28 Aug 2026 (Navroze Bureau) : Indian stock markets are likely to open on a positive note, with GIFT Nifty pointing to gains for the Sensex and Nifty 50. Strong overnight gains on Wall Street, led by Nvidia, and softer crude oil prices are supporting investor sentiment.
Nvidia Sparks Global AI Rally
US markets received a major boost from Nvidia after the chipmaker reported stronger-than-expected results and delivered an upbeat outlook.
Nvidia shares surged 8.7%, while the Nasdaq Composite gained 1.57%. The S&P 500 rose 0.72% and the Dow Jones Industrial Average advanced 0.20%.
The strong performance has renewed optimism around artificial intelligence spending and could provide a positive cue for Indian technology stocks.
GIFT Nifty Points to Firm Opening
GIFT Nifty was trading higher in morning deals, signalling that domestic benchmark indices could begin the session with gains.
However, traders are likely to remain cautious as global markets continue to face uncertainty over inflation, interest rates and geopolitical developments.
Softer Oil Prices Offer Relief
A decline in crude oil prices is another positive factor for Indian equities.
Lower oil prices can benefit India because the country imports a significant portion of its crude requirements. Softer energy costs can ease pressure on inflation, the current account and corporate input costs.
Brent crude was recently trading around $88.24 a barrel, while US crude stood near $83.17, according to market reports.
IT Stocks in Focus
The Nvidia-led rally is likely to keep Indian IT and technology stocks in focus.
Investors may look for gains in companies with exposure to artificial intelligence, cloud computing and digital services as optimism around global technology spending strengthens.
The IT sector has recently benefited from Nvidia-related optimism, with India’s IT index gaining sharply in a recent session.
Asian Markets Mostly Positive
Asian equities also received support from the strong US technology rally.
Japan’s Nikkei 225 gained 0.8%, Hong Kong’s Hang Seng rose 0.3% and Taiwan’s Taiex added 0.3%, while South Korea’s Kospi moved lower.
The mixed regional trend suggests that investors remain selective despite the positive global technology cue.
Key Factors to Watch
Apart from global technology stocks and crude prices, traders will track the rupee, foreign institutional flows, bond yields and geopolitical developments.
Domestic market breadth and movements in heavyweight banking, IT and energy stocks could determine whether the early gains are sustained.
Market Outlook
The combination of a strong Wall Street technology rally and lower oil prices provides a supportive backdrop for Indian equities