Sensex, Nifty to Open Higher; FIIs Continues Selling Streak, All Eyes on India-US Trade Deal
DSIJ Intelligence-2Categories: Mkt Commentary, Trending
GIFT Nifty indicated a positive start for Indian equity markets. As of 7:19 AM, the GIFT Nifty was trading near 24,675, up 76 points from its previous close, signaling potential upside for the Nifty 50.
Pre-Market Update at 7:45 AM: On Monday, August 4, GIFT Nifty indicated a positive start for Indian equity markets. As of 7:19 AM, the GIFT Nifty was trading near 24,675, up 76 points from its previous close, signaling potential upside for the Nifty 50.
Asian markets were mixed in early trade, while Wall Street ended lower on Friday. The S&P 500 posted its sharpest single-day decline in over two months, weighed down by weak job data and tariff concerns. The Dow Jones fell 1.23 per cent, the S&P 500 slipped 1.60 per cent, and the Nasdaq lost 2.24 per cent. On a weekly basis, the three indices fell 2.92 per cent, 2.36 per cent, and 2.17 per cent, respectively.
Back home, Friday marked a weak start to the August derivatives series. The BSE Sensex declined by 586 points (0.72 per cent) to close at 80,599.91, while the Nifty 50 ended 203 points lower at 24,565.35, down 0.82 per cent. The decline was driven by broad-based selling, ongoing foreign fund outflows, and underwhelming Quarterly Results from key Large-Cap stocks.
Foreign Institutional Investors (FIIs) continued their selling spree, offloading equities worth Rs 3,366.40 crore on August 1. This marked ten consecutive sessions of selling. Meanwhile, Domestic Institutional Investors (DIIs) bought shares worth Rs 3,186.86 crore, extending their buying streak to 20 straight sessions.
This week, investors will closely monitor several market-moving factors. These include the Reserve Bank of India’s monetary policy decision, developments in the India-US trade deal, Q1 FY26 earnings from large-cap and Mid-Cap companies, ongoing IPO activity, and trends in global commodities like gold and crude oil.
Notable companies announcing their Q1 results today include DLF, Bosch, Siemens Energy India, Shree Cements, Marico, Aditya Birla Capital, Aurobindo Pharma, Sundaram Finance, Godfrey Phillips India, Escorts Kubota, Tata Investment Corporation, Sumitomo Chemical India, and Sona BLW Precision Forgings.
In global news, OPEC announced a production increase of 547,000 barrels per day starting in September, along with a separate boost for the UAE. The total output hike is approximately 2.5 million barrels per day, about 2.4 per cent of global oil demand. As a result, crude oil prices declined. Brent crude was down 0.42 per cent at USD 69.38 per barrel, while WTI crude fell 0.39 per cent to USD 67.07.
Gold prices also dipped as investors booked profits following a sharp rally. Spot gold slipped 0.3 per cent to USD 3,351.80 per ounce. The US dollar index edged higher by 0.2 per cent to 98.86, recovering slightly after a previous sharp drop.
US Treasury yields moved lower amid growing expectations of a Federal Reserve rate cut in September. The two-year yield touched a three-month low at 3.6590 per cent, and the 10-year yield hovered around 4.2060 per cent.
For today, PNB Housing remain on the F&O ban list.
Disclaimer: The article is for informational purposes only and not investment advice.