Pre-Market 4 August 2026: GIFT Nifty Softens After Market Rally; Can Bulls Stay In Control?

Indian equities enter Tuesday's session after extending their winning streak on Monday, supported by lower crude oil prices, renewed foreign inflows and another broad-based rally.

Overnight, Wall Street advanced as hopes of easing tensions in West Asia weighed on oil prices, while GIFT Nifty is trading slightly below the previous Nifty close, signalling a cautious start.

The Sensex gained 544 points, or 0.70%, to close at 78,639, while the Nifty 50 rose 391 points, or 1.60%, to finish at 24,774.30.

Why Was Nifty Up?

Indian benchmark indices ended higher for the fourth straight session, with buying seen across large-, mid- and small-cap stocks.

The rally extended beyond frontline stocks. The Nifty Midcap 100 climbed 1.21%, while the Nifty Smallcap 100 advanced 1.29%.

The surge added more than ₹4 lakh crore to investor wealth, taking the total market capitalisation of BSE-listed companies to around ₹490.5 lakh crore.

Over the past four trading sessions, the Sensex has added more than 1,850 points, while the Nifty 50 has climbed about 800 points.

Several factors supported the move. Brent crude slipped close to $84 a barrel, the rupee strengthened to 95.31 per US dollar, foreign portfolio investors returned as buyers in July, and better-than-expected June-quarter earnings continued to support sentiment.

How Have Global Markets Performed Overnight?

Wall Street started August on a positive note as lower crude oil prices and hopes of easing tensions in West Asia lifted investor sentiment.

On 3 August, the Dow Jones gained 693.38 points to 53,178.41. The S&P 500 rose 110.78 points to 7,600.50, while the Nasdaq Composite added 540.04 points to 25,913.90.

European markets ended mixed. The FTSE 100 closed at 10,857.70, down 10.35 points, while France's CAC 40 finished higher at 8,613.82.

In Asia, the Nikkei 225 closed at 63,754.90, while the Hang Seng Index ended at 26,009.40.

GIFT Nifty Today

On 4 August at 7:37 am, GIFT Nifty was trading at 24,635.00, down by 0.12%. The contract is trading below the previous Nifty close of 24,774.30, indicating a weak opening trend.

What Are The Key Levels For Nifty?

The 24,920-24,950 zone remains the first resistance area for the Nifty.

A sustained move above this band could open the door towards 25,100, followed by 25,250.

On the lower side, the 24,630-24,600 range will be the first support zone to watch.

What Could Shape Tuesday’s Trade?

Crude oil will remain on traders' radar after its sharp decline on hopes of a possible US-Iran peace deal. Any fresh development from West Asia could quickly change the mood across global markets.

The June-quarter earnings season is still underway, with several companies set to report results. The earnings calendar remains busy, and quarterly results are expected to keep individual stocks in focus.

Investors will also look at whether foreign buying continues after FPIs turned net buyers in July. Oil prices and the rupee will be watched alongside global developments.

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