Indian equity benchmarks to open higher tracking positive global cues
June 25 (Reuters) - India's benchmark indexes are likely to open higher on Wednesday, tracking positive cues from global equities on improved sentiment as tensions in the Middle East eased following a shaky ceasefire between Israel and Iran.
The Gift Nifty futures were trading at 25,182 points, as of 7:50 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above the previous close of 25,044.35 points.
The MSCI World index (.MIWD00000PUS), opens new tab hit a peak, and Asian and emerging market stocks (.MIAPJ0000PUS), opens new tab climbed to their highest levels since early 2022 on ceasefire optimism.
Back home, benchmark Nifty and Sensex (.BSESN), opens new tab inched closer to their nine-month highs intraday on Tuesday, but succumbed to profit booking after news of the initial ceasefire violation.
However, Iran and Israel signalled that the air war between them had ended, at least for now, after U.S. President Donald Trump publicly scolded them for violating a ceasefire he announced.
The tensions in the Middle East have pushed oil prices higher, which does not bode well for India as it relies on imports for most of its energy needs.
Foreign portfolio investors sold Indian shares worth 52.66 billion rupees ($612.8 million) on Tuesday, as per provisional data.
The focus will also be on the launch of HDB Financial Services' (HDBKF.UL) $1.5 billion initial public offer (IPO), India's largest so far this year. The non-bank lender raised 33.69 billion rupees ($392 million) from anchor investors on Tuesday.
** Tata Motors (TAMO.NS), opens new tab says U.S. tariffs are a near-term challenge and may affect margins for its subsidiary Jaguar Land Rover
** Hindalco Industries' (HALC.NS), opens new tab unit to acquire U.S.-based speciality alumina manufacturer Aluchem Companies for an enterprise value of $125 million
($1 = 85.9430 Indian rupees)
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