Pre-Market 24 July 2026: Nifty Ends Below 23,900 As Crude Jumps; Key Levels To Watch

Dalal Street remained under pressure on Thursday as benchmark indices closed lower for the fourth consecutive session. Oil prices also moved closer to the $100-a-barrel mark, while GIFT Nifty traded well below Thursday's closing level, pointing to another cautious start for Friday.

What Pulled Markets Lower On Thursday?

The BSE Sensex declined 363.66 points (0.47%) to settle at 76,391.39 after falling as much as 603.07 points during the session. The Nifty 50 lost 126.65 points (0.53%) to finish at 23,869.60.

Brent crude surged 4.52% to $98.32 a barrel, adding to concerns over inflation and higher input costs as tensions in West Asia intensified.

Among Sensex stocks, Adani Ports, Bajaj Finance, InterGlobe Aviation, Axis Bank, State Bank of India and Tata Steel were top losers in yesterday's trade. On the other hand, Mahindra & Mahindra, Tata Consultancy Services, Eternal and Bajaj Finserv were top gainers.

Global Market Cues

Wall Street came under pressure on Thursday as investors assessed the first set of earnings from major technology companies. Concerns over AI-related spending also weighed on sentiment.

The Dow Jones Industrial Average fell 506.93 points to 51,711.65. The S&P 500 lost 90.66 points to 7,408.30, while the Nasdaq Composite declined 553.21 points to 25,137.69.

Elsewhere, market performance remained mixed. Japan's Nikkei 225 gained 307 points (0.46%) to close at 66,422.60. Hong Kong's Hang Seng rose 318.15 points (1.28%) to 25,210.81.

European markets, however, finished lower. The FTSE 100 fell to 10,639.17, while France's CAC 40 declined to 8,299.09.

GIFT Nifty Signals Weak Opening

On 24 July at 7:37 am, GIFT Nifty was trading at 23,685.00, down 177.50 points (0.74%).

The indicator is below the Nifty 50 closing level of 23,869.60 on Thursday, suggesting a weak opening for Friday unless global sentiment improves before Indian markets begin trading.

Nifty Technical View: Levels To Track

• Support: 23,650-23,600
• Resistance: 24,000-24,100

Nifty is now trading below the 23,800 support zone. If the index stays below this level, the next downside area lies around 23,650-23,600. A break below that could expose the June low near 23,070.

On the upside, any recovery may face resistance in the 24,000-24,100 range.

Key Factors Before Friday's Opening Bell

Corporate earnings will continue to drive stock-specific action as more companies announce their June-quarter results.

Global markets are also reacting to fresh developments in the Middle East and the sharp rise in crude oil prices. Brent is now approaching the $100-a-barrel mark, making oil one of the key variables for investors.

Attention will also remain on overseas markets after Thursday's decline on Wall Street, where technology shares came under pressure following the latest earnings announcements.

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