The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a negative note on Monday, 8 August.
Asian stock market advanced on Monday, meanwhile, US markets slipped on Sunday night as concerns grew that the United States and Iran may not reach an agreement soon to reopen the Strait of Hormuz.
On Friday, the Indian stock market ended on a subdued note on Friday, August 7, as a rise in crude oil prices amid renewed concerns over the Strait of Hormuz fuelled uncertainty around a potential Middle East peace deal. The Nifty 50 slipped 0.32% to close at 24,557, while the Sensex declined 0.59% to end the session at 78,491.
“Indian equity markets extended their gains for a second consecutive week, although the pace of the advance moderated as intermittent profit-taking at higher levels tempered investor enthusiasm. Sentiment remained broadly constructive, underpinned by resilient corporate earnings, selective sectoral buying, and ample domestic liquidity. At the same time, geopolitical developments in the Middle East and continued uncertainty surrounding the Strait of Hormuz remained the principal external risks, prompting investors to stay selective rather than aggressively increase risk exposure. Renewed foreign institutional inflows further reinforced confidence in domestic equities and helped the market absorb bouts of volatility,” said Ponmudi R, CEO – Enrich Money.
Here are key global market cues for Sensex today:
Asian markets
Asian markets advanced on Monday, August 10, following gains on Wall Street in the previous session, as investors reacted to weaker-than-expected US employment data.
Japan’s Nikkei rose 1.29%, while South Korea’s Kospi gained 1.47% and the Topix climbed 0.36%. Hang Seng futures indicated a 0.5% increase, while S&P 500 futures were down 0.2%.
Gift Nifty today
Gift Nifty was trading around the 24,668 level, a premium of nearly 13.50 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Wall Street
S&P 500 futures slipped on Sunday night as concerns grew over the likelihood of a near-term agreement between the US and Iran to reopen the Strait of Hormuz.
Futures linked to the S&P 500 declined around 0.2%, while Nasdaq-100 futures gained 0.1%. Dow Jones Industrial Average futures fell 99 points, or 0.2%.
Crude oil prices
Oil prices climbed on Monday as uncertainty persisted over when the Strait of Hormuz could reopen. Iran said an agreement with Oman to establish new shipping routes was nearing completion, but maintained that the United States still needed to fulfil additional conditions.
Brent crude futures gained 91 cents, or 1.09%, to $84.46 a barrel, while US West Texas Intermediate (WTI) crude futures rose 61 cents, or 0.78%, to $78.79 a barrel.
The two benchmarks had declined by more than 7% last week on expectations that Iran and Oman were close to an agreement that could pave the way for the reopening of the Strait of Hormuz, through which around one-fifth of global oil supplies passed before the war.
US-Iran war
Iran said on Sunday that an agreement with Oman was in its “final stages”, while maintaining that the Strait of Hormuz would only be reopened after the United States met additional conditions, including compensating Tehran for the extensive attacks it has faced.
Iranian Foreign Minister Abbas Araqchi said Tehran and Washington are currently not holding negotiations and that Iran would not initiate talks as long as the US continues to violate an interim agreement signed in June.
Meanwhile, Iran-aligned Houthi forces claimed on Sunday that they had targeted Saudi Aramco’s Jazan refinery, two days after Saudi Arabia signed a defence agreement with Turkey and Pakistan amid rising regional tensions linked to the U.S.-Israeli conflict with Iran.
Separately, the United Arab Emirates’ ADNOC said on Friday that 15 of its vessels had come under attack while passing through the Strait of Hormuz since the conflict began.
Q1 results FY27
Amid ongoing earnings season, more than 150 companies are scheduled to report their April-June quarter earnings on Thursday, 6 August.
Vodafone Idea, Bharat Forge, Info Edge India, Hindustan Copper, KEC International, Ideaforge Technology, PC Jeweller are among the companies to declare their Q1 results 2026 today.
Gold rate today
Gold prices remained largely steady after posting their strongest weekly gain since January, as traders assessed an unexpected contraction in the US labour market that eased concerns about a potential interest-rate hike.
Bullion was trading around $4,345 an ounce in early Asian hours after surging more than 7% last week.
The precious metal has largely stayed above the key $4,000-an-ounce support level in recent weeks, with dip-buying gaining momentum following a war-triggered sell-off that pushed gold into a bear market in June.
Despite the recent recovery, gold is still nearly 20% below its levels before the Iran war erupted in late February.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
