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  1. NIFTY50, SENSEX today: Asian market cues, FII activity, key things to know before markets open on June 29

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NIFTY50, SENSEX today: Asian market cues, FII activity, key things to know before markets open on June 29

SUMMARY

FIIs bought shares worth ₹383.76 crore on Friday while domestic institutional investors bought stocks worth ₹5,747.75 crore, as per NSE data.

Buzzing stocks, NIFTY50, SENSEX

FIIs have so far this year sold shares worth ₹2,77,954 crore. | Image: Shutterstock

The Indian equity benchmarks are set to open lower on Monday, June 29, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Gandhinagar declined 7 points to 24,095 amid weak cues from Asian markets.

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The Indian equity benchmarks rose for a second straight session on Thursday but came off intraday highs to end on a flat note as investors booked profits near day's highs ahead of the long weekend.

The SENSEX ended 109 points or 0.14% higher at 77,100 and NIFTY50 index advanced 34 points or 0.14% to close at 24,056.

Asian markets

Most of the Asian markets were trading lower on Monday as tensions resurfaced between United States and Iran sending crude oil prices higher and US dollar to near a one-year high.

A return to diplomacy in the Middle East would follow several days of tit-for-tat strikes since an Iranian projectile hit a cargo vessel in the Strait of Hormuz last week, with both sides accusing each other of breaking an interim ceasefire, news agency Reuters reported.

Japan's Nikkei fell 0.6%, China's Shanghai Composite declined 0.5% and South Korea's KOSPI fell 2%.

Crude oil update

Crude oil prices edged higher in global markets after news agency AP reported that Iran again launched drone and missile attacks targeting Bahrain and Kuwait on Sunday following new U.S. airstrikes against the Islamic Republic, and threatened a “complete halt” in negotiations to end the war if Washington continues its attacks.
Efforts to reopen the Strait of Hormuz without Iran’s oversight has sparked days of crossfire. A multinational maritime body overseen by the US Navy said on Saturday it would expand a route near Oman for inbound and outbound traffic, the AP report added.

FII/DII activity

Foreign institutional investors (FII) bought shares worth ₹383.76 crore on Friday while domestic institutional investors bought stocks worth ₹5,747.75 crore, as per NSE data.

FIIs have so far this year sold shares worth ₹2,77,954 crore, data from National Securities Depository Limited (NSDL) showed.

Stocks to watch

REC, PFC: Shares of PFC and REC Ltd will be in the spotlight on Monday, June 29, as the boards of state-owned Power Finance Corporation (PFC) and REC Ltd have approved a scheme of merger under which REC will be amalgamated with PFC, creating a power sector financing entity with a combined loan book of more than ₹11 lakh crore. READ MORE
Persistent Systems: Persistent Systems on Saturday said it will take over German digital engineering company Nagarro, a move that will create a global AI-led digital engineering powerhouse with USD 2.9 billion in revenue run-rate.

Persistent and Nagarro are a "perfect strategic fit", combining Persistent's AI-led engineering leadership, North American scale and partnership depth with Nagarro's European business, complementary verticals, AI expertise, and ERP and CX (customer experience) delivery, according to a release.

The combination would be a $2.9 billion AI-led engineering juggernaut with 46,000-plus employees in more than 40 countries, including about 37,000 in India, nearly 3,500 in North America, and around 3,000 in Europe, the release said.

"Galaxy Germany Holding SE, a wholly-owned direct subsidiary of Persistent Systems Limited, today announced a voluntary public takeover offer for all outstanding shares in Nagarro SE at a cash consideration of EUR 81 per share," it said.

Prestige Estates Projects: Realty firm Prestige Estates Projects Ltd has around ₹65,000 crore of unrecognised revenue in its account, driven by strong sales of its housing properties during the last three financial years.

Prestige Estates achieved record sales bookings of ₹30,024 crore during the 2025-26 fiscal, up 76% from the preceding year.

In an interview with PTI, Prestige Estates Chairman Irfan Razack said, "We have got about ₹65,000 crore of unrecognised revenue in the books. It is not a small amount".

He mentioned that the company follows the completion method for recognition of revenues. This means that revenue gets recognised once the real estate project gets completed.

Kotak Mahindra Bank: Kotak Mahindra Bank on Saturday said its MD and CEO Ashok Vaswani will quit upon completion of three-year tenure and will not seek re-appointment when his current term ends on December 31, 2026.

Veteran banker Vaswani assumed charge as the managing director (MD) and CEO of the bank on January 1, 2024. He had worked with Barclays and Citigroup previously.

Ashok Vaswani, Managing Director & CEO of the bank, has informed the board that, for personal reasons, he does not wish to seek re-appointment upon completion of his current term on December 31, 2026, Kotak Mahindra Bank said in a regulatory filing.

HDFC Bank: HDFC Bank has said an independent legal review conducted by two external law firms found no evidence to substantiate concerns raised by former chairman Atanu Chakraborty in his resignation letter or subsequent public statements.

The bank said the review, announced on March 24, examined whether any concerns flagged by Chakraborty were evident from the records, whether he had recorded any dissent during his tenure, and whether such dissent, if any, had been addressed.

Chakraborty resigned as chairman of the country's second biggest lender, HDFC Bank, citing ethical concerns. This was the first time that a part-time chairman of HDFC Bank left mid-way, raising concerns over its functioning.

Adani Green Energy: Adani Green Energy (AGEL) share price is set to be in focus of the stock market investors on Monday, June 29, after the renewable energy company operationalised its 150 megawatt (MW) solar power project at Khavda, Gujarat, according to an exchange filing.

In the NSE filing, the company also said that with the 150 MW capacity operationalisation to its existing capacity, Adani Green Energy’s total operational renewable generation capacity hit 19,985.8 MW or nearly 20 gigawatts (GW).

Pricol: Pricol Ltd’s board of directors, during their meeting on Saturday, June 27, approved that the company’s key segment, Driver Information & Connected Vehicle Solutions (DICVS) business, will be demerged into Pricol Autotech, according to an exchange filing.
As per the NSE filing, Pricol Limited will be demerged into the company and Pricol Autotech, subject to the receipt of all the necessary approvals from the market regulators, stock exchanges, the National Company Law Tribunal, and existing shareholders.
Waaree Energies: The company said that after conducting an on-site verification of its manufacturing facility in India, the CBP confirmed that Waaree did not export solar modules manufactured using Chinese-origin solar cells to the United States.

It also acknowledged the company's full cooperation during the investigation and declined the petitioner's request to extend any evasion finding to all of Waaree's imports.

According to Waaree, the CBP's determination is limited to a narrow subset of certain historical import entries and does not constitute a final adjudication.

The company added that it has the right to seek a de novo administrative review, followed by judicial review before the U.S. Court of International Trade. It is currently evaluating all available legal remedies in consultation with its US trade counsel.

With inputs from PTI
Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

About The Author

Abhishek Vasudev.jpg
Abhishek Vasudev is a business journalist with over 15 years of experience covering business and markets. He has worked for leading media organisations of the country.

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