NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on June 23

The Indian equity benchmarks are set to open lower on Tuesday, June 23, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Gandhinagar fell 11 point to 24,112 amid mixed cues from Asian markets.

The Indian equity benchmarks resumed their up move on Monday after a day's pause in Friday's session led by gains in index heavyweight Reliance Industries after market participants gave a thumbs up to proposals unveiled by its management at the company's 49th annual general meeting on Friday.

The SENSEX ended 291 points higher at 77,094 and NIFTY50 index advanced 90 points to close at 24,103.

Asian markets

Asian shares were trading on a mixed note as market participants turned cautious about efforts to end the war in Iran.

Japan's Nikkei fell 1%, China's Shanghai Composite was up 0.04%, South Korea's KOSPI dropped 4% and Hong Kong's Hang Seng declined 0.9%.

Wall Street update

US stocks ended lower on Monday as selloff in big tech stocks weighed on the benchmarks. Dow Jones Industrial Average advanced 0.3%, S&P 500 index fell 0.4% and tech heavy Nasdaq dropped 1.32%.

FII/DII activity

Foreign institutional investors (FII) sold shares worth ₹635.91 crore on Monday while domestic institutional investors bought stocks worth ₹1,035.72 crore, as per NSE data.

FIIs have so far this year sold shares worth ₹2,79,876 crore, data from National Securities Depository Limited (NSDL) showed.

Stocks to watch

The collaboration will explore the adoption of innovative technologies to reduce carbon emissions and enable a transition to low-carbon, future-ready mining.

"Through this MoU (Memorandum of Understanding), Hindustan Zinc is set to pioneer the use of hydrogen fuel for underground mining applications, positioning it to become the only company to deploy this technology in such environments," the company said in a filing to BSE.

Separately, the company announced the resignation of Deputy Managing Director Raman Rajagopalan due to personal commitments that require him to relocate to Chennai. Rajagopalan will be relieved from his duties with effect from July 31, 2026, following approval by the Nomination & Remuneration Committee and the board.

The transaction, including a greenshoe option, is estimated at around ₹484 crore, with the floor price set at ₹9,250 per share, implying a discount to the stock's previous closing price.

The proposed stake sale comes weeks after the company raised nearly ₹2,000 crore through a qualified institutional placement (QIP).

Syrma SGS will hold a 60% stake in the joint venture company (JVCo), and the rest will be held by the Indian arm of Japanese firm Kaga Electronics.

"We would like to inform you that the company has executed an agreement with Kaga Electronics India Private Limited (Kaga) to establish, develop, and operate a technologically advanced, state-of-the-art EMS manufacturing facility together in India, focusing on Japanese clients," the filing said.

VAML officially commenced trading as an independent listed entity on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) from June 15, following the successful completion of Vedanta Group's demerger, which became effective on May 1.

The listing marks a major milestone in the company's evolution, creating a focused, pure-play aluminium business with enhanced strategic flexibility and stronger long-term growth visibility, the company said in a statement.

Vodafone Idea has pinned hope on its target to triple cashflow, as well as on new loans, tax refunds, and fresh capital infusion from promoters to generate over ₹1 lakh crore cash required in the next three years.

The company, in the filing to stock exchanges, stated that its board in a meeting on Monday approved the "allotment of 430 crore warrants to Suryaja Investments Pte Ltd (an Aditya Birla Group entity and a member of the Promoter Group) for cash at an issue price of Rs 11 per warrant, against receipt of 25% of the issue price i.e. ₹2.75 per warrant aggregating to ₹1,182.50 crore".

Trade setup

The NIFTY50 formed a doji candlestick on Monday, erasing Friday’s retreat and signalling a temporary standoff between bulls and bears. Technically, the index is on the cusp of a bullish crossover, with the 20-day EMA poised to cross the 50-day EMA from below. A decisive close above the previous swing high hurdle of 24,168–24,191 would confirm fresh follow-through momentum. On the downside, the 50-day EMA near 23,827 continues to serve as the pivotal floor for the index.

The open interest data for today’s expiry suggests a narrow range of trade between 24,000 and 24,200. The 24,200 calls hold the highest open interest, indicating a near-term strong resistance. On the flipside, 24,000 puts hold the highest open interest with 1.3 crore contracts, indicating a near-term support for the index.