Indian equity indices are expected to open on a negative note after the US bombed Iran’s three nuclear facilities. The Asian indices were dragged in morning trade. The GIFT Nifty was trading 0.61% lower at 24,976. Here are key global cues to watch before the market opens that include crude oil prices, FII and DII data, business groups that most, sectoral performance, etc.
Earlier on Friday, the NSE Nifty 50 closed the session 319 points or 1.29% higher at 25,112, while the BSE Sensex surged 1,046 points or 1.29% to close at 82,408.
Key global and domestic cues to know on June 23, 2025
America bombs Iran’s nuclear sites
The US attacked three key nuclear facilities of Iran on Sunday, with President Donald Trump claiming that all three had been “completely and totally obliterated.” The US attacks follow a series of missile strikes by Israel last week, also targeting Iran’s nuclear installations, most notably Natanz.
Crude oil
The crude oil prices jumped sharply as tensions in West Asia escalated after the US bombed Iran’s three nuclear sites. WTI crude prices were trading at $75.56, up by 2.05%, while Brent crude prices were trading at $78.75, up by 1.92%.
Asian Markets
Asia-Pacific markets fell on Monday morning as the US attacked on Iran’s three nuclear sites, raising oil prices. Japan’s benchmark Nikkei 225 lost 0.56%, while the broader Topix index pulled back 0.49%. In South Korea, the Kospi index declined 1%, while the small-cap Kosdaq plunged 1.78%.
US futures
The futures contracts tied to the US benchmarks fell on Monday morning after the oil prices increased following the US bombing of Iran’s three nuclear facilities. Futures tied to the Dow Jones Industrial Average declined by 109 points, or 0.3%. S&P 500 futures shed 0.3% and Nasdaq 100 futures lost 0.4%.
Expert’s take on issue
“Crude oil is up more than 2% in early Asia trading as the world braces for Iranian retaliation to the US strike on Iran’s nuclear facilities over the weekend. With no increase in radioactivity in the areas around the bombed nuclear facilities, the US claims of “obliterating” the Iranian nuclear program remain difficult to verify,” said the market veteran, Ajay Bagga.
“Apart from oil, the rest of the risk markets are seeing muted falls. The big reason is that ever since Israel began this phase of conflict 10 days ago, markets have seen a risk-off. Institutional investor positioning remains very risk-off, and hence, a major action like the US getting drawn into yet another Middle East conflict has not had a market mayhem impact yet. Media headlines are talking of “plunges”, but 0.5% to 0.7% falls in markets are frankly par for the course,” added Bagga.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.18% higher at 99.10 on Monday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.17% to close at 86.59 to the dollar on June 20.
FII, DII data
Foreign institutional investors (FII) were the net buyers of shares worth Rs 7,704.37 crore. On the other hand, the Domestic institutional investors (DII) were the net sellers of shares worth Rs 3,657.70 crore on June 20, 2024, according to the provisional data available on the NSE.
Gold rate today
The escalated tensions in West Asia nudged investors towards safe-haven investments. The gold price retreated a bit from its new lifetime high, but still hovers near it. The rate for 24-carat gold today is Rs 99,320 per 10 grams. The rate of gold has risen by 2.54% in the past one month. The 22 kt gold rate today is Rs 91,043 per 10 grams. The 18-carat gold price today is Rs 74,490.