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Sensex and Nifty Brace for Cautious Start Amid Global Tensions
5 Aug
Summary
- Gift Nifty trading at a discount, indicating tepid start for Indian markets
- Sensex and Nifty 50 likely to open cautiously due to Trump's tariff threat
- Analysts see potential for a technical bounce-back, but caution remains
According to the news article, the Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a cautious note on Tuesday, August 5, 2025, amid concerns over US President Donald Trump's threat of higher tariffs, despite upbeat global market cues.
The trends on the Gift Nifty, an indicator of the Indian market's opening, suggest a tepid start for the benchmark index. The Gift Nifty was trading around the 24,757 level, a discount of nearly 37 points from the Nifty futures' previous close.
However, analysts see potential for a technical bounce-back in the short term, as the market's texture is currently weak but oversold. Shrikant Chouhan, Head of Equity Research at Kotak Securities, believes that 80,600 and 80,500 would act as key support zones for the Sensex, while 81,500 - 81,800 could be the key resistance areas for the bulls.
Mayank Jain, a Market Analyst at Share.Market, also sees immediate resistance for the Sensex in the 81,500 - 81,700 zone, and a breakout above this range could pave the way for a move towards 82,200. On the downside, support is expected between 80,700 - 80,500, with a breakdown potentially pulling the index lower towards the 80,000 - 79,800 zone.
For the Nifty 50, a firm close above 24,800 would be crucial to reviving bullish momentum and improving overall market sentiment, according to Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking.
