With a monsoon rainfall deficit of over 43% as on Sunday, June 2026 is on course to be third driest of corresponding months since 1901 and the driest since 2009, according to India Meteorological Department (IMD) data. According to the projection, overall rainfall in June is likely to be around 95 mm, making it driest since 2009, the year when monthly precipitation was only 85.7 mm, 47% below the benchmark.
Driest June since 2009 as rainfall deficit hits 43%, El Nino expected to strengthen further- Daily Market Update 29th June 2026
Overview and Outlook
Global Stock Market Today
- The US equity markets settled on a flat to negative note.
- European equity markets ended lower in range 0.21% to 1.31%.
- Asian equity markets are trading mix.
- GIFT Nifty is little changed, Nifty futures is likely to open around 24100 levels.
Following a gap-up opening, the benchmark Nifty index briefly breached the upper band of its congestion range (the 23,800–24,200 spot zone) but failed to hold at higher levels amid the scheduled monthly derivatives expiry of BSE contracts.
The broader markets underperformed the benchmark as Mid and Small cap indices ended on a negative note.
Performance on the sectoral front was largely mix and muted. Among them, Nifty Auto was at the top of the tally, gained over 2%. On the other hand, Metal was at the bottom of the tally, down 1.37% followed by Consumer Durables and IT that were down 0.86% each.
Technically, the Nifty index settled with a second consecutive Doji candlestick on the weekly chart, showing indecisiveness among traders or the continuation of the ongoing sideways move in the 23,800–24,260 spot zone. Moving ahead, a break on either side of the mentioned range will open the floor for a 300–400 point move in that direction.
Derivatives Overview & Outlook
Last Friday, Banknifty and Finnifty futures added 4.9% and 5.5% of open interest respectively as long buildup, whereas some long unwinding was seen in Midcapnifty futures that shed 3.6% of open interest. On the other hand, no significant change was observed in Nifty futures on open interest as well as on the price front.
Majority of F&O sectors were down on short buildup along with some long unwinding among Cement and Textile stocks, whereas long buildup was seen in Auto stocks.
On option front, call writing along with some put unwinding was seen at multiple OTM strikes. Maximum positions are at 25000 CE followed by 24500 CE and 24000 PE. Put call ratio is indicating a sideways session.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 2305 Cr in the cash segment, sold stocks futures worth Rs 1226 Cr and bought index futures worth Rs 426 Cr. DIIs were net buyers in the cash segment to the tune of Rs 11101 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24200-24300; Supports 23900-23800
Banknifty – Resistances 58600-58800; Supports 58000-57600
Finnifty – Resistances 27000-27100; Supports 26600- 26500
F&O stocks in ban today: Nil
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are the associates of GCML.
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