Asian stocks fell on Wednesday as a renewed selloff in technology shares combined with rising tensions in the Middle East after US forces struck Iran, pushing oil prices higher and supporting demand for the dollar. South Korea’s Kospi Index, seen as a gauge of artificial intelligence-related investments, fell 3.7%, while Japan’s Nikkei also declined over 1%, and Hang Seng futures lost over 1%.
Asian equity markets fall as US-Iran strikes lift Brent crude prices- Daily Market Update 10th June 2026
Overview and Outlook
Global Stock Market Today
- US equity markets, barring Dow Jones, settled on a negative note.
- European equity markets ended on a flat to negative note.
- Majority of Asian equity markets are trading with a negative bias.
- GIFT Nifty is up by 50 points, Nifty futures is likely to open around 23250 levels.
The benchmark Nifty index ended higher at 23242 spot levels after adding over 100 points from its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices rose 1.35% & 1.69% respectively.
All sectoral indices, barring IT and Media, ended in green. Among them, Nifty PSU Bank index was at the top of the tally, gained 3.62% followed by Private Banks and Realty index that gained over 1.5% each.
Technically, Nifty index bounced back from the lower band support of downward sloping congestion zone placed around 23000 spot levels as discussed in our previous posts. For a sustainable up move going ahead, Nifty needs to cross and sustain above 23500 spot levels. Downside supports are still placed around 23000 spot levels. A decisive close below 23000 spot might drag it towards 22800-22700 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, Midcapnifty futures added 10% of open interest as long buildup along with some short covering among Banknifty and Finnifty futures as both shed around 3% of open interest each. On the other hand, no significant changes were observed in Nifty futures on open interest front.
All F&O sectors, barring Technology and Telecom, rose on short covering.
On options front, Nifty will start the new weekly series of June contract with maximum positions at 24000 CE and 22000 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 4566 Cr in the cash segment, bought index futures worth Rs 186 Cr and also bought stocks futures worth Rs 2874 Cr. DIIs were net buyers in the cash segment to the tune of Rs 6159 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23450-23550; Supports 23200-23100
Banknifty – Resistances 55700-56000; Supports 55000-54500
Finnifty – Resistances 25350-25500; Supports 25100- 25000
F&O stocks in ban today: KAYNES & AMBER
Disclosure
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