Trade Setup: Global Cues Mixed as GIFT Nifty Edges Higher Ahead of Key Results
By ScanX News Team
GIFT Nifty up 0.1% suggests a marginally positive start. Wall Street closed lower with Dow down 0.74%. Asian markets mixed: Nikkei -0.35%, Hang Seng +0.14%. Commodities steady with gold at 3,339.90. FIIs net sellers of ₹5,588.91 crore, DIIs net buyers of ₹6,372.71 crore. Focus on key earnings including ITC, Tata Power, and UPL.
*this image is generated using AI for illustrative purposes only.
Introduction
Global markets present a mixed picture as traders prepare for the opening bell, with attention focused on key corporate earnings and economic data releases. The overall sentiment remains cautious amid ongoing geopolitical tensions and economic uncertainties.
GIFT Nifty Update
GIFT Nifty futures trading at 24,731.50, up 0.1% or 25 points from the previous close, suggests a marginally positive start for the broader market.
US Markets
Overnight, Wall Street ended on a softer note:
| Index | Close | Change (Points) | Change (%) |
|---|---|---|---|
| Dow Jones Industrial Average | 44,151.97 | -330.32 | -0.74% |
| Nasdaq Composite | 21,249.25 | -40.75 | -0.19% |
Asian Markets
Asian indices are showing mixed trends in early trade:
| Index | Price | Change (%) |
|---|---|---|
| Nikkei 225 | 40,927.70 | -0.35% |
| Hang Seng | 24,808.71 | +0.14% |
Commodity Trends
In the commodities market:
| Commodity | Price | Change (%) |
|---|---|---|
| Crude Oil | 69.26 | 0.00% |
| Gold | 3,339.90 | -0.26% |
| Silver | 36.68 | -0.09% |
| Natural Gas | 3.09 | -0.55% |
FII/DII Activity
Foreign Institutional Investors (FIIs) were net sellers in the cash market on July 31, offloading shares worth ₹5,588.91 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares valued at ₹6,372.71 crore.
Key Events to Watch
Investors will be closely monitoring several quarterly results announcements scheduled for today, including those from ITC , Tata Power , and UPL . Additionally, the ongoing AGM season continues with meetings for companies like GMM Pfaudler and Tube Investments .
Conclusion
As the market prepares to open, traders will be weighing the slightly positive GIFT Nifty indication against mixed global cues and a busy corporate calendar. The focus will likely remain on individual stock movements driven by earnings results and management commentaries.
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