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Markets likely to make gap-down opening; Brent crude nears $100/barrel mark
Sep-09-2026

Indian markets are likely to make gap-down opening on Wednesday as rising crude oil prices and US-Iran hostilities continue to keep risk appetite subdued. Brent crude climbed close to $100 a barrel mark, which raised inflation fears and likely to pose a significant macro headwind for India. Some cautiousness may come amid foreign fund outflows. Foreign institutional investors (FIIs) turned net sellers on September 8, offloading Indian equities worth Rs 123 crore. 

Some of the key factors to be watched:

Rainfall deficiency widens to 14% so far this season: Crisil in its report stated that Rainfall deficiency has widened to 14% so far this season, worse than expected for the southwest monsoon. September, too, is forecast to witness below-normal rainfall. Crisil's Rainfall Distortion Index (RDI) records a deficiency score of 14.4, making this the most spatially distorted monsoon in a decade.

India faces higher oil import costs as crude prices surge on West Asia supply risks: A private report indicated that India faces the prospect of a higher oil import bill and renewed inflationary pressure after international crude prices surged on September 08, with Brent approaching $100 a barrel as escalating West Asia tensions raised concerns about disruptions to global supplies.

Fresh impetus to India-Morocco defence cooperation: The inaugural Joint Defence Committee meeting between India and Morocco took place on September 08, 2026. The two sides discussed areas of mutual interest in the field of training & education, peacekeeping operations, military exercises, medical cooperation, cyber defence and defence industries. They agreed to further expand defence ties.

RBI begins inflation, consumer confidence surveys ahead of October policy review: The Reserve Bank of India (RBI) has launched three surveys to assess household inflation expectations and consumer sentiment ahead of its next bi-monthly monetary policy announcement, scheduled for October 7.

Kharif paddy sowing lags, pulses area up in 2026 season: Data released by the Agriculture Ministry showed that total area sown under paddy is running 3.71 per cent lower at 421.82 lakh hectares (ha) so far in the ongoing 2026 kharif season, against 438.19 lakh ha a year ago, mainly on account of lower coverage in Karnataka and Telangana.

On the global front: The US markets ended lower on Tuesday as losses in software stocks, rising oil prices and uncertainty around the Federal Reserve's next policy move weighed on sentiment. Asian markets are trading mixed on Wednesday as attacks intensified in the Middle East, stoking inflation worries ahead of the release of closely watched US consumer price data.

Back home, Indian equity benchmarks ended lower on Tuesday, registering their second day of decline, as rising crude oil prices and the US-Iran hostilities kept risk appetite subdued. Selling in blue-chip stocks ICICI Bank, HDFC Bank and Reliance Industries also dragged the markets lower. Finally, the BSE Sensex fell 555.23 points or 0.73% to 75,577.58 and the CNX Nifty was down by 144.05 points or 0.61% to 23,635.10.

Some of the important factors in trade:

CII Business Confidence Index strengthens to 66.0 in Q2FY27 as India Inc turns more optimistic: Reflecting India’s strong economic growth and rising optimism across industries, the Confederation of Indian Industry’s (CII) Business Confidence Index (BCI) rose to 66.0 in the second quarter of fiscal year 2026-27 (Q2FY27), its highest level in recent quarters, from 60.8 in the preceding quarter. 

UK recognizes India's Carbon Credit Trading Scheme under carbon