GIFT Nifty Opening Update
GIFT Nifty opened today at 24,686.50. It is up 21.50 points (0.09%) from yesterday’s close of 24,641.50— so the trend is positive.
The Indian stock market experienced downward pressure during the session on August 7, as escalating crude oil prices and renewed uncertainty regarding the Strait of Hormuz intensified concerns about the potential for a Middle East peace agreement. The Nifty 50 experienced a decline of 0.32%, concluding at 24,557, whereas the Sensex saw a decrease of 0.59%, finishing at 78,491. The market is poised for a flat opening, as indicated by the trends in the Gift Nifty index, which suggest a muted start on Monday, 10 August. Gift Nifty was trading close to the mark, reflecting an increase of over 100 points from the prior close of Nifty futures.
“Indian equity markets are expected to open on a steady note, supported by firm regional cues, although investors are likely to remain selective as geopolitical developments and global macroeconomic expectations continue to shape risk sentiment. 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,” said Ponmudi R. As the market indicates a flat opening, certain stocks are expected to attract attention on Monday owing to their individual positive or negative catalysts.
Equities to Monitor:
- Vodafone Idea, Bharat Forge, Hindustan Copper, KEC International, and PC Jeweller will attract attention as these companies are set to announce their Q1 results for 2026 today.
- State Bank of India, reported a 10% year-on-year increase in standalone net profit to Rs 21,121 crore for the first quarter. The figure exceeded the Street estimate of Rs 19,052 crore, in contrast to the Rs 19,160 crore reported in the same quarter last year.
- Titan – Consumer discretionary major Titan reported a 63% year-on-year increase in consolidated net profit, reaching Rs 1,777 crore in the first quarter, compared to Rs 1,091 crore in the same period last year.
- Ola Electric reported a consolidated loss of Rs 336 crore in Q1, narrowing from a loss of Rs 428 crore in the same quarter last year and Rs 500 crore in the preceding quarter.
- Logistics company Delhivery reported a 65% year-on-year decline in net profit to Rs 31.9 crore in the first quarter of FY27, compared with Rs 91.1 crore in the corresponding period last year.
- Apollo Micro Systems’s net profit rose by 42.1% year-on-year to Rs 27 crore, up from Rs 19 crore, while revenue from operations experienced a significant increase of 88%, reaching Rs 251.3 crore compared to Rs 133.6 crore in the corresponding quarter of the previous year.
- NLC India reported a 39.3% year-on-year decline in consolidated net profit to Rs 484.2 crore in the first quarter of FY27, down from Rs 797.5 crore in the corresponding quarter last year. Revenue from operations, however, increased by 23.3% year-on-year to Rs 4,716.7 crore, up from Rs 3,825.6 crore in the first quarter of FY26.
- Power Finance Corporation lender reported a 2.1% year-on-year rise in net profit, reaching Rs 7,012 crore for the quarter ending June 30, 2026, in contrast to Rs 6,866 crore during the same period last year.
- Oil India – Another Maharatna PSU demonstrated robust performance in the June quarter, with standalone net profit increasing to Rs 2,870.2 crore for the quarter ending June 30, 2026, up from Rs 1,789.5 crore in the March quarter.