Pre Market Analysis & Global Cues | 28 July, 2026

Global cues are mixed this morning. The US and Iran have continued their pause in military strikes for the second day. This has helped ease concerns about disruptions to oil supplies. Because of this, Brent crude has fallen sharply to around $84.7 per barrel, after touching nearly $102 just a few days ago. Lower crude prices are good for India as they help reduce pressure on inflation, imports and the rupee. In the US, markets opened with strong gains but lost momentum later in the session. The Dow Jones managed to close slightly higher, while the Nasdaq ended lower as technology stocks saw some profit booking. Asian markets are under pressure today. South Korea has fallen around 10%, while Japan and Taiwan are also trading sharply lower. Even with this weakness, Gift Nifty is indicating only about a 30-point gap-down, which suggests the Indian market may remain relatively stable at the opening. The rupee strengthened by 66 paise yesterday and is now trading near 95.9 against the US dollar. If crude prices stay lower, it could continue to support the currency. There is also some positive news for the IT sector. Infosys ADR gained more than 5%, while Wipro ADR rose over 2% in the US market. The main domestic event today is India's June IIP (Industrial Production) data, which will be released after market hours at 4:00 PM. The data will show how the manufacturing sector performed during the month. Today's View: Crude oil has cooled sharply, the rupee showed some strength and IT stocks are showing positive signals. On the other hand, Asian markets are weak. So while the opening may be slightly cautious, it will be important to see whether Nifty can hold above the 24,000 mark after yesterday's strong recovery. If buyers continue to support the market, the momentum could remain positive through the day.