GIFT Nifty Hints at Cautious Start for Markets Today; Key Levels to Watch

Mumbai, 2 Sept, 2025 – The Indian stock market is expected to open on a flat but cautious note today. The flat-to-cautious opening is indicated by Gift Nifty. As of 8:30 AM, Gift Nifty was up marginally by 0.02%, or 5.00 points and is trading at 24,750.00, indicating that the indices may see marginal volatility. This comes after major stock market indices rebounded strongly yesterday, owing to strong GDP data and broad-based buying across major sectors.

Yesterday, Sensex surged by 554.84 points, or 0.70%, to close the day at 80,364.49. On the other hand, Nifty closed 198.20 points, or 0.81% higher at 24,625.05. A major trigger for the performance was the Q1 FY26 GDP growth, which stood at a five-quarter high of 7.8%. This data helped cushion the continuous fall in major indices and offset concerns regarding the US tariffs.

On the technical aspect, Nifty has broken out of a falling wedge pattern, which is an indicator for bullish reversal. Now, analysts suggest that as long as Nifty sustains above the 24,500-24,540 range, the trend may remain positive. Nifty’s upside resistance is at 24,700-24,900, while it may show early weakness if it slips below the 24,600 level.

The flat-to-cautious opening is supported by a mix of global signals. Asian markets opened mostly higher, due to a US court ruling declaring most of the recently imposed tariffs illegal. However, the tariffs will remain in effect pending appeal. Japan’s Nikkei and South Korea’s Kospi saw modest gains, while Australia’s ASX 200 was in the red.

Investors are likely to analyse global developments and institutional flows as Gift Nifty is showing a muted opening this morning. It remains to be seen if the GDP data will affect the positive sentiment or the global concerns will take over to push the indices down.

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