Gift Nifty Points to Firm Start as Trump Confirms Monday Iran Talks, Wall Street Rally Helps Sentiment  

Mumbai, Aug 3: Indian equity benchmarks were poised to open strong on Monday with Gift Nifty trading significantly higher than Friday’s close, helped by a rally on Wall Street, easing crude prices and hopes that the US and Iran will resume talks soon although the conflict between the two continued to weigh on sentiment across global markets.  

Sentiment got a lift after US President Donald Trump said Iran talks would take place on Monday though he refused to announce a deadline for agreement. Trump had stated on Saturday that Iran along with other Middle Eastern nations had asked for time to finalise a deal that would lead to Strait of Hormuz reopening completely and stop Tehran’s nuclear ambitions while demanding Iran reach agreement soon. Trump told reporters on his way back to Washington on Sunday that talks with Iran would commence Monday afternoon however he did not elaborate on location or attendees of the meeting. Trump refused to say whether there was a deadline for Iran when asked directly by reporters. He said his preference was making a deal rather than having “lots of lives lost”, despite repeatedly threatening to up-end the war he started with Israel in late February before suddenly relenting to allow more time for diplomacy.  

Gift Nifty Figures  

Gift Nifty futures (25- Aug-20 26 expiry) were trading at 24,614.00 as of 8: 03 am IST on Monday, up 227.00 points or 0.93 per cent from the previous close. The premium indicates a strong opening for Indian equity benchmarks with the futures suggesting a day opening above 24,600 on the cash Nifty given Friday’s close of 24,383.60.  

Iran War  

President Trump said Monday talks would begin with Iran as part of efforts to reopen Strait of Hormuz but set no deadline for deal. Iran Foreign Minister Abbas Araqchi spoke with his Saudi and Pakistan counterparts on Sunday while talks with Oman about creating a new route through Hormuz are reportedly in final stages. Israeli energy minister Eli Cohen warned Iran on Monday that Israel and the US were prepared to use force if Tehran chose to restart its nuclear and missile programmes. Oil prices dropped over 4 per cent on Monday as investors pared back war-risk premiums that had been priced into oil following Trump’s admission that he had aborted plans for a targeted military strike on Iran.  

Asian Markets Wrap: Monday Morning  

Japan’s Nikkei 225 was the top loser across Asia-Pacific, plunging 1.74 per cent to finish at 63,240.51. Hong Kong’s Hang Seng eased 0.01 per cent to 25,883.07 and China’s Shanghai Composite shed 0.61 per cent to 3,808.82 while Vietnam’s HNX 30 Index dropped 1.31 per cent to 453.35. Indonesia’s Jakarta Composite Index gained 0.80 per cent to close at 6,236.13, Pakistan’s KSE 100 rose 0.31 per cent to 176,094.12 and Malaysia’s FTSE Bursa KLCI Index added 0.33 per cent to 1,726.03. Australia’s All Ordinaries gave up 0.19 per cent to 9,119.20, while Thailand’s SET index was near flat, changing very little to end at 1,623.64.  

Wall Street Wrap: Friday’s Close  

The Dow Jones Industrial Average advanced 276.97 points, or 0.53 per cent, to close at 52,485.03. The S& P 500 index climbed 52.09 points, or 0.70 per cent, to finish at 7,489.72, while the Nasdaq Composite Index jumped 251.68 points, or 1 per cent, to close at 25,373.85. The broader NYSE Composite underperformed the other benchmarks, dipping 30.75 points, or 0.13 per cent, to close at 24,107.54. The gains come amid investors continued to react to the Federal Reserve holding rates steady during its most recent monetary policy meeting.  

Oil Prices  

Oil prices tumbled $4 a barrel on Monday after U.S. President Donald Trump held off on a fresh attack on Iran, seeking to reach a quick deal that would halt Tehran’s nuclear ambitions and reopen the ​Strait of Hormuz. Brent crude futures slid $4.08, or 4.64%, to $83.85 by 2352 GMT while ​U.S. West Texas Intermediate crude was at $80.66 a barrel, down $4.01, or 4.74%. Both ⁠contracts jumped more than 20% last month after fighting between the U.S. and Iran resumed ​and as attacks on several tankers around Oman heightened security concerns, deterring shippers from entering ​the Gulf to load oil. 

Sensex, Nifty: Friday’s Close  

The Sensex closed higher for a third consecutive session on Friday July 31, rising 166.49 points or 0.21 per cent to 78,094.64. The Nifty 50 ended higher by 66.45 points, or 0.27 per cent, at 24,383.60. Market breadth remained positive with 2,444 shares rising against 1,607 declining and 185 remaining unchanged. Financial shares were in the forefront of the move higher with Bajaj Finance , Bajaj Finserv and Jio Financial among the top gainers on the Nifty while Mahindra & Mahindra and Adani Ports were also well supported. Sectorally, Nifty Media gained 2 per cent and Nifty Auto climbed 1.6 per cent while weakness in IT and FMCG stocks capped broader advances. w 

Source:

• nseindia.com
• https://www.reuters.com/business/energy/oil-tumbles-trump-cancels-attack-iran-reach-nuclear-deal-2026-08-03/
• https://www.reuters.com/world/asia-pacific/trump-says-iran-talks-take-place-monday-sets-no-deadline-deal-2026-08-02/
• https://www.reuters.com/markets/stocks/asia-pacific/