10/06/26, Gold Prices today

Domestic gold prices slipped below the Rs 1,50,000-per-10-gram mark on Wednesday (June 10), as traders continued to book profits ahead of key US inflation data, amid concerns that higher inflation could keep interest rates elevated for longer.

The 24-karat gold price traded at Rs 1,47,489 per 10 grams on MCX, down more than Rs 3,500 in a single session. The decline marks a sharp reversal of 9 percent from the recent highs of Rs 1,64,500 per 10 grams recorded on May 13, when prices surged following the government's import duty hike on the precious metal.

"The correction has been significant after the import duty-driven spike on May 13. The initial rally following the duty hike largely reflected higher domestic costs rather than a fresh fundamental breakout, and prices have since retraced as markets refocus on global macroeconomic factors," Jateen Trivedi, VP Research Analyst (Commodity & Currency) at LKP Securities, said.

According to market experts, the import duty hike helped gold achieve the Rs 1,65,000 target almost immediately, but that move was largely policy-driven and created a profit-booking opportunity rather than a fresh long-term breakout.

Spot gold prices last closed below the Rs 1.50 lakh mark on May 11, 2026, settling at Rs 1,49,942 per 10 grams on the NSE.

Gold prices vary as per purity. Here's how the price of 10 grams of 24-karat, 22-karat, and 18-karat pure gold moved today.

Gold prices vary among cities. Here's how the prices of 10 grams of gold moved in your city.

Gold outlook: Should investors buy, hold or sell?

Market experts estimate that the next important support for gold is seen near Rs 1,45,000 per 10 grams. On the upside, Rs 1,55,000 remains a major resistance level, and as long as prices remain below this mark, overall sentiment is likely to remain weak.

"The recent correction in gold prices is largely driven by a stronger US dollar, supported by robust economic data, which has reinforced expectations of prolonged higher interest rates. Elevated bond yields have further reduced the appeal of non-yielding assets like gold. For investors, the decline presents an opportunity to accumulate through a staggered SIP approach or on dips," Hareesh V, Head of Commodity Research at Geojit Investments Limited, said

10/06/26, United States would "hit Iran hard today?!

US President Donald Trump on Wednesday warned that the United States would "hit Iran hard today", while accusing Tehran of dragging its feet on a peace agreement that he claimed was already fully negotiated.

Speaking to reporters, Trump said Washington was prepared to take tougher action against Iran even as diplomatic efforts continued.

"We are going to hit Iran hard today," Trump said.

The US president also accused Iranian negotiators of delaying a deal that he said would have benefited Tehran.

"We're going to be attacking them, attacking them very hard," Trump told reporters in the Oval Office.

"We were really close to a deal, but they keep tapping us along, they keep playing us for suckers."

Despite the threat of military action, Trump maintained that an agreement remained possible. "I think they are going to want to make a deal," he said.

According to Trump, the negotiations have already been completed and only require Iran's approval. "All they have to do is sign the paper. It's fully negotiated."

The president once again stressed that preventing Iran from obtaining a nuclear weapon remains a central objective of US policy.

"Iran cannot have a nuclear weapon, and they won't, and they have agreed to that," he said.

Trump also claimed that the United States had been taking steps to disrupt Iranian oil exports, although he did not provide evidence for the assertion.

"We have been taking out millions of barrels of oil. Nobody knows it. You know who doesn't know about it? Iran, until right now," he said.

In another striking claim, Trump said the US had recently seized vessels linked to Iran.

"We took 22 ships the other night, late at night, with no lights because they have no radar," he said.

The comments come amid renewed tensions between Washington and Tehran following recent military exchanges that have put additional strain on an already fragile ceasefire.

Trump indicated that regional efforts to broker an agreement were continuing and mentioned Pakistan's involvement in diplomatic contacts.

"Pakistan is still working for a deal with Iran," he said.

The US president added that he had been engaged in discussions with Iran for several months and again urged Tehran to accept the proposed agreement.

