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Indian markets are likely to open on a soft note on Thursday, tracking weak global cues and continued foreign investor outflows. GIFT Nifty futures traded lower by 32.50 points or 0.13 per cent at 25,169.50 as of early morning trade, signaling a mildly negative start for domestic equities.

Despite a weak start, analysts continue to advocate a buy-on-dips strategy. The Nifty 50 is likely to find immediate support at 24,850, and as long as this level holds, the trend remains positive. Resistance is seen at 25,350, and a decisive break above this could trigger fresh upside.

The India VIX, a key indicator of market volatility and investor sentiment, declined 2.5 per cent to settle at 13.67, reflecting reduced fear among market participants and a stable undertone ahead of key global events.

On Wall Street, the S&P 500 fell 0.27 per cent, the Nasdaq declined 0.50 per cent, and the Dow Jones ended flat as tensions in the Middle East unnerved investors. US inflation data, however, was softer than expected, raising hopes of a rate cut by the Fed.

In Asia, markets opened on a mixed note. Hang Seng futures fell 0.4 per cent, Japan’s Topix was flat, and Australia’s ASX 200 showed little movement. Euro Stoxx 50 futures dipped 0.5 per cent.

Gold prices rose, supported by escalating geopolitical tensions and weak inflation data. Similarly, crude oil prices climbed to their highest level in over two months amid concerns over potential supply disruptions due to the US troop movements in the Middle East.

The US dollar slid as rate cut expectations rose and concerns over Trump’s tariff stance intensified. The Indian rupee appreciated by 4 paise to 85.53 against the greenback, aided by broad dollar weakness and improved risk appetite.

Foreign Institutional Investors (FIIs) net sold equities worth Rs 446 crore on Wednesday, while Domestic Institutional Investors (DIIs) provided some support, buying Rs 1,585 crore worth of shares. In the futures segment, FII net shorts reduced to Rs 86,594 crore, down from Rs 93,024 crore a day earlier.

The following stocks are under the F&O ban for June 12:

IREDA

CDSL

ABFRL

Chambal Fertilisers

Hindustan Copper

RBL Bank

Titagarh

IEX

These stocks crossed 95 per cent of the market-wide position limit, restricting fresh positions in the derivatives segment.

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