta's interest in CopperTech to at least 88.1%. The proceeds will go toward completing the underground Konkola Deep operation, which will be crucial to reaching the company's copper production target of 270,000 tons a year.

Mining executives are increasingly focused on copper amid expectations that supply will struggle to keep pace with demand from electric vehicles, renewable energy, power grids and AI infrastructure.

Vedanta's Zambian mines are “one of the few operations positioned to help meet US demand for copper,” CopperTech said in its prospectus. The company said it is positioned “to capitalize on what we believe will be an unprecedented copper demand cycle.”

Zambia is Africa's second-biggest supplier of the metal, producing a record 890,000 tons last year, and relies on copper for most of its export earnings. Mines owned by First Quantum Minerals Ltd. and Barrick Mining Corp. accounted for 60% of output in 2025.

CopperTech is inviting potential shareholders to invest in a major mining complex in Zambia's Copperbelt Province that comprises open pits, underground shafts, concentrators, a smelter, and a refinery. Vedanta first acquired the assets in 2004, several years after they were privatized. A state-controlled investment firm, which retains a 20% stake in KCM, owned and ran the operations from 2019 to 2024.

Following operating losses in recent fiscal years, there is currently “substantial doubt” about KCM's “ability to continue as a going concern,” CopperTech said on Tuesday. However, Vedanta has undertaken to provide the Zambian firm with necessary financial support for at least 12 months, it said – anticipating that the mines will be able to generate positive cash flows “over the long term.”

CopperTech said it may raise additional capital or take on additional debt to meet Vedanta's $1 billion loan commitment to KCM, which has already been partially funded.

The company wants to spend $2.7 billion by early next decade as it aims to more than double copper output, with a third of that volume due to come from smelting metal supplied from other mines.

Report by Bloomberg 

Source: Network18 

23/06/26, PostMarket REPORT

Investors turned cautious after the recent rally, while attention shifted to the progress of the monsoon as a key near-term trigger for market directionDomestic benchmark indices extended losses in afternoon trade on Tuesday after flat opening, with IT and metal stocks dragging the market despite easing geopolitical tensions in West Asia. Investors turned cautious after the recent rally, while attention shifted to the progress of the monsoon as a key near-term trigger for market direction.At 12.36 pm, the BSE Sensex was down 523.80 points, or 0.68 per cent, at 76,570.27 after touching an intraday low of 76,501.52. The NSE Nifty 50 declined 164.15 points, or 0.68 per cent, to 23,938.75, slipping below the psychologically important 24,000 mark.

BSE Sensex dragged 592.55 points from the previous close, while Nifty 50 slumped 185.6 points.

The weakness was visible across the broader market as well. The Nifty Midcap 100 index fell 0.83 per cent, while the Nifty Smallcap 100 index declined 0.63 per cent. Market volatility rose sharply, with the India VIX surging nearly 8 per cent to approach the 14 mark.IT, metal stocks lead declineSelling pressure was concentrated in information technology and metal counters. The Nifty IT index fell ahead of Infosys’ annual general meeting later in the day. Among frontline IT names, TCS, Infosys, Wipro and Mphasis declined between 2 per cent and 3 per cent, while Oracle Financial Services Software was the lone gainer in the sector, rising around 1 per cent.Metal stocks also witnessed sharp profit-booking. Vedanta and National Aluminium Company slumped up to 8 per cent, leading losses in the Nifty Metal index, which emerged as one of the worst-performing sectoral gauges.

Sectorally, all major indices traded in the red except healthcare and pharmaceuticals. The Nifty Pharma index outperformed the broader market, supported by gains in Cipla, Sun Pharma and Dr Reddy’s Laboratories.Nifty 50 movers todayAmong Nifty 50 constituents, Cipla, Sun Pharma, Dr Reddy’s Laboratories, Shriram Finance and Asian Paints were the top gainers, while TCS, Infosys, Hindalco Industries, Wipro and Tata Steel were the biggest drags.Market breadth remained decisively negative. Of the 3,254 stocks traded on the NSE, 990 advanced, 2,173 declined and 91 remained unchanged. As many as 132 stocks touched their 52-week highs, while 11 hit fresh 52-week lows. Additionally, 99 stocks were locked in the upper circuit and 46 hit the lower circuit.

