3 weeks ago
Gift Nifty Down 97 Points Signals Cautious Indian Market Start
Stock markets are like a big scale that shows whether investors feel happy or worried.
Today, a special number called Gift Nifty, which gives an early hint about Indian stock prices, went down a little.
That tells us Indian stock markets might start the day quietly or slightly lower.
People are worried because the price of oil has gone up, and high oil prices can make things cost more.
There are also tensions in the Middle East, and ships may have trouble passing through an important waterway called the Strait of Hormuz.
Later today, the United States will share a big report about jobs, and everyone wants to see it.
This report helps people guess what the Federal Reserve might do with interest rates, which affect loans and savings.
Markets around the world look mixed, with some going down and some going up.
Experts say Indian markets still have strong support and could climb higher if they push past a certain level.
Gift Nifty traded at 24,650.5, down 97.5 points or 0.39%, pointing to a cautious start for Indian equities on August 7.
Sentiment was restrained by rising crude oil prices and West Asia geopolitical tensions, with Brent crude climbing above $83 per barrel.
Investors awaited US non-farm payrolls data due later in the day for clues on the Federal Reserve's interest rate trajectory.
Global cues were mixed: Wall Street ended lower overnight, Japan's Nikkei fell 0.9%, South Korea's KOSPI slipped 0.5%, while China's CSI 300 rose 0.2%.
Analysts said Nifty holds above 24,600 support with resistance at 24,700, and a sustained move above could target the 24,800-25,000 range.
- Who
- Indian equity investors and benchmark indices, with market commentary from Ponmudi R, CEO of Enrich Money.
- What
- Gift Nifty traded 97.5 points lower at 24,650.5, signaling a cautious, likely flat-to-negative opening for Indian equities.
- Where
- India, amid mixed global cues from Wall Street and Asian markets, with oil supply concerns centered on the Strait of Hormuz.
- When
- Friday, August 7, 2026, ahead of US non-farm payrolls data due later in the day.
- Why
- Rising crude oil prices and West Asia geopolitical tensions, along with caution ahead of US jobs data, kept risk appetite in check.
Key facts
- Gift Nifty level
- 24,650.5, down 97.5 points (0.39%)
- Market date
- August 7, 2026
- Brent crude
- Above $83 per barrel
- Nifty support levels
- 24,600, then 24,500
- Nifty resistance levels
- 24,700, then 24,800-25,000
- RSI reading
- Near 62
- Key event to watch
- US non-farm payrolls (NFP) data
- KOSPI weekly performance
- Down 5.0% for the week, seventh straight weekly decline
Quotes
Ponmudi R
CEO of Enrich Money
“GIFT Nifty futures are trading around 24,648 in early trade, pointing to a largely flat start for domestic equities. Global cues remain mixed as Wall Street ended lower overnight, while firmer Treasury yields and a rebound in crude oil prices reflected continued uncertainty over the pace of progress in Middle East negotiations.”
news18.com










