Gift Nifty Hints at Positive Open for Sensex, Nifty on Friday  

Mumbai, Aug 6: Gift Nifty futures suggest Indian equity benchmarks will open on a positive note on Friday. The Nifty 50 and Sensex will likely open at 9:15 am with a mild positive bias in early trades. Nifty’s near-month August 25 contract was trading 8.50 points or 0.03% higher at 24,756.50 while the September 29 contract added 10 points or 0.04% to 24,860 in the latest trading session.  

Gift Nifty Intraday Analysis  

Gift Nifty opened at 24,616.5 and climbed steadily through the session to an intraday high of 24,765, holding on to most of its gains into the close. The contract did not revisit its opening low through the day, underlining the strength of the move. Gift Nifty was last trading at 24,756.5, up 8.5 points or 0.03%.  

Buying into every dip through the session suggests support has now formed near 24,700, while 24,765 forms the immediate resistance for Friday. Sustained trade above 24,700 keeps alive the prospect of Sensex and Nifty opening with a positive bias at 9:15 am on Friday.  

RBI Pause and CAS-led Nifty Flatline  

The Reserve Bank of India kept the repo rate unchanged at 5.25% on Wednesday, with all six Monetary Policy Committee members voting for the status quo and retaining a “neutral” stance. Nifty had traded lower for much of Wednesday’s session before the newly introduced Closing Auction Session, or CAS, reversed the losses in the final minutes to leave the index nearly flat. Sensex closed 152.05 points higher at 78,581.00 while Nifty added just 9.75 points to settle at 24,624.65, a divergence traders attributed largely to the CAS mechanism. Market participants said the revised closing process has produced unusual end-of-day swings in recent sessions, keeping investors watchful of how the new framework shapes benchmark closes going forward. With the RBI holding rates and raising its FY27 growth forecast to 6.7%, traders expect CAS-driven volatility, rather than fresh policy triggers, to remain the key swing factor for Nifty into Friday’s session.  

Iran War  

Iran-US war concerns continue to weigh on global markets, with investors watching closely for signs of diplomacy or escalation around the Strait of Hormuz. A military build-up in the region could threaten energy supplies and shipping routes, pushing crude oil prices higher and adding to India’s import bill.  

Sources

•  nseix.com
• Reuters
• PTI
• nseindia.com
• bseindia.com