Archive · 7 Aug 2026
Sensex, Nifty set for weak open as oil prices spike
The stock market is like a big store where people buy tiny pieces of big companies.
In India, two famous stock market indexes are the Sensex and the Nifty 50.
On Thursday, these indexes went up a little bit, which made investors happy.
But on Friday morning, the market is expected to start weakly.
This is because the price of oil went up a lot, and expensive oil can make it harder for companies to earn money.
The price of Brent crude oil, which is used around the world, went up by more than 1% to $83.45 for one barrel.
There is also tension happening in the Middle East, which worries investors about energy supplies.
Market experts watched a signal called the Gift Nifty, and it suggested the market would open lower.
However, the experts still believe the market's overall trend is positive.
They are watching certain numbers, like support and resistance levels, to guess where the market might go next.
Indian benchmark indices Sensex and Nifty 50 are expected to open weak on Friday, 7 August, weighed down by a sharp rise in Brent crude oil prices amid Middle East tensions.
Brent crude climbed more than 1% to $83.45 a barrel, raising concerns over energy supplies and inflation.
Gift Nifty traded around 24,651.5, an 88-point discount to Nifty futures' previous close, indicating a negative start.
On Thursday, the Sensex rose 373.76 points (0.48%) to close at 78,954.76, while the Nifty 50 gained 11.35 points (0.05%) to settle at 24,636.
Analysts see supports for Nifty at 24,300–24,450 and resistance at 24,750–24,850, with a move above 24,800 opening the door toward 25,150.
- Who
- Indian stock market investors and technical analysts such as Hitesh Tailor, Nagaraj Shetti, Hitesh Rathi and Sudeep Shah.
- What
- Indian stock market benchmark indices Sensex and Nifty 50 are expected to open weak.
- When
- Friday, 7 August.
- Where
- India.
- Why
- A sharp rise in Brent crude oil prices amid escalating tensions in the Middle East weighed on investor sentiment, raising concerns over energy supplies and inflation.
- Brent crude price
- $83.45 per barrel, up more than 1%
- Gift Nifty level
- Around 24,651.5 (88-point discount to Nifty futures' previous close)
- Sensex close (Thursday)
- 78,954.76, up 373.76 points (0.48%)
- Nifty 50 close (Thursday)
- 24,636, up 11.35 points (0.05%)
- Bank Nifty close
- Closed above 58,000, up 0.56%
- Nifty support zone
- 24,300–24,450 (buy-on-dips area)
- Nifty resistance zone
- 24,750–24,850; breakout above 24,800 could lead toward 25,150
- Sensex support zone
- 78,300–78,600