Markets opened on a cautious note on Friday, August 7, with the Nifty 50 slipping to 24,606.35, down 29.65 points or 0.12 per cent from its previous close of 24,636, while the Sensex opened at 78,516.08 and was trading at 78,712.62, down 242.14 points or 0.31 per cent from its previous close of 78,954.76.
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Markets opened on a cautious note on Friday, August 7, with the Nifty 50 slipping to 24,606.35, down 29.65 points or 0.12 per cent from its previous close of 24,636, while the Sensex opened at 78,516.08 and was trading at 78,712.62, down 242.14 points or 0.31 per cent from its previous close of 78,954.76.
Technology stocks drove the early action on the gainers’ board. Tech Mahindra rose 2.43 per cent to ₹1,671.80, TCS gained 2.33 per cent to ₹2,428.20, and HCL Technologies added 1.87 per cent to trade at ₹1,360. Infosys climbed 0.95 per cent to ₹1,176.10, while Mahindra & Mahindra advanced 1.29 per cent to ₹3,450.
On the losing side, Bajaj Finance fell sharply by 4.07 per cent to ₹1,098.20, with Bajaj Finserv dropping 2.99 per cent to ₹2,023.70. Trent declined 2.32 per cent to ₹3,034.90, Shriram Finance fell 2.05 per cent to ₹1,117.60, and Jio Financial Services shed 0.72 per cent to ₹261.20.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the market formed “a small-bodied candle on the daily charts,” pointing to indecisiveness between buyers and sellers. He flagged 24,700 as the key breakout level for the session, a move above that could target 24,800–24,850, while a drop below 24,600 could drag the index toward 24,500–24,450.
The broader market mood stayed restrained after Wall Street retreated overnight. Investors pulled back from risk assets as crude oil prices rebounded toward $78 per barrel on growing doubts over diplomatic progress involving Iran and the Strait of Hormuz. Higher oil prices pushed US Treasury yields up and revived inflation concerns. Asian markets reflected the same caution, with Japan’s Nikkei and South Korea’s Kospi surrendering early gains to trade about 1 per cent lower.
Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, said the rise in crude “pushed US bond yields higher and prompted investors to reassess the inflation outlook, weighing particularly on growth-oriented sectors.” He added that for India, “the RBI’s policy stance, resilient economic growth, moderating inflation expectations and the gradual return of foreign institutional investors remain supportive for the medium-term outlook.”
On the institutional flows front, Foreign Institutional Investors (FIIs) were marginal net sellers at ₹17.86 crore in the previous session, while Domestic Institutional Investors (DIIs) provided strong support with net purchases of ₹4,013.60 crore.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, offered a sector-by-sector read on the ongoing earnings season: “Most companies in sectors like financials, automobiles, pharmaceuticals and telecom have delivered double digit revenue and profit growth rates,” while IT “continued to face headwinds from sluggish growth and concerns surrounding the AI impact on the sector.” On commodities, he said “it has been a mixed bag,” and cautioned that “elevated valuations will constrain” upward momentum in the broader market.
Globally, the week saw a mixed bag of economic signals. In the US, Fed officials stayed hawkish ahead of the payrolls report, with markets pricing in higher rates for longer. In Asia, China’s July export growth was expected to have cooled but remained resilient, while Japan reported a fall in household spending. The Philippines posted Q2 GDP growth of just 2.3 per cent, well below estimates. Back in India, the Cabinet approved a ₹237 billion biogas push, and July fuel demand hit a four-month high.
Ponmudi R, CEO of Enrich Money, said the MACD “remains above its signal line with a positive histogram, suggesting that the broader bullish bias remains intact despite the recent consolidation,” with the RSI hovering near 62. He pegged immediate Nifty support at 24,600, with resistance at 24,700.
Gaurav Udani, Founder of Thincredblu Securities, advised traders to avoid “aggressive short positions against the prevailing trend,” calling the dip “a caution rather than panic” as long as Nifty holds the 24,400 support zone.
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Published on August 7, 2026