Pre-Market 7 May 2026: What To Expect After Nifty Jumps 298 Points; GIFT Nifty Signals Flat Start, US–Iran Deal Hopes Lift Markets

Markets head into Thursday after a sharp rebound in the previous session. The Sensex climbed 941 points to close at 77,958.52, while the Nifty 50 gained 298 points to settle at 24,330.95 on 6 May 2026.

What Happened in Wednesday’s Session?

The Sensex rose more than 1,000 points during the session and touched an intraday high of 78,022.78. The Nifty 50 climbed to 24,356.50 before trimming some gains towards the close.

Sentiment improved after reports suggested the US and Iran were moving closer to a possible agreement to end the ongoing conflict.

The rupee climbed 0.7% to a one-week high of 94.5975 against the US dollar in intraday trade.

Global Cues After Market Hours

Global markets remained firm after Indian trading hours.

In the US, major indices extended their rally. The Dow Jones Industrial Average rose 1.24% to 49,910.59. The S&P 500 gained 1.46% to 7,365.09, while the Nasdaq Composite added 2.03% to 25,838.94.

US markets were supported by continued optimism around artificial intelligence stocks and reports pointing to progress in US–Iran negotiations. Advanced Micro Devices (AMD) also lifted sentiment after forecasting second-quarter revenue above expectations.

European markets ended sharply higher. The FTSE 100 climbed 219.55 points (2.15%) to 10,438.66, while the CAC 40 jumped 237.11 points (2.94%) to 8,299.42, as of 6 May 2026.

In Asia, Japan’s Nikkei 225 rose 5.53% to 62,802.87. Hong Kong’s Hang Seng gained 380.34 points (1.45%) to 26,594.12.

GIFT Nifty Update

GIFT Nifty was around 24,491.00, down 25 points (0.10%) as of 6 May 2026, 21:13 IST. The move was marginal and points to a largely steady start for domestic markets.

Technical Levels To Watch

The Nifty index is approaching an important resistance zone.

• Immediate resistance is placed between 24,450 and 24,500

• A sustained move above this area could push the index towards 24,650 and then 24,800

• On the downside, support is seen near 24,220–24,200

The recent rally has improved near-term sentiment, though traders may watch whether the index can hold above 24,300.

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What Should Investors Expect Today?

Wednesday’s rally helped the Nifty recover sharply from recent consolidation levels.

The broader structure has turned stronger in the short term. Still, the index is now nearing a zone where profit booking has emerged in the past.

Developments around the US–Iran talks will remain important for global sentiment. Investors will also track earnings updates and movements in global equities.

The session could begin on a steady note despite slightly weak GIFT Nifty signals. Momentum remains positive for now, but the next move may depend on whether the market gets fresh triggers.

Sources:

Mint

CNBC TV18

Reuters