Pre Market Analysis & Global Cues | 24 June, 2026

Yesterday's sharp fall wasn't just an India-specific event. The biggest shock came from South Korea, where the KOSPI crashed more than 11%, triggering trading halts and creating panic across Asian markets. At the same time, technology stocks came under pressure globally after weak commentary from Accenture raised fresh questions about IT spending and growth expectations. That weakness was clearly visible in Indian markets as well. IT stocks saw heavy selling, and the pressure quickly spread to other sectors. There was another concern on the domestic front. India's latest PMI data showed some moderation in business activity. Manufacturing and Services growth remained healthy, but both eased from previous months, indicating that the pace of growth has slowed a bit. After yesterday's selloff, US markets also remained under pressure. Technology stocks continued to drag the market lower, with Nasdaq falling more than 2%, while volatility jumped sharply. This morning, however, global markets are showing signs of stability. South Korea is recovering after yesterday's collapse, and most Asian markets are trading with modest gains. That may provide some relief after the sharp correction we saw yesterday. The good news for India continues to be crude oil. Brent has cooled to around $76, which is a huge improvement from the levels seen during the recent Middle East tensions. Lower crude prices remain one of the biggest positives for the Indian economy and markets. The rupee, however, remains a concern. Even with falling crude, USD/INR is still near 94.7, which is on the weaker side and something worth monitoring. Nifty closed at 23824 yesterday after giving up most of last week's gains. Gift Nifty is indicating a mildly positive start today, but the bigger question is whether buyers are ready to step back in after yesterday's broad-based selling. For today's session, watch how the market behaves near yesterday's low.