Within the midcap space, Info Edge (Naukri), Laurus Labs, Aurobindo Pharma, Alkem Laboratories and SRF gained between 2 per cent and 4 per cent. On the losing side, National Aluminium Company, Voltas, Ashok Leyland and NMDC declined 3-6 per cent.Among smallcaps, Cohance Lifesciences, PPL Pharma, Neuland Laboratories and Meesho rose 5-15 per cent, while Triveni Turbine, Netweb Technologies, Aster DM Healthcare and Pine Labs fell 2-4 per cent.Market participants said the correction reflects a combination of profit-booking in rate-sensitive and cyclical sectors following the recent rebound in equities. With concerns around West Asia easing for now, investors are increasingly focusing on domestic factors, particularly monsoon progress and its implications for rural demand, inflation and economic growth in the coming months.

Source: BusinessLine

23/06/26, IDBI FIRST BANK, Nifty 50, Sensex

 NIFTY 50

IDFC FIRST BANK

23/06/26, FinancialMarket Today

 Holiday curtailed week to see muted participationIndian markets are likely to open on flat-to-negative note on Tuesday amid volatile global cues. Analysts expect consolidation phase to continue. Gift Nifty at 24,125 indicates cautious start. Analysts expect also profit taking and low participation of ahead of holiday. Market is closed on Friday due to Muharram.However, FPI buying will stabilise markets, they said.

Ponmudi R, CEO of Enrich Money, said: Comments from the US Vice President that there is a “good foundation” for finalising the proposed agreement (between the US and Iran) have reinforced optimism that talks remain on a constructive path, bolstering hopes of a lasting resolution in the Middle Eas

Investor attention will also be focused on the ongoing India–U.S. trade negotiations, with India seeking tariff concessions as part of efforts to finalise a bilateral trade agreement, he said adding that the U.S. Trade Representative Jamieson Greer is expected to visit India this week for discussions with Commerce Minister Piyush Goyal, with any progress likely to be viewed positively by markets given its potential to strengthen trade ties and support long-term economic growth.Meanwhile, equities across Asia Pacific region are mixed in early deal on Tuesday. Rajesh Palviya, Head of Research, Axis Direct, said Asian markets traded mixed this morning, reflecting the cautious global risk sentiment, while Brent crude remained below the $80 mark, a supportive factor for India’s macro outlook through lower inflationary pressures. GIFT Nifty indicates a mildly positive start for domestic equities.India VIX remained stable at 12.84, continuing to reflect a low-volatility environment that has supported the recent uptrend, said Om Mehra, Technical Research Analyst, SAMCO Securities.

Source:BusinessLine

23/06/26, weak corporate governance

Repeated guidance cuts, disclosure lapses and weak cash conversion undermined investor confidence despite 33% revenue growth and an ₹8,000 crore order bookGovernance concerns need not involve fraud to erase billions in market value. Kaynes Technology's nearly 60 per cent decline from its October 2025 peak shows how repeated guidance revisions, disclosure lapses, weak cash conversion and stretched working capital can undermine investor confidence despite strong revenue growth, according to a report by corporate governance advisory firm InGovern.Kaynes has undergone one of the sharpest valuation resets in the Indian EMS space due to “a combination of guidance revisions, elevated working-capital intensity, cash-flow concerns and heightened scrutiny of certain financial disclosures.” According to the report, investor focus gradually shifted from the company's growth prospects to “cash conversion, execution discipline, disclosure quality and governance oversight.”

