Stock markets on June 12: Here are key things that changed for markets overnight

The Indian equity benchmarks are set to open on a flat note ahead of weekly expiry of NIFTY50 futures and option contracts as indicated by NIFTY futures traded at Gift City in Ahmedabad. NIFTY futures at Gift City was trading 8 points higher at 25,209 as of 9:22 am amid weak cues from global markets. In yesterday's session, SENSEX and NIFTY50 indexes logged in sixth straight session of gains powered by gains in IT shares such as Infosys, HCL Tech and Tata Consultancy Services.

US markets

Wall Street’s rally stalled on Wednesday after U.S. stocks climbed back within 2% of their all-time high.

The S&P 500 fell 0.3% for its first loss in four days. The Dow Jones Industrial Average was virtually unchanged after edging down by 1 point, and the Nasdaq composite slipped 0.5%.

Asian markets

Most of the Asian markets were trading lower taking cues from weak closing of US markets. Japan's Nikkei fell 0.73%, China's Shanghai Composite declined 0.06%, Hong Kong's Hang Seng fell 0.6% while South Korea's KOSPI rose 0.6%.

Analysts said that market participants were awaiting more details on trade deal between US and China.

President Donald Trump announced Wednesday that China will make it easier for American industry to obtain much-needed needed magnets and rare earth minerals, clearing the way for talks to continue between the world’s two biggest economies. In return, Trump said, the U.S. will stop efforts to revoke the visas of Chinese nationals on U.S. college campuses, news agency AP reported.

Expiry day trade set up

NIFTY50

On technical charts, the index has formed a doji pattern, indicating a reversal from the current uptrend in the index. However, experts believe a closing below yesterday’s low could confirm the reversal on charts.

On the options front, the 25,500 calls hold the highest open interest for today’s expiry, and the 25,000 put holds the highest open interest on the downside, indicating strong support at these levels.

Traders with bullish sentiment can execute a long call strategy by buying 25,100 calls. The strategy would turn profitable after the index moves above 25,183.

FII/DII activity

Foreign institutional investors (FIIs) sold shares worth ₹446 crore on Wednesday while domestic institutional investors bought shares worth ₹1,585 crore.

FIIs bought index futures worth ₹1,246 crore and bought index options worth ₹56,947 crore.

Block deals on June 11

According to the block deal data on the NSE, promoter entity Azim Premji Trust sold a total of 18.05 crore equity shares, or 1.72% stake in Bengaluru-based Wipro. The transaction, valued at around ₹4,674.77 crore, was executed at an average price of ₹258.99 per share.

According to the block deal data available on the NSE, OrbiMed, through its arm OrbiMed Asia IV Mauritius FVCI, sold more than 1.02 crore equity shares, or a 2.27% stake, in Marksans Pharma.

Stocks to watch

The changes include a downward revision of External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR) by 50 basis points, the Union Bank said in a statement.

With this move, Union Bank of India has completely aligned its EBLR and RLLR with the recent RBI rate cut, which will be beneficial to new and existing retail (home, vehicle, personal, etc.) and MSME borrowers, it said.

Asset Liability Management Committee (ALCO), in its meeting held on Wednesday, has approved a reduction of Repo Linked Lending Rate by 50 basis points from 8.85 per cent to 8.35 per cent effective Thursday, IOB said in a statement.

Canara Bank has announced a reduction in RLLR from 8.75 per cent to 8.25 per cent following the Reserve Bank of India (RBI) decision, the bank said in a statement.

Motilal Oswal Mutual Fund (MF), Edelweiss MF, HSBC MF, LIC MF, New York State Teachers Retirement System, Dublin-based Mediolanum International Funds, Manulife Investment Management, Nordea Asset Management and Eaton Vance were among the buyers of Aditya Birla Capital's shares, as per the block deal data on the BSE and NSE.

Eaton Vance is part of the Morgan Stanley Investment Management (MSIM). It is an asset management division of US-based Morgan Stanley.

The investment is part of HCL's broader plan to triple its ore production capacity from the current 4 million tonnes per annum (MTPA) to 12.2 MTPA by FY2030-31.

However, this capital expenditure excludes the development of the Rakha and Chapri mines in Jharkhand, which are being revived through a Public-Private Partnership (PPP) model.

This facility underwent an inspection from 10th to 14th March 2025, and the inspection has been classified as No Action Indicated (NAI). The USFDA has concluded that this inspection is “closed”, it said.

Bharat Sanchar Nigam Limited (BSNL) awarded the project to the consortium for designing, supplying, constructing, installing, upgrading, operating and maintaining the middle-mile network under BharatNet for the telecom circles in Jammu & Kashmir and Ladakh, Sterile Tech said in a regulatory filing.

MCX shares will be in focus, as recently the commodity exchange itself received SEBI's approval to launch electricity derivatives.

The launch aims to provide market participants with effective hedging tools against electricity price volatility, enable more accurate price signals in the power sector and encourage capital investments across the electricity value chain – generation, transmission, distribution, and retail.