Pre-Market 12 October 2026: GIFT Nifty Hints At A Mildly Positive Opening As Traders Track Oil Prices And CPI Data

Indian equities are set for Monday’s session after Friday’s rebound. Easier crude oil prices and a rally in IT stocks helped the recovery, though foreign fund outflows and high global bond yields remain concerns. Investors will track US-Iran developments and India’s upcoming inflation data during Monday’s session.

Indian Markets Recap

Indian equities staged a strong recovery on Friday, 9 October, after the previous session’s steep sell-off. The Sensex gained 879.09 points, or 1.23%, to close at 72,472.33, while the Nifty 50 rose 288.65 points, or 1.30%, to 22,520.45. The rally ended an eight-week losing streak for the benchmark indices.

IT shares led the recovery, supported by optimism around the September-quarter earnings season and demand linked to artificial intelligence. Buying in other sectors and easing crude oil prices also helped lift sentiment.

Global Markets Update

Wall Street finished the week higher, with technology shares helping lift the major indices. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95. The S&P 500 added 0.59% to 7,811.54, while the Nasdaq Composite gained 0.64% to 27,366.17. The 10-year US Treasury yield, however, rose to around 5.24%.

Oil’s pullback helped European shares recover on Friday. The FTSE 100 rose 1.06% to 10,552.05, France’s CAC 40 gained 0.95% to 7,803.33, and Germany’s DAX advanced 1.13% to 25,087.27.

Asian markets were mixed on Friday. Japan’s Nikkei 225 stood at 69,030.92, down 0.016%. South Korea’s Kospi, which was closed on Friday, ended the week at 6,625.93, down 2.62%.

GIFT Nifty Cues

At 7:46 am on 12 October, GIFT Nifty was trading at 22,622.50, up 20 points, or 0.09%. This indicates a mildly positive opening for Indian equities on Monday.

Nifty 50 Technical View

The Nifty 50 faces immediate resistance at 22,800, near the week’s high. A sustained move above that level could bring 23,000 into view, where the 20-day exponential moving average and the midline of the Bollinger Bands are placed. Until the index moves past the 23,000 zone, trading could remain range-bound.

On the downside, the 22,300–22,200 range is the key support area. A break below it could bring fresh selling, particularly if crude oil rises again or foreign fund outflows continue.

What Are Monday’s Key Triggers?

In US-Iran news, US President Donald Trump said Washington would not attack Iran before the November midterm elections, citing progress in talks. The prospect of renewed fuel exports from China has also weighed on crude prices.

At home, September Consumer Price Index (CPI) inflation data, due on Monday, will be an important domestic trigger. The reading could shape expectations for interest rates after the RBI’s recent policy shift. Since the data is scheduled for release at 4 pm IST, it will come after the regular cash market session and may influence the next day’s trade.

Investors will also look for more quarterly results and management commentary, particularly from IT companies, to see whether Friday’s rally can broaden beyond short-covering and value buying. The rupee and foreign fund flows remain important measures of whether overseas investors are returning to Indian equities.

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