During FY26, Kaynes reported revenue of ₹3,626 crore, up 33 per cent year-on-year, EBITDA of ₹574 crore with a margin of 15.8 per cent and profit after tax of ₹364 crore. The company also maintained an order book of over ₹8,000 crore.However, the report said that the company materially missed its original FY26 revenue guidance of ₹4,500 crore after successive downward revisions during the year. Working capital stood at 125 days at the end of FY26, against the company's earlier guidance of 85 days.“A key area of investor focus was the gap between the original FY26 revenue guidance of ₹4,500 crore and the reported FY26 revenue of ₹3,626 crore,” the report said.Multiple downward revisions over the year indicate that management's forward visibility was weak, or its guidance discipline was too aggressive for the underlying cash and execution reality.Accounting ScrutinyThe report also revisited the disclosure-related developments that surfaced in December 2025 following observations made by Kotak Institutional Equities on related-party transaction disclosures, inter-company balances and accounting treatment for acquisitions and intangible assets.Kaynes had clarified that certain transactions were inadvertently omitted from standalone financial statement disclosures but were eliminated appropriately during consolidation and that the issue related to disclosure and presentation rather than recognition of the underlying transactions.From a governance perspective, InGovern said the episode showed “the importance of maintaining consistency and completeness across statutory filings”, adding that it increased stakeholder focus on financial reporting controls and review processes.The developments lead to CRISIL placing certain bank facilities under “Rating Watch with Developing Implications”, citing accounting and reporting-related observations along with working-capital intensity, while CARE Ratings reaffirmed its ratings with a stable outlook, recognising the company's operating capabilities and market position.Despite the governance concerns, Kaynes continues to retain attractive long-term positioning through its differentiated EMS and OSAT capabilities and its growing presence in industrial end markets, the report said.Going forward, it said rebuilding investor confidence will depend on demonstrable improvement in working-capital efficiency, cash-flow generation, disclosure controls, predictable execution and transparent communication.

Source: BusinessLine

22/06/26, not able finish post on this blog... may be some technical difficulties ...But posted on Facebook

 Meta Platforms has appointed Kunal Shah, founder of Indian fintech startup Cred, as chief executive of WhatsApp, succeeding Will Cathcart, the outgoing head of the messaging platform, the companies said on June 22. As part of the move, Meta will invest about $900 million (Rs 8,550 crore) in Cred at a valuation of $4.5 billion.

Cred, the Indian fintech startup founded by Shah in 2018, is set to be led by Miten Sampat, the current minus one at the company.

Cred is the second startup Shah is exiting. He also built and sold Freecharge, an Indian digital payments and mobile recharge platform between 2015 and 2018.

Over the years, Shah has become one of the most prominent figures in India's startup ecosystem. In addition to building Cred, he has invested in hundreds of early-stage startups and founders, earning a reputation as one of the country's most active angel investors. Now, he has global ambitions.

"Kunal Shah will join Meta as WhatsApp's next leader. Kunal built Cred into one of India's most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world's biggest messaging app. I look forward to working with Kunal to continue to make WhatsApp the best service for billions of people and millions of businesses," Mark Zuckerberg, CEO of Meta, said on June 22.

Shah takes over from WhatApp's current head, Will Cathcart, who will be stepping down.

"Will Cathcart just announced that he's stepping down as the head of WhatsApp after 7 years leading the app. Will's been one of Meta's most important and effective leaders, helping to bring WhatsApp to over 3 billion people and championing privacy for our community. I'm super grateful for his partnership and contributions over these years. Will is transitioning to a new role within Meta where he'll build new products from the ground-up -- I'm excited to continue to work together closely," Zuckerberg added.

Kunal Shah, founder, CRED, said: “I started Cred in 2018 with a belief that creditworthiness deserves to be rewarded. In under eight years, that belief has turned into a new category: millions of members, ~₹3,200 crore (~US $325M) in revenue, profitability, a full stack of licences and a strong brand. On this foundation, with additional capital and an extraordinarily talented team, CRED is poised to become an enduring institution for decades to come. I'm stepping back with gratitude and with conviction that the team will keep raising the bar.”

