Nifty 50 and Sensex seen opening lower on July 8 as global cues weaken and oil rises
AI Market Summary
Indian equities are set for a weaker open as global risk sentiment deteriorates amid escalating US-Iran tensions and higher crude prices. Recent declines in Nifty 50, Sensex and Bank Nifty, alongside bearish daily candles and concentrated options positioning near 24,300–24,400, suggest near-term consolidation with downside risk if key supports (Nifty 24,200–24,250) are breached. Higher energy costs may pressure margins and inflation expectations.
Impact level
● Medium
Affected assets
NCSINIFTY52USD/USDT+0.11%
AI Insight · NCSINIFTY52USD/USDTAI Insight
▼ Bearish
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India’s benchmark Nifty 50 and Sensex are expected to open lower on July 8, weighed by weaker global markets, escalating US-Iran tensions and higher crude oil prices. In the previous session, the Nifty 50 fell 0.13% to 24,398.70 and the Sensex slipped 0.13% to 78,180.72, while the Bank Nifty edged down 0.16%. Technical signals point to bearish daily candles, with key support levels seen at 24,200–24,250 for the Nifty, 77,700 for the Sensex and 57,700–57,800 for the Bank Nifty.
