Pre Market Analysis & Global Cues | 19 June, 2026

Global cues are mixed this morning. US markets closed higher, with technology stocks leading the gains. But for India, the bigger story is what happened after the market closed. Infosys ADR fell nearly 10% and Wipro ADR dropped more than 3% in the US market. The trigger was Accenture's commentary, which raised fresh concerns about IT spending and the impact of AI on traditional outsourcing businesses. Since Indian IT companies earn a large share of their revenue from the US, this could put pressure on the IT sector today. That is probably the reason Gift Nifty is indicating a gap-down opening despite positive US markets. The good news is that crude oil remains under control near $80. Compared to the worries we had a few weeks ago, this is still a positive for India. The rupee has also recovered from recent lows, but at 94.3 it remains weaker than normal and is still something worth watching. Nifty closed above 24,000 yesterday after a steady move higher over the last few sessions. After such a rally, some profit booking would not be surprising, especially if IT stocks come under pressure. For today, the focus will be on two things: • How much impact Infosys and Wipro ADR weakness has on the IT sector • Whether Nifty can hold above the 24,000 mark despite the expected gap-down opening The broader trend is still positive, but today's session may be more about protecting recent gains than chasing fresh highs.