Indian Stock Market Likely to Open Lower as GIFT Nifty Points to Red Start

Market Opening

Indian stock markets are set for a lower opening on Wednesday, 7 October 2026, as GIFT Nifty traded near the 22,760.50 level. This shows a drop of nearly 35 points from the previous close of Nifty futures, pointing to a negative start for domestic indices.

Previous Session

Benchmark indices Sensex and Nifty closed significantly higher on Tuesday, marking their second straight day of gains. The 30-share BSE Sensex jumped 685.34 points, or 0.95 percent, to finish at 73,067.81. The 50-share NSE Nifty climbed 220.35 points, or 0.98 percent, to end at 22,776.10. Strong buying in banking shares and Reliance Industries, along with crude oil prices dipping below the USD 100 mark, helped lift investor sentiment.

Expert Views

Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, noted that Wall Street's record highs provide good global support, but high US Treasury yields and caution ahead of the RBI policy keep risk appetite low. Pabitro Mukherjee, Deputy Vice President for Research at Bajaj Broking, added that the Nifty rebound on expiry day came with a 7.9 percent drop in India VIX. Meanwhile, the rupee fell 27 paise to 96.56 against the US dollar.

Global Cues

Asian markets opened lower, snapping their gaining streak. South Korea's Kospi dropped 1.11 percent to 6,864.25 due to tech stock losses, while Japan's Nikkei 225 opened flat and the Topix rose 0.18 percent. Taiwan's TAIEX index gained 0.23 percent. In the US, Wall Street extended gains on Tuesday, with the S&P 500 hitting a new record and closing above 7,800 for the first time, and the Dow Jones rising 0.49 percent to 51,521.04.

Context

Stock markets move constantly based on a mix of local corporate results, currency values, central bank interest rate decisions, and global stock trends. When major indices like GIFT Nifty point down before the opening bell, local traders often brace for a cautious start to the trading day.