GIFT Nifty Opening Update
GIFT Nifty opened today at 23,998.50. It is up 112.50 points (0.47%) from yesterday’s close of 23,878.00— so the trend is positive.
Indian benchmark indices experienced a significant decline on Wednesday, driven by rising tensions between the US and Iran, alongside an increase in crude oil prices, which led to widespread market weakness. The BSE Sensex experienced a significant decline of 1,677.12 points, representing a decrease of 2.15%, concluding the day at 76,503.60. Meanwhile, the NSE Nifty 50 fell by 516.65 points, a drop of 2.12%, finishing the session at 23,882.05. However, the market is likely to open positively as trends in the Gift Nifty index signalled a favourable start on Thursday, 9 July. Gift Nifty was positioned around the 23,980 level, reflecting a decline of more than 68 points from the prior closing of Nifty futures.
“Indian equity markets are expected to trade with a cautious undertone as geopolitical tensions in the Middle East have escalated further. Investor sentiment remains under pressure after the United States launched fresh strikes on Iran, with U.S. President Donald Trump stating that the ceasefire is “over.” The renewed military action has heightened concerns over regional stability and raised fears of potential disruptions to global energy supplies,” said Ponmudi R.
As the market indicates a favourable opening, certain stocks are expected to attract attention on Thursday owing to their individual positive or negative catalysts.
Stocks to Monitor:
- Tata Steel – The company’s crude steel production in India rose by 11% year-on-year to 5.82 million tonnes in the first quarter of FY27, while deliveries increased by 9% to 5.17 million tonnes. The growth was bolstered by increased output at its Jamshedpur and Kalinganagar facilities, as indicated by the Tata Group steel major in its provisional quarterly production update released on Wednesday.
- Tata Consultancy Services is set to disclose its first-quarter FY27 earnings on Thursday, July 9.
- NALCO – State-owned National Aluminium Company Ltd announced on Wednesday (July 8) that it has entered into a joint venture agreement with state-owned NLC India Ltd (NLCIL) to establish a joint venture company (JVC). The new entity is set to establish a 4×270 MW (1,080 MW) captive thermal power plant in Angul, Odisha.
- Mahindra and Mahindra has announced a price increase across its vehicle lineup, raising prices by an average of 2.7% for its SUV range and 2% for its commercial vehicles. The adjusted prices will take effect starting July 10, 2026.
- JSW Energy announced that it has commissioned 1,081 MW of renewable energy capacity since April 2026, bringing its total installed capacity to 14,535 MW. The newly added capacity consists of 442 MW of solar, 108 MW of wind, 381 MW of hybrid, and 150 MW of hydro power projects.
- IRB Infrastructure reported a 28% year-on-year increase in gross toll collections for June 2026, with collections achieving a record Rs 8.08 billion compared to Rs 6.31 billion in the corresponding month last year.
- State Bank of India’s asset management division, SBI Funds Management, has submitted its Red Herring Prospectus (RHP) to the Registrar of Companies in preparation for the upcoming initial public offering (IPO), set to commence public subscription on July 14.
- TVS Motor Company has formed a strategic alliance with Indian Oil Corporation aimed at improving last-mile LPG cylinder delivery through the utilisation of sustainable commercial mobility solutions.
- HFCL – The technology company and innovator in telecommunications and network infrastructure has introduced OptiQ AI as the new unified brand identity for its integrated optical connectivity portfolio.