Sensex, Nifty likely to open in green; GIFT Nifty futures up over 200 pts as Asian market indices rally

Domestic equity benchmarks, Sensex and Nifty will likely open in positive territory today (August 6, 2024). At around, 7:00 am GIFT Nifty futures, an early indicator of the Nifty50 index were up 205 points or 0.85 per cent at 24,308 ahead of opening on the Dalal Street.

Global markets show mixed performance

US Markets

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• Dow Jones futures were up almost 300 pts or 0.76 per cent.
• Nasdaq futures were down 576 pts or 3.43 per cent.
• S&P 500 was down 160 pts or three per cent.

Asian Markets

• The Nikkei 225 index is up over 2,653 pts or 8.44 per cent.
• Hang Seng is up 207 pts or 1.23 per cent

Other triggers that will impact the market

• Dow Jones falls for the third day, down 1033 points
• Metals decline, LME Copper hits 6-month low
• Heavy selling by Foreign Institutional Investors (FIIs), strong buying by domestic funds
• Mixed results from ONGC and Bharti Airtel
• Bangladesh crisis: Operations of LIC company, come to a halt

Moreover, on August 5, both domestic headline indices finished the session in the negative zone. Sensex fell as much as 3.31 per cent from the previous close, while the 50-share index dropped 3.33 per cent from the last close.

What should investors/traders track today?

Q1 Results: Bharti Airtel, Tata Chemicals, and other major companies unveiled their April-June quarter results on August 5, 2024.
Corporate Actions: Grasim Industries, IPCA Labs, L&T Foods and other companies are set to deliver the final dividend.