Pre-Market 17 July 2026: Sensex Ends Flat; Q1 Earnings, Crude Oil And GIFT Nifty In Focus

Dalal Street closed Thursday with barely any change in the benchmarks, reflecting a cautious mood across the market. Rising tensions in West Asia limited fresh buying, although GIFT Nifty later pointed to a marginally positive opening for Friday's trade.

The Sensex settled at 77,186.87, up just one point, while the Nifty 50 edged down six points to 24,072.75, holding above the 24,000 level for the second straight session.

What Drove Thursday's Trade?

Global uncertainty remained the dominant theme. Escalating tensions between the US and Iran kept traders on the sidelines for much of the session.

The Nifty Midcap 100 fell 0.41%, while the Nifty Smallcap 100 declined 0.10%.

Brent crude eased slightly during the day but continued to trade close to $85 per barrel, keeping inflation concerns alive.

Meanwhile, the rupee weakened further. Provisional data showed the domestic currency lost 11 paise to settle at 96.36 against the US dollar.

Reports during the session indicated that the United States and Israel discussed further military action against Iran. US President Donald Trump also warned of expanding strikes unless Tehran returned to negotiations. The developments kept global markets on edge.

How Did Global Markets Perform After Indian Market Hours?

Wall Street traded lower on Thursday as weakness in semiconductor stocks offset optimism around the early phase of the June-quarter earnings season.

On 16 July:

• Dow Jones Industrial Average gained 105.67 points to 52,552.97
• S&P 500 fell 38.63 points to 7,533.77
• Nasdaq Composite declined 387.28 points to 25,881.95

Asian markets delivered a mixed performance.

• Nikkei 225 dropped 1,915.97 points to 66,835.54
• Hang Seng gained 327.50 points to 25,008.60
• Singapore's Straits Times slipped 20.34 points to 5,539.38

European markets traded mixed.

• FTSE 100 rose 56.32 points to 10,572.24
• CAC 40 declined 4.57 points to 8,377.86

GIFT Nifty Outlook

As of 20:26 IST on 16 July, GIFT Nifty today was trading at 24,120.00, up 25 points, or 0.10%. The futures contract remained above Thursday's Nifty close of 24,072.75, indicating a firm start for Friday's session.

Nifty Outlook Today: Key Levels To Watch

Support Level: 24,000

The 24,000 mark remains the first line of support. If the index slips below it, the next downside levels are seen around 23,800-23,750.

Resistance Level: 24,200

A sustained move above 24,200 could pave the way for an advance towards the 24,300-24,350 zone.

What Should Investors Watch Today?

The June-quarter earnings season is beginning to pick up, making company results and management commentary the biggest stock-specific triggers in the coming sessions.

At the same time, developments in West Asia remain difficult to ignore. Traders will be watching whether fresh headlines push crude oil prices higher, as sustained strength in oil could complicate the inflation outlook.

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