Wall Street traded with a split personality overnight — the Dow closed at a fresh record while megacap tech pulled back — and with crude softening on US–Iran de-escalation hopes, GIFT Nifty is pointing to a firm but cautious open for the Nifty on a weekly F&O expiry day.

US prior close (Aug 5)

The Dow rose 0.49% to a record 54,349.12, but the S&P 500 slipped 0.17% to 7,723.55 and the Nasdaq fell 0.83% to 26,363.44 as investors took profits in tech. SpaceX (SPCX) tumbled ~12% on heavy AI-capex worries despite an earnings beat — now below its $135 IPO price — and AMD fell ~8% after strong Q2 numbers failed to clear sky-high expectations. Energy and industrials cushioned the Dow. (TheStreet, Washington Post)

Asia now

Mixed-to-lower this morning as the region books profits after this week's record run: Nikkei 225 down ~1.7% and Kospi off nearly 4%; Hang Seng and Shanghai around flat. (Business Standard)

Europe (prior close)

Euro Stoxx 50 +1.2% (~6,440), FTSE 100 +0.4%, with the DAX also firm — supported by easing geopolitics and earnings. (24/7 Wall St.)

India lead — GIFT Nifty

GIFT Nifty was near 24,674 around 7:30 am, a premium of roughly 40 points over Nifty futures' prior close — signalling a modest positive open. India ended Aug 5 nearly flat after the RBI: Sensex +0.19% at 78,581, Nifty +0.04% at 24,624.65. (DSIJ, Business Standard, HDFC Sky)

Commodities & currency

Brent eased to about $79.3/bbl (-0.2%) and WTI near $76 as traders bet on a US–Iran deal to reopen the Strait of Hormuz; gold sits near $4,230/oz after its safe-haven surge. USD/INR ~95.60 (rupee soft on firmer US yields), DXY ~100.9, and the US 10-year yield ~4.6%. (Reuters, FXStreet)

Global sentiment

Cautious risk-on — a record Dow and softer oil versus a Nasdaq wobble and a sharp Kospi drop.

Data & events today

• India: weekly F&O expiry and the Q1 earnings wave in focus. The RBI held the repo at 5.25% (neutral stance) yesterday, nudging its FY27 GDP forecast up to ~6.7% and trimming CPI to ~5% — supportive for rate-sensitives. July HSBC Services PMI had already cooled to 53.1.
• US & global: weekly US initial jobless claims (~6:00 pm IST) — the warm-up to Friday's US jobs report (non-farm payrolls). Any Strait-of-Hormuz headline can swing oil, and with it India's inflation, OMCs and the rupee. A weaker US claims/jobs print would revive Fed-cut hopes and typically helps EM flows into India.

Stocks in focus

Bharti Airtel (Q1 net +37%), ONGC (Q1 profit more than doubled to ~Rs 17,034 cr), and Nykaa (Q1 profit up ~3.3x) headline earnings; LIC is in the spotlight as the government's OFS opens. FIIs were net buyers (~Rs 2,446 cr on Aug 4), a steady tailwind. (Business Standard)

What it means for the India open

Softer crude, a growth-supportive RBI and steady FII inflows argue for a firm start — but mixed Asia, a wobbly Nasdaq and F&O-expiry positioning could cap gains. Keep one eye on oil: any Strait-of-Hormuz headline will set the tone for energy names, OMCs and the rupee.

As of 8:45 AM IST, Aug 6, 2026. Sources: TheStreet, Business Standard, HDFC Sky, Trading Economics. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.