Pre Market Update & Global Cues| 30 October 2026

Global markets are giving mixed signals. US indices closed lower as investors sold technology stocks. Alphabet's results raised concerns about the amount being spent on AI and whether future earnings will justify these investments. However, the selling was concentrated in large tech companies, while most S&P 500 stocks ended higher. Asian markets are under greater pressure, with sharp declines in Japan, South Korea and Taiwan. Their exposure to semiconductor and AI companies is adding to the impact of the global tech sell-off. European markets closed higher after the ECB kept interest rates unchanged. For India, crude oil and the rupee remain concerns. Brent is trading near $113 per barrel, while the rupee is around ₹95.25 against the dollar. Both are adding pressure to import costs and company expenses. Lower US and Indian bond yields are providing some relief. GIFT Nifty indicates a flat to slightly positive opening, despite weakness across major Asian markets. Indian IT stocks could face pressure due to global technology weakness, but the impact need not be the same across all sectors. Market View: Neutral to Cautious The opening indication is slightly positive, but global cues remain weak. Keep an eye on sector-wise movements rather than expecting the entire market to move in one direction. High crude prices and rupee weakness remain concerns, while easing bond yields offer some support.