Indian Markets Set for Cautious Start Amid Global Selloff and Gold Slide

The Indian markets are set to open on a cautious note following a global selloff and slide in gold prices. The US markets closed lower overnight, with the NASDAQ Composite falling 1.03% and the Dow Jones Industrial Average dropping 0.79%. Asian indices also saw significant declines, led by the Nikkei 225 which plummeted 2.78%.

The GIFT Nifty is trading at 24028.50, down 0.10%, indicating a flat to slightly negative opening. The net buying activity by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) on September 1 may provide underlying support to domestic indices despite the gloomy global cues.

Commodity markets showed mixed performance, with Crude Oil prices rising 0.71% to $90.86, while Gold Futures dropped 1.12% to $4347.30. The simultaneous drop in gold prices and rise in crude oil may signal a shift in investor strategy away from safe-havens toward energy sectors.

Several companies have corporate actions scheduled for today, including dividends and annual general meetings (AGMs). Traders are likely to approach the session with caution, focusing on defensive plays amid broader global uncertainty.