The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a cautious note on Tuesday, August 4, as investors monitor uncertainty surrounding US-Iran diplomatic developments and await the Reserve Bank of India’s monetary policy decision.
Asian markets traded mixed during early trade, while Wall Street ended higher overnight, supported by easing oil prices and gains in technology stocks.
Domestic equity benchmarks extended their rally for a fourth consecutive session on Monday. The BSE Sensex gained 544 points (0.70%) to close at 78,639, while the NSE Nifty 50 advanced 391 points (1.60%) to settle at 24,774.30. The rally was supported by lower crude oil prices, encouraging corporate earnings, resilient auto sales and continued strength in the Indian rupee.
Key Global Market Cues
Asian Markets
Asian markets showed mixed performance on Tuesday as investors balanced Wall Street’s rebound against ongoing geopolitical concerns in West Asia.
- Japan’s Nikkei 225 declined 0.8%
- Topix slipped 0.5%
- South Korea’s Kospi fell 1.9%
- Hong Kong’s Hang Seng Index gained 0.48%
Gift Nifty
Gift Nifty traded around 24,628, indicating a mildly positive opening for Indian equities.
Wall Street
US markets ended higher, with the Dow Jones closing at a record high. Technology stocks led the gains, while Amazon crossed the $3 trillion market capitalization milestone. Nvidia, Meta, Alphabet and Microsoft also finished higher.
Crude Oil Prices Recover
Oil prices edged higher after witnessing a sharp fall in the previous session.
- Brent Crude rose to around $84.39 per barrel.
- WTI Crude traded near $80.95 per barrel.
Markets continue to monitor developments surrounding US-Iran tensions and the Strait of Hormuz, a key global oil shipping route.
RBI Monetary Policy in Focus
The RBI’s Monetary Policy Committee (MPC) meeting is underway, with Governor Sanjay Malhotra scheduled to announce the policy decision on August 5.
Market participants will closely track the central bank’s commentary on inflation, economic growth and the future interest rate outlook.
US-Iran Developments
US President Donald Trump indicated that fresh military action against Iran would be avoided for now as diplomatic efforts continue.
However, Iran’s Foreign Ministry stated that no formal negotiations with the United States are currently underway, keeping geopolitical uncertainty elevated.
Q1 FY27 Earnings Today
More than 130 companies are scheduled to announce their April-June quarter results today. Key companies include:
- Bharti Airtel
- Oil and Natural Gas Corporation (ONGC)
- FSN E-Commerce Ventures (Nykaa)
- BSE Ltd.
- Multi Commodity Exchange of India (MCX)
- Bharti Hexacom
- Kalyan Jewellers India
- Marico
Gold Prices
Gold prices remained largely steady as investors awaited key US employment data for further clues on the US Federal Reserve’s interest rate outlook.
Disclaimer: This article is intended solely for informational and educational purposes. It should not be considered investment, financial or trading advice. Investors are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions. Market conditions are subject to change, and past performance does not guarantee future results.
