Pre Market Report & Global Cues | 24 September, 2026

Global cues have turned weak again, and this time the pressure is coming clearly from data + yields together. US markets corrected sharply. S&P down 0.75%, Nasdaq 1.13%, Dow 0.68%. The trigger was a strong PMI at 58.4, which shows the US economy is still running hot. Normally that sounds positive, but right now it’s a problem because it keeps inflation pressure alive. That’s why the bigger reaction came in bonds. US 10Y yield has jumped to 5.13%, now at levels not seen since 2007. At the same time, Dollar Index has moved up to 101.19. This combination is very critical, higher yields + stronger dollar pulls money away from equities globally and puts pressure on emerging markets like India. Crude, however, is showing a different move. After recent spikes above $100, Brent has corrected to around $97.8. This gives some short-term relief, but the situation is still unstable because of ongoing US–Iran tensions. Asian markets are not giving confidence, mostly flat to negative. Despite that, Gift Nifty is indicating a 150–200 point gap down, which clearly shows weak sentiment at the opening. On the domestic side, yields remain elevated. India 10Y at 7.03% and 30Y at 7.57%, even though there is no sharp spike yesterday, they are still at high levels. Currency continues to be a concern. USD/INR at 95.74 remains weak, and with global money moving towards the dollar, pressure continues. For today’s session: The setup is clearly on the weaker side. This is not just about one factor. US yields above 5%, strong dollar, and still-elevated crude together create a heavy environment. The gap-down opening is expected, but the real focus will be whether the market stabilises after the open. If Nifty fails to hold early levels, downside can extend quickly. If it stabilises, expect selective buying, not broad strength. Overall, this is a sell-on-rise type environment unless global cues cool off.