Indian stock markets are poised for a positive, albeit potentially muted, start today, June 11, 2025, as indicated by trends in the GIFT Nifty. Meanwhile, liquor stocks are expected to be in focus due to recent policy changes in Maharashtra.
GIFT Nifty Signals a Positive Opening:
The GIFT Nifty, a futures contract based on the Nifty 50 index traded on the NSE International Exchange (NSE IX) in GIFT City, is suggesting a gap-up opening for the Sensex and Nifty. At 8:00 AM, GIFT Nifty futures were trading 38 points higher at 25,182, signaling a positive start for domestic benchmark indices. This is further corroborated by other sources, with GIFT Nifty trading around 25,175.50, a premium of nearly 14.9 points from the Nifty futures' previous close, or higher by 29.50 points at 25,174. This index, formerly known as SGX Nifty, serves as an early indicator for the Indian stock market.
Recap of Previous Day's Market Performance:
On Tuesday, June 10, 2025, the Indian equity market ended on a flat note after a four-day winning streak. The BSE Sensex settled at 82,391.72, down by 53.5 points (0.06%), while the NSE Nifty50 ended marginally higher by 1.05 points at 25,104.25. This pause was attributed to profit booking after the recent rally.
Key Levels to Watch:
According to market analysts, key support zones for the Sensex include 82,000 and 82,100, while 82,400-82,600 will act as a key resistance area. For the Nifty 50, immediate support is placed at 25,000-24,900 levels, while a sustainable move above 25,200 could open the next upside towards 25,600 in the near term. VLA Ambala, Co-Founder of Stock Market Today, anticipates Nifty 50 to find support between 25,000 and 24,940 and meet resistance near 25,190 and 25,260.
Liquor Stocks in Focus:
Shares of liquor companies are expected to be active today following the Maharashtra government's approval of an excise duty hike on Indian Made Foreign Liquor (IMFL) and country liquor. The Maharashtra cabinet has approved an increase in duty on liquor and introduced reforms to tighten control and boost tax revenues.
Specifically, the excise duty on IMFL will be increased from three times to 4.5 times the declared manufacturing cost (up to ₹260 per bulk litre). On country liquor, it will surge to ₹205 from ₹180 per proof litre. Maharashtra has also introduced a new category – grain-based Maharashtra Made Liquor – which will be produced solely by local manufacturers. The revised minimum retail prices for 180 ml bottles are ₹80 for country liquor, ₹148 for grain-based Maharashtra Made Liquor, ₹205 for IMFL, and ₹360 for premium foreign liquor.
This decision is expected to increase the state's annual excise collection by approximately ₹14,000 crore. Consequently, stocks like United Spirits, United Breweries, Radico Khaitan, Allied Blenders & Distillers, Som Distilleries and Breweries, and Tilaknagar Industries are likely to see increased activity. Some analysts believe Sula Vineyard share price, and GM Breweries share price, meanwhile jumped as the government also introduced Maharashtra-made liquor (MML). This grain-based alcohol will be made only by local manufacturers, who must register new brands under this category.
Global Cues and Other Factors:
Asian markets rose on Wednesday, while U.S. stock futures remained largely unchanged. Investors are also monitoring ongoing trade negotiations between the United States and China and awaiting the release of May's U.S. consumer inflation data.
