GIFT Nifty Signals Firm Start For Markets As Crude Stays Below $80 | June 17, 2026

GIFT Nifty pointed to a positive opening for Indian benchmark indices on June 18, extending the momentum seen in recent sessions. The early indicator for the Nifty 50 was trading at 24,042.50, suggesting a steady start for domestic equities despite mixed cues from Asian markets.

Indian equities ended higher for a third straight session on Tuesday. The Nifty 50 gained 135.25 points, or 0.57%, to settle at 23,989.15, while the Sensex advanced 544.15 points, or 0.71%, to close at 76,808.48. The gains came amid heightened activity ahead of the derivatives expiry.

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GIFT Nifty Remains Above Key Level

The GIFT Nifty’s position above the 24,000 mark reflects continued optimism in domestic markets after benchmark indices ended near record territory in the previous session.

Market participants are also tracking global developments, including movements in crude oil prices and the outcome of the U.S. Federal Reserve’s policy meeting scheduled later in the day.

Oil Prices Recover After Recent Slide

Crude oil prices edged higher after touching their lowest levels in nearly three months. Brent crude futures for August delivery rose 0.7% to $79.49 per barrel during Asian trading hours, while U.S. West Texas Intermediate crude for July delivery gained 0.7% to $76.61 per barrel.

The recovery followed a sharp decline in recent sessions as investors assessed the possibility of increased crude supplies if an agreement involving the U.S. and Iran leads to smoother energy flows through the Strait of Hormuz.

Despite the rebound, Brent crude continued to trade below the $80-per-barrel mark, a level closely watched by energy-importing economies such as India.

Asian Markets Trade Lower

Asian equities traded cautiously on Wednesday ahead of the U.S. central bank’s policy announcement.

South Korea’s Kospi declined 0.93%, making it the weakest major market in the region. Japan’s Nikkei 225 slipped 0.06%, while Australia’s ASX 200 eased 0.05%.

The muted trend reflected investor caution as global markets awaited clarity on interest rates and the Federal Reserve’s assessment of inflation risks.

Focus On Federal Reserve Decision

The Federal Reserve is widely expected to leave interest rates unchanged at its latest policy meeting. The investor community will pay close attention to the statement and projections by the central bank to get insights into where monetary policy is heading in the coming months. There have been observations from some FOMC members recently expressing apprehensions regarding persistently high inflation levels for longer than estimated.

High energy costs at the beginning of the year and geopolitical developments around the world have meant that there have been risks of inflation. With the indications provided by GIFT Nifty about a positive start and crude costs below $80 per barrel, local investors are likely to be attentive to what happens abroad.