GIFT Nifty Opening Update
GIFT Nifty opened today at 24,609.00. It is down -14.50 points (-0.06%) from yesterday’s close of 24,665.00— so the trend is negative.
Domestic benchmark indices experienced a rally on Monday, August 3, achieving their fourth consecutive session of gains. This upward movement was largely attributed to a significant decline in crude oil prices, which bolstered investor sentiment amidst increasing optimism regarding a potential peace agreement between the US and Iran. The BSE Sensex surged 544 points, or 0.70%, to close at 78,639, while the NSE Nifty 50 jumped 391 points, or 1.60%, to end the session at 24,774.30. The market is expected to commence on a muted note, as indications from the Gift Nifty index suggest a flat opening on Tuesday, 4 August. Gift Nifty was positioned around the 24,628 level, reflecting a decline of more than 21.40 points from the prior closing of Nifty futures.
“Indian equity markets are expected to trade on a steady note, with improving global sentiment and sustained institutional buying likely to extend the recent recovery. Investor focus this week will primarily remain on the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting, which is expected to be the key domestic catalyst. Market participants will closely watch the RBI’s stance on interest rates, inflation outlook, and growth commentary, as these could significantly influence banking stocks, bond yields, and overall market direction. Meanwhile, the Q1 FY27 earnings season gathers further momentum with several large-cap companies scheduled to announce their quarterly results, including Bharti Airtel, ONGC, Power Grid Corporation, Trent, Hindalco Industries, State Bank of India, and Titan Company. Management commentary on demand trends, margins, and future outlook will remain closely monitored and is likely to drive stock-specific action throughout the week,” said Ponmudi R.
As the market indicates a negative opening, certain stocks are expected to attract attention on Tuesday, influenced by their individual positive or negative catalysts.
Equities to Monitor:
- Bharti Airtel, Nykaa, ONGC, BSE, MCX, Marico, Bharti Hexacom, Kalyan Jewellers India, and NHPC are poised to attract attention as these firms are set to unveil their Q1 results for 2026 today.
- IREDA – State-owned Navratna company IREDA reported a 36.8% year-on-year increase in net profit for the June quarter, bolstered by strong growth in its lending operations.
- Life Insurance Corporation of India – The government has announced plans to divest up to a 6.5% stake in LIC through an Offer for Sale at a floor price of Rs 382 per share, with the issue opening on Tuesday (August 4).
- ONGC – The government announced that 50% of the 1.75-million-tonne petroleum storage facility under development by ONGC in Mangaluru will be designated for strategic petroleum reserves, with the remaining capacity allocated for commercial use.
- GE Shipping reported a net profit increase of over two-fold for the June quarter, attributed to robust performance in its shipping segment and improved operating margins. Consolidated net profit increased to Rs 1,309 crore in Q1 FY27, up from Rs 505 crore in the same quarter of the previous year.
- Texmaco Rail & Engineering reported a 67% year-on-year increase in net profit to Rs 50 crore for the June quarter, compared to Rs 30 crore in the corresponding period last year.
- Thomas Cook reported a consolidated net profit of Rs 58.7 crore in the first quarter, reflecting a 5.8% increase from Rs 55.5 crore in the same period last year. Its revenue increased by 1.2% year-on-year to Rs 828 crore, up from Rs 818 crore in the same quarter of FY26.
- Arvind on August 3 initiated its Qualified Institutions Placement aimed at raising capital, establishing the floor price at Rs 518.58 per share.