Operational responsibilities at Cred are set to transition to Miten Sampat, who currently serves as Shah's second-in-command at the fintech startup.

Miten Sampat, interim CEO, CRED, said: 𔄙.7 crore creditworthy Indians trust Cred with improving their relationship with money. Behind this is a high-talent-density team that has consistently demonstrated ownership, mission orientation, and taste. We have a generational opportunity to build on Kunal's vision and compound consistently towards becoming a public company. I'm excited to take CRED forward in its next chapter. We are just getting started.”

Since its inception about eight years ago, Cred has so far raised around $1 billion from Tiger Global, Ribbit Capital, Peak XV Partners, Greenoaks Capital, DST Global and several others.

Shailendra Singh, MD, PeakXV Partners, said: “CRED has had a highly inspiring startup journey since we led the seed round in 2018 and a lot of the credit for its unusual success goes to Kunal - whom we've partnered for over a decade - and the core leadership team at CRED. The company has created a category, amassed millions of highly engaged users, and built a sound economic engine. We are excited about the next phase of CRED as it strengthens the product, platform, and distribution moats it has built, and believe it will go from strength to strength in the years ahead.”

Report by 

22/06/26, Market Strategy for Today

Considering that the trend remains positive, backed by healthy technical and momentum indicators, the market is expected to bounce back after a day of profit booking and consolidation. However, the sustainability of the uptrend will be the key factor to watch. The Nifty 50 needs to defend the psychological 24,000 level for a potential upward move toward 24,150–24,200, followed by 24,500. However, if it falls below 24,000, the index may decline toward 23,800, which remains a crucial support level. Meanwhile, the Bank Nifty is likely to face resistance at 58,000, a critical level for further upside toward 58,800. On the downside, immediate support is placed at 57,200, followed by 56,800, according to experts.

On June 19, the Nifty 50 fell 155 points (0.64%) to close at 24,013, while the Bank Nifty slipped 278 points (0.48%) to 57,686. Market breadth was slightly weak, with about 1,533 shares declining against 1,467 advancing shares on the National Stock Exchange (NSE).

Nifty Outlook and Strategy

Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One

The weakness witnessed on the final trading session, coupled with the inability of buyers to sustain levels above 24,100 on a weekly closing basis, has made the near-term technical structure slightly uncertain. The formation of a Doji candlestick on the weekly chart reflects indecision between bulls and bears, suggesting that a clearer directional cue is required before taking aggressive positions.

The index continues to face strong overhead resistance, with the first hurdle emerging from a downward-sloping trendline connecting the swing highs of April and May, which also coincides with the 100 DEMA. On Point & Figure charts as well, the presence of a 45-degree falling trendline in the same region further highlights the importance of the 24,050–24,150 resistance zone.

Going forward, a cautious approach remains warranted. Unless Nifty delivers a convincing close above the 24,150 mark, it would be prudent to avoid aggressive positioning and instead look for opportunities near strong support zones. In terms of levels, the immediate support is placed near 23,900, followed by a stronger support band in the 23,710–23,620 zone. On the upside, the previous session high near 24,200 acts as the immediate resistance, followed by a stronger hurdle in the 24,450–24,500 zone.

Key Resistance: 24,180, 24,450

Key Support: 23,900, 23,650

Strategy: Buy Nifty Futures on dips around 23,900, with a stop-loss of 23,800 and book profits near the 24,150-24,200 zone.

Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis Securities

Nifty 50 saw a 390 points gains on a weekly basis. On the weekly chart, the index has formed a small bullish candle with shadows on both sides, reflecting heightened volatility and a tug-of-war between bulls and bears. The index also failed to close above the upper band of the short-term falling channel, which has been in place since April 21, keeping the breakout confirmation pending.

