GIFT Nifty signals weak opening amid global risk-off mood
GIFT Nifty:
GIFT Nifty September 2026 futures were down 51 points, indicating a negative opening for the Nifty 50 amid weak global cues.
HDFC Bank will be in focus after managing director and CEO Sashidhar Jagdishan decided not to seek reappointment. He will step down at the close of business on 26 October 2026, when his current term ends. The lender informed the exchanges of his decision on Saturday. The bank's board has also decided to expedite the process of identifying and appointing his successor.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 5,039.80 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,183.93 crore in the Indian equity market on 28 August 2026, according to provisional data.
FPIs bought shares worth Rs 18790.32 crore in August so far, through 28 August 2026. This follows net cash purchases of Rs 6,731.97 crore in July 2026, while they were net sellers of Rs 53,957.90 crore in June 2026.
Global Markets:
US stock futures were trading 156 lower on Monday, signalling a weak opening for Wall Street, while most Asian markets declined as investors assessed a more hawkish policy outlook from Federal Reserve Chair Kevin Warsh and renewed US-Iran tensions. Warsh said the Fed would have ?work to do? if it was not confident that underlying inflation was returning to its 2% target, prompting markets to raise the probability of a September rate hike to around 57%.
Asian technology stocks came under pressure as higher expected borrowing costs weighed on risk appetite.
Oil prices rose after the US military struck Iranian missile launchers near the Strait of Hormuz. Brent crude climbed to around $89.30 a barrel, raising concerns over a renewed escalation and potential disruption to oil supplies through the key shipping route.
China's manufacturing activity remained in contraction for a second consecutive month in August, although the pace of decline eased. The official manufacturing Purchasing Managers' Index rose to 49.8 from 49.2 in July, remaining below the 50 mark that separates expansion from contraction. The reading was also better than economists' expectations.
US equities ended lower on Friday after Warsh's Jackson Hole speech revived concerns over tighter monetary policy. The S&P 500 fell 0.25% to 7,711.76, the Dow Jones Industrial Average slipped 0.02% to 53,559.99 and the Nasdaq Composite declined 0.52% to 26,402.42.
The combination of higher rate expectations, elevated bond yields and renewed geopolitical tensions has increased pressure on global risk assets. Markets will now turn to upcoming US employment and inflation data for further clues on the Federal Reserve's policy path.
Domestic Market:
Key equity benchmarks rebounded on Friday, snapping a two-session losing streak, as a sharp rally in IT stocks helped offset weakness in select heavyweight banking and consumer-facing stocks. The rally in IT shares was supported partly by stronger global technology sentiment following upbeat Nvidia results. Pharma and metal stocks also gained, while FMCG and consumer durable stocks declined. Investor sentiment remained cautious ahead of Kevin Warsh's speech later today. Warsh is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for clues on the US central bank's monetary policy outlook. Firm crude oil prices also weighed on sentiment.
The S&P BSE Sensex advanced 330.92 points, or 0.43%, to 77,264.51, while the Nifty 50 index gained 84.80 points, or 0.35%, to 24,175.65. Over the previous two sessions, the Sensex and Nifty had declined 0.93% and 1%, respectively.
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