Nifty Set For Positive Open As Gift Nifty Signals Modest Gains

Indian markets are poised for a positive start on Friday, July 17, 2026, as Gift Nifty indicates a potential gap-up of approximately 30 to 38 points. This anticipated upward momentum arrives despite a challenging global backdrop, characterized by a broad sell-off in US technology stocks and a generally weak opening across major Asian indices.

The overnight session on Wall Street saw significant declines, with the Nasdaq Composite shedding approximately 1.47%, the S&P 500 falling about 0.51%, and the Dow Jones Industrial Average down approximately 0.20%. Semiconductor stocks were the primary drivers of this downward pressure, while Asian markets largely followed suit, with Japan's Nikkei 225 retreating by 2.9% to 3.82% and Australia's S&P/ASX 200 declining by 0.7%.

While the Nifty 50 closed slightly lower on Thursday, the resilience shown by the index despite negative global cues suggests underlying buying interest. Investors will be closely monitoring crude oil prices, which are trading near $85 per barrel for Brent, as escalating tensions in the Middle East continue to influence sentiment and energy-linked stocks throughout the trading session.