Indian stock market benchmarks are set to open higher on Monday, August 3, driven by a sustained retreat in crude oil prices and supportive global market signals.
The Gift Nifty, a key indicator of overseas sentiment, is trending upward, pointing to a gap-up start for domestic equities.
This positive momentum follows a strong close on Friday, July 31, when both the Sensex and Nifty 50 extended their winning streak for a third consecutive session.
The recent rally has been underpinned by mixed global cues and a notable easing in energy costs, which has alleviated some of the inflationary pressures weighing on the Indian economy.
The decline in oil prices is particularly significant for India, the world’s third-largest oil importer.
Lower input costs improve the trade balance and support corporate margins across energy-intensive sectors.