Technically, a decisive breakout above the previous week's high of 24,189 could trigger fresh buying momentum and propel the index towards 24,457, where the 200-day EMA is placed, followed by the 25,000 level.

On the downside, a break below the previous week's low of 23,818 may invite profit booking, dragging the index towards the bullish gap support near 23,645, with further downside potential towards the 23,500 zone. The weekly RSI and Stochastic have both turned positive and are above their respective reference lines, indicating a positive bias.

Key Resistance: 24,150, 24,300

Key Support: 23,900, 23,800

Strategy: Buy Nifty Futures around 23,950, with a stop-loss of 23,800, and target of 24,150-24,250.

Bank Nifty - Outlook and Positioning

Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis Securities

Bank Nifty closed the last week with 871 points gains. On the weekly chart, the index has formed a small bearish candle with shadows on both sides, suggesting a breather after the recent sharp rally. However, Bank Nifty continues to hold above its 200-day SMA at 57,042, reflecting underlying strength and maintaining a positive bias.

Technically, a decisive move above 58,000 could trigger fresh buying momentum and propel the index towards the 58,500–59,000 zone. Conversely, a break below 57,100 may invite profit booking, dragging the index towards the 56,800–56,400 support zone.

For the week ahead, we expect Bank Nifty to trade in the 59,000–56,400 range with a positive bias . Momentum indicators remain supportive, with both the daily and weekly RSI trending higher and holding above their respective reference lines, indicating strengthening momentum and reinforcing the constructive outlook.

Key Resistance: 57,900, 58,200

Key Support: 57,400, 57,250

Strategy: Buy Bank Nifty Futures around 57,450 with a stop-loss of 57,250, targetting 57,850-58,000.

Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One

Although the banking index posted decent gains for the week, it largely appeared to be a breather phase for the bulls when compared to the strong rally of over 4 percent witnessed during the previous week. Most of the gains were accrued through the gap-up opening at the start of the week, following which prices traded with a series of small-bodied candles on the daily chart. This has translated into a classical Doji formation on the weekly chart, which typically indicates indecision.

However, despite the formation, we continue to maintain a positive bias considering the strength of the broader technical structure. During the week, Bank Nifty closed above the April swing high of 57,456, thereby confirming a major Higher Top–Higher Bottom formation on the daily chart. In addition, prices have also managed to sustain above the long-term 200DSMA, which had acted as a formidable resistance during the April rally. This development indicates strengthening bullishness across multiple timeframes.

The moving average structure has also turned favourable. During the week, the index witnessed a bullish crossover between the 20DEMA and 50DEMA, with the 20DEMA also approaching a crossover above the 89DEMA. These developments further reinforce the positive undertone. Another encouraging sign is that Bank Nifty is now sustaining comfortably above the 61.8 percent retracement of the entire decline from the all-time high of 61,679 to the recent low of 49,955, indicating that the primary uptrend has resumed.

As far as levels are concerned, the bullish gap left this week near the 200DSMA is likely to act as an important support zone in the range of 57,000–56,700. On the upside, the 58,500–59,500 zone is seen as the next key resistance area based on retracement projections and gap theory.

Key Resistance: 58,400, 59,200

Key Support: 57,400, 56,800

Strategy: Buy Bank Nifty Futures on dips around 57,400, with a stop-loss of 57,150 and book profit near the 58,000 mark.

Report by Sunil Shankar Matkar 

Source: MoneyControl, Network18 

22/06/26, Foreign Funds Outflows Report

India-focused equity funds have witnessed accelerating foreign outflows this year, with investors pulling out $8.5 billion in 2026 and reversing more than half of the inflows that poured into the country after 2023, as global capital rotates toward US technology and artificial intelligence-linked markets.

