Pre-Market Report: Positive Opening Expected as Global Markets Rally on Fed Rate Cut Hopes — August 10, 2026

Global Market Cues

The global sentiment remains buoyant as major U.S. indices notched fresh record highs on Friday. The S&P 500 climbed 0.6% to close at an all-time high of 7,757.64, while the Nasdaq Composite surged 1.3% led by technology and AI-focused stocks. This rally was triggered by a surprising July jobs report showing a contraction of 23,000 payrolls, which markets interpreted as a signal that the Federal Reserve may hold or even cut interest rates in September to support the cooling economy.

In Asia, markets are tracking these gains on Monday morning. Japan’s Nikkei 225 rose over 1.6%, and South Korea’s Kospi advanced 1.4%. However, geopolitical tensions in the Middle East remain a point of caution, with crude oil prices hovering around $84.50 per barrel amid uncertainty regarding maritime safety in the Strait of Hormuz.

GIFT Nifty and Domestic Cues

The GIFT Nifty is currently trading at approximately 24,668, suggesting a positive start for the Nifty 50, which closed Friday at 24,570.65. Domestic markets ended lower in the previous session as a sharp sell-off in financial stocks, particularly NBFCs like Bajaj Finance, weighed on the benchmarks following the RBI's draft proposal to tighten lending norms. Despite the Friday dip, the underlying trend remains constructive, with support for the Nifty seen at the 24,350–24,400 zone.

Key Stocks in Focus

• Aditya Birla Fashion (ABFRL): The company reported a net loss of ₹215 crore for Q1 FY27, compared to a loss of ₹212 crore a year ago, though revenue grew by 10.6% to ₹2,026 crore.
• State Bank of India (SBI): Shares will be in focus after Q1 results beat estimates with a 10.2% growth in net profit and improved asset quality, though profit-booking may occur at higher levels.
• Bajaj Finance & Bajaj Finserv: These stocks remain under pressure following regulatory concerns regarding the RBI’s proposed draft on NBFC lending norms.
• Vodafone Idea & Bharat Forge: Both companies are scheduled to announce their Q1 results today, which will likely drive volatility in their respective sectors.
• Gland Pharma & Zee Entertainment: Among the heavyweights reporting earnings today, their results will be closely watched for management commentary on growth outlooks.

Key Events to Watch Today

• Q1 Earnings Season: A heavy slate of corporate earnings including Vodafone Idea, Bharat Forge, Info Edge, Hindustan Copper, and Zee Entertainment will dictate individual stock movements.
• Geopolitical Updates: Developments regarding the potential US-Iran agreement to manage the Strait of Hormuz will be critical for energy prices.
• FII/DII Activity: Institutional flow data will be monitored to see if foreign investors continue their buying streak following the global risk-on sentiment.
• Monetary Policy Outlook: Traders will continue to digest the recent RBI policy hold and its impact on banking liquidity and margins.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update