Pre-Market Report & Global Cues | 19 October

Indian markets face mixed global cues this Monday. US futures are positive, with Nasdaq futures up nearly 1%, but Asian markets are mostly lower. GIFT Nifty points to a flat opening, while crude near $108 remains a concern. Bond yields have eased: US 10-year yields fell to 5.06% from 5.36% eight days ago. Indian 5-year and 10-year yields closed at 7.17% and 7.36%, respectively. This offers some relief to equities, but crude and the rupee at ₹94.96 per dollar remain key concerns. Banking in focus: Axis Bank reported 38% YoY profit growth to ₹7,003 crore. HDFC Bank and ICICI Bank may see action as investors assess their weekend results. Stock-specific updates: • Prestige Estates: Sales bookings of ₹7,225 crore, up 20% YoY. • DLF: Net profit of ₹1,301 crore. • Central Bank of India: Profit growth of 21%. • RailTel: Orders worth ₹167.52 crore and ₹18.99 crore. • Zen Technologies: Approved ₹135.15 crore investment for a 51.98% stake in Cogknit Semantics. • Vedanta: Gamsberg expansion aims to double zinc capacity to 500,000 tonnes. • Oil India: Signed a revenue-sharing contract for a coal-bed methane block. Earnings to track: LTIMindtree missed Q2 profit estimates, while its North American AI managed services contract is a positive business development. Bajaj Finance, UltraTech Cement, Hindustan Zinc and IREDA are scheduled to report today. Market view: Positive US futures and easing bond yields offer support, but weak Asian markets and high crude could limit gains. Watch Nifty’s opening response and whether banks attract sustained buying. If participation broadens beyond a few heavyweight stocks, recovery could improve; otherwise, expect a stock-specific session.