Pre Market Report & Global Cues | 16 October, 2026

Global cues are positive this morning, but there is one major concern that Indian markets cannot ignore - US bond yields are rising even as US equities move higher. US markets closed in the green, with the S&P 500 up 1.08% and the Nasdaq gaining 0.33%. European markets also closed higher, while Asian markets are trading broadly positive. Gift Nifty is indicating a flat-to-positive opening for Nifty. However, the bigger concern is the bond market. The US 10-year yield is at 5.10%, while Brent crude remains elevated at $105.5. High borrowing costs and expensive crude can keep pressure on equity valuations, corporate costs and India's import bill. There is some relief on the domestic side. India's 10-year yield is at 7.39%, with yields across the 5-year and 30-year maturities also easing. The rupee is at 95.05 against the dollar. These moves offer some support, but they do not remove the pressure from elevated crude prices. Nifty closed yesterday at 22,997, up 1.66%. After that strong move, today's key question is whether buyers can sustain the gains or whether selling emerges at higher levels. A positive opening alone will not confirm a stronger trend. Stocks to watch today: Tech Mahindra: Q2 results beat expectations, and the company approved a 1:1 bonus issue. The market will also assess the sustainability of its earnings growth. IIFL Finance: Q2 net profit jumped 93% YoY to ₹766 crore, supported by growth in its gold loan and microfinance businesses. Angel One: Net profit rose 58% YoY, keeping the stock in focus after strong quarterly performance. Sterling & Wilson Renewable Energy: Returned to profitability, with its order backlog growing 34% YoY. Today's view: Global equities and Asian markets are offering support, but crude above $100 and the US 10-year yield above 5% remain key concerns. With Nifty already up sharply in the previous session, watch whether buying continues beyond the opening. Sustaining the gains matters more than the gap at the open.