Indian equity benchmark indices, the Sensex and Nifty, opened in the red on Wednesday as Brent crude is trading near USD 100 a barrel after the US-Iran conflict widened and Iran-backed Houthi attacks disrupted Saudi energy infrastructure. While the 30-share BSE Sensex dropped 361.36 points or 0.48 per cent to start the session at 75,216.22, the Nifty opened with a drop of 113.05 points to 23,522.05. In the last trading session, the Sensex closed at 75,577.58 and the Nifty 50 at 23,635.10. However, the broader indices traded mixed in the early trading session. While the BSE Midcap Select Index was down by 119.97 points, the BSE Smallcap Select Index gained 3.32 points or 0.04 per cent, to trade in the green at 9,293.29.
From the Sensex pack, Sun Pharma, Adani Ports, Tata Steel, Trent and BEL were the gainers, with Sun Pharma leading the pack by gaining 0.90 per cent in the early trade. On the other hand, Infosys, HCL Tech, Tech Mahindra, Indigo, and Bajaj Finance were among the losers, with Infosys falling 2.30 per cent.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, indicated a negative start today as it opened with a drop of 54 points at 23,659.50, compared to the previous close of 23,713.50. Foreign Institutional Investors (FIIs) turned net sellers on Tuesday, selling equities worth Rs 123 crore on September 8, 2026. However, Domestic Institutional Investors (DIIs) remained buyers, buying equities worth Rs 1,349.64 crore.
“Brent crude is trading near $99.60 a barrel after the U.S.-Iran conflict widened and Iran-backed Houthi attacks disrupted Saudi energy infrastructure. For India, sustained crude prices around or above $100 could intensify inflationary pressures, weigh on the rupee and the current account, squeeze corporate margins and diminish expectations of monetary easing. As a result, elevated oil prices are likely to remain a key overhang on domestic market sentiment even if broader global cues improve,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
Asian Markets Today
Asian stocks traded mixed today after a weak Wall Street close added to the cautious tone, as the latest escalation in hostilities across the Middle East heightened fears of further disruptions to global energy supplies. Japan’s Nikkei 225 was up by 252.67 points or 0.39 per cent to 65,522 at the time of writing the report. However, Hong Kong’s Hang Seng dropped 33.18 points or 0.13 per cent. South Korea’s Kospi gained 112.24 or 1.61 per cent, and Shanghai’s SSE Composite index was up 9.34 points, or 0.24 per cent.