"I have been working with Iran for a number of months, and they should sign the deal. It's a good deal," Trump said.

Earlier today, Trump accused Iran of taking too long to negotiate a peace deal and warned it would "have to pay the price", as the head of the United Nations cautioned against a return to all-out war.

Iran and the US once again traded fire following the downing of an American helicopter, further straining a ceasefire that took effect in April but has been marked by sporadic flare-ups of violence.

The exchange drew international calls for restraint on the eve of the World Cup, which the US is co-hosting and Iran is participating in.

Trump had said on Tuesday that talks to bring about a definitive end to the Middle East war were in the "final throes", only to offer a starkly different assessment a day later.

"Iran is all talk and no action," he said on Wednesday. "They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"

Separately, Trump told a Fox News journalist that because peace talks had stalled, he was getting closer to targeting Iran's power plants and bridges.

"I may keep going," he was quoted as saying. "They had a chance to sign a deal and survive."

In a sign that diplomacy was continuing, however, negotiators from Qatar -- which along with Pakistan has been assisting in mediation efforts -- travelled to Tehran on Wednesday "to meet with the Iranians in an effort to bridge the remaining gaps", a diplomat with knowledge of the situation said.

Source:Network18

10/06/26, Share Market performance today

Sensex, Nifty at 3:30 pm: At the close of trade, the benchmark indices ended on a mixed note. The Sensex gained 64.42 points, or 0.09%, to settle at 73,983.18, while the Nifty slipped 27.15 points, or 0.12%, to close at 23,214.95.

Sensex, Nifty at 3 pm: Markets give up gains in late trade. The Sensex is down nearly 300 points from the day’s high point while the Nifty slipped into red, struggling around 23,200. The selling in the small and midcaps outpaced the benchmark indices. The metal stocks bore the brunt of the selling pressure. Coal India, Hindalco, Infosys and ONGC are among the key Index losers in trade today.

Sensex, Nifty at 11 AM: In the intraday trading session, the benchmark indices are trading higher, with the Sensex rising 520.39 points, or 0.7%, to 74,439, while the Nifty gained 140 points, or 0.60%, to 23,382.

Among the top gainers on the Sensex 30 pack, Kotak Mahindra Bank advanced 2.36%, Hindustan Unilever gained 2.07%, ICICI Bank climbed 2.01%, and Axis Bank rose 1.81%.

On the losing side, Mahindra & Mahindra declined 0.34%, UltraTech Cement fell 0.69%, Tata Steel slipped 0.71%, and Eternal dropped 0.73%.

Share market today ahead of opening, June 10: The global markets are trading on a lower note after the US launched retaliatory strikes on Iran. Investors are less optimistic about hopes of a US-Iran peace deal. Also, the crude oil prices ticked higher sharply after the 5% slide last night. Following these developments, the GIFT Nifty is indicating a positive start, up 80 points or 0.34%. 

Earlier on Tuesday, the NSE Nifty 50 closed the session 119 points or 0.52% higher at 23,242, while the BSE Sensex surged 395 points or 0.54% to close at 73,918.

Key global and domestic cues to know on June 10, 2026

Asian Markets

Asia-Pacific markets opened lower on Wednesday as tensions in West Asia dent investor sentiment. Japan’s Nikkei 225 dropped 0.71%, while the Topix slipped 0.30%. South Korea’s Kospi declined 2.31%, and the small-cap Kosdaq was down 0.67%. Hong Kong Hang Seng index futures were at 24,441, lower than the index’s last close of 24,565.90.

US markets

The futures of US benchmarks slipped on Wednesday after the US launched “self-defence strikes” against Iran, in retaliation for the downing an Apache helicopter a day earlier. S&P 500 futures and Nasdaq 100 futures both shed 0.3%. Futures tied to the Dow Jones Industrial Average fell by 161 points, or 0.3%.

