Pre Market Report & Global Cues | 18 June, 2026

US markets finally saw some selling after a strong run in the last few sessions. This looks more like profit booking and consolidation rather than a major negative development. Bond yields actually moved lower and crude oil continued to fall, so there wasn't any big macro shock behind the decline. Asian markets are giving mixed signals this morning. Japan, Taiwan and Korea are holding up well, while Hong Kong and Indonesia are trading lower. For India, crude oil continues to be the biggest positive. Brent is now close to $78, which is a massive drop from the levels seen during the recent Middle East tensions. Lower crude oil prices are helping reduce pressure on inflation and imports, which is favourable for the Indian economy. The rupee showed some strength yesterday but couldn't hold all the gains. USD/INR is still around 94.5. Better than where it was a few weeks ago, but still on the weaker side. Nifty closed above 24,000 yesterday for the first time in several sessions. After three straight days of gains, some consolidation would be perfectly normal. Gift Nifty is indicating a flat start, which suggests traders may take some time to digest the recent rally instead of immediately pushing the market higher. For today, the important thing is whether Nifty can sustain above the 24,000 zone. After the strong recovery from recent lows, holding these levels is more important than chasing another sharp upmove.