What Gift Nifty Signals for Today’s Market Opening

Gift Nifty Signals Sharp Gap-Down Opening Despite Nvidia-Led US Rally

Gift Nifty was trading at 24,210.50, down 1.19% at 6:30 AM on 28 August 2026, indicating a sharply weak opening for the Indian stock market. The strong overnight rally in the Nasdaq and Nvidia shares provides a positive technology cue. However, Gift Nifty’s steep decline and continued uncertainty over the Strait of Hormuz suggest that domestic equities may remain volatile.

Gift Nifty Today at a Glance

Gift Nifty declined nearly 149 points from its opening level and traded close to the day’s low. The wide intraday range and failure to sustain above 24,350 indicate strong selling pressure and the possibility of a substantial gap-down opening.

Support is visible around 24,165–24,100, while immediate resistance is placed at 24,300–24,360.

US Markets Rise After Nvidia Guidance

US stock markets closed higher on Thursday as Nvidia’s strong results and revenue outlook lifted technology shares.

Nvidia shares surged 8.7% after the company exceeded analyst expectations and forecast robust revenue growth. Its fiscal second-quarter revenue more than doubled, while projected growth for fiscal 2028 was substantially higher than market estimates.

It was the strongest session since 4 August for the Nasdaq, S&P 500 and technology sector. These developments may support Indian IT and technology-related shares, although the sharply negative Gift Nifty signal could restrict the benefit.

Global Technology Sentiment Improves

The strong Nasdaq rally reflects renewed investor confidence in artificial intelligence, semiconductors and technology spending. Nvidia’s revenue guidance indicates that demand for AI infrastructure remains powerful.

Indian IT shares and technology-related companies may receive selective buying support. Nevertheless, the domestic market’s reaction will depend on whether Gift Nifty recovers after the opening and whether geopolitical concerns intensify.

Crude Oil, Gold and Commodities

Crude oil and Brent remained largely unchanged but continued to trade at elevated levels. Higher energy prices remain unfavourable for India because they can increase the import bill, inflationary pressure and demand for the US dollar.

Gold declined marginally, while silver and copper moved higher. The sharp rise in coal prices may benefit coal producers but could increase input costs for power-intensive industries.

Iran and Hormuz Developments

Iranian security chief Mohsen Rezaei said that Tehran was preparing a list of conditions for reopening the Strait of Hormuz following requests from mediators. He indicated that the US would first have to take practical steps to meet Iran’s demands.

Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani held discussions in Tehran covering the future of the Strait and the possibility of renewed US-Iran dialogue.

Diplomatic activity provides some hope of de-escalation. However, the Strait remains a major risk for global energy supplies, and any delay in reaching an agreement could keep crude oil prices volatile.

Key Positive and Negative Triggers

Indian Stock Market Outlook Today

Indian equities are likely to open sharply lower despite positive overnight cues from Wall Street. Traders should closely observe the first 30–45 minutes because a recovery from the opening lows may trigger short covering.

A sustained move above 24,300 can lead to 24,360 and 24,405. Below 24,165, weakness may extend towards 24,100 and 24,000. Technology shares may outperform relatively, while aviation, paints, tyres and other crude-sensitive sectors could remain under pressure.

Chanakya View

Gift Nifty indicates a sharp negative opening, although Nvidia’s strong earnings and the Nasdaq rally may prevent indiscriminate selling in technology shares. The domestic market could remain volatile due to elevated crude oil and continuing uncertainty over the Strait of Hormuz.

Traders should avoid aggressive positions immediately after the opening. A recovery above 24,300 may attract short covering, while a sustained fall below 24,165 would confirm further weakness. Maintain strict stop-losses and prefer selective opportunities in fundamentally strong IT, banking and defensive shares.