About 55% of the inflows received during the March 2023-October 2024 period have now been redeemed, according to Elara Securities' latest Global Liquidity Tracker. Most of the withdrawals have come from Luxembourg and Japan-domiciled funds.

"India remains a funding source for this global rotation," the brokerage said, adding that redemptions from India-focused funds have accelerated since the start of the year as investors redirected capital toward AI-linked opportunities in Taiwan and South Korea.

The outflows come amid a broader rush of money back into U.S. equities, which attracted an unprecedented $120 billion in inflows in the latest week, led by exchange-traded funds (ETFs).

Elara said the dollar index has surged to a one-year high as investors increasingly position for a "higher-for-longer" interest-rate environment and concentrate bets on US technology companies viewed as direct beneficiaries of the AI boom.

Nearly $50 billion of the inflows into US equities went into three ETFs benchmarked to the S&P 500, while US mid-cap ETFs attracted a record $20 billion. U.S. small-cap ETFs received $12.3 billion, their largest inflows since June 2007, and US technology sector funds drew a record $19.2 billion.

"The euphoria in global AI trade is narrowing to play the U.S. tech innovators while the peripheral AI ecosystem flows are gradually slowing," the report said.

Emerging market funds continued to witness redemptions, although the pace slowed to $570 million from around $3 billion in each of the previous two weeks.

Elara said global emerging market funds have increasingly become a proxy for the AI value-chain trade as South Korea and Taiwan now account for around 52% of the benchmark emerging market index.

Country-level flows turned positive again for South Korea and Taiwan after six weeks of weakness, with foreign inflows of $1.3 billion and $600 million, respectively.

On the other hand, India and China remained under pressure, recording outflows of $440 million and $1.7 billion, respectively. Brazil and Mexico, both major beneficiaries of the AI and commodity rally over the past year, also continued to see redemptions.

Meanwhile, investors continued to pull money out of precious metals funds. Outflows from the category rose to a 12-week high of $3 billion, taking cumulative withdrawals since March to $18 billion, according to the report.

Report by Anisha Kumar

Source:Network18

21/06/26, Dalmia Bharat optimistic about cement industry growth, expects demand to expand at a CAGR of 6-7% over next few years

Dalmia Bharat is planning to raise up to ₹4,000 crore through various instruments to support its growth plans, as it targets to expand its manufacturing capacity to 110-130 million tonnes per annum by FY31 through a mix of acquisitions, greenfield and brownfield projects.The country's fourth-largest cement maker, which currently has a significant presence across eastern, northeastern and southern India, plans to scale its cement manufacturing capacity from around 49.5 million tonnes per annum (MTPA) to 75 MTPA in the medium term, according to the company's latest annual report.

Dalmia Bharat remains optimistic about the cement industry's growth prospects and expects cement demand to expand at a compound annual growth rate (CAGR) of 6-7 per cent over the next few years, driven by government-led infrastructure spending, private-sector investments, and rising housing demand amid increasing urbanisation.

"This will create long-term volume-growth opportunity across regions. Our calibrated capacity expansion to 110-130 MTPA capacity by 2031 is strategically aligned with this demand growth outlook," said the company, outlining its ambitious expansion roadmap to strengthen its position in the domestic cement industry.As part of its long-term growth strategy, the company aims to expand into geographies where it currently has limited or no presence, while simultaneously undertaking strategic capacity additions in existing markets to address demand gaps and increase market share."The company anticipates growth opportunities in its existing operations and continues to evaluate various avenues for organic expansion and inorganic growth. Towards this, the company continues to require capital for achieving such growth and expansion," it said.To support its expansion plans, the company has proposed raising "for an aggregate amount not exceeding ₹4,000 crore" through public or private offerings, including qualified institutional placements (QIPs), the company said in its agenda point for discussion and voting in the coming AGM.The proposed fundraising, approved by the Board on May 23, 2026, may involve the issuance of equity shares, global depository receipts (GDRs), American depository receipts (ADRs), foreign currency convertible bonds (FCCBs), convertible debentures, preference shares and other eligible securities, it said.The proceeds will be utilised towards "capital expenditure, the prepayment and/or repayment of debts" of the company and its subsidiaries, working capital requirements, investments in subsidiaries and general corporate purposes.

