Asian Markets Climb, Nifty Futures Premium on Global Rally
By Sivam
Asian markets surged Tuesday, mirroring Wall Street’s gains and lower crude oil prices. Nifty June 2026 futures closed at a premium, indicating positive domestic sentiment.
Asian Markets Up on Global Cues
Asian markets mostly closed higher on Tuesday, tracking positive momentum from Wall Street and a significant drop in crude oil prices. This broader uplift occurred as US President Donald Trump announced the Strait of Hormuz would be fully open by Friday.
The announcement coincides with a scheduled framework agreement signing between Washington and Tehran, aiming to resolve their Middle East conflict. Despite inflation concerns, the US Federal Reserve, led by new Chair Kevin Warsh, is widely expected to maintain interest rates this Wednesday.
Key Market Movements
- Japan’s Nikkei saw a marginal increase after the Bank of Japan delivered a widely anticipated 25 basis point rate hike.
- Chinese shares experienced a slight dip following a mixed set of economic data from China.
Nifty Futures Trade at Premium
Domestically, Nifty June 2026 futures concluded at a premium over spot. The July 2026 contracts also showed a substantial premium, reflecting market sentiment.
- Nifty June 2026 futures closed at 24007.00, a premium of 17.85 points over the spot closing of 23989.15.
- Nifty July 2026 futures ended at 24093.00, a premium of 103.85 points over spot.
- The near-month derivatives contract, expiring on June 30, 2026, saw a contraction of 2,811 units in Nifty June futures, bringing total open interest to 2,71,311 units.
- HDFC Bank June 2026 futures traded at a discount of 11.50 points at 773.25 compared with a spot closing of 784.75.