By Kanishka Sarkar Jun 26, 2023 9:01:07 AM IST (Published)
Indian benchmark indices — Sensex and Nifty 50 — were set for a muted open on June 26, on the heels of their first weekly loss in over a month, as crude prices rose on supply concerns after a short-lived mutiny by mercenaries in Russia.
India's NSE stock futures listed on the Singapore Exchange were up 0.02 percent at 18,718, as of 07:48 am.
Last week, the blue-chip Nifty 50 index consolidated just shy of record levels, while the S&P BSE Sensex eased after hitting an all-time high, weighed down by hawkish central bank commentary.
The US market slipped on Friday with all of the three indices ending low between 0.5 to 1.2 percent. The dollar index sped toward the $103 mark.
However, it must be noted markets are seeing a bit of profit booking from actual record closing levels and the Nifty 50 coming within a point of a record high in last week's trading session. The small-cap and mid-cap indices also saw some profit booking during the week.
The next support for Nifty 50 is seen as a 20-day exponential moving average at 18,642. Last week, the Nifty broke four weeks of consecutive weekly gains to end low by close to percent.
Also, this will be a truncated week as the market will be closed on June 28.
Three IPOs including Ideaforge Technology, Cyient DLM and PKH Ventures will open up for subscription this week.
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