Markets opened on a cautious note on Thursday, August 6, with benchmark indices trading marginally higher after the Reserve Bank of India held its repo rate steady at 5.25 per cent and raised its GDP growth forecast for FY27 to 6.7 per cent.The Sensex, which closed at 78,581.00 on Wednesday, opened at 78,782.43 and was trading at 78,775.00, up 194 points or 0.25 per cent, as of 9.23 AM. The Nifty 50, which ended the previous session at 24,624.65, opened at 24,641.00 and was trading at 24,643.40, up 18.75 points or 0.08 per cent.Among Nifty50 gainers, Titan led with a rise of 1.51 per cent to ₹4,986.70, followed by Reliance Industries at ₹1,299.20, up 1.50 per cent. Jio Financial Services gained 1.18 per cent to ₹265.05, while Tech Mahindra added 1.15 per cent to ₹1,669.00. Eternal rose 1.13 per cent to ₹313.85.On the losing side, Power Grid was the top decliner, falling 2.41 per cent to ₹274.95. Trent dropped 1.04 per cent to ₹3,096.50, NTPC slipped 0.93 per cent to ₹346.65, and Bharti Airtel declined 0.92 per cent to ₹1,959.80. Mahindra & Mahindra fell 0.81 per cent to ₹3,427.40.The RBI's decision to hold rates was widely anticipated. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the policy carried a clear signal: ..."rate hike is some time away, and therefore, interest elastic sectors are unlikely to be influenced by interest rates in the near-term."... He added that financials, particularly NBFCs, and automobiles are performing well on the back of strong demand fundamentals, with Q1 results reflecting sustained growth momentum.The Indian rupee strengthened 13 paise to close provisionally at 95.15 against the US dollar on Wednesday, its strongest level since early July, aided by a weaker greenback and Brent crude slipping below $80 per barrel. Forex reserves hit a three-month high, and sugar prices touched record levels, adding complexity to the inflation picture even as the RBI lowered its inflation outlook.Pharmaceuticals and telecom sectors reported strong Q1 results, with analysts pointing to better prospects ahead. The broader earnings season continues to dominate stock-specific action across sectors.Global sentiment remained mixed overnight. Wall Street delivered a split verdict, the Dow Jones rose 0.5 per cent to a record close, while the S&P 500 slipped 0.2 per cent and the Nasdaq fell 0.8 per cent on a late-session selloff in technology stocks. Nvidia gained over 3 per cent after SpaceX announced it would exclusively use Nvidia processors for AI infrastructure. However, AMD dropped nearly 7 per cent despite reporting record quarterly revenue of $11.54 billion, up 50 per cent year-on-year, as Elon Musk's comments overshadowed the results. SpaceX itself fell roughly 13.6 per cent in its first earnings report as a public company on capital expenditure concerns.ADP data showed US private payrolls added just 44,000 jobs in July, well below the 69,000 expected and down sharply from June's 95,000, sharpening market focus on Friday's official nonfarm payrolls report.Asian markets were trading lower, with Japan's Nikkei falling about 1.5 per cent and South Korea's Kospi declining nearly 4.5 per cent, led by weakness in technology and semiconductor stocks.Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, observed that ..."the macroeconomic narrative has become incrementally more favourable,"... citing the RBI's upgraded growth outlook, a recovery in the rupee, easing energy costs, and a return of foreign institutional flows as factors creating a more supportive backdrop for Indian equities.However, foreign institutional investors turned net sellers on Wednesday, offloading equities worth ₹943 crore. Domestic institutional investors absorbed the pressure, buying equities worth ₹2,883 crore.Technically, Nifty holds above all key moving averages. Shrikant Chouhan, Head of Equity Research at Kotak Securities, placed short-term support at 24,500–24,450 and resistance at 24,700–24,750, adding that ..."a breakout above 24,750 could propel the market towards 24,850–24,900."...Brent crude eased near $80 per barrel after Iran and Oman reached an understanding on shipping routes through the Strait of Hormuz, though a final agreement remains pending. Gold rallied to around $4,300 before easing slightly.Vikram Kasat, Head of Advisory at PL Capital, summed up the near-term mood: ..."participants may continue to focus on the ongoing earnings season for stock-specific moves and may remain biased towards longs till indices hold near-term breakout levels."...Published on August 6, 2026