Pre-Market Setup - 02 March, 2026.

US futures are under pressure following fresh Middle East escalation. Brent has surged over 5%, back above $76, as concerns around Strait of Hormuz resurface. US 10Y holding near 3.97% with the dollar firming — not a panic move, but clearly defensive positioning. Asian markets are trading weak and Gift Nifty indicates a negative open. For India, crude is the key variable today. Oil-sensitive sectors could remain under pressure, while INR movement may influence IT and exporters. Expect volatility to stay elevated. Structure likely to be driven more by oil than by overnight index moves. Bias: Cautious start.