Stock market on June 19: Here are 5 things to know before opening bell

The Indian equity benchmarks are set to open lower as indicated by NIFTY futures traded at Gift City in Ahmedabad. NIFTY futures at Gift City also known as Gift NIFTY futures fell 0.11% or 25 points to 24,785 amid weak global cues after the US Federal Reserve kept interest rates unchanged and flagged inflation concerns going ahead.

Global markets

Most of the Asian markets were trading lower after Federal Reserve kept its key rate unchanged on Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year.

Japan's Nikkei fell 0.75%, China's Shanghai Composite declined 0.4%, Hong Kong's Hang Seng fell 0.73% and South Korea's KOSPI fell 0.5%.

Overnight, US stocks drifted to a mixed finish on Wednesday after the Federal Reserve indicated it may cut interest rates twice this year, though it’s far from certain about that.

The S&P 500 finished nearly unchanged and edged down by less than 0.1% after flipping between modest gains and losses several times. The Dow Jones Industrial Average dipped 44 points, or 0.1%, and the Nasdaq composite rose 0.1%.

US Fed leaves rates unchanged

The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year.

The Fed’s policymakers signalled they still expect to cut rates twice this year, even as they also project that President Donald Trump’s import duties will push inflation higher. They also expect growth to slow and unemployment to edge up, according to their latest quarterly projections released Wednesday.

Fed policymakers had cut their rate three times late last year but have since have been on hold. Inflation has cooled steadily since January, but Fed Chair Jerome Powell said at a news conference that tariffs are likely to reverse that progress and push inflation higher in the coming months. The Fed expects the bump to inflation will be temporary, but they want to see more data to be sure, news agency AP reported.

Israel-Iran conflict update

President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites as the Israel-Iran conflict entered its seventh day on Thursday, according to news agency Reuters.

Iranian Supreme Leader Ayatollah Ali Khamenei, 86, rebuked Trump in a recorded speech played on television, his first appearance since Friday.

The Americans "should know that any U.S. military intervention will undoubtedly be accompanied by irreparable damage," he said. "The Iranian nation will not surrender."

FII/DII activity

The foreign institutional investors bought shares worth ₹891 crore on Wednesday while domestic institutional investors purchased shares worth ₹1,091 crore.

In the derivatives segment, FIIs bought index futures worth ₹44 crore and sold index options worth ₹13,869 crore.

NIFTY50 expiry trade setup

On technical charts, the index formed an inverted hammer pattern, adding some hopes for a reversal. However, the outlook remains negative due to weak global market cues. The index held the support of the 21 EMA again on Wednesday. Experts believe the index may trade in red on Thursday.

On the options data front, the 25,000 calls hold the highest open interest, indicating the resistance level for today’s expiry. Similarly, on the downside, 24,500 puts hold the highest open interest, indicating strong support for the markets.