Pre-Market Report (29 Aug 2025): GIFT Nifty up 70 pts, steady global cues
Quick Highlights
- GIFT Nifty up 70 pts near 24,720 — positive open likely.
- Wall Street ends higher on tech gains; Asia mixed.
- FIIs net sellers ₹3,950 cr; DIIs buyers ₹4,200 cr.
- India VIX eases 2.5%, suggesting reduced volatility.
- Nifty support 24,500; resistance 24,900–25,000.
- Sectors to watch: Banks, IT, FMCG, Metals, Pharma.
Global Market Recap
U.S. markets ended on a firm note overnight. The Dow gained 0.4%, S&P 500 added 0.5% to close at record highs, and Nasdaq surged 0.6% led by technology stocks. Asian peers trade mixed this morning, with Nikkei flat, Hang Seng up 0.4%, while Shanghai Composite is marginally lower. European markets closed subdued amid tariff concerns and higher energy prices.
Global Indices Snapshot
| Index | Last Close | Change | % Change |
|---|---|---|---|
| Dow Jones | 39,250 | +160 | +0.41% |
| S&P 500 | 5,310 | +27 | +0.52% |
| Nasdaq | 17,340 | +105 | +0.61% |
| FTSE 100 | 8,190 | -20 | -0.24% |
| Nikkei 225 | 33,360 | +5 | +0.01% |
| Hang Seng | 18,320 | +70 | +0.38% |
| Shanghai Comp. | 3,040 | -8 | -0.26% |
GIFT Nifty & Volatility
As of 7:30 AM, GIFT Nifty is trading at 24,720, about 70 points higher than yesterday’s close, signalling a positive open for Indian equities. India VIX declined by 2.5% to 11.9, reflecting reduced volatility expectations after two days of heightened swings.
FII / DII Flows
FIIs remained net sellers yesterday, offloading equities worth ₹3,950 crore, continuing their cautious stance amid global uncertainty. However, DIIs absorbed the selling with net purchases of ₹4,200 crore, reflecting strong domestic institutional confidence.
Sectoral Outlook
Banks & Financials
Banks may rebound today after yesterday’s correction. SBI and Axis Bank are in focus as DIIs add positions. However, private banks like HDFC Bank remain vulnerable to FII selling.
IT Sector
Infosys, TCS, and HCL Tech may see positive momentum supported by Nasdaq gains and a weaker rupee. Investors may eye fresh long positions in select IT names.
FMCG & Pharma
HUL, ITC, and Sun Pharma could see steady inflows, providing defensiveness. Traders may rotate towards FMCG and Pharma amid volatility.
Metals & Autos
Metals may remain under pressure from tariffs; Tata Steel, JSW Steel in focus. Autos like Maruti and Tata Motors could gain on festive season optimism.
Stocks in Focus
- Reliance Industries: Energy price moves keep stock active.
- Infosys: Expected to rise on Nasdaq gains and rupee support.
- HDFC Bank: May stay weak amid persistent FII selling.
- Maruti Suzuki: Likely to gain ahead of festive sales optimism.
- SBI: Stable performance backed by steady loan growth.
Rupee & Commodities
The rupee may open steady around 87.05/USD. Crude oil hovers near $78/bbl while gold remains firm near $1,980/oz, reflecting safe-haven demand. Industrial metals are subdued due to trade concerns.
Technical Outlook
Nifty support levels are placed at 24,500 and 24,400 while resistance is seen at 24,900 and 25,000. Bank Nifty has support at 54,800 and resistance near 55,700. Chart structure suggests cautious optimism today.
Trading Strategy
Traders can consider buy-on-dips strategy near 24,600 with a stop-loss below 24,500 and targets around 24,850–24,900. IT and FMCG remain preferred defensives. Avoid heavy leverage in Bank Nifty as volatility may persist.
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