Pre-Market 16 July 2026: Nifty Holds Above 24,000; GIFT Nifty Signals Higher Start; What's Next?

Dalal Street heads into Thursday's session after benchmark indices closed higher for a second straight day. Buying in banking, auto and cement stocks helped the market overcome weakness in metals and IT, while the Nifty continued to hold above the 24,000 mark.

The Sensex rose 130 points to close at 77,185, while the Nifty 50 gained 26 points to settle at 24,079 on Wednesday.

What Supported The Market On Wednesday?

Buying was concentrated in banks, automobiles and cement shares.

The Nifty Bank index gained 0.5% to 57,758, while the Nifty Midcap 100 index climbed 177 points to 62,943, outperforming the benchmark indices.

Cement stocks attracted fresh buying after companies reported strong June-quarter business updates. UltraTech Cement ended nearly 3% higher.

Metal stocks and IT stocks remained under pressure through the session. Hindalco finished as the biggest loser in the Nifty pack.

Market breadth remained positive, with advancing stocks outnumbering declines.

How Did Global Markets Perform After Indian Market Hours?

Wall Street opened higher on Wednesday after fresh US inflation data strengthened expectations that the Federal Reserve may take a softer approach on interest rates. Investors also tracked quarterly earnings from major companies.

On 15 July:

• Dow Jones Industrial Average gained 150.37 points to 52,658.64

• S&P 500 rose 23.81 points to 7,572.40

• Nasdaq Composite advanced 162.22 points to 26,269.23

Geopolitical developments remained in focus after the United States launched a fresh round of strikes on Iran following the reimposition of a naval blockade.

Asian markets also closed higher.

• Nikkei 225 rose 1,008.01 points to 68,751.51

• Hang Seng gained 340.37 points to 24,681.10

• Singapore's Straits Times advanced 64.11 points to 5,559.72

European markets traded mixed.

• FTSE 100 fell 13.47 points to 10,515.92

• As of 20:10 IST: CAC 40 gained 15.48 points to close at 8,382.43

GIFT Nifty

As of 20:14 IST on 15 July, GIFT Nifty today was trading at 24,117.00, up 75 points, or 0.31%.

The futures contract was trading above Wednesday's Nifty close of 24,079, indicating a positive start for Thursday's session.

Nifty Outlook Today: Key Levels To Watch

Support Levels

• 24,000

• 23,800

The 24,000 zone remains the immediate support. If the index falls below this level, 23,800 becomes the next important support.

Resistance Level: 24,300

A move above 24,300 could open the door for an advance towards the 24,500-24,600 zone.

What Should Investors Watch Today?

The June-quarter earnings season continues, with more companies scheduled to report their results over the coming days. Stock-specific moves are likely to remain in focus.

Developments in West Asia will also be watched after fresh military action involving the United States and Iran. Any change in the geopolitical situation could influence global markets.

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