A powerful overnight rebound on Wall Street — the Nasdaq surged 2.8% as the megacap-tech and AI trade roared back — sets a risk-on tone for Dalal Street, but elevated US bond yields and Brent near $90 argue for a measured, stock-specific open rather than a broad melt-up.

Wall Street (prior close, Thu Jul 30)

US stocks rebounded sharply from Wednesday's Fed-driven sell-off, per CNBC and The Washington Post: the Dow rose 613.92 pts (+1.2%) to 52,208.06, the S&P 500 gained 1.7% to 7,437.64, and the Nasdaq jumped 2.8% to 25,122.18. Microsoft and semiconductors led the recovery after the Fed left rates on hold with a hawkish tilt.

Asia now & Europe

Asia is broadly firmer this morning as the tech bounce revived AI sentiment (Bloomberg): Nikkei 225 up ~1.8%, Kospi ~+0.9%, Hang Seng ~+0.2%, while Shanghai is flat-to-slightly lower. European bourses closed firmly higher Thursday; traders now eye German and Eurozone Q2 GDP and July inflation flashes.

India lead: GIFT Nifty

Per 5paisa and Univest, GIFT Nifty is near 24,413 (about +0.2%), up ~50 pts from Thursday's close — signalling a modestly positive Nifty open. Prior session: Nifty 50 closed 24,317.15 (+67) and Sensex 77,928.15 (+273).

Commodities, currency & rates

• Brent ~$90.0 (-0.8%), WTI ~$83.9 (-0.7%) — crude near $90 is a key watch for OMCs and inflation (Trading Economics).
• Gold ~$4,086/oz, hovering around $4,100 (Trading Economics).
• USD/INR ~95.60 (FXStreet); Dollar index ~100.98; US 10-year yield ~4.7%, with the 30-year near a multi-year high — a headwind for rate-sensitives.

Data due today (month-end — a heavy slate)

• India: June fiscal deficit and June core-sector / infrastructure output after market hours; RBI's weekly forex reserves this evening.
• US: June PCE — the Fed's preferred inflation gauge (core running above 3% y/y); a hot print reinforces higher-for-longer. Also Q2 Employment Cost Index, Chicago PMI, and final Michigan sentiment.
• Europe: Eurozone Q2 GDP flash and July CPI flash; German CPI and Q2 GDP.
• Autos: July vehicle sales (Maruti, Tata Motors, M&M, Bajaj, Hero) start rolling in from tomorrow — autos in focus.

Headlines & movers

Q1 FY26 earnings season is at its peak — Maruti Suzuki, Adani Green and GAIL are among today's results, so expect results-driven moves. The overnight driver globally remains the AI/megacap-tech rebound (Microsoft, chipmakers).

What it means for the India open

A firm Wall Street close and higher Asia set up a modestly positive Nifty open near 24,400. But rich US yields, Brent at $90 and a packed earnings-plus-data day favour a range-bound, stock-specific session over a broad rally. Watch autos ahead of July sales and IT/rate-sensitives into the US PCE print.

As of 8:46 AM IST, Fri Jul 31, 2026. Sources: CNBC, The Washington Post, Bloomberg, Trading Economics, FXStreet, 5paisa, Univest, Business Standard. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.