Indian Markets Eye Gains Amid Global Jitters; Will Nifty Hold 24,500?
Despite global jitters, Indian markets may open on a positive note today, with GIFT Nifty signaling early gains. However, caution remains as global cues weigh heavy on sentiment.
Indian equity markets are expected to open in the green today, August 4, as indicated by early cues from the GIFT Nifty, which was trading nearly 70 points higher at 24,671 around 7:30 a.m. This comes after a weak global handoff and a sharp sell-off in the previous session. Also Read: Thousands of crores of TCS to LIC sank in 5 days, Reliance made investors happy While the overall sentiment remains fragile due to global concerns, some bargain hunting could support local benchmarks like the Sensex and Nifty 50. Investors may look to pick up beaten-down stocks, particularly in the FMCG space, which has shown resilience despite the broad-based decline. In the last session, Indian equities closed lower, tracking global weakness triggered by rising U.S. inflation and a wave of new tariffs from the Trump administration. Defensive stocks like FMCG held their ground, buoyed by strong demand and stable valuations. Asian markets extended their losing streak into a seventh session today, following a weak U.S. jobs report that fueled fears of a slowdown. This has reignited talks of a potential interest rate cut by the Federal Reserve, putting further pressure on global markets.