PRE MARKET--> AI STOCK CRASH / CAS / NIFTY & BANKNIFTY
PRE-MARKET REPORT | 16 OCTOBER 2026
Crude Near $105, Global AI Sell-Off, Metals Under Pressure; SEBI CAS Relief in Focus
Market View: Cautiously Positive Opening | High Volatility | Stock-Specific Opportunities
Indian markets are heading into Friday’s session with mixed global signals. GIFT Nifty indicates a positive opening after Thursday’s strong rally, but elevated crude oil prices and persistent FII selling remain key risks.
--->GLOBAL CUES: AI SELL-OFF, BUT MARKETS SHOW SIGNS OF STABILISATION
GIFT Nifty: Around 23,100 in early trade, indicating a potentially positive start.
US markets: The Dow Jones and S&P 500 recovered on Thursday, while the Nasdaq remained relatively weak amid technology-sector concerns.
Asian markets: Technology and semiconductor stocks faced sharp selling earlier in the week, although markets showed signs of recovery on Friday morning.
-->BANK NIFTY: 56,550 IS THE KEY SUPPORT
Important support: 56,550
--->Indian IT services companies have a different business model from chipmakers and AI infrastructure companies. This creates the possibility of relative sector rotation, although it does not guarantee that IT stocks will rise.
Stocks to watch
TCS
Infosys
HCLTech