Stories
GIFT Nifty Falls 100 Points Signaling Weak Start Ahead of RBI Policy
M
Moneycontrol•07-10-2026, 08:18
GIFT Nifty Falls 100 Points Signaling Weak Start Ahead of RBI Policy
- •Indian benchmark indices Sensex and Nifty are poised to open lower after GIFT Nifty dropped about 100 points.
- •Investors remain cautious ahead of the Reserve Bank of India Monetary Policy Committee decision scheduled later today.
- •Asian markets declined broadly despite Wall Street indices hitting record highs overnight.
- •Foreign institutional investors continued selling equities, offloading shares worth Rs 2,961 crore in the previous session.
- •Brent crude rebounded above 101 dollars a barrel amid renewed supply concerns and geopolitical tensions.
Key Questions Answered
Analyst Ponmudi R identifies 22,800 as the immediate resistance for the Nifty, with a potential breakout extending the recovery towards 23,000, while immediate support stands at 22,600 followed by 22,400.
Foreign institutional investors remained sellers for the eighth consecutive session by offloading equities worth Rs 2,961 crore, whereas domestic institutional investors purchased shares exceeding Rs 5,000 crore.
Brent crude rose to $101.51 a barrel due to renewed supply risks driven by a storm heading toward US oil-producing regions and attacks by Yemen's Iran-backed Houthis on Saudi Arabia, though counterweighted by increased Middle East exports.
