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The GIFT Nifty trades higher by 266 points or 1.07% at 24,921, indicating big gap-up opening in the domestic markets on August 18.
Nifty Today.
The domestic equity markets are poised for a positive start on Monday, with benchmark indices likely to open on a gap-up note tracking firm domestic signals and steady global trends. The GIFT Nifty was trading higher by 266 points or 1.07% at 24,921, indicating early strength in trade.
On Thursday, the NSE Nifty 50 closed with a marginal gain of 12 points, or 0.05 per cent, at 24,631, while the BSE Sensex advanced 58 points, or 0.07 per cent, to finish at 80,598.
The domestic equity market is expected to see renewed optimism in the week ahead, buoyed by Prime Minister Narendra Modi’s announcement of “big bang” GST reforms by Diwali, the recent S&P sovereign rating upgrade, and easing global concerns, according to analysts. Trends in global equities and foreign investor activity will also guide sentiment.
Asian Markets
Shares across the Asia-Pacific region traded mixed as investors assessed the outcome of the US-Russia summit, which ended without a ceasefire. Japan’s Nikkei 225 climbed 0.62 per cent, while the Topix index was up 0.42 per cent. South Korea’s Kospi slipped 1.06 per cent and the Kosdaq shed 1.44 per cent. Futures linked to Hong Kong’s Hang Seng index were at 25,214, suggesting a firm opening.
US Markets
US stock futures edged higher after Wall Street logged a winning week, buoyed by expectations of rate cuts from the Federal Reserve. Dow Jones futures were up 0.09 per cent, S&P 500 futures gained 0.11 per cent, and Nasdaq 100 futures advanced 0.18 per cent.
Sovereign Credit Rating Upgrade
India’s credit profile received a boost after S&P Global raised the country’s long-term sovereign rating to ‘BBB’ from ‘BBB-‘, with the short-term rating revised to ‘A-2’ from ‘A-3’. This marks the first upgrade since 2007 and reflects confidence in India’s robust economic fundamentals and policy management.
GST Reforms
The Centre has proposed a significant overhaul of the Goods and Services Tax (GST) structure. The plan reportedly includes scrapping the 12 per cent and 28 per cent slabs, with most items likely to be realigned into the 5 per cent and 18 per cent categories. Certain products currently taxed at 28 per cent may be shifted into a new 40 per cent slab. Policymakers expect the changes to spur economic activity.
Crude Oil Softens
Crude oil prices were trading softer. WTI crude slipped 0.26 per cent to USD 62.64 a barrel, while Brent crude fell 0.37 per cent to USD 65.60.
US Dollar and Rupee
The US Dollar Index (DXY) was trading marginally higher at 97.90 in early deals on Monday. Meanwhile, the Indian currency depreciated 0.10 per cent to close at Rs 87.55 against the dollar on 14 August.
FPI & DII Flows
Provisional NSE data showed that foreign institutional investors (FIIs) offloaded shares worth Rs 2,889.54 crore on 14 August, while domestic institutional investors (DIIs) bought equities worth Rs 3,700.12 crore.
Gold Prices At Record High
Gold prices remained near record highs. The rate for 24-carat gold stood at Rs 100,390 per 10 grams, while 22-carat gold was priced at Rs 92,024 per 10 grams. The 18-carat segment was quoted at Rs 75,293. Prices have gained about 2 per cent in the past month.
Hariprasad K, founder of Livelong Wealth, said, “After a long weekend, Indian equities are set to resume trading on a cautious but optimistic note. The domestic market finally managed to break its six-week losing streak last week. Globally, the market is keeping a close eye on developments around the Trump-Putin dialogue, which has sparked some hope of easing geopolitical stress over Ukraine. While this has created a mildly positive setup, any meaningful upside in Indian markets will require the Nifty to decisively move past the 24,760 level. Until then, gains are expected to remain capped.”
On the domestic front, the government’s proposed GST reforms are expected to lift investor sentiment, particularly across consumption-driven sectors such as FMCG, consumer durables, agriculture, and automobiles. Sectors like banking, telecom, aviation, hotels and capital goods have also benefited from the fact that they remain largely unaffected by tariff pressures. This has kept domestic institutions in a sustained buying mode, even as FIIs continue to sell. Low inflation readings and supportive commentary from the US Federal Reserve further strengthen the macroeconomic backdrop, though export-linked sectors may continue to face headwinds until greater clarity emerges on global tariff issues, he added.
Technical Outlook On Nifty
Technically, the Nifty closed at 24,631.30, with traders expecting a range between 24,530 and 24,760 for Monday’s session. On a broader view, the index is seen oscillating between 24,350 and 24,950 until the weekly expiry on the 21st, Hariprasad K said.
The key level to monitor remains 24,760, as a breakout above this could trigger stronger upward momentum. Meanwhile, India VIX is holding near 12.3, firmly in the low-volatility zone after a sharp slide from July’s high of 19. While this calm phase has helped stability, a breakout above 14 could quickly inject fresh volatility into the market, he added.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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