Pre Market Analysis & Global cues - 08 May, 2026

Global markets turned weak overnight after yesterday’s strong rally slowed down in the US. Asian markets are also mostly trading lower this morning, and Gift Nifty is showing a weak opening near 24,265. Big concern right now is crude oil. Brent crude moved back above $101 after fresh US-Iran tensions increased worries around the Strait of Hormuz and oil supply. Even though US bond yields are cooling, rising crude prices are keeping markets slightly cautious. For Indian markets, the important zone is 24,200–24,250. If Nifty holds above that, market can stay stable. But if crude keeps moving higher and global markets stay weak, some profit booking can happen, especially in rate-sensitive sectors.