Indian markets set for positive open as Gift Nifty trades at premium

Gift Nifty signals a higher start for Indian benchmarks, contrasting with broader Asian weakness and recent semiconductor profit-taking on Wall Street.

By Handelsavisen Newsroom · Automated 2026-07-02 01:41 UTC · 1 min read

Indian equity benchmarks are poised to open higher on Wednesday, July 2, driven by a positive signal from the Gift Nifty indicator.

The pre-market gauge was trading around the 24,187.5 level, marking a premium of nearly 95 points above the previous close of Nifty futures.

This positioning suggests a mildly positive start for the Sensex and Nifty 50, defying the broader trend of weakness seen across Asian markets overnight.

The upbeat pre-market sentiment stands in contrast to the recent pullback in global technology shares.

Wall Street closed lower on Tuesday as semiconductor stocks faced profit-taking, with names like Micron and SanDisk leading a selloff that tested the resilience of the AI trade.

Despite the headwinds from US tech giants, Indian market participants appear to be pricing in a more resilient opening, potentially decoupling from the immediate pressure on US semiconductor valuations.