On Tuesday, the US equity markets closed on a lower note. The S&P 500 index fell 0.26% to close at 7,386.65, while the Nasdaq Composite moved down 0.97% to 25,678.82. The Dow Jones Industrial Average gained 86.10 points, or 0.17%, to end at 50,872.11.

Crude oil

West Texas Intermediate (WTI) crude futures advanced 1.79% to $89.78 per barrel. On the other hand, Brent crude futures with August delivery traded 1.78% higher at $93.08 this morning. This is after prices rebounded from the sharp 5% slide seen last night b On COMEX, crude prices surged 1.62% to trade at $89.63 a barrel.

Earlier on Tuesday night, oil prices declined after US Energy Secretary Chris Wright said ship traffic through the Strait of Hormuz is “rising very meaningfully.” US crude oil futures declined 3.4% to close at $88.20 per barrel. Brent futures lost 2.97% to settle at $91.45

Gold rate today

The rate for 24-carat gold today is Rs 1,52,320 per 10 grams. The price of gold has fallen by 1.55% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,52,060 per 10 grams. The 18-carat gold price today in India is Rs 1,14,240. The 24-carat gold rate in Dubai today is Rs 1,49,590. On COMEX, the precious metal was trading at a price of Rs 4,248.40 an ounce, down 0.89%.

Silver rate today

In India, the silver rate fell 3.4% to Rs 2.38 lakh per kilogram. On COMEX, Silver prices traded 0.34% lower at $65.01 per troy ounce. Silver had surged to record highs in January amid geopolitical tensions and economic uncertainty, with heavy speculative buying pushing prices higher, but soon faced volatility.

FII, DII data

Foreign institutional investors (FIIs) were net sellers of shares worth Rs 4,566.03 crore. On the other hand, the Domestic institutional investors (DIIs) were the net buyers of shares worth Rs 6,159.48 crore on June 09, 2026, according to the provisional data available on the NSE.

US dollar

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.04% higher at 100. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee depreciated 0.39% to close at 95.35 to the dollar on June 09.

Top sectors in Tuesday’s trade

The Waste Management sector stocks surged the most in Tuesday’s trade, rising 4.27% in market capitalisation. Further, Transport stocks were followed by the Packaging sector stocks, which were further followed by the Aviation sector stocks. However, the Oil & Gas Exploration stocks fell the most, rising over 1.82%.

Best and worst performing business groups

The Garware Group’s market cap rose the most in Tuesday’s session, rising 5.9%. It was followed by the Patodia Group. Apart from that, Essar Group’s market capitalisation dropped the most, declining 3%. In the list of Essar Group stocks, Yunik Managing Advisors’ share pulled back 8%. 

click on blues for more 

Report by Bansal Sparsh,  

Source:FinancialExpress

10/06/26, Profit Booking in the afternoon session

 The benchmark equity indices Sensex and Nifty50 pared their early gains during afternoon trade on Wednesday amid profit booking at higher levels and weak global cues.

At 2:50 pm, the Sensex was up 183.56 points or 0.25 percent at 74,102.32, and the Nifty was up 20.75 points or 0.089 percent at 23,262.85.

Among sectoral indices, metals declined 1.1 percent, with 14 of the 15 constituents trading in the red. The sector came under pressure as renewed West Asia tensions and rising expectations of a US Federal Reserve rate hike by the end of the year weighed on demand prospects ahead of key US inflation data due later in the day.

Meesho gained 4 percent after Jefferies initiated coverage on the stock with a "buy" rating. Afcons Infrastructure jumped 9 percent after securing an order worth Rs 5,300 crore.

Key factors behind market paring gains

1) Weak global cues: Asian markets were trading lower, with South Korea's Kospi, Japan's Nikkei 225, China's Shanghai SSE Composite and Hong Kong's Hang Seng index quoting in the red. US markets ended mostly lower on Tuesday. Wall Street futures were also trading lower, indicating a weak start for US equities later in the day.

2) Persistent FII selling: Foreign Institutional Investors (FIIs) sold equities worth Rs 4,566.03 crore on Tuesday.

