The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a negative note on Friday, 7 August.
Asian markets mostly traded mixed on Friday, while the US stock market remained largely unchanged.
On Thursday, Indian benchmark indices traded in a narrow range as investors stayed on the sidelines awaiting more clarity on the possibility of a peace deal in the Middle East. Weakness in heavyweight stocks also weighed on overall market sentiment. The Nifty 50 inched up 0.05% to end at 24,636, while the Sensex rose 0.26% to close at 78,785.
“Markets traded on a subdued note on the weekly expiry day and ended almost unchanged amid mixed cues. After a flat start, the Nifty oscillated within a narrow range throughout the session and eventually settled around the 24,636 mark.
Investor sentiment remained largely steady following the latest RBI Monetary Policy Committee (MPC) decision, with the central bank’s optimistic growth outlook continuing to support domestic equities. At the same time, participants remained cautious ahead of key global developments, while the ongoing earnings season continued to drive stock-specific action,” said Ajit Mishra – SVP, Research, Religare Broking.
Here are key global market cues for Sensex today:
Asian markets
Asian markets traded mostly higher in early trade on Friday as investors awaited the release of China’s trade data later in the day. Japan’s Nikkei 225 rose more than 0.20%, while the broader Topix index advanced 0.29%. South Korea’s Kospi gained 0.89% at the open, with the small-cap Kosdaq climbing 0.6%. In contrast, Australia’s benchmark S&P/ASX 200 slipped 0.45% in early trading.
Gift Nifty today
Gift Nifty was trading around the 24,652 level, a premium of nearly 4 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Wall Street
US stock futures were largely flat on Thursday night as investors awaited the release of the closely watched July jobs report. S&P 500 futures edged up 0.04%, Nasdaq 100 futures advanced 0.3%, while Dow Jones Industrial Average futures slipped 17 points, or 0.03%.
The muted movement followed a weak session on Wall Street, where rising oil prices pressured equities. The Dow Jones declined more than 460 points, or 0.9%, snapping a five-session winning streak. Meanwhile, the S&P 500 fell 0.2% and the Nasdaq Composite eased 0.1%.
Crude oil prices
Oil prices extended their gains on Friday as fresh concerns emerged over access to the Strait of Hormuz after Iran, in coordination with Oman, proposed barring vessels considered hostile from passing through the key waterway and imposing hefty fines on those violating the proposed regulations.
Brent crude futures climbed 99 cents, or 1.2%, to $83.48 a barrel, while U.S. West Texas Intermediate (WTI) crude futures advanced 85 cents, or 1.1%, to $78.84 a barrel.
US-Iran war
Iran is considering a bill that would prohibit U.S., Israeli, and other vessels classified as hostile from passing through the Strait of Hormuz, a crucial waterway that handled nearly one-fifth of global oil and liquefied natural gas shipments before the war erupted in late February.
According to Iran’s Fars news agency, an Iranian lawmaker said a parliamentary committee is examining a draft proposal that would not only ban such vessels from using the strait but also impose fines of up to 20% of the cargo’s value on those violating the proposed restrictions.
Separately, a senior Iranian official said Tehran is seeking transit fees of 5% to 7% of the cargo value from ships passing through the Strait of Hormuz. Oman is reportedly negotiating fees of around 3%, while the United States is pushing for ships to transit without any charges.
Q1 results FY27
Amid ongoing earnings season, more than 150 companies are scheduled to report their April-June quarter earnings on Thursday, 6 August.
State Bank of India, Titan Company, Hindalco Industries, Oil India, Power Finance Corporation are among the companies to declare their Q1 results 2026 today.
Gold rate today
Gold prices were largely unchanged on Friday and were poised for their biggest weekly gain since January, supported by softer oil prices. Investors also remained focused on the upcoming U.S. nonfarm payrolls report for fresh signals on the Federal Reserve’s interest rate trajectory.
Spot gold was steady at $4,235.57 per ounce, taking its weekly gain to 4.8%. Meanwhile, US gold futures slipped 0.1% to $4,293.80.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
