Sensex, Nifty Set to Open Higher Tracking AI-Led Wall Street Rally

Indian benchmark indices Sensex and Nifty are set to open higher on Tuesday, July 7, with GIFT Nifty futures pointing up 53 points or 0.22% to 24,545 around 8:00 am IST. The cue builds on a record close on Wall Street led by chipmakers, and a fourth straight winning session for domestic equities on Monday. Across the Pacific, the same AI-led tape is reading the other way: Samsung Electronics forecast a 19-fold jump in quarterly operating profit and watched its stock slump 10%, dragging the Kospi down more than 5% and triggering a circuit breaker.

The two markets parsed the same earnings news in opposite directions. Samsung’s forecast confirmed for US investors that AI demand keeps building, lifting the Dow above 53,000 for the first time on Monday. Across the Pacific, the same print was read as a cue to take profit; the KOSPI’s circuit breaker fired for the sixth time this year, even as Indian benchmarks prepared to track the US tape higher.

GIFT Nifty Signals a Higher Open for Sensex and Nifty

GIFT Nifty, the SGX Nifty futures contract that trades in Singapore and tracks the Nifty 50, was at 24,545 at 8:00 am on Tuesday, up 53 points or 0.22%, per the GIFT Nifty pre-market update for July 7.

The cue builds on a fourth straight winning session for domestic equities on Monday, July 6. The Sensex rose 521.16 points, or 0.67%, to close at 78,285.07, and the Nifty advanced 159.50 points, or 0.66%, to 24,430.35. Trading up from the prior close, the GIFT Nifty signal points to another constructive session before the bell rings at 9:15 am IST.

Wall Street’s Chip Stocks Powered the US Close

US stocks ended sharply higher overnight, with technology shares leading after a week of volatility. The Nasdaq Composite climbed 1.12% to 26,121.16, the S&P 500 gained 0.72% to 7,537.43, and the Dow Jones Industrial Average added 0.29% to finish at 53,055.91, according to a Moneycontrol report tracking the overnight close.

The Dow’s close above 53,000 was its first, marking a fresh record for the blue-chip index. Chipmakers did most of the lifting, with Broadcom pacing the advance as investors bought into expectations that AI-related capital spending will hold up through second-quarter earnings.

The chip rebound extended well beyond the megacaps. Investopedia’s coverage of the July 6 close noted that Western Digital, Advanced Micro Devices, and Qualcomm advanced roughly 7%, 6.5%, and 6%, respectively. The Roundhill Memory ETF gained 6.5% following a 9% drop the prior session, and the iShares Semiconductor ETF was almost 3% higher. Six of the Magnificent Seven ended higher, led by Tesla’s nearly 7% gain, marking a reversal from the AI-led selloff that hit Indian markets in late June.

Asian Markets Sold Off Despite Samsung’s Record Profit Forecast

Across the Pacific, the picture inverted. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.73%, Japan’s Nikkei declined 1.08% in mid-session trade, and South Korea’s Kospi fell 4.1% by the morning, per Moneycontrol’s live update.

The trigger was a forecast that, on its face, should have lifted the region. Samsung Electronics, the world’s largest memory chipmaker, said it expects second-quarter operating profit to rise 19-fold from a year earlier, a record. Investors treated the print as a cue to sell.

By the close, the selling had compounded. Japan’s Nikkei ended 2.12% lower at 68,256.96, and South Korea’s KOSPI slumped as much as 8%, triggering circuit breakers for the sixth time this year as Samsung Electronics tanked as much as 10%, according to a report on the Tokyo and Seoul market close. The Topix, which touched a record earlier in the session, ended 0.97% lower at 4,062.26 as investors rotated into financial and other beaten-down value names.

The market looked into the shares of Samsung Electronics 005930.KS, which fell even as the memory chipmaker’s forecast beat the market forecast.

said Kazuaki Shimada, chief strategist at IwaiCosmo Securities, in remarks carried by Reuters.

US investors took the print as confirmation that AI capex demand is holding up. Korean and Japanese traders moved in the opposite direction, booking profits after a strong run in chip stocks. The KOSPI circuit-breaker count now stands at six for the year, with the index down as much as 8% intraday.

Crude Oil Holds Near Pre-Iran-War Levels

Crude oil prices ticked higher but stayed close to where they traded before the Iran conflict, a backdrop that continues to support India’s macro outlook. Brent crude futures gained 0.39% to around $72.3 a barrel, and US West Texas Intermediate rose 0.26% to about $68.8 a barrel.