3) Profit booking: Investors booked profits at higher levels after the sharp rally in early trade, leading to a trimming of gains. In the previous session on Tuesday, the Sensex had climbed 394.50 points, or 0.54 percent to settle at 73,918.76, while the Nifty advanced 119.10 points, or 0.52 percent to close at 23,242.10.

4) Geopolitical concerns: Fresh hostilities between the US and Iran weighed on global sentiment. The tensions resurfaced after the US launched strikes against Iran following President Donald Trump's statement that Tehran had downed a US Apache helicopter in the Strait of Hormuz.

5) Rise in Brent crude: Brent crude rose 0.5% to $92 per barrel after sliding to a seven-week low on Tuesday.

"With sentiment remaining fragile due to the West Asia conflict and volatility in crude prices, we remain cautious on the benchmark index while focusing on stock-specific opportunities at this juncture," said Ajit Mishra, Senior Vice-President, Research, Religare Broking.

Technical Outlook

Anand James, Chief Market Strategist at Geojit Investments, said "Yesterday's hammer pattern lends a positive bias for today, but with 23,350 and 23,500 standing in the way of a directional upside. That said, inability to float above 23,182 will signal weakness, though a drop towards 22,962 or 22,800 pencilled in earlier appears less likely right away."

Source: Moneycontrol, Network18 

Disclaimer: we advise readers and investors  to check with certified experts before taking any investment decisions.

10/06/26, Nifty Bank weekly graph

10/06/26, Astra Micro Stock

 Astra Microwave Products: This Vendor Built 90% ISRO Electronics

Astra Microwave Products has been a key partner in building these indigenous space based  surveillance systems. Astra has been actively engaged in India’s space program for 25 years.

Why Astra’s 25-Year Link to ISRO Positions It for the Private Satellite Chunk  

Astra has acted as a highly trusted supplier to the Indian Space Research Organisation (ISRO) and the Space Applications Centre (SAC). It provides specialized RF components for both satellites and launch vehicles.

The space and meteorology segments contributed approximately 16% of revenue during FY26. On the other hand, Sales to ISRO and the SAC accounted for 6.4% of revenue.

The company’s involvement in major projects is substantial. For example, when ISRO developed the RISAT (Radar Imaging Satellite) in 2015, Astra supplied 90% of the electronics for the project. To date, the company has contributed to the development of 25 satellites.

In Q4 FY26, Astra secured orders to supply checkout hardware for ISRO’s prestigious Gaganyaan mission. Further, Astra successfully delivered highly complex subsystems for a unique defence space program over the last year. And they anticipate repeat orders as the end-user plans to build an entire constellation of these defence satellites.

Beyond space, Astra is a Tier-1 systems manufacturer in the surveillance space. It has delivered complete ground-based surveillance radar systems, active antenna array units for platforms like the Su-30 and Light Combat Aircraft, and various tracking radars to the DRDO and the Indian military.

Corporate Restructuring: Demerging to Unlock Space Value

Astra is restructuring its corporate framework to give the space sector undivided attention. It is demerging its Space, Meteorology, and Hydrology business undertakings into an independent entity. The spin-off aims to create a separate space- focussed business  and unlock shareholder value.

Astra aims to move up the space value chain and launch its own basic satellite within the next 2-3 years. To that end, it has begun recruiting personnel and setting up basic infrastructure for satellite integration at its Bengaluru facility.

Order Pipeline: Quantifying Astra’s FY27 Inflow Targets

As of March 2026, Astra standalone order book stands at a robust ₹2,141 crore. Management expects approximately ₹1,600 crores in total new order bookings for FY27. Of this, the space and meteorology segments are projected to contribute around 25%.

Astra stock graph 

Article by Madhavendra 

Source: FinancialExpress

10/06/26, Data Patterns(India)Limited

 Data Patterns: Targets 3-Year Backlog Shield

Data Patterns is strategically positioning itself to address immediate requirements in strategic space-based surveillance and mitigation. The company anticipates that these opportunities will substantially increase its revenue in the coming years.

