Pre-Market 9 October 2026: GIFT Nifty Hints At Positive Start As Investors Track Crude Oil, Rupee And Global Cues

Indian equities head into Friday’s session after a sharp sell-off on Thursday, with crude oil prices hovering above $104 a barrel and a weaker rupee adding to market concerns.

Indian Markets End At An 18-Month Low

Indian equities came under heavy selling pressure on Thursday as rising crude oil prices and concerns over tighter monetary conditions weighed on sentiment. The Sensex fell 1,045.46 points, or 1.44%, to close at 71,593.24. The Nifty 50 shed 371.25 points, or 1.64%, to settle at 22,231.80, its lowest closing level in 18 months.

The sell-off extended beyond the benchmark indices. Rate-sensitive shares, commodity stocks and FMCG companies faced pressure as investors assessed the impact of higher energy costs and a weakening rupee.

Brent crude futures rose more than 4% to around $104.50 a barrel on Thursday. The rupee weakened 13 paise to close at ₹96.88 against the US dollar, adding to concerns about imported inflation and the cost of overseas purchases.

Foreign fund selling has added to the pressure on domestic equities. Provisional exchange data showed that foreign institutional investors sold shares worth ₹6,121.37 crore on Wednesday.

Global Markets

US markets ended mixed on Thursday. The Dow Jones Industrial Average rose 0.10% to 51,231.64, while the S&P 500 fell 0.47% to 7,765.36. The Nasdaq Composite fell 1.25% to 27,193.34.

European equities ended lower. The FTSE 100 closed at 10,441.60, down 0.16%, while France's CAC 40 fell 0.51% to 7,729.69.

Asian markets recorded steeper losses. Japan’s Nikkei 225 lost 1.42% to close at 69,042.11. South Korea’s Kospi fared worse, falling 2.62% to 6,625.93.

GIFT Nifty Live

At 7:59 am on 9 October 2026, GIFT Nifty was trading at 22,364.50, up 0.49% pointing to a positive start for Friday’s session.

Nifty 50 Technical View

The 22,000 mark is the next key level to watch on the downside. If the Nifty slips below it and stays there, the index could come under further pressure. The next support lies at 21,700, a level that coincides with the April 2025 low.

Any recovery will bring 22,400 into focus first, followed by 22,600. The index would need to move back above these levels to show signs of a stronger rebound.

What Could Shape Friday's Trade?

Investors will track developments around the Middle East and the Strait of Hormuz, where shipping attacks have raised concerns over crude oil supplies. A hurricane near the Gulf of Mexico has also disrupted some US offshore oil output. If crude prices stay high, India’s oil import bill could rise further, adding to inflation concerns.

The impact of crude oil prices on the rupee is another factor to watch, as higher oil costs can increase demand for US dollars to pay for imports and put further pressure on the Indian currency.

US bond yields are also worth tracking. The 10-year Treasury yield hovered near 5.3% on Thursday, close to levels last seen in 2002. Higher yields can draw investors towards US assets and away from emerging markets such as India.

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