A powerful risk-on mood carries into Dalal Street this morning: Wall Street closed at fresh records and Asia is surging up to 3% after US Treasury Secretary Scott Bessent flagged a possible US–Iran deal that would reopen the Strait of Hormuz — dragging oil below $80 (per Business Standard). GIFT Nifty points to a gap-up open, but the single biggest swing factor today is the RBI rate decision at 10 AM.

US prior close (Aug 4)

A rebound in AI-themed megacaps lifted all three benchmarks to records. The Dow rose 1.71% to 54,085.88 (above 54,000 for the first time), the S&P 500 gained 1.79% to 7,736.49 — its first record close since June — and the Nasdaq jumped 2.59% to 26,584.99 (as reported by Business Standard / TheStreet).

Asia live now

• Nikkei 225: up ~3% — riding the Wall Street tech rally and softer oil.
• Kospi: up ~3.3%, leading the region.
• The broader Asia-Pacific traded higher across the board on the US–Iran de-escalation news (Business Standard).

Europe (Aug 4 close)

Euro Stoxx 50 +1.2% to ~6,440; the DAX and FTSE 100 also finished higher (roughly +0.9% and +0.4%), tracking the global relief rally on easing West Asia tensions (Trading Economics / Eurasia Business News).

India lead — GIFT Nifty

GIFT Nifty ~24,728, up ~172 points (~0.7%), signalling a gap-up open for the Nifty50 (Business Standard). Direction now hinges on the RBI tone at 10 AM.

Commodities, currency & yields

• Brent crude: ~$79.16, -0.25%, slipping below $80 on hopes a US–Iran deal ends supply disruptions; WTI ~$75.4 (Business Standard / Trading Economics). A boon for India's import bill.
• Gold: ~$4,096/oz, +0.4% (Trading Economics).
• USD/INR ~95.6; Dollar index (DXY) ~100.9, +0.1%; US 10-year yield ~4.23% (FXStreet). Firm yields keep the rupee on the back foot.

Economic data due today

• India — RBI MPC decision, 10 AM: Governor Sanjay Malhotra is widely expected to hold the repo rate at 5.25% for a fourth straight meeting and keep a neutral stance, with the FY27 GDP forecast near 6.6% (Angel One / Goodreturns). A surprise cut would be a rate-sensitive booster (banks, autos, realty); hawkish commentary on inflation/oil could cap the rally.
• India — HSBC/S&P Global Services & Composite PMI (July final) due; the flash Services print had cooled to 53.1 — a soft final would flag slowing domestic demand.
• US — ADP private payrolls, ISM Services PMI, S&P Global Services PMI (July) and EIA crude inventories tonight (Investing.com). Weak ADP/ISM would revive Fed rate-cut bets — supportive for FII flows into India; hot prints lift yields and pressure the rupee.

Headlines & movers

• Q1 earnings: ONGC profit more than doubled to ₹17,034 cr on higher crude; Bharti Airtel net profit rose 37%; Nykaa profit jumped 3.3x. Results due today from Power Grid, Cummins India, Biocon, Aurobindo Pharma and PB Fintech.
• LIC OFS opened — the government is selling up to ~6.5%; the stock fell ~8% on the offer.
• Auto-ancillary names (Gabriel, Sansera, Uniparts) hit record highs.
• US: Palantir soared and SpaceX/AMD reported after the bell.

What it means for the India open

Strong global cues, a gap-up GIFT Nifty and sub-$80 oil set up a firm start. But moves are likely to stay two-way and headline-driven until 10 AM — the RBI's rate call and its inflation/growth language will decide whether the open holds or fades. Expect action in rate-sensitives, oil marketers and OMCs, and the day's earnings movers.

As of 8:45 AM IST, Aug 5, 2026. Sources: Business Standard, TheStreet, Trading Economics, Angel One, Investing.com. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.