Trade Setup for Today: Key Things to Know Before the Opening Bell on May 7, 2026

2 min read Updated on 07 May 2026, 08:01 AM

Reviewed by

Jubin VScanX News Team

AI Summary

GIFT Nifty futures indicate a cautious start, trading at 24,446.50, down 109.50 points. While US markets closed strong with Dow up 1.24% and NASDAQ gaining 2.05%, Asian markets show momentum with Nikkei surging 5.56%. FIIs sold ₹5,834.90 crore while DIIs bought ₹6,836.87 crore. Gold strengthened 0.45% and crude oil gained 0.42%. Today's focus shifts to 75 companies announcing quarterly results, including Bajaj Holdings, Thermax, and Lupin.

*this image is generated using AI for illustrative purposes only.

Global markets are showing mixed signals as traders gear up for another session, with Asian indices posting gains while commodity markets display varied performance. The day brings a packed earnings calendar with over 75 companies set to announce their quarterly results.

GIFT Nifty Update

GIFT Nifty futures are trading at 24,446.50, down 109.50 points or 0.45% from the previous close of 24,556.00. This suggests a cautious start for the session, with the index opening below the 24,500 mark.

Metric	Value
Current Price	24,446.50
Change	-109.50 (-0.45%)
Day High	24,531.50
Day Low	24,426.00

US Markets

US markets closed on a positive note with all major indices posting solid gains. The Dow Jones Industrial Average surged 612.32 points (1.24%) to close at 49,931.58, while the NASDAQ Composite gained 520.08 points (2.05%) to reach 25,867.21. The S&P 500 E-Mini futures are currently trading at 7,385.50, down marginally by 4.00 points.

Index	Closing Price	Change	Change %
Dow Jones	49,931.58	+612.32	+1.24%
NASDAQ	25,867.21	+520.08	+2.05%
S&P 500 E-Mini	7,385.50	-4.00	-0.05%

Asian Markets

Asian markets are showing strong momentum with the Nikkei 225 leading the charge. The Japanese index surged 3,308.80 points (5.56%) to reach 62,821.92, hitting a new yearly high. The Hang Seng Index also posted gains of 339.31 points (1.29%) to close at 26,553.09.

Index	Price	Change	Change %
Nikkei 225	62,821.92	+3,308.80	+5.56%
Hang Seng	26,553.09	+339.31	+1.29%

Commodity Trends

Energy: Crude oil (WTI) is trading at $95.48, up $0.40 (0.42%) from the previous close. Natural gas is down slightly at $2.72, declining by $0.01 (0.44%).

Precious Metals: Gold futures are showing strength at $4,715.30, gaining $21.00 (0.45%). Silver futures have posted solid gains of $1.10 (1.43%) to reach $78.41.

Commodity	Price (USD)	Change	Change %
Crude Oil (WTI)	95.48	+0.40	+0.42%
Natural Gas	2.72	-0.01	-0.44%
Gold Futures	4,715.30	+21.00	+0.45%
Silver Futures	78.41	+1.10	+1.43%
Copper	6.18	-0.01	-0.11%

Currency Updates

The USD/INR pair remains stable at 94.60, showing no change from the previous session. The EUR/USD is trading at 1.18, up marginally by 0.00 (0.07%).

FII/DII Activity

Foreign Institutional Investors (FIIs) continued their selling streak, with net outflows of ₹5,834.90 crore. Domestic Institutional Investors (DIIs) provided support with net purchases of ₹6,836.87 crore, helping offset foreign selling pressure.

Date	FII Net (₹ Cr)	DII Net (₹ Cr)
May 6, 2026	-5,834.90	+6,836.87
May 5, 2026	-3,621.58	+2,602.62
May 4, 2026	+2,835.62	+4,764.16

Key Corporate Actions Today

Today marks a significant day for earnings with 75 companies scheduled to announce their quarterly results. Notable companies include:

Major Result Announcements:

Bajaj Holdings & Investments (₹10,469.00)
Thermax (₹4,113.60)
Bharat Forge (₹1,866.60)
Lupin (₹2,343.30)
Pidilite Industries (₹1,364.20)
Dabur India (₹460.55)
Biocon (₹368.25)

Dividend Action:

Oracle Financial Services Software (OFSS) goes ex-dividend for an interim dividend of ₹270.00 per share

Rights Issue:

EFC (EFCIL) goes ex-rights in the ratio of 8:103

The session promises to be eventful with the heavy earnings calendar potentially driving stock-specific movements across sectors including pharmaceuticals, engineering, FMCG, and financial services.