Gift Nifty, July 3, 2026: Markets Set for Flat-to-Strong Start, Index Up 0.24%

Mumbai, July 3: Indian markets will open flat-to-strong on Friday as Gift Nifty indicates positive open with positive cues from global markets outweighing any lingering risk aversion over tensions from the Middle East. US markets rallied sharply on Thursday while Asian markets extend those gains Friday morning and crude oil benchmarks have risen only modestly so far, offering traders little reason for concern. Geopolitical tensions from Iran’s ongoing conflict with the US seem to have died down for now as Tehran declares a week of mass mourning to bury slain Supreme Leader Ayatollah Ali Khamenei rather than retaliating with military attacks. Indian markets look set to build on Thursday’s gains at the open. 

Gift Nifty Indicates Positive Open 

Gift Nifty futures for July 28, 2026, expiry were trading at 24,413.00, up 58.00 points or 0.24 per cent as of 7:26 am Friday. The positive trading suggests that the Nifty 50 may open above 24,150 and extend Thursday’s strong finish tracking Asian and US markets firmer overnight. Markets should see little drama from the Middle East overnight or from the US Federal Reserve so points to a dull but positive open at 9:15 am. 

Asian Markets Trade Firmer Friday Morning 

Asian markets traded mostly higher Friday morning with Hong Kong’s Hang Seng Index leading gains with a strong 1.92 per cent jump. Japan’s Nikkei 225 was up 0.78 per cent and Australia’s ASX All Ordinaries climbed 1.06 per cent. Malaysia’s FTSE Bursa KLCI and Indonesia’s JSX Composite both traded 0.97 per cent and 0.87 per cent higher respectively. Only Vietnam’s HNX 30 and mainland China’s Shanghai Composite fell modestly. 

US Markets Close Mixed on Thursday 

US markets finished mostly higher on Thursday led by the Dow Jones Industrial Average which jumped 594.83 points or 1.14 per cent higher. The S& P 500 finished in positive territory but the Nasdaq Composite bucked the trend lower, falling 0.80 per cent on the day. US markets will remain closed Friday for Independence Day weekend. 

Oil Prices Gain Moderately 

Oil prices rose moderately early Friday, with Brent crude gaining 0.24 per cent to $72.10 a barrel and WTI up 0.20 per cent at $68.83 a barrel. Both benchmarks fell to their lowest levels since before violence escalated in the Middle East between Iran and Israel during Thursday’s session before rebounding. Oil traders are taking Iran-Israel peace efforts with a grain of salt for now and remain reluctant to fully commit until they see peace actually take hold. Oil volumes could remain muted through the long holiday weekend as US markets are closed Friday. 

Iran War: A week of mass mourning set to bury slain Supreme Leader 

Iranians are preparing to bury Supreme Leader Ayatollah Ali Khamenei who was killed Saturday during a rocket attack that Washington and Israel have both said they did not coordinate with Tehran. Ayatollah’s funeral procession will kick off over the weekend in Tehran and will continue next week in two of Iran’s holiest cities, Qom and Mashhad. Iran has declared a week of mass mourning during which time residents are encouraged to attend ceremonies dedicated to the slain leader. Ayatollah’s eldest son Mojtaba has been quickly appointed as Iran’s third supreme leader. Iran vows ‘final forgiveness’ after Khamenei funeral. 

Sensex, Nifty Finish Gains on Thursday 

Indian markets continued to rally for a second straight session Thursday led by a strong rebound in IT stocks. The Sensex gained 579.48 points or 0.75 per cent to finish at 77,502.12 while Nifty 50 advanced 169.85 points or 0.71 per cent to close at 24,175.70. Market breadth was positive on Thursday as 2,436 stocks advanced while 1,663 declined. The Nifty IT index bounced sharply higher closing nearly 5 per cent higher snapping its four-session losing streak. 

Source

•  nseindia.com