Stock market, June 16: Here are 5 things to know before market opens

The Indian equity benchmarks are set to open higher as indicated by NIFTY futures traded at Gift City in Ahmedabad. NIFTY futures at Gift City also known as Gift NIFTY futures rose 0.3% or 65 points to 24,804 amid mixed cues from Asian markets.

Asian markets

Asian markets were trading on a mixed note as Japan's Nikkei and South Korea's KOSPI rose 0.94% and 0.71% respectively while Hong Kong's Hang Seng fell 0.12% and Taiwan Weighted declined 0.60%.

Crude oil price surges

Brent crude futures rose 1% to $75 per barrel after Israel and Iran targeted energy infrastructure. Over the weekend, Israel launched a wave of coordinated airstrikes on Iran, hitting key energy facilities in and around Tehran.

The Shahran fuel depot in northern Tehran, a vital distribution point supplying around 8 million litters of gasoline daily, was set ablaze in a series of explosions. The city’s Shahr Rey oil refinery—one of the country’s largest—was also struck, sparking massive fires and raising fears of fuel shortages in the capital, Oilprice.com reported.

FII/DII activity

Foreign institutional investors sold shares worth ₹4,812 crore in cash segment while domestic institutional investors bought shares worth ₹3,041 crore.

In futures and option segment, FIIs sold index options worth ₹776 crore and sold index options worth ₹1,429 crore on Friday.

Stocks to Watch

According to a PTI report, the company will soon launch an 18-acre project, 'DLF Privana North', in Sector 76/77 Gurugram, comprising more than 1,150 apartments.

The estimated cost of developing this project is around ₹5,500 crore, they added. This upcoming project is part of its 116-acre township, 'DLF Privana'.

In FY25, Tata Steel produced 30.92 million tonnes of steel out of its total capacity of 35 million tonnes spread over India, the UK, the Netherlands and Thailand.

This will help ITC to expand its play in the fast-growing organic food products segment.

“The company has completed the acquisition of 100% of the share capital of SNBPL on June 13, 2025,” ITC said in a regulatory filing.

On conclusion of the inspection, the company received one observation in the Form 483.

"The company believes that the observation is procedural in nature. The company is confident to address this observation comprehensively. The company remains committed to being cGMP compliant and in supplying high-quality products to its customers and patients globally," the filing added.

The US Food and Drug Administration (USFDA) conducted a good manufacturing practices (GMP) inspection at the Halol facility from June 2-13, 2025, the Mumbai-based drug maker said in a regulatory filing.

At the conclusion of the inspection, the USFDA issued a Form-483 with 8 observations, it added.

As per the USFDA, Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

Trade setup

NIFTY50

On technical charts, the index closed below the crucial support level of 21 EMA at 24,778, changing the outlook from slightly bullish to bearish. In the extreme volatility scenario, the 200 EMA level of 23,934 should be a key level to watch out for in the coming week.

On the options front, the 19th June expiry indicates resistance at 25,000, with the highest interest on the call side. On the downside, the 24,500 puts hold the highest open interest, indicating support for the current weekly expiry.

SENSEX

SENSEX closed 1030 points or 1.3% lower in the previous week, owing to weak global market cues and strong resistance at the higher levels of 82,500. The index has failed to break the 82,500 resistance level for the fifth consecutive week. Experts believe, selling pressure at higher levels remains a key hurdle for the index’s rally towards record high levels.

On the technical level, the index has closed below the 21 EMA levels of 81,468. However, traders see 50 EMA as the next crucial support for the current week and in the near term 200 EMA level of 78,500.

On the options data front, 82,000 calls hold the highest open interest for the 17th June expiry, indicating a crucial resistance at these levels. On the downside, the 81,000 puts hold the highest open interest, indicating nearest support for the index.