The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a higher note on Wednesday, 5 August, ahead of RBI MPC meeting announcement today.
Asian markets mostly traded mostly higher on Wednesday, while the US stock market also rose.
On Tuesday, Indian benchmark indices moved in opposite directions on Tuesday, August 4, in a rare market divergence, with the 30-share Sensex rising over 0.60% while the NSE Nifty 50 fell more than 1% during the session. The sharp contrast in the performance of the two benchmark indices caught investors’ attention.
“Nifty snapped its four-session winning streak, ending 159 points lower at 24,614. The index stayed under pressure for most of the session and partly filled the upside gap created yesterday between 24,429 and 24,515. Notably, the index saw a sharp 150-point spike in the closing auction session (CAS), aided by more than 1% moves in more than ten Nifty stocks,” said Nandish Shah – Deputy Vice President, HDFC Securities.
Here are key global market cues for Sensex today:
Asian markets
Asia markets traded in positive territory on Wednesday, led by South Korea, where the Kospi surged more than 4% at the open, while the small-cap Kosdaq gained 1.6%. Japan’s Nikkei 225 climbed 1.83% and the Topix advanced 0.9%. Meanwhile, Australia’s benchmark S&P/ASX 200 rose 0.46%.
Gift Nifty today
Gift Nifty was trading around the 24,731 level, a premium of nearly 175 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Wall Street
US stock futures traded mixed on Tuesday evening after Wall Street extended its strong rally for a second straight session, with the benchmark S&P 500 ending at a fresh record high.
Dow Jones futures rose 90 points, or 0.2%, while S&P 500 futures edged up 0.1%. Meanwhile, Nasdaq-100 futures slipped 0.2%.
The major US indices posted sharp gains during Tuesday’s session, supported by robust corporate earnings and remarks from US Treasury Secretary Scott Bessent indicating that the United States and Iran may be nearing an agreement to reopen the Strait of Hormuz.
The S&P 500 climbed 1.8% to finish above the 7,700 mark for the first time, while the Dow Jones Industrial Average surged more than 900 points to register another record close.
RBI MPC meeting outcome
The Reserve Bank of India (RBI) will unveil its August monetary policy decision on Wednesday, August 5. RBI Governor Sanjay Malhotra is scheduled to announce the Monetary Policy Committee’s (MPC) verdict at 10 am, followed by a press conference at 12 pm.
Economists expect the central bank to adopt a cautious stance, supported by stable domestic macroeconomic conditions and persistent global uncertainties. However, some analysts believe the next policy review could leave room for a shift in the central bank’s stance if the economic outlook changes.
Crude oil prices
Oil prices extended their decline amid growing optimism that a deal could be reached to reopen the Strait of Hormuz, easing supply concerns in the Persian Gulf.
Brent crude slipped below $79 a barrel, while West Texas Intermediate (WTI) fell toward $75 after tumbling more than 10% over the previous two trading sessions.
US-Iran war
Qatar said on Tuesday that an interim proposal had been drafted, while both Washington and Tehran indicated progress in negotiations aimed at reopening the key shipping route.
Even if a temporary agreement is reached to restore commercial shipping through the Strait, it may not be enough to bring the conflict to a definitive end or address US President Donald Trump’s concerns over Iran’s nuclear programme.
According to a Bloomberg report, Trump spoke with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani on Tuesday to discuss efforts aimed at easing tensions between the United States and Iran, the Gulf nation’s government said.
Q1 results FY27
Amid ongoing earnings season, more than 150 companies are scheduled to report their April-June quarter earnings on Wednesday, 5 August.
Life Insurance Corporation of India, Trent, Hero Motocorp, Britannia Industries, Emcure Pharmaceuticals, Reliance Power are among the companies to declare their Q1 results 2026 today.
Gold rate today
Gold prices moved higher as the possibility of an interim agreement to reopen the Strait of Hormuz eased inflation concerns, leading traders to scale back expectations of additional interest rate hikes by the US Federal Reserve.
Bullion traded near $4,080 per ounce, with spot gold rising 0.5% to $4,076.47 an ounce by 4:28 p.m. in New York. Silver also gained, climbing 2.3% to $59.51 an ounce. Despite the latest uptick, gold has fallen by more than 20% since the US-Iran conflict began in late February.
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.