Deep-Space Hardware: The Alpha and Bravo Radar Systems

Management emphasized that they are addressing these space-surveillance opportunities with large, complex systems. Data Patterns has developed these systems in-house and delivered them to customers.

This includes technological undertakings such as the Alpha Radar (S-Band Space Surveillance and Tracking Radar) and the Bravo Radar (UHF Bi-Static Radar). The company builds the Alpha Radar, one of India’s largest indigenous radar systems. The entire system is housed within a massive 20-meter spherical radome.

Turnkey Capabilities: Managing Infrastructure Beyond Electronics

The Bravo Radar is used to detect targets at distances of thousands of kilometers. Both systems detect deep-space targets at ranges of several thousand kilometers. The company provides these as complete turnkey solutions. This means Data Patterns takes responsibility not only for the radar electronics but also for all associated civil.

High Valuation vs. Execution: Data Patterns’ 3-Year Backlog Strategy

Management expects these strategic surveillance opportunities to help build a strong order book equivalent to at least 3 years’ revenue. Securing this level of backlog is intended to ensure “predictable growth” for the company over the long term. This aligns with its goal of achieving long-term revenue visibility.

In addition to these large-scale radar systems, it has a long-standing history of collaboration with ISRO. Their broader space and aerospace capabilities include the design and development of small and nano satellites, satellite subsystems, and ground stations. Notably, it successfully built a nano satellite that was deployed into space in 2017.

As of 15 May 2026, the company’s order book pipeline had grown to ₹2,062 crore, which includes both orders already received and those successfully negotiated. This is the largest order book in the company’s history, providing revenue visibility for years to come.

Data Patterns graph 

Article by Madhavendra 

Source: Financial Express 

10/06/26, Market For Today

The Nifty 50 bounced back with a half-percent rally after a 1 percent correction in the previous session, supported by the banking sector on June 9. Overall, the trend remains weak, as the index traded below all key moving averages. However, a recovery was witnessed with the formation of a bullish reversal-type pattern near the support level. According to experts, range-bound trading may continue until the index gives a strong and sustainable close above the 23,500–23,600 zone, which could increase the possibility of an upward move toward 23,800–24,000. Until then, immediate support is placed at 23,100, below which the 23,000 level will be crucial to watch.

 Levels For The Nifty50 (23,242):

Resistance based on pivot points: 23,275, 23,317, and 23,384

Support based on pivot points: 23,142, 23,100, and 23,034

👉: The Nifty 50 formed a small-bodied bearish candle with a long lower shadow, indicating buying interest at lower levels. This also resembles a Dragonfly Doji-type pattern on the daily timeframe, which is generally considered a bullish reversal signal. The index remains below all key moving averages, which are also trending downward. The RSI rose to 39.58 but remained below its reference line, while the MACD continued to trend downward and stayed below the signal line. However, weakness in the histogram faded. All these factors indicate a possible improvement in momentum, although the broader trend remains cautious.

Levels For The Bank Nifty  (55,195)

Resistance based on pivot points: 55,329, 55,583, and 55,994

Support based on pivot points: 54,507, 54,253, and 53,842

Resistance based on Fibonacci retracement: 55,809, 57,195

Support based on Fibonacci retracement: 53,687, 52,798

👉The Nifty Bank outperformed the Nifty 50 and rallied 2.09 percent, forming a long bullish candle on the daily charts. The index surpassed the previous week's high as well as its short- and medium-term moving averages, supported by above-average volumes. The RSI jumped to 55.48 and witnessed a bullish crossover, while the MACD remained above the signal line with rising green bars in the histogram. All these factors indicate strengthening bullish momentum and improving market sentiment.

Nifty50 Call Option Data:

According to the weekly options data, the maximum Call open interest was seen at the 24,000 strike (with 49.7 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 23,500 strike (41.8 lakh contracts) and 23,200 strike (35.49 lakh contracts).

