3 weeks ago
Gift Nifty Signals Positive Start; Asian Markets Advance
This news is about the stock market, which is a place where people buy and sell small parts of companies.
There is a special number called the Gift Nifty that gives a hint about how India's stock market might start the day.
On Monday morning, the Gift Nifty went up a little, which means Indian stocks might begin the day in a good mood.
Other stock markets in Asia were also going up.
That happened because the stock market in the United States had a very good day, helped by news that fewer people got jobs than expected.
This made investors feel the central bank, called the Federal Reserve, might not raise borrowing costs very soon.
But people are still being careful because there is a disagreement about a very important waterway called the Strait of Hormuz, used by ships carrying oil.
Iran said talks about reopening it are almost finished, but the waterway will only reopen if the United States agrees to certain conditions.
Because of that, oil prices stayed high, and that makes some investors nervous.
So overall, the day is expected to start positively, but investors are staying alert and careful.
At 7:42 am IST on August 10, the Gift Nifty traded at 24,670.5, up 29 points or 0.12%, signalling a positive start for Indian markets.
Asian markets advanced in early trade, with Japan's Nikkei 225 and South Korea's Kospi each rising more than 1%, after Wall Street closed at a record high.
The positive cues followed softer-than-expected US jobs data, which eased concerns over an imminent Federal Reserve rate hike.
Geopolitical uncertainty persisted as Iran said negotiations with Oman on reopening the Strait of Hormuz were in final stages, but reiterated the waterway would only reopen once the United States met certain conditions; Brent crude traded above $84 a barrel.
On Friday, the BSE Sensex fell 455.59 points (0.58%) to close at 78,499.17, while the NSE Nifty 50 declined 65.35 points (0.27%) to 24,570.65 amid profit-booking in private banks and financial stocks.
- Who
- Indian stock market investors, Gift Nifty traders, Asian markets (Japan's Nikkei 225 and South Korea's Kospi), and Iran and Oman, which are negotiating over the Strait of Hormuz.
- What
- Gift Nifty indicated a positive opening for Indian stock markets, while Asian markets advanced ahead of key US inflation data.
- Where
- India (Dalal Street), across Asian markets, and the Middle East (Strait of Hormuz).
- When
- Monday, August 10, 2026, in early trade (Gift Nifty quoted at 7:42 am IST).
- Why
- Positive cues from Wall Street's record close after softer-than-expected US jobs data eased concerns over a Federal Reserve rate hike, while geopolitical uncertainty over the Strait of Hormuz kept oil prices elevated and sentiment guarded.
Positive / Bullish View
Cautious View
Market opening direction
Positive / Bullish View
Gift Nifty trading higher and Asian markets advancing point to a firm, positive start for Indian equities.
Cautious View
Indian benchmarks ended the previous session in the red, and investors are expected to remain selective amid geopolitical uncertainties and global macroeconomic developments.
Strait of Hormuz outlook
Positive / Bullish View
Iran said negotiations with Oman on reopening the Strait of Hormuz are in their final stages, suggesting a resolution may be near.
Cautious View
Iran reiterated the waterway would only reopen once the United States met certain conditions, keeping oil prices elevated and limiting aggressive risk-taking.
Technical outlook
Positive / Bullish View
A decisive breakout above 24,700 on the NSE Nifty would strengthen the bullish bias and open the way towards 24,800-25,000.
Cautious View
Holding above support at 24,500 and the 24,400-24,300 zone is critical to sustaining the market's recovery, indicating momentum is moderating.
Key facts
- Gift Nifty level
- 24,670.5, up 29 points or 0.12% (7:42 am IST, August 10)
- Previous session - Sensex
- Closed at 78,499.17, down 455.59 points (0.58%)
- Previous session - Nifty 50
- Closed at 24,570.65, down 65.35 points (0.27%)
- Oil prices
- Brent crude above $84 per barrel; WTI near $79 per barrel
- Key resistance levels
- 24,600-24,700; breakout above 24,700 may target 24,800-25,000
- Key support levels
- 24,500, followed by 24,400-24,300
- Asian markets
- Nikkei 225 and Kospi each advanced more than 1% in early trade
- Key event
- US inflation data awaited; Strait of Hormuz negotiations monitored
Quotes
Ponmudi R
CEO of Enrich Money
“"Asian markets are trading higher in early trade, with Japan’s Nikkei 225 and South Korea’s Kospi each advancing more than 1%, providing a constructive backdrop for regional equities. Reflecting the improved sentiment, GIFT Nifty futures are pointing to a positive start for domestic markets,"”
news18.com
“"The 24,600‑24,700 zone remains the key resistance area. A decisive and sustained breakout above 24,700 would strengthen the bullish bias and potentially open the way for an upward move towards 24,800‑25,000,"”
news18.com










