Gift Nifty Points to Strong Open, Tracking Firm Asian Cues Despite Weak Wall Street August 21 2026

Mumbai, Aug 21: Indian equity benchmarks are set for a firm start on Friday, with Gift Nifty futures signalling continued momentum after Thursday’s sharp rebound snapped a multi- session losing streak on Dalal Street. The upbeat setup comes even as most Asian peers traded higher through the morning session. Financials and IT, the two sectors that powered Thursday’s turnaround, are likely to stay in focus as the domestic market opens.

The bullish domestic bias stands in contrast to Wall Street, which ended sharply lower on Thursday as investors booked profits and reassessed the durability of the bond-market relief rally. The divergence underscores how Indian markets are currently drawing more support from softer global yields and steadier Asian trade than from the overnight cues out of the US. Whether this decoupling holds through the session will be a key thing to watch. 

Crude oil prices eased in early trade, offering some relief on the inflation front even as geopolitical risk around Iran stayed elevated. Treasury Secretary Scott Bessent said on Thursday that Washington will impose the “toughest sanctions in history” on Iran, a fresh escalation that keeps the six-month conflict, and its bearing on Gulf shipping, firmly in view for markets. 

Gift Nifty 

Gift Nifty futures for the August 25 series were trading at 24,321.50, up 27.50 points, or 0.11 per cent, as of 8:03 am IST on Friday. The mild uptick suggests Indian benchmarks could extend Thursday’s gains at the opening bell. 

Asian Markets on Friday 

Asian markets showed a mixed-to-positive tone on Friday morning, with Indonesia’s JSX Composite jumping 1.68 per cent to lead regional gains and Hong Kong’s Hang Seng and Malaysia’s FTSE Bursa firming as well. Japan’s Nikkei bucked the trend, falling 0.73 per cent, while Pakistan’s KSE 100 slipped 0.14 per cent. Thailand’s SET and Vietnam’s HNX 30 posted marginal gains, while Australia’s S&P ASX All Ordinaries edged lower. Overall, the region reflected a cautiously constructive mood following the stabilisation in global bond markets. 

US Markets on Thursday 

Wall Street ended deep in the red on Thursday, with the Dow Jones Industrial Average tumbling 703.84 points, or 1.32 per cent, to 52,759.21. The Nasdaq Composite fell 263.92 points, or 1 per cent, to 26,067.17, while the S&P 500 dropped 66.82 points, or 0.87 per cent, to 7,641.16. The NYSE Composite and the Canadian S&P/TSX index also closed lower, reflecting a broad pullback in US risk appetite. 

Oil Prices 

Oil prices slipped in early Friday trade, with WTI crude down 0.20 per cent at $86.66 a barrel and Brent crude off 0.09 per cent at $93.70 a barrel. Murban crude bucked the trend, rising 1.68 per cent to $101.07, while the Opec basket climbed 1.90 per cent. The mixed moves came even as sanctions threats against Iran kept underlying supply-risk premiums intact. 

The US Treasury on Wednesday said it would more than double the maximum size of its buybacks of longer-duration debt, from $2 billion to at least $4 billion, an intervention aimed at calming a bond-market sell-off that had pushed yields to multi-decade highs. The move, driven by Treasury Secretary Scott Bessent, helped ease pressure across global fixed-income markets and lifted risk sentiment in equities worldwide. For India, softer US yields reduce the pull of dollar assets for foreign investors and ease pressure on the rupee and domestic borrowing costs. The relief was already visible on Thursday, when easing global bond-market concerns helped the Sensex and Nifty snap their losing streak. 

Iran War 

The Iran conflict took a sharper turn on Thursday after Bessent said the US would impose the “toughest sanctions in history” on Tehran, describing it as a “one-two punch” alongside the existing naval blockade. Iran’s foreign ministry condemned the move as “economic terrorism,” warning it would harm ordinary Iranians. Trump separately threatened broad economic consequences for any country aiding Iran, a warning that could extend to major buyers of Iranian crude such as China. Oman, meanwhile, said lasting security in the Strait of Hormuz would require a permanent regional peace, even as Trump warned he could strike the Gulf state if it obstructed US objectives. 

Indian Markets on Thursday 

Indian benchmarks snapped their losing streak on Thursday, with the Sensex jumping 628.04 points, or 0.82 per cent, to 77,537.72 and the Nifty 50 gaining 153.55 points, or 0.64 per cent, to 24,231.85. Market breadth stayed positive, with 2,367 stocks advancing against 1,778 decliners on the NSE. The rally was broad-based, with 14 of 16 sectoral indices ending in the green, led by a 2 per cent jump in the Nifty Media index. IT and financial stocks were the biggest drivers, while midcap and smallcap indices also participated in the recovery.

Source

• nseindia.com