GIFT Nifty Signals Cautious Start For Sensex, Nifty Amid Global Tech Selloff | June 24, 2026

GIFT Nifty pointed to a subdued opening for the domestic market on Wednesday, with contracts trading around 23,874, about 21 points above the previous close of Nifty futures. The indication comes after a sharp decline in benchmark indices on Tuesday and amid mixed signals from overseas markets.

The Sensex had fallen 893.39 points to close at 76,200.68, while the Nifty 50 settled 278.80 points lower at 23,824.10 in the previous session.

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GIFT Nifty Hints At Mild Gains

Early trends in GIFT Nifty suggested a marginally positive start for Indian equities, although global sentiment remained cautious after losses in U.S. technology and semiconductor stocks.

South Korea’s Kospi rebounded 3.65% after witnessing a 10% decline a day earlier. Japan’s Nikkei 225 slipped 0.52%, while the Topix index was down 0.41%. Hong Kong futures pointed to a stronger opening.

Wall Street Ends Lower

U.S. equities closed in negative territory on Tuesday as technology shares came under pressure. The Nasdaq Composite was down 2.21% at 25,587.04 and the S&P 500 lost 1.44% to 7,365.47. The Dow Jones Industrial Average fell 47.22 points to 51,665.49.

Chipmakers led the decline. Micron Technology plunged 13.18%, Intel fell 6.14%, AMD lost 5.76%, and Nvidia declined 4.15%. Tesla dropped 5.79%, while Microsoft gained 1.80%.

Crude Oil Extends Decline

Crude oil prices remained under pressure as tanker movement through the Strait of Hormuz increased and diplomatic engagement between the U.S. and Iran continued.

Brent crude slipped 0.99% to $76.32 per barrel, while West Texas Intermediate crude fell 1.05% to $72.44. Lower oil prices are being closely tracked by investors due to their impact on India’s inflation and external balances.

Dollar Strength And Precious Metals

The U.S. dollar index climbed to 101.39, its highest level in more than a year. The euro weakened to $1.138 and the British pound slipped to $1.3187.

Gold prices continued to retreat, with spot gold falling 0.8% to $4,083.77 an ounce. Silver declined 1.1% to $60.86 per ounce.

Other Key Developments

Progress in discussions between Washington and Tehran remained in focus after both sides indicated movement toward a broader agreement. Separately, U.S. Deputy Assistant Secretary Bethany Poulos Morrison said, as quoted by ANI, that the U.S. and India were “very, very close” to concluding a trade agreement.

Meanwhile, minutes from the Bank of Japan’s June meeting showed some policymakers favouring additional rate hikes, while Japan’s services producer price index rose 3.3% year-on-year in May.

With GIFT Nifty indicating a modest premium and crude oil prices easing further, investors will continue to monitor global risk sentiment and developments in overseas markets for direction during Wednesday’s session.