The Indian stock markets are likely to have a muted opening as investors are tracking mixed global cues and tech stocks' sell-off in the US. GIFT Nifty indicates a slight positive start, trading at 23,865, with a 12-point premium over the previous Nifty futures close.

On Tuesday, the Sensex fell 893.39 points or 1.16% to close at 76,200.68, while the Nifty 50 declined 278.80 points or 1.16% to settle at 23,824.10.

The broader indices also ended lower, with the Nifty midcap index down 1% and the small cap index falling 0.5%.

The Indian rupee opened 16 paise lower at Rs. 94.89 per dollar, down from the previous close of Rs. 94.73.

Foreign Institutional Investors (FIIs) turned net buyers in Indian equities on June 24, 2026. FIIs net bought shares worth Rs. 18 crore, while DIIs net purchased Rs. 680 crore.

Sensex Outlook

Technically, the Sensex formed a long bearish candle on the daily chart, signaling further weakness from the current levels.

"For the Sensex, the pivotal level would be 76,500. This will act as a trend decider level. Below this, the market could slip to 75,500-75,300. On the flip side, if the index moves above 76,500, it could bounce back to 76,800-77,000," said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

Nifty 50 Outlook

Nifty 50 formed a bearish candle on the daily timeframe, suggesting strong selling pressure and a loss of bullish momentum.

Nifty witnessed profit booking after approaching the 24,200 resistance zone, which also coincides with the 100-day EMA. Selling pressure in metal and IT stocks dragged the index lower. 

As long as the index continues to hold above the 38.2% retracement level near the 23,760-23,720 zone, the current weakness can be viewed as a normal pause within an ongoing uptrend.

A daily close back above the previous day's high is now required for buyers to regain control, which could take prices to 24,300 or higher. However, a break below 23,720 could result in an attempt to fill the gap formed on June 15.

Also Read: US Stock Market Today: S&P 500 and NASDAQ Slide as Micron Leads Global Chip Stock Sell-Off

Bank Nifty Outlook

On Tuesday, Bank Nifty fell 751.85 points, or 1.30%, to close at 57,183.75, forming a bearish candle on the daily chart, indicating selling pressure at higher levels.

The overall structure is positive, and any dips should be used to accumulate quality banking stocks in a staggered manner. 

"Key support is placed at 56,000 levels, being the confluence of the 38.2% retracement of the entire pullback 53,027-57,954 and the recent breakout area. On the higher side, key resistance is placed around 58,300 and 59,250 levels in the coming sessions, being the measuring implication of the recent range breakout," said Bajaj Broking.