Pre-Market Report: Flat-To-Mild Positive Opening Expected as GIFT Nifty Rebounds — September 25, 2026

Global Market Cues

Wall Street closed mixed overnight as investors digested persistent geopolitical uncertainty in the Middle East and hawkish commentary from Federal Reserve officials. The Dow Jones Industrial Average fell 0.31% to 51,349.98, the S&P 500 closed virtually unchanged (-0.02%) at 7,704.13, while the tech-heavy Nasdaq Composite edged up 0.01% to finish at 26,939.37.

Global market participants are contending with several macro crosscurrents:

• Surging Oil Prices: Brent crude surged over 3% to trade near $107 per barrel following renewed geopolitical friction, supply disruption concerns in the Persian Gulf, and missile strikes in the region.
• Bond Yields & Interest Rate Fears: US Treasury yields remained near multi-year highs as robust economic data and Federal Reserve comments fueled expectations of prolonged elevated interest rates and potential further tightening before year-end.
• Mixed Asian Markets: Early Asian peers showed subdued trading sentiment, tracking overnight cues from the US and keeping a close watch on high energy prices and the US-China bilateral dialogue.

GIFT Nifty and Domestic Cues

Early trends on the GIFT Nifty indicate a mildly positive start for Dalal Street, recovering slightly after Thursday’s heavy decline. GIFT Nifty was trading around 23,149, up approximately 40 to 50 points from the previous close, pointing to a modest gap-up or steady opening.

In Thursday’s session, Indian indices experienced broad-based selling, with the Nifty 50 dropping 383.70 points (1.64%) to 23,063.10 and the BSE Sensex tumbling 1,247.71 points (1.67%) to end at 73,580.54.

• Technical Levels: Immediate psychological support for the Nifty 50 is placed at 23,000, followed by 22,900. On the upside, immediate resistance is positioned at 23,200, with a major hurdle zone near 23,400–23,500.
• FII Outflows & Rupee: Foreign institutional investors (FIIs) have maintained a cautious selling stance, keeping pressure on domestic liquidity. The Indian rupee remains under watch amid rising import costs driven by surging Brent crude.

Key Stocks in Focus

A combination of crude price action, technical setups, and corporate disclosures puts several stocks in the spotlight today:

• ONGC & GAIL: Upstream oil producers and gas utilities remain in focus as Brent crude prices trade near multi-month highs of $107/barrel, supporting realization prospects.
• Divi's Laboratories & Cipla: The pharmaceutical space continues to display relative strength and defensive buying interest amid broader market volatility, with Divi's hovering near 52-week highs.
• Vedanta & Sterlite Technologies: Both counters are under the radar following recent corporate project updates, fundraising considerations, and business restructuring moves.
• FSN E-Commerce Ventures (Nykaa): In focus after announcements regarding strategic initiatives and updates on retail expansion.
• Rate-Sensitive Counters (Banks & NBFCs): Counters such as Mahindra Finance and private banking names may face valuation scrutiny due to hardening bond yields globally and elevated domestic liquidity constraints.

Key Events to Watch Today

Market participants should track the following triggers during the session:

• Middle East Developments & Crude Oil Trajectory: Any headlines regarding maritime routes in the Strait of Hormuz or ceasefire discussions will directly dictate intraday sentiment on oil marketing companies and broader equity indices.
• Foreign Institutional Activity: End-of-day FII and DII cash market flow figures will be critical to gauge whether domestic institutions can counter foreign outflows.
• Currency & Yield Movements: Moves in the USD/INR currency pair and the 10-year US Treasury yield ahead of key global macroeconomic data prints.

Tags: Pre-Market Stock Market Nifty Sensex Market Update