The stock market is expected to open higher on Tuesday, June 10, supported by positive signals from global markets and continued investor confidence at home. The Sensex and Nifty are likely to extend their gains, helped by improving hopes around global trade discussions and the Reserve Bank of India’s (RBI) policy measures.
According to early trends, the Gift Nifty futures were trading at 25,247 as of 7:59 am. This suggests that the Nifty 50 will open above its Monday closing level of 25,103.20, pointing to a firm start to the session as several stocks are expected to remain in focus.
TECHNICAL LEVELS FOR NIFTY
Market expert VLA Ambala, Co-Founder of Stock Market Today, said that the Nifty is expected to stay above its immediate support zone, which lies between 24,600 and 24,800.
“We can expect the Nifty to get support between 25,030 and 24,980. Resistance is likely near 25,230 and 25,320 in today’s trade,” Ambala said.
On Monday, both benchmark indices rose for the fourth day in a row. The Nifty ended at its highest closing level of 2025 so far, gaining 2.3% over the past four sessions. The rally has been fuelled by strong domestic buying and easing concerns in global markets.
POSITIVE GLOBAL CUES
Other Asian stock markets also opened higher today. The MSCI Asia ex-Japan index went up by 0.5%, showing strong investor interest in regional stocks. Wall Street equities in the US closed mostly higher on Monday night, as investors welcomed the start of trade talks between the United States and China.
The talks, being held in London, aim to ease the trade tensions that have caused uncertainty in financial markets for much of the year. Reports suggested that the early feedback from the discussions has been encouraging. US President Donald Trump said he had received “good reports” on the progress of the negotiations.
SUPPORT FROM RBI AND INVESTORS
The market also got a boost from the RBI’s support measures and steady buying by both foreign and domestic investors. Data from Monday showed that foreign portfolio investors (FPIs) were net buyers of Indian shares worth Rs 1,993 crore. Domestic institutional investors (DIIs) also remained active buyers, with net purchases worth Rs 3,504 crore.
This strong participation has played a key role in lifting market sentiment over the past few sessions.
Looking ahead, analysts expect strong interest in certain sectors. “Judging by the prevailing sentiment, I suggest maintaining overweight positions in sectors such as Consumption, IT, Pharma, Energy, Banks, and Financial Services,” said Ambala.
She also said that small-cap stocks may do better than Nifty during June, offering trading opportunities for investors.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Must Watch
advertisement