Pre-Market 19 May 2026: What To Expect After Nifty Holds Above 23,500 Despite Weak Broader Markets; GIFT Nifty Indicates A Gap-Up Opening

Markets head into Tuesday after the benchmark indices staged a late recovery in the previous session despite persistent weakness in broader markets. The Sensex ended 77.05 points higher at 75,315.04, while the Nifty 50 settled at 23,649.95, up 6.45 points on 18 May 2026.

What Happened In Monday’s Session?

Indian equities witnessed a highly volatile session on Monday before recovering sharply in the second half.

The Sensex was down more than 1,000 points during the day before rebounding over 1,100 points from the lows to close in positive territory. The Nifty 50 also recovered strongly after touching an intraday low of 23,317. Buying in select banking and IT heavyweights helped the benchmark indices erase most of the losses by the close.

The rebound was largely limited to heavyweight stocks. Midcap and smallcap shares continued to see selling pressure through the session. The BSE 150 Midcap Index slipped 0.43%, while the BSE 250 Smallcap Index dropped 1.71%.

Traders also remained cautious amid the ongoing deadlock between the US and Iran. Brent crude stayed above $110 per barrel, while the rupee ended at a record low of 96.33 against the US dollar.

Global Cues After Market Hours

On Wall Street, benchmark indices moved in a narrow range as investors tracked US bond yields and developments around the Iran situation.

The 10-year US Treasury yield eased after touching its highest level since February earlier in the session. Lower yields offered some support to growth and technology stocks. Brent crude prices fell nearly 2% in US trade after reports of a possible temporary waiver on Iranian sanctions eased supply concerns.

On 18 May 2026, the Dow Jones Industrial Average gained 159.95 points or 0.32% to 49,686.12. However, the S&P 500 fell 5.45 points or 0.07% to 7,403.05, while the Nasdaq Composite slipped 134.41 points or 0.51% to 26,090.73.

European markets ended higher. The FTSE 100 Index advanced 128.38 points or 1.26% to 10,323.75, while France’s CAC 40 Index gained 34.94 points or 0.44% to 7,987.49.

In Asian markets, Japan’s Nikkei 225 Index fell 593.34 points or 0.97% to 60,815.95, while Hong Kong’s Hang Seng Index declined 287.55 points or 1.11% to 25,675.18.

GIFT Nifty Update

GIFT Nifty traded at 23,677.00, up 59.50 points or 0.25% as of 18 May 2026, 21:31 IST. The trend pointed to a mildly positive opening for domestic equities despite weak Asian market cues.

Key Levels To Watch

Nifty continues to trade near an important support zone after Monday’s volatile session.

• Immediate support is placed near 23,500

• The broader support area remains in the 23,350–23,250 zone

• Analysts expect buying interest to emerge around these levels

• On the upside, the 23,700–23,800 range remains a key resistance zone

• A sustained move above this band could help the index move back towards 24,000

Also Read - Post-Market, 18 May 2026

What Should Investors Expect Today?

Markets may remain range-bound on Tuesday as investors assess global developments, bond yields and currency movement. However, a positive GIFT Nifty trend suggests domestic markets could open with a slight upward bias.

Investors are also likely to track movements in the rupee, global yields and institutional activity through the session.

Sources:

CNBC TV18

Mint

Reuters