Indian benchmarks head into Monday’s session nursing wounds from a sharp IT-led selloff that snapped a five-day winning streak. With GIFT Nifty pointing higher and global cues turning supportive, here is everything you need to know before the opening bell on the NSE and BSE.
1. NSE, BSE Opening
GIFT Nifty was trading around 24,084 (up about 0.40%) against Nifty’s Friday close of 24,013.10, signalling a mildly positive to gap-up start. On June 19, the Nifty 50 ended down 154.90 points (-0.64%) at 24,013.10, while the Sensex shed 607.08 points (-0.78%) to 76,802.90. The Nifty Bank slipped 0.48% to 57,685.75. India VIX, the fear gauge, rose 2.37% to 12.97, hinting at slightly higher caution.
| Index | Value | Change |
|---|---|---|
| GIFT Nifty | 24,084 | +0.40% |
| Nifty 50 | 24,013.10 | -0.64% |
| Sensex | 76,802.90 | -0.78% |
| Nifty Bank | 57,685.75 | -0.48% |
2. FII/DII Activity
Foreign institutional investors stayed on the sell side, offloading equities worth about ₹1,025 crore (net) in the latest cash-market session, while domestic institutional investors absorbed the pressure with net buying of roughly ₹3,517 crore. The DII cushion has been a recurring theme through June, repeatedly limiting downside even as FIIs trimmed exposure.
| Participant | Net Cash (₹ Cr) |
|---|---|
| FII | -1,025 |
| DII | +3,517 |
3. Top Gainers / Top Losers
Defensive and rate-sensitive names held firm against the IT storm.
| Top Gainers | Top Losers |
|---|---|
| Eternal +2.05% | Infosys -7.9% |
| Bharti Airtel +1.71% | TCS -5.9% |
| Power Grid +1.35% | Tech Mahindra -4.8% |
| Nestle India +1.22% | HCL Technologies -2.2% |
| NTPC +1.05% | Mahindra & Mahindra -1.8% |
4. Sector Performance
The Nifty IT index crashed nearly 6% — its sharpest fall in years — after Accenture cut its FY27 revenue growth guidance to 3-4% from an earlier 3-5%, rattling sentiment across Indian software exporters. Money rotated into defensives: power, telecom, FMCG and healthcare ended higher. Banking was mixed, with ICICI Bank firm while HDFC Bank and Kotak Mahindra Bank lagged. The broader Nifty Midcap 100 bucked the trend, edging up 0.22%.
5. Commodity Watch
Brent crude steadied near $80 a barrel but was set for a weekly drop of roughly 8.5% as the US-Iran interim peace deal eased Strait of Hormuz supply fears. Softer oil is a clear macro tailwind for import-heavy India. Gold and silver saw profit-taking after their recent run-up.
6. Currency Watch
The rupee has firmed toward the 94/$ zone in recent sessions, supported by falling crude and easing geopolitical risk. Traders see 95.00-95.30 as near-term resistance for USD/INR, with scope to test 94.00-93.80 if foreign inflows pick up. The dollar index hovered near 99.5.
7. Global Market Cues
Wall Street offered support, with the Nasdaq surging about 1.9%, the S&P 500 up around 1.1% and the Dow flat-to-positive. European markets were mixed, with the DAX higher and the FTSE 100 marginally lower. Asian cues were softer, as the Hang Seng fell while Japan’s Nikkei eked out a small gain.
| Index | Change |
|---|---|
| Nasdaq | +1.86% |
| S&P 500 | +1.06% |
| Dow Jones | +0.14% |
| DAX | +0.40% |
| FTSE 100 | -0.16% |
8. Conclusion
A positive GIFT Nifty and firm US close point to a steady-to-higher open, but the Accenture-driven IT overhang could keep software stocks volatile. Watch whether IT heavyweights stabilise, how FIIs position against steady DII buying, and the crude-rupee tailwind. Stock-specific action and sector rotation are likely to dominate over a one-way index move.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Investments in securities markets are subject to market risks; read all related documents carefully before investing. Please consult a SEBI-registered investment adviser before making any financial decisions.
