Pre Market Analysis & Global Cues | 21 May, 2026

Global markets turned positive overnight after crude oil prices cooled and bond yields came down a bit. US markets closed strongly in green, especially tech stocks, and Asian markets are also seeing good buying this morning. Korea and Japan are leading the rally after weeks of weak sentiment because of Middle East tensions. The biggest relief for markets right now is crude oil. Brent crude cooled near the $105 zone after talks around a possible US-Iran progress improved hopes that oil supply issues may not worsen further. Because of that, global markets are getting some relief from inflation worries. US bond yields also cooled after recent sharp rise, which helped technology stocks bounce strongly overnight. For India, one issue is still there which is rupee weakness. USD/INR is still near record weak levels around 96.8 against the dollar. So even though global markets are improving, rupee pressure may still limit aggressive upside if FIIs continue staying cautious. Gift Nifty is showing a strong opening above yesterday’s close. If global strength continues during the day, broader market participation may also improve along with index heavyweights.