For India, an oil-importing economy, oil near $68-$69 keeps the current account and inflation picture calmer than the spike that followed the Iran war. That stability has helped domestic equities extend their winning run, similar to Indian markets opening higher after the US-Iran roadmap in late June.

Earlier on Monday, OPEC+ said it would raise output targets by 188,000 barrels a day starting next month, a sign the cartel sees the oil market returning to normal as the US and Iran work on a long-term agreement to reopen the Strait of Hormuz.

Indian Institutional Flows Stay Constructive

Foreign institutional investors (FIIs) stayed net buyers for a second straight session on July 6, with purchases worth Rs 243 crore. Domestic institutional investors (DIIs) kept pace, investing Rs 3,791 crore, according to Moneycontrol’s tally.

Two straight sessions of FII buying is a quiet but real signal. DII flows have been the heavier weight on the demand side, and FIIs rejoining the buy side narrows the gap between the two cohorts that drive Indian equity demand.

Rupee pressure remains the one domestic note of caution that Ponmudi flagged, with the currency staying under pressure even as risk appetite improved, a reminder that the bullish backdrop for equities and the bearish backdrop for the rupee can coexist.

• FIIs (July 6): Net buyers, Rs 243 crore; second straight session of net buying
• DIIs (July 6): Net buyers, Rs 3,791 crore
• GIFT Nifty (July 7, 8:00 am): 24,545, up 53 points (0.22%)
• Sensex close (July 6): 78,285.07, up 521.16 points (0.67%)
• Nifty close (July 6): 24,430.35, up 159.50 points (0.66%)

Where the Nifty Could Find Resistance

Ponmudi R, CEO of Enrich Money, framed the technical setup in his note on the open. The Nifty has held above 24,400, sustaining its positive technical structure. The immediate resistance sits in the 24,450-24,500 zone, and a sustained move above this range could open the way towards 24,600.

On the downside, 24,200 remains the first key support, followed by 24,000. With the cash Nifty closing at 24,430.35 on Monday, the index sits between those two floors and inside the resistance band, leaving Tuesday’s session to decide which level breaks first.

Easing geopolitical tensions and softer-than-expected US labour market data have improved risk appetite, Ponmudi added, and continued DII buying has strengthened the market’s underlying tone. Crude consolidating in the $68-$69 per barrel range, he said, continues to support India’s macroeconomic outlook.

Asia’s close and a clearer US futures tape in the second half of the day will shape whether the gap-up holds. With Nasdaq 100 futures already down 0.7% and S&P 500 futures little changed in early Asian trade, the premarket is signalling caution even as GIFT Nifty points to a higher open.

Frequently Asked Questions

What is GIFT Nifty and why does it matter?

GIFT Nifty is the Singapore-listed futures contract that tracks the Nifty 50. Its price each morning gives traders a directional read on the Indian cash market open. At 8:00 am IST on July 7, it pointed higher by 53 points or 0.22%, sitting at 24,545.

Why are Sensex and Nifty set to open higher on July 7?

Indian benchmarks are tracking a record close on Wall Street led by chipmakers, where the Dow closed above 53,000 for the first time, the Nasdaq gained 1.12%, and the S&P 500 added 0.72%. The US AI-led rally is the main catalyst, even as Asian markets sold off on a Samsung-led chip rout.

Why did Samsung’s stock fall despite a record profit forecast?

Samsung Electronics forecast a 19-fold jump in second-quarter operating profit from a year earlier, which would be a record. Investors treated the print as a cue to book gains after a strong run in memory chips, sending the stock down as much as 10% and dragging South Korea’s KOSPI down as much as 8%, triggering circuit breakers for the sixth time in 2026.

What are the key resistance and support levels for the Nifty?

Ponmudi R, CEO of Enrich Money, placed immediate resistance at 24,450-24,500, with a sustained break opening a path toward 24,600. On the downside, 24,200 is the first support and 24,000 is the next floor, according to his note.

How are FII and DII flows shaping the Indian market?

FIIs were net buyers for a second consecutive session on July 6 with purchases of Rs 243 crore, while DIIs invested Rs 3,791 crore. Combined buying from both cohorts has helped domestic equities extend a four-session winning streak.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Indian and global equity markets carry risk, and prices can move against positions at any time. Readers should consult a SEBI-registered investment advisor before making financial decisions. Figures cited are accurate as of publication on July 7, 2026.