Maximum Call writing was observed at the 24,000 strike, which saw an addition of 18.53 lakh contracts, followed by the 23,500 and 23,200 strikes, which added 18.46 lakh and 16.61 lakh contracts, respectively. There was hardly any Call unwinding seen in the 22,600-24,000 strike band.

Nifty50 Put Option Data:

On the Put side, the 23,200 strike holds the maximum Put open interest (with 45.1 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 23,000 strike (34.99 lakh contracts) and the 23,300 strike (27.28 lakh contracts).

The maximum Put writing was placed at the 23,200 strike, which saw an addition of 25.66 lakh contracts, followed by the 23,000 and 22,600 strikes, which added 18.8 lakh and 17.44 lakh contracts, respectively. There was hardly any Put unwinding seen in the 22,600-24,000 strike band.

Bank Nifty Call Option Data 

According to the monthly options data, the maximum Call open interest was seen at the 55,000 strike, with 10.54 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 54,000 strike (10.22 lakh contracts) and the 56,000 strike (8.71 lakh contracts).

Maximum Call writing was observed at the 55,200 strike (with the addition of 37,530 contracts), followed by the 55,500 strike (19,920 contracts) and 55,000 strike (13,650 contracts). The maximum Call unwinding was seen at the 54,000 strike, which shed 1.12 lakh contracts, followed by the 54,500 and 54,200 strikes, which shed 85,860 and 56,460 contracts, respectively.

Bank Nifty Put Option Data 

On the Put side, the 54,000 strike holds the maximum Put open interest (with 13.68 lakh contracts), which can act as a key support level for the index in the short term. This was followed by the 55,000 strike (8.82 lakh contracts) and the 54,500 strike (5.45 lakh contracts).

The maximum Put writing was placed at the 55,000 strike (which added 2.2 lakh contracts), followed by the 54,500 strike (1.43 lakh contracts) and 54,000 strike (1.21 lakh contracts). The maximum Put unwinding was seen at the 54,200 strike, which shed 17,160 contracts, followed by the 54,100 strike, which shed 9,210 contracts.

Report by SunilSankarSource:Moneycontrol, Network18 

10/06/26, Funds Allocation Fall

Foreign institutional investors' weight in India's two largest sectoral bets -- financials and information technology -- has sharply fallen, as sustained outflows since the start of 2026 and a broad market correction eroded both allocations and absolute holdings.

FII allocation to the IT sector stood at 5.6 percent of total equity holdings in May, the lowest level in NSDL data available since 2012. The allocation has fallen 185 basis points since the start of 2026 and nearly 500 basis points since the beginning of 2025. In value terms, FIIs held around $40 billion worth of IT stocks during the month, against roughly $60 billion at the start of 2026 and $81 billion at the beginning of 2025.

Meanwhile, FII exposure to financial stocks fell to a 16-month low of 29.5 percent in May, down 285 basis points from the start of 2026. In absolute terms, holdings stood at around $210 billion during the month, compared with $250 billion at the beginning of 2026.

Together, IT and financial stocks accounted for outflows of nearly $3 billion and $12.2 billion, respectively, according to fortnightly data on NSDL, so far in 2026 -- representing nearly 55 percent of the total FII equity outflow of $28 billion.

Financial stocks have faced headwinds from rising global inflation and surging crude oil prices, which have stoked broader domestic economic concerns. IT stocks, meanwhile, have remained under pressure due to a convergence of lowered revenue growth forecasts, structural disruption from artificial intelligence threatening traditional outsourcing models, and weak client spending -- particularly in the United States and Europe.

Market experts note that financial services and IT services carry a significantly higher weight in benchmark indices, reflecting both their market capitalisation and substantial FII ownership. As a result, broad-based risk reduction or basket selling by FIIs tends to disproportionately impact these sectors, resulting in higher reported outflows relative to the rest of the market.

Nirav Karkera, Fund Manager at Fisdom PMS and Head of Research, said that in financial services, a large share of the elevated selling is attributable to the sector's higher representation in FII portfolios through both strategic allocations and passive, index-linked holdings.

