Stock market on June 25: Here are 5 things to know before opening bell

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 103 points or 0.41% to 25,280 amid largely stable cues from Asian markets.

Asian markets

Stocks in Asia opened on a cautious note as the Israel-Iran truce appeared to hold and Federal Reserve Chair Jerome Powell gave balanced comments on prospects for rate cuts, news agency Bloomberg reported.

Japan's Nikkei rose 0.13%, China's Shanghai Composite advanced 0.03%, Hong Kong's Hang Seng advanced 0.79% and South Korea's KOSPI gained 0.43%.

US markets

Overnight, US stocks moved closer to their record highs on Tuesday after oil prices eased further on hopes that Israel’s war with Iran will not damage the global flow of crude.

The S&P 500 climbed 1.1% after President Donald Trump said late Monday that Israel and Iran had agreed to a “complete and total ceasefire.” The Dow Jones Industrial Average jumped 507 points, or 1.2%, and the Nasdaq composite rallied 1.4%.

Crude oil price check

Oil prices edged higher on Wednesday, finding some respite after plummeting in the last two sessions, as investors assessed the stability of a ceasefire between Iran and Israel.

Brent crude futures rose 75 cents, or 1.1%, to $67.89 a barrel. U.S. West Texas Intermediate (WTI) crude gained 71 cents, or 1.1%, to $65.08, Reuters reported.

Brent settled on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13.

FII/DII activity

Foreign institutional investors sold shares worth ₹5,266 crore in cash segment while domestic institutional investors bought shares worth ₹5,210 crore.

In derivatives segment, FIIs sold index futures worth ₹1,458 crore and they also sold index options worth ₹31,805 crore.

Trade setup

On the technical chart, the trade setup for NIFTY50 continues to remain bullish as long as it holds the 25,000 levels. The index formed a shooting star pattern on the daily charts, indicating some reversal and profit booking at higher levels.

On the options data front, the 25,200 calls hold the highest open interest, indicating near-term resistance for the expiry. Similarly, the 25,000 puts hold the highest open interest on the downside, indicating strong support for the current weekly expiry.