Pre-Market 26 October 2026: GIFT Nifty Hints At Weak Start Amid Global Pressure; Fed Policy And Q2 Earnings In Focus

Indian markets are set to begin the final week of October under pressure as Middle East tensions push oil prices higher and global technology stocks come under pressure.

Indian Markets Recap

The Sensex closed Friday at 73,123.83, down 125.56 points, while the Nifty 50 settled at 22,600, lower by 87.65 points. Both indices fell more than 2% over the week.

The Nifty Midcap 100 and Nifty Smallcap 100 declined more than 2%, as investors cut exposure to riskier stocks. The rise in India VIX, which measures expected market volatility, also points to continued uncertainty.

Brent crude climbed above $116 a barrel on Friday, its highest level since June 2022, as concerns grew over further attacks on energy infrastructure and shipping.

Global Markets

On Wall Street, the Dow Jones Industrial Average fell 1.23% to 52,215.16 on Friday. The S&P 500 lost 0.52% to close at 7,623.68, while the Nasdaq Composite slipped 0.21% to 25,955.34. Concerns over spending on artificial intelligence, alongside weakness in telecom stocks and rising oil prices, shaped trading.

European shares also ended lower on Friday. The UK’s FTSE 100 fell 0.3% to 10,690.36, while France’s CAC 40 lost 0.3% to close at 7,782.82. Higher energy prices and political uncertainty in France weighed on sentiment despite some encouraging corporate earnings.

Asian markets delivered a mixed picture on Friday. Japan’s Nikkei 225 declined 0.34% to 62,693.16, while South Korea’s KOSPI gained 0.30% to 5,550.30.

GIFT Nifty Cues

At 8:21 am on 26 October, GIFT Nifty was trading at 22,605.50, down 2.50 points, or 0.01%, suggesting a potentially weak start for Indian equities on Monday.

Nifty 50 Technical View

The Nifty 50 could extend its decline towards 22,400–22,350, a zone that coincides with the 200-week exponential moving average (EMA). The next level to watch is 22,180, the month’s low. A decisive break below that level could intensify selling pressure during the monthly futures and options expiry week.

On the upside, the 22,800–22,850 zone, which coincides with the 20-day EMA, is likely to act as immediate resistance. The broader resistance level is at 23,200.

Key Triggers To Watch On Monday

The Q2 results calendar will provide company-specific cues as investors assess revenue growth, margins and management commentary. Monday’s results include Tata Consumer Products, Paytm, Mankind Pharma, ITC Hotels, REC, Bank of Maharashtra and Indian Overseas Bank.

Overseas, investors will prepare for the US Federal Reserve’s policy meeting on 27–28 October. The decision and commentary will be assessed against persistent inflation risks and concerns about economic growth.

For Indian investors, the strait of Hormuz news remains important for oil markets given the route’s role in global crude shipments along with foreign investor flows and the Q2 earnings announcements.

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