Overnight tone is risk-on, and the single driver is oil — reports that Iran and Oman are discussing an interim framework to reopen shipping through the Strait of Hormuz knocked Brent back toward $85, which lifted Wall Street, cooled US yields and hands India's open a tailwind.

US: prior close (Aug 25)

• S&P 500 closed at 7,677.28, up 0.32%; the Dow added roughly 160 points (+0.30%) and the Nasdaq Composite rose 0.66%, as reported by Eastern Herald and Upstox.
• Ceasefire hopes and softer crude did the work. Moderna jumped over 14% on melanoma vaccine data; Albemarle was the worst S&P performer after guidance was cut.

Asia, trading now

• Nikkei 225 ~66,206, +0.53%; Hang Seng ~25,780, +1.05% — both per Trading Economics.
• Shanghai Composite +0.5% (prior close 3,889.44) and Kospi +1.03%, per Upstox — chipmakers bid up ahead of Nvidia.

Europe: Tuesday close

Per Trading Economics: DAX 26,236 (+0.50%) on firm German GDP and confidence data, FTSE 100 ~10,868 (+0.11%) — a sixth straight gain — and Euro Stoxx 50 6,458 (+0.15%).

India lead

GIFT Nifty is quoted at 24,561, up about 89 points (Upstox; Business Standard has 24,558/+87), pointing to a positive open against Tuesday's Nifty 50 close of 24,334.55 (+0.48%) and Sensex 77,656.09 (+0.37%). FIIs were net buyers of ₹1,593.53 crore on Tuesday, DIIs ₹230.26 crore.

Commodities, currency, rates

• Brent around $85, down ~2.4% intraday (Upstox); Business Standard has September Brent at $85.43.
• Gold near $4,643/oz (Trading Economics); gold futures +0.46% (Business Standard).
• USD/INR ~95.11 and the dollar index ~98.9, per Trading Economics. US 10-year at 4.63%, easing from a 20-month high of 4.75% hit on Aug 21.

On the calendar today

• US, 6:00 pm IST: Q2 GDP (second estimate, prior 1.5%), Personal Income & Outlays — which carries the PCE deflator, the Fed's target gauge — and Durable Goods Orders. A hot PCE revives the higher-for-longer trade and pressures the rupee; a soft print is a straight positive for Indian rate-sensitives.
• Euro area: M3 money supply and bank lending. UK: CBI distributive trades.
• Tomorrow: US initial jobless claims, forecast ~207K vs 206K prior.
• India: no major scheduled macro release today — the next markers are weekly RBI forex reserves on Friday, then month-start auto sales and S&P Global manufacturing PMI.
• Tonight: Nvidia reports Q2 FY27 after the US close (MarketBeat) — the swing factor for Indian IT and global risk appetite on Thursday.

Stocks and events in focus

Hindustan Copper's OFS opens to retail today; Varun Beverages is entering the alcoholic beverages segment; Emami and ITC Hotels are in the news. In primary markets, Annu Projects (₹175 crore) and Sumax Engineering (₹53 crore) are in day two, and Gaja Alternative lists today.

What it means for the India open

Cheaper crude is the cleanest positive India can get — it eases the import bill, the inflation path and rupee pressure at once, so OMCs, paints, aviation and rate-sensitives are the natural beneficiaries while upstream oil names lag. With global cues green and FIIs buying, the bias is a firm start. But the day's real risk sits after the bell: US PCE at 6:00 pm and Nvidia overnight can reverse the mood before Thursday.

As of 9:00 AM IST, 26 August 2026. Sources: Business Standard, Upstox, Trading Economics, Eastern Herald, The Right Trader, MarketBeat. All prices and index levels are as reported by these sources, not live exchange data. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.