The Indian equity benchmarks are set to lower Thursday, June 11, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad declined 130 points or 0.56% to 23,110 amid weak cues from Asian markets.
The Indian equity benchmarks erased intraday gains and ended on a flat note on Wednesday as investors resorted to profit booking amid weak cues from global markets after geopolitical tensions in West Asia flared up. The SENSEX fell as much as 715 points from the day’s highest level and NIFTY50 index touched an intraday low of 23,185 after hitting a high of 23,425 earlier in the session.
The SENSEX advanced 64 points or 0.09% to close at 73,983 and NIFTY50 index declined 27 points or 0.12% to settle at 23,215.
Here are key things to know before markets open:
Asian markets
Asian markets were trading lower on Thursday following weak closing of US stocks overnight amid selloff in AI stocks.
Japan’s Nikkei fell 0.5%, China’s Shanghai Composite declined 0.4%, Hong Kong’s Hang Seng fell 0.48% and South Korea’s KOSPI dropped 0.6%.
Wall Street update
Another sell-off for artificial-intelligence stocks helped drag the US market sharply lower Wednesday, as Wall Street’s former superstars continue to face heavy scrutiny for their success, news agency AP reported.
The S&P 500 dropped 1.6% for its first back-to-back drop in three weeks and is back to where it was in early May. The Dow Jones Industrial Average tumbled 953 points, or 1.9%, and the Nasdaq composite led the market lower with a 2% slide.
Iran war update
The United States launched a second round of airstrikes into Thursday morning on Iran after President Donald Trump warned that Tehran would “pay the price” for stalled negotiations, AP reported.
The new assault across multiple cities comes as efforts to negotiate an end the war again appeared stuck, with Iran insisting it would maintain its chokehold on the Strait of Hormuz, which has disrupted global energy supplies and sent oil prices higher.
Iran threatened to retaliate for the strikes, and missile sirens sounded Thursday morning in Bahrain, home to the headquarters of the US Navy’s 5th Fleet. However, any immediate Iranian response appeared more muted than the one that came after the first round of American strikes on Wednesday, when it launched missiles at Bahrain, Kuwait and Jordan, AP report added.
FII/DII activity
Foreign institutional investors (FII) sold shares worth ₹2,124.98 crore on Wednesday while domestic institutional investors bought stocks worth ₹3,123.95 crore, as per NSE data.
FIIs have so far this year sold shares worth ₹2,85,202 crore, data from National Securities Depository Limited (NSDL) showed.
Stocks to watch
Bharti Airtel: Bharti Airtel on Wednesday said it has replaced its Priority Postpaid service, which triggered a net neutrality debate, with the Fast Lane service, extending the promise of faster connectivity to postpaid users.
The company has made changes on the website and replaced the term Airtel Priority with Fast Lane Technology, as well as changed some of the points in the description of the services in terms and conditions.
Airtel had earlier explicitly stated that “Priority service enhances customer experience during periods of network congestion in eligible coverage areas” and “Priority access enhances service experience during network congestion”, which has been removed now.
Havells: Leading electrical goods maker Havells India said its consumer appliances brand Lloyd had a challenging FY26, with revenue falling 23 per cent amid weak summer demand and elevated channel inventory, resulting in a sharp hit to profitability.
Despite the downturn, the brand continued to make progress in its journey towards becoming a comprehensive home-appliances player for Indian households.
The brand continued to strengthen its position in the air-conditioner segment while expanding its presence in washing machines, refrigerators and televisions as part of its strategy to evolve into a comprehensive home-appliances brand for Indian households, according to Havells’ annual report.
REC, Power Finance Corporation: The President has approved the merger of REC Ltd with Power Finance Corporation, nearly seven years after PFC acquired the government’s majority stake in REC.
In March 2019, state-owned PFC completed the acquisition of the government’s majority stake of 52.63 per cent in REC Ltd for Rs 14,500 crore.
According to a regulatory filing by the REC, the Ministry of Power, vide its letter dated June 10, 2026, has conveyed the approval of the Competent Authority (President of India) in respect of the aforesaid proposal (merger of REC into PFC).
On May 16, the Board of Directors at its meeting reserved the proposal for the merger of REC into PFC in view of approval of the proposal by the President of India.
Eternal: Eternal, the parent entity of Zomato and Blinkit, on Wednesday said it has received a Rs 9.63 crore demand notice for Goods and Services Tax (GST), along with interest and penalty, from the Andhra Pradesh tax authorities.
The demand order has been received with respect to short payment of output tax for the period April 2023 to March 2024, the company said in a regulatory filing.
“This is to inform that the company has received an order on June 9, 2026, for the period April 2023 to March 2024, passed by Deputy Commissioner, State Special Circle-I, Andhra Pradesh, confirming demand of GST of Rs 6,48,72,000 with interest of Rs 2,49,53,504 and penalty of Rs 64,87,200,” Eternal said.