Gift Nifty Points to Strong Open for Sensex, Nifty on Friday as Oil Slips, Global Markets Rally 

Mumbai, July 31: Indian equity benchmarks Sensex and Nifty 50 are set for a strong start on Friday, with Gift Nifty signalling a firm gap-up open as a wave of positive global cues converge. A bumper session on Wall Street overnight, a broadly cheerful Asian market on Friday morning, and a fresh pullback in crude oil prices are all pointing traders toward a confident start. The optimism comes even as the Iran war continues to simmer in the background, with fresh drone strikes near Egypt’s Suez Canal and ongoing skirmishes between Washington and Tehran keeping a lid on how far the rally can run. Still, for now, the setup into Friday’s 9:15 am open looks distinctly upbeat. 

Gift Nifty Signals 

Gift Nifty’s August 25, 2026 futures contract was trading at 24,422.50 as of 8:17 am on Friday, up 29 points, or 0.12 per cent, on the day. The modest but steady uptick suggests Nifty 50 could open with a positive bias, extending Thursday’s late-session recovery on Dalal Street. Traders will watch whether this early strength builds further or moderates as the 9:15 am opening bell approaches. 

Asian Markets on Friday Morning 

Asian markets were broadly positive on Friday morning, led by Japan’s Nikkei 225, which surged 4.37 per cent in a sharp rebound. Vietnam’s HNX 30 jumped 2.28 per cent and Indonesia’s JSX Composite climbed 1.56 per cent, while China’s Shanghai Composite added 0.77 per cent. Australia’s ASX All Ordinaries and Malaysia’s FTSE Bursa KLCI posted smaller gains of 0.27 per cent and 0.32 per cent respectively. Hong Kong’s Hang Seng and Pakistan’s KSE 100 were the region’s laggards, slipping 0.37 per cent and 0.28 per cent respectively, keeping the overall picture positive but not uniformly so. 

US Markets on Thursday 

US markets closed sharply higher on Thursday, with the Nasdaq Composite leading the charge, surging 2.78 per cent to 25,122.18. The S&P 500 jumped 1.66 per cent to 7,437.63, while the Dow Jones Industrial Average gained 1.19 per cent to 52,208.06. The NYSE Composite added 0.81 per cent, rounding out a broad-based rally across major US benchmarks. The strength came even amid lingering uncertainty over the Federal Reserve’s interest-rate outlook, suggesting investors were more focused on easing geopolitical risk than on near-term policy signals. 

Oil Prices 

Oil prices settled lower on Thursday after a volatile session, with Brent crude futures down $1.71, or 1.88 per cent, at $89.03 a barrel, even after touching a session high of $93.31 when Washington and Tehran traded fresh strikes. US West Texas Intermediate crude settled down 87 cents, or 1.03 per cent, at $83.59, having hit a high of $85.94 earlier in the day. The decline came as traders weighed a proposed Saudi Arabia-led maritime defence coalition, backed by 14 nations, aimed at boosting security around the Red Sea and Bab el-Mandeb Strait. Analysts noted that expectations of a supply surge once the conflict resolves are also weighing against any sustained price spike, even as the Strait of Hormuz risk premium persists. 

Iran War Update 

A drone strike damaged two gas tankers at Egypt’s port of Damietta on Wednesday, renewing energy security concerns around the Suez Canal and Sumed pipeline, a critical alternate export route for Saudi oil since the war began. Saudi Arabia had already rerouted much of its crude toward the Red Sea after Houthi threats curtailed the Strait of Hormuz, but renewed Houthi attacks last week have now disrupted that route too, pushing more tankers north toward Suez. Crude loadings through the Sumed pipeline have risen sharply, to 28.79 million barrels in July from 19.52 million in April. Iran and Oman continued talks on managing the Strait of Hormuz, though Tehran has so far ruled out Oman’s proposal for joint regional management. 

Thursday’s Close: Sensex, Nifty 

Indian equity benchmarks ended higher on Thursday, with late-session buying lifting the Sensex by more than 273 points and pushing the Nifty 50 back above the 24,300 mark after a volatile session. The Sensex closed 273.55 points, or 0.35 per cent, higher at 77,928.15, while the Nifty 50 gained 66.95 points, or 0.28 per cent, to settle at 24,317.15. Market breadth remained weak despite the benchmark gains, with 1,620 shares advancing against 2,408 declining, while the Nifty Midcap and Smallcap indices underperformed, falling 0.4 per cent and 0.6 per cent respectively. Nifty Auto was the best-performing sectoral gauge, climbing 1.6 per cent on strength in Mahindra & Mahindra, Eicher Motors and Maruti Suzuki. 

Source

•  nseindia.com