Indian markets are set for a sharp gap-down opening today
🌍 Global Market Update
US indices (June 7 close): Nasdaq -4.18% (25,709), S&P 500 -2.64% (7,383), Dow -1.35% (50,867).
Europe (last close): DAX -1.25%, CAC -0.71%, FTSE -0.34%.
Commodities: Brent crude ~$96.4 (+2.5%), WTI ~$92.7 (+2.3%). Gold ~$4,374/oz, Silver ~$68.4/oz.
Indian Market Snapshot
Sensex (June 7 close): 74,243 (-117 pts, -0.16%).
Nifty 50: 23,367 (-50 pts, -0.21%).
GIFT Nifty (today): ~23,096 (-250–356 pts), signaling a gap-down start.
Reason for fall: Global tech selloff, crude spike, Israel–Iran conflict, FII outflows, RBI’s hawkish inflation stance.
💰 FII & DII Activity (June 5, 2026)
FIIs: Net sellers ₹8,776 crore.
DIIs: Net buyers ₹9,134 crore.
Trend:
FIIs selling in IT, PSU banks, index futures.
DIIs supporting banking, FMCG, auto.
Support: 23,000–23,200; Resistance: 23,550–23,600.
🏦 RBI Policy Impact & Expectations
Repo rate: Unchanged at 5.25%.
GDP forecast: Cut to 6.6% (from 6.9%).
Inflation forecast: Raised to 5.1% (from 4.6%).
Impact: Hawkish stance limits rate-cut hopes; crude spike and weak rupee add pressure.
Expectation: RBI may maintain pause but could tighten if inflation worsens.