Indian Market Pre-Open Report: Key Things To Watch Today | 23 June 2026
Indian equity benchmarks are poised for a firm start, with Gift Nifty futures indicating a gap-up opening. Early indications suggest the domestic market will track positive global sentiment following reports of progress in US-Iran peace talks, which overshadowed a weaker tone in Asian markets. Corporate-specific action, particularly in the auto sector, and the beginning of the ex-dividend season will guide trading sessions today.
Global Market Snapshot
Overnight, US stocks rallied as progress on a US-Iran peace deal appeared to ease geopolitical tensions. This positive sentiment, however, has not fully translated to Asian markets this morning, which are trading lower as participants re-evaluate Federal Reserve policy expectations. In technology, Accenture's weaker outlook and concerns over its AI strategy may cast a shadow over IT-related stocks.
Commodities and Currency
Crude oil prices are a key focus. Brent Crude futures are holding around the $78 per barrel mark, with investors monitoring developments related to the Strait of Hormuz. On the currency front, the Reserve Bank of India's bulletin revealed significant intervention in the forex market. The central bank net sold $8.94 billion in the spot market in April to buffer the rupee against depreciation pressures.
Stocks In Focus Today
- Bajaj Auto: Today is the last day for investors to purchase shares to be eligible for the company's ₹5,633 crore share buyback. The buyback price is set at ₹12,000 per share.
- Tata Consultancy Services (TCS): The IT major announced its board will meet on July 9 to consider Q1 FY27 financial results. An interim dividend is also on the agenda for the meeting, setting the tone for the upcoming earnings season.
- Ex-Dividend Stocks: A number of companies will trade ex-dividend today. These include large-caps like Asian Paints and Hindustan Unilever (HUL), which could see price adjustments.
- Dr. Reddy's Laboratories: The pharmaceutical company is also in focus ahead of its upcoming Q1 results announcement.
Corporate Actions
- Bajaj Auto Buyback: Shareholders who wish to participate in the company's largest-ever buyback worth ₹5,633 crore must own shares by the end of today's trading session.
- Ex-Dividends: Asian Paints and Hindustan Unilever are among seven companies whose shares will trade ex-dividend starting today.
Economic Calendar
Domestically, recent commentary from the Reserve Bank of India holds significance. The RBI stated in its latest bulletin that India's inflation remains anchored despite a pickup in May. The central bank also expressed confidence that economic growth could surpass 7% if oil prices continue to soften. Separately, the RBI Governor urged banks to consider Micro, Small, and Medium Enterprises (MSMEs) as growth partners. In regulatory news, SEBI has approved 'GARUDA', a new framework aimed at creating a 10-day green channel for regulatory approvals for Indian Alternative Investment Funds (AIFs).
Sector Watch
- Auto: The sector will be led by action in Bajaj Auto due to its significant buyback program, the record date for which is today.
- IT Services: TCS's announcement of its Q1 results date marks the formal start of the earnings season for the sector. However, the cautious outlook from global peer Accenture could temper investor enthusiasm.
- FMCG: Hindustan Unilever and Asian Paints will be watched as they turn ex-dividend. These movements often influence short-term trading patterns in the sector.
- Banking: Commentary from the RBI Governor directing banks to support the MSME sector could lead to a renewed focus on public and private sector lenders with significant exposure to this segment.
Today's Watchlist
- Bajaj Auto: Final day to be eligible for the ₹5,633 crore buyback at ₹12,000/share.
- TCS: Board meeting for Q1 FY27 results and interim dividend scheduled for July 9.
- Asian Paints: Stock to trade ex-dividend today.
- HUL: Stock to trade ex-dividend today.
- Dr. Reddy's Laboratories: In focus ahead of Q1 earnings announcement.