Overnight cues are supportive — Wall Street and Europe closed at fresh records on Friday and most of Asia is firmly higher this morning — but crude near $85 on Strait of Hormuz uncertainty is the swing factor keeping GIFT Nifty muted ahead of the open.

US: records after a soft jobs print

On Friday (Aug 7) the S&P 500 rose 0.62% to a record 7,757.64, the Nasdaq Composite added 1.30% to 26,690.62 and the Dow gained 0.28% to 54,036.93 (Business Standard, CNBC). The rally followed a weaker-than-expected July jobs report, which pushed traders to bet the Fed leaves rates on hold — lifting odds of a September cut.

Asia this morning

Most Asian markets advanced in early trade, tracking Wall Street. Around 8 am IST Japan's Nikkei 225 was up 1.46% and South Korea's Kospi 0.65% (Business Standard).

Europe (Friday close)

Europe also finished at records: the Euro Stoxx 50 rose 0.33% to 6,523.86 and the pan-European STOXX 600 notched a fourth straight record close, led by German tech (SAP, Infineon); the FTSE 100 also gained (MarketScreener).

India cues: GIFT Nifty

GIFT Nifty was quoted around 24,655, signalling a tepid, near-flat open for the Nifty50, which ended Friday at 24,570.65 (Business Standard). Global optimism is being offset by the oil overhang.

Commodities, currency & yields

• Oil: Brent August futures were around $84.75, up 1.44%, after Iran said it is finalising a Strait of Hormuz arrangement with Oman that only takes effect if US conditions are met; WTI was near $78.8 (Business Standard, Trading Economics).
• Gold: futures eased about 0.5% (Business Standard).
• Currency & rates: the rupee was around ₹95.3 to the dollar at Friday's close, and the US 10-year Treasury yield sits near 4.22–4.24% (exchangerates.org.uk, Trading Economics).

Economic calendar — the real trigger is Wednesday

Monday is light on tier-1 data. The pivotal releases land Wednesday, Aug 12, when both US July CPI and India's July CPI are due; US PPI follows Thursday. US headline CPI is seen +0.1% m/m with core +0.2% (about 2.5% y/y) per a Bloomberg survey (IndexBox); India's CPI was 4.38% in June. A hotter US print would lift yields and the dollar and pressure Indian equities and the rupee; a cooler one supports the September-cut trade and risk appetite.

Headlines & stock movers

• Oil / geopolitics: US–Iran talks on reopening the Strait of Hormuz remain the dominant global driver.
• Q1 earnings deluge: Bosch, Sun Pharma Advanced Research, Info Edge, Gland Pharma, KEC International, Hindustan Copper, Wockhardt and Zee Entertainment are among 40+ results due today (Business Standard).
• IPOs: Dhoot Transmission (₹3,067 cr) and Molbio Diagnostics (₹940 cr) open today; LEAP India and Technocraft Ventures enter day two.

What it means for the India open

Expect a muted-to-flat start. Strong global cues plus a heavy earnings and IPO slate favour stock-specific action over a broad index move. Crude above $84 is the key overhang for oil-sensitive names such as OMCs, paints and aviation, while all eyes turn to Wednesday's twin CPI prints for the next directional cue.

As of 8:46 AM IST, Aug 10, 2026. Sources: Business Standard, CNBC, Trading Economics, IndexBox, exchangerates.org.uk. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.