Pre-Market Report: Gap-Up Opening Expected Amid Positive Wall Street Finish and Plunging Oil Prices — August 3, 2026

Global Market Cues

The global market setup presents a mixed but largely supportive backdrop for Indian equities. On Friday, July 31, Wall Street concluded a volatile month on a high note. The Dow Jones Industrial Average rose 0.53%, the S&P 500 gained 0.7%, and the tech-heavy Nasdaq Composite jumped 1%. This rally was primarily fueled by stellar earnings from mega-cap tech giants; Amazon shares soared 15% following a profit beat, and Microsoft continued its upward trajectory after strong cloud growth forecasts.

However, Asian markets are trading under significant pressure this morning. Japan’s Nikkei 225 fell by approximately 1.8%, and South Korea’s Kospi plunged over 5% as a global semiconductor sell-off rippled through the region. In a major macro development, Brent crude prices crashed below the $84 per barrel mark—a 7% decline—following reports that U.S. President Donald Trump has halted planned military strikes on Iran to pursue a peace deal. This retreat in oil prices serves as a significant tailwind for the Indian economy and the rupee.

GIFT Nifty and Domestic Cues

GIFT Nifty is signaling a robust start for the domestic benchmarks. As of 7:30 AM IST, GIFT Nifty was trading around the 24,590 level, representing a premium of nearly 150-200 points over the Nifty 50's previous close of 24,383.60.

On the domestic front, investor sentiment remains buoyant after Nifty recorded its best weekly gain in four months last week. Foreign Institutional Investors (FIIs) have turned net buyers, infusing over ₹20,200 crore into the cash segment in July. The focus today will shift to the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting, which commences today and concludes on August 5. While a status quo on rates is widely expected, the central bank's commentary on inflation and liquidity will be critical.

Key Stocks in Focus

• ABB India: The company reported a 3% rise in Q2 CY2026 net profit to ₹362 crore and declared a special dividend of ₹90 per share.
• Bajaj Finance: The stock remains in focus after reporting a 28% surge in Q1 net profit, anchoring the finance sector's recent outperformance.
• Bharti Airtel & State Bank of India: Both heavyweight stocks will be closely watched ahead of their quarterly earnings reports scheduled for later this week.
• InterGlobe Aviation (IndiGo): The airline announced it will conclude its wide-body damp lease arrangement with Norse Atlantic Airways in October, reaffirming its long-term international strategy.
• Chambal Fertilisers: The company has commenced production of Technical Ammonium Nitrate at its new facility as of July 31.
• Coforge: The stock will trade in focus as it goes ex-dividend today for its interim dividend of ₹4 per share.

Key Events to Watch Today

• RBI MPC Meeting: The three-day monetary policy meeting begins today to decide on the benchmark repo rate.
• Manufacturing PMI Data: Investors will track the China Caixin Manufacturing PMI (July) and the U.S. ISM Manufacturing PMI (July) for signs of global economic health.
• Corporate Earnings: A slew of mid-cap and large-cap companies are scheduled to report their Q1 FY27 results throughout the day.
• Geopolitical Updates: Any further developments regarding the U.S.-Iran peace talks will continue to impact crude oil and currency markets.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update