Pre Market Analysis & Global Cues | 01 July, 2026

Global markets are giving better cues this morning. US markets closed higher, with technology stocks once again leading the gains. Nasdaq outperformed, while the broader market also ended in green. Asian markets are mostly positive as well. Taiwan, Japan, China and Indonesia are trading higher, although South Korea is seeing some pressure after its recent sharp moves. Gift Nifty is indicating a positive start of around 100 points, which could help Nifty reclaim part of yesterday's losses. The rupee, however, remains something to watch. USD/INR weakened again yesterday and is trading around 94.7. It has been hovering at these levels for some time now, and a stronger recovery in the rupee is still missing. Another positive for the market is the continued decline in India's 10-year bond yield. Lower yields generally support sectors like banks, real estate and other interest rate-sensitive businesses. Today's key domestic event is the Manufacturing PMI data. The previous reading was 55.0. If the number comes in above expectations, it would indicate that manufacturing activity remains strong. A weaker reading could keep the market a little cautious during the session. For today, the setup is better than yesterday. Global markets are supportive and Gift Nifty points to a positive opening. The important thing is whether Nifty can move back above 24,000 and hold those levels through the session instead of giving up gains after the opening.