GIFT Nifty futures signal a higher opening for Indian stocks on Thursday, even as rising crude oil prices weigh on sentiment. Investors are balancing domestic buying momentum against global geopolitical tension following the end of the US-Iran ceasefire.
Indian equity markets are set for a positive start on Thursday, supported by an 85-point gain in GIFT Nifty futures. This momentum arrives despite growing uncertainty in global energy markets after the breakdown of the ceasefire between the United States and Iran. With Brent crude oil prices climbing toward $80 per barrel, the energy sector and importing companies face potential pressure due to rising input costs.
Global Market Context
While Indian futures show strength, global sentiment remains mixed. Asian markets have shown resilience, with Japan’s Nikkei 225 rising 2.22% and South Korea’s Kospi gaining 3.74%. In contrast, US stock futures for the Dow Jones Industrial Average and the S&P 500 indicated a cautious start following Wednesday’s sell-off. The divergence between regional performance and US futures suggests that investors are closely evaluating how geopolitical risks might affect global inflation and interest rate policies.
Impact of Rising Oil Prices
Brent crude futures reached $78.73 per barrel, while WTI crude rose to $74.17. For India, which is one of the world's largest importers of oil, sustained price increases can lead to higher import bills, potentially impacting the current account balance and domestic inflation. Investors may monitor how this affects companies heavily dependent on fuel, such as those in the aviation, logistics, and oil marketing sectors.
Market Liquidity and Currency Trends
Despite the external risks, institutional interest in Indian equities remains active. On July 8, 2026, provisional NSE data showed that Foreign Institutional Investors (FIIs) remained net buyers with a total inflow of Rs 1,962.80 crore, while Domestic Institutional Investors (DIIs) added Rs 790.16 crore. This sustained buying suggests that domestic market depth is currently helping to buffer against broader geopolitical concerns.
Commodities and Currency Watch
Precious metals saw a mixed reaction. While COMEX gold traded flat at $4,084.70, domestic rates for 24-carat gold declined by 1.18% to Rs 1,43,890 per 10 grams. Similarly, domestic silver rates saw a notable drop of 3.35% to Rs 2.29 lakh per kilogram. On the currency front, the Indian rupee closed at 95.56 against the dollar on July 8, marking a depreciation of 0.62%. The performance of the rupee remains a key monitorable, as a weaker currency can increase import costs for domestic firms already struggling with higher oil prices.