Currently, there are only two major cement players in India with a manufacturing capacity of over 100 MTPA.The industry, which is witnessing consolidation through the inorganic route, is led by Aditya Birla Group firm UltraTech Cement with a consolidated capacity of 205.5 MTPA.It is followed by Adani Group firm Ambuja Cements, which has a capacity of 109 MTPA.Addressing the shareholders, Dalmia Bharat Managing Director and CEO Puneet Yadu Dalmia and Managing Director Gautam Dalmia said the company is aligning its growth strategy with India's long-term development ambitions and aims to emerge as a pan-India cement player."As part of our Phase II expansion plan, we announced strategic investments of over ₹6,800 crore to enhance our cement capacity by 12 MTPA, through capacity additions at Belgaum, Pune and Kadapa," they said, adding Dalmia Bharat is also developing a bulk terminal near Chennai to strengthen its presence in North Tamil Nadu.The cement maker recently signed an agreement to acquire cement assets of Jaiprakash Associates, including plants in Madhya Pradesh and Uttar Pradesh, for an enterprise value of ₹2,850 crore, they added."This acquisition will provide faster access to central markets compared to a greenfield project and further offers expansion opportunity through debottlenecking, as well as a brownfield approach," said Dalmias.

The company reported its highest-ever annual EBITDA of ₹3,083 crore in FY26, its revenue rose 6 per cent to ₹14,804 crore and profit after tax jumped 65 per cent to ₹1,157 crore. It expects its capacity to rise to 66.7 MTPA in FY28."Our expanding presence, combined with increasing production capacity to 66.7 MTPA by Q2-Q3 FY 2027-28 and continued emphasis on sustainable solutions, reflects our commitment to supporting Bharat’s infrastructure," they said.Besides, Dalmia Bharat is also focusing on the premiumisation of its cement portfolio through innovation-led products. Its product strategy is centred on specialised Roof, Column and Foundation (RCF) solutions designed to enhance structural performance in construction applications.The company is witnessing a shift towards blended and premium cement products, supported by increased utilisation of Portland Slag Cement (PSC) and advanced formulations, as it seeks to cater to evolving customer requirements and drive value-led growth.

Report by PTI

Source:BusinessLine

20/06/26, Gold Rates speculation

Gold Prices and Silver Prices in India have continued to be under pressure after the US Federal Reserve turned hawkish and signaled at least one rate hike in 2026, driving the US dollar to near the 101 mark. Treasury yields also witnessed an uptrend, which further added to the woes of safe haven assets.

MCX gold is currently below Rs 147,500 per 10 grams mark and MCX silver plunged to near Rs 232,700 per 1 kg level. Meanwhile, spot gold reached $4,150 per ounce, and spot silver fell below $65 per ounce. Both spot gold and silver are at their lowest level since June 11. On the contrary, US WTI Crude oil climbed above $77 per barrel and Brent Crude neared $81 per barrel.

Safe haven assets faced intense selloffs due to a stronger dollar and rising interest rate likelihood. The dollar climbed to a one-year high after the Federal Reserve left rates unchanged but struck a hawkish tone. Nine of the Fed's 19 policymakers now expect at least one rate hike later this year, while markets are pricing in roughly a 70% chance of an increase by September. Higher-for-longer interest rates tend to reduce the appeal of non-yielding assets such as silver while supporting the dollar. Geopolitical uncertainty also remained elevated after Switzerland announced that planned US-Iran talks aimed at ending the Middle East conflict would not take place on Friday, clouding prospects for a lasting peace agreement, as per Trading Economics.

Report by Pooja Jaiswal, 

Source: Goodreturns