Pre-Market 31 August 2026: GIFT Nifty Down As Fed Rate Signals Weigh On Global Sentiment

Indian equities are set to start a new week after the benchmark indices snapped a two-session losing run on Friday. The Nifty 50 closed above 24,150, helped by a strong move in IT stocks, while lower crude prices offered some relief.

The focus now shifts to global rate signals. Kevin Warsh's remarks at the Jackson Hole Fed meeting 2026 pushed back against expectations of an easy September policy move, while US stocks ended lower.

How Did Sensex, Nifty Close On Friday?

The BSE Sensex gained 330.91 points, or 0.43%, to close at 77,264.51. The Nifty 50 rose 84.80 points, or 0.35%, to 24,175.65.

IT stocks led the recovery after Nvidia's latest results supported sentiment towards technology shares. The Nifty IT index was among the better-performing sectoral indices. Pharma and some other pockets also remained firm, while the broader market ended higher.

The rebound came after a volatile expiry week. Crude prices also eased during the week, with Brent ending Friday at $88 a barrel. That decline has taken some pressure off oil-sensitive markets.

Global Markets Recap

Wall Street closed lower on Friday after Federal Reserve Chair Kevin Warsh stressed that the central bank still has work to do to bring inflation back towards its 2% target. Warsh's comments led markets to reassess the chances of a September rate move.

The Dow Jones Industrial Average slipped 0.018% to 53,559.99, while the S&P 500 fell 0.25% to 7,711.76. The Nasdaq Composite declined 0.52% to 26,402.42.

European markets, meanwhile, finished higher. The FTSE 100 added 0.29% to 10,824.26, while the CAC 40 gained about 1%.

Asian markets ended Friday on a positive note. The Nikkei 225 rose 0.41% to 66,405.56, while the Hang Seng Index was almost flat at 25,584.79.

GIFT Nifty Cues

On 31 August at 7:26 am, GIFT Nifty was trading at 24,238.50, down 73.50 points, hinting at a negative opening for Indian benchmarks on Monday.

Key Nifty 50 Levels To Watch

Nifty 50 moved back into its rising channel on Friday, but the index remained below the 50-day Exponential Moving Average (EMA).

• On the downside, 24,025-24,000 is the key support zone. A decisive break below this area could bring 23,900-23,800 into focus.

• On the upside, 24,300-24,400 is the immediate resistance range. A sustained move above this zone would improve the near-term setup.

What Could Shape Monday's Trade?

Fed policy expectations are likely to remain in focus after Warsh's comments. Any fresh move in US Treasury yields or the dollar could also influence sentiment in rate-sensitive and technology stocks.

Oil remains another variable for Indian equities. Brent's move below $90 a barrel is a recent relief factor, while developments in the Middle East could quickly alter the picture.

Traders will also track the opening trend across Asian markets and the latest GIFT Nifty reading before the Indian market opens.

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