Pre Market Report & Global Cues | 22 June, 2026

Global cues are mixed this morning, but the overall setup remains stable. US futures are slightly weak after the recent rally, while Asian markets are showing a mixed picture. Japan, Taiwan and Korea are trading higher, while Hong Kong and China are seeing some pressure. One thing many traders are watching is the Strait of Hormuz. There are reports and market discussions around fresh tensions in the region, but if there was a serious disruption to oil supply, crude oil would likely be reacting much more aggressively. For now, Brent is holding near $79, which suggests the market is not pricing a major supply shock at this stage. For India, that's important. A few weeks ago, crude oil was one of the biggest concerns. Today, oil prices are much lower and that continues to support the market. The rupee has also improved from the recent 95+ levels, but at 94.3 it is still weaker than where it was before the recent volatility. So while things have improved, the concern has not completely disappeared. Nifty closed at 24013 on Friday after some profit booking in IT stocks. Despite the weakness in the index, Midcaps and Smallcaps held up well, which was a positive sign. Gift Nifty is pointing towards a positive start today, with the possibility of Nifty opening around 100 points higher than Friday's close. For today, the focus will be on whether Nifty can move back above the recent highs and whether the broader market continues to participate. The overall structure remains positive, but after the recent rally, traders will also be watching for any signs of profit booking near higher levels.