Opening Bell: GIFT Nifty indicates weak opening for Sensex, Nifty; Torrent Power, ICICI Bank, Asian Paints, NTPC shares in focus

The Indian benchmark indices, the BSE Sensex and the NSE Nifty, are poised for a weak start on Friday, tracking negative cues from the GIFT Nifty. This comes as the Asian markets fell amid escalated geopolitical tensions in the Middle East, particularly after reports of Israeli airstrikes on Iran, subdued U.S. economic data, and institutional flows. At 7:50 AM, the GIFT Nifty futures were trading 213.5 points, or 0.86%, lower at 24,711.5, indicating a gap-down start for the domestic bourses.

The domestic market will also react to CPI inflation data for May which eased further to a 75-month low of 2.82% YoY, driven primarily by easing food prices and a favourable base effect. This will further offer room for the Reserve Bank of India to lower interest rates in the coming months.

Among others, investors will be closely watching crude oil prices, which spiked due to the Middle East tensions, which could potentially impact domestic oil refining companies. Besides, aviation stocks InterGlobe Aviation , which operates IndiGo, and SpiceJet will be in focus after an Air India plane crashed shortly after take-off near the Sardar Vallabhbhai Patel International Airport in Ahmedabad on Thursday.

On Thursday, both the Sensex and the Nifty ended sharply lower, falling by 1% each amid broad-based selling across indices. The 30-share Sensex ended at 81,691.98, down by 823.16 points, or 1%, while the NSE Nifty50 breached the crucial 25,000-mark for the first time since June 5, closing at 24,888.2, down by 253.2 points, or 1.01%. The broader market also saw a surge in selling activity, with the Nifty Midcap100 and Nifty Smallcap100 index falling by 1.73% and 1.90%, respectively.

U.S. stocks end higher; Oracle surges 13%  

In overnight trade, Wall Street ended on a positive note, aided by a rally in Oracle shares and the tech sector, while investors reacted to fresh inflation data. Shares of computer technology company Oracle rallied over 13% after it reported better-than-expected fourth quarter results and indicated more cloud growth ahead. The S&P 500 rose 0.38%, the Dow Jones Industrial Average gained 0.24%, and the Nasdaq Composite added 0.24%.

Asian stocks fall on geopolitical concerns

In the Asia-Pacific region, all the major markets were reeling under selling pressure amid heightened tensions in the Middle East after Israeli airstrikes targeted nuclear facilities in Iran. Investors monitored developments in Iran and trade talks between the US and China.

Japan’s Nikkei 225 index was the worst performer in the region with a 1.35% loss, followed by South Korea’s Kospi, which slid 1.3%. Hong Kong’s Hang Seng was down 0.8%, China’s Shanghai Composite declined 0.65%, and Singapore’s Straits Times plunged 0.45%. Among others, Taiwan Weighted index, Indonesia’s Jakarta and Australia’s ASX 200 also witnessed selling pressure, falling by up to 0.4%.

Stocks to watch

Torrent Power:  The Ahmedabad-based power company’s fully-owned subsidiary, Torrent Green Energy, has secured a 300 MW wind power project from the Solar Energy Corporation of India (SECI).

ICICI Bank:  The Reserve Bank of India has approved the reappointment of Rakesh Jha as the bank's executive director for a two-year term, effective September 2.

Asian Paints:  Reliance Industries Limited (RIL), through Siddhant Commercials Limited, sold around 3.5 crore equity shares of Asian Paints, at a price of ₹2,201 per share.

DCM Shriram:  The board of the company has given the nod to acquire the entire 100% stake in Hindusthan Specialty Chemicals.

HCLTech:  The IT major has bagged a deal from Swedish luxury automaker Volvo Cars as one of its strategic suppliers for engineering services.

NTPC:  The company has successfully completed the trial run of Unit-3 (660 MW) of the Barh Super Thermal Power Project, Stage-1 (3x660 MW).

Canara Bank:  The public sector lender’s board has given the green light to a capital raising plan of up to ₹9,500 crore through bonds for FY26.

Capri Global Capital:  The non-banking financial company has raised ₹2,000 crore through qualified institutional placement (QIP).

Crompton Greaves Consumer Electricals:  The company has secured an order from the Maharashtra Energy Development Agency (MEDA) for the supply and installation of 4,500 off-grid solar photovoltaic water pumping systems across the state.

ONGC:  The state-owned oil and gas major on Thursday reported a gas release incident at its Rudrasagar field in Sivasagar district, Assam.

Oswal Pumps IPO: The three-day public issue of the solar pump manufacturer will open for subscription on June 13.

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