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Pre-Market Setup (June 6): Indian equities are expected to open on a muted note Friday, tracking cautious global sentiment and slightly lower cues from GIFT Nifty. As per data available on NSE IX, the GIFT Nifty was trading 12.5 points or 0.05 per cent lower at 24,842 around 7:10 am, indicating a flat-to-slightly-weak open for the benchmark indices.

On Thursday, Indian markets closed in the green for the second session in a row, lifted by optimism around a potential interest rate cut from the Reserve Bank of India and firm global markets. The Nifty and Sensex ended higher, supported by buying in rate-sensitive sectors and midcaps. Analysts expect a consolidation phase with positive undertone, especially if 24,500 continues to act as a strong support.

Technical analysts believe the index is holding firm above its immediate support at 24,500. A fall below this level could trigger a deeper correction, but as long as it sustains, chances of a rebound remain high. Volatility eased further as India VIX slipped 4.2 per cent to settle at 15.08, reflecting calm across broader markets.

Overnight, US markets ended in the red. Tesla’s sharp slide weighed on Nasdaq, even as there were some positive developments on US-China trade talks.

Dow Jones closed 0.25 per cent lower

S&P 500 lost 0.53 per cent

Nasdaq slipped 0.83 per cent

Japan’s Topix rose 0.4 per cent

Australia’s ASX 200 gained 0.2 per cent

Hang Seng futures inched up 0.1 per cent

Euro Stoxx 50 futures were flat

Foreign Institutional Investors (FIIs) net sold shares worth Rs 208 crore, while Domestic Institutional Investors (DIIs) were net buyers at Rs 2,382 crore—providing strong support to the market.

In the derivatives market, FIIs increased their net short positions further from Rs 1.02 lakh crore to Rs 1.06 lakh crore, signaling hedging ahead of macro triggers.

Three stocks are in the F&O ban list today—Manappuram Finance, Aditya Birla Fashion & Retail, and Chambal Fertilisers—as their open interest crossed 95 per cent of the market-wide position limit.

GIFT Nifty indicates muted start

Strong DIIs offset FII selling

Nifty holds crucial 24,500 support

All eyes on US jobs data and RBI policy tone

Volatility remains under control

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