In IT services, he added, the sector has been undergoing a sustained derating cycle amid a challenging demand environment driven by a global economic slowdown, compounded by persistent geopolitical uncertainties and growing concerns over the impact of AI-led disruptions on future earnings and business models.

At the end of May, FII total equity assets stood at $710 billion, down 14 percent from $826 billion at the end of December 2025 and $831.49 billion at the end of December 2024.

Report by Ravindra Sonavane

source: Network18 

09/06/26, Operating Margin

 OPM% almost always refers to Operating Profit Margin, a core financial metric that indicates how much profit a company makes from its core operations before interest and taxes are deducted. It is calculated by dividing operating profit by revenue and multiplying by 100%. 

Financial Metric (Operating Profit Margin)

In the share market and corporate finance, a high OPM% indicates that a business is highly efficient at managing its day-to-day expenses, such as production, labor, and raw materials. 

Formula: \(\text{OPM\%} = \left( \frac{\text{Operating Profit}}{\text{Revenue}} \right) \times 100\)

09/06/26, PreMarket REPORT

Benchmark indices Sensex and Nifty are likely to open lower on Tuesday, with GIFT Nifty indicating a subdued start as investors remain cautious despite a rebound in Asian markets. Concerns linger over Middle East tensions, elevated crude oil prices and persistent foreign fund outflows.

GIFT Nifty was trading at 23,133 in early trade, down 45 points or 0.19 percent, indicating that the Nifty 50 could open below Monday's close of 23,123.

The weak indication comes after Indian equities extended their losses for a second straight session on Monday. The Sensex fell 719 points, while the Nifty shed 244 points as escalating tensions in West Asia, higher crude oil prices, weak global cues and continued FII selling weighed on sentiment.

However, global markets showed signs of stabilisation after Monday's sharp selloff. Asian equities rebounded on Tuesday as investors welcomed a temporary halt in hostilities between Israel and Iran and returned to beaten-down semiconductor stocks. MSCI's Asia-Pacific index outside Japan rose 0.9 percent, South Korea's KOSPI climbed 3 percent after Monday's 8 percent-plus plunge, while Japan's Nikkei edged up 0.3 percent.

Wall Street ended mostly higher overnight, with technology shares leading gains. The Nasdaq rose 0.86 percent and the S&P 500 gained 0.3 percent as investors bought semiconductor stocks after Friday's sharp correction. The Dow Jones slipped 0.16 percent. Markets also drew some comfort after Iran and Israel announced a temporary halt to attacks following an appeal from U.S. President Donald Trump.

Crude oil prices eased from overnight highs after the pause in hostilities. Brent crude was trading around $94 per barrel, while WTI crude hovered near $91 per barrel. Oil had surged as much as 5 percent on Monday before retreating after Iran announced the end of military operations against Israel.

Ponmudi R, CEO of Enrich Money, said Indian markets are likely to remain volatile with a cautious bias as the ceasefire between Israel and Iran has reduced immediate escalation risks but there is still no clarity on the broader U.S.-Iran diplomatic process.

He said crude oil prices remain elevated despite recent moderation, keeping concerns over inflation and import costs alive. Persistent foreign institutional selling also continues to cap upside potential for domestic equities, even as strong domestic institutional flows provide support.

Foreign institutional investors remained net sellers on June 8, offloading shares worth Rs 5,555 crore. Domestic institutional investors purchased equities worth Rs 5,165 crore, helping absorb much of the foreign selling pressure.

On the technical front, Ponmudi said the Nifty faces immediate resistance in the 23,250-23,300 zone, while the 23,000 level remains a critical support area. A sustained move above resistance could push the index towards 23,450-23,550, while a break below 23,000 could trigger further downside towards 22,800.

For Bank Nifty, resistance is seen in the 54,400-54,500 zone, while immediate support is placed between 54,000 and 53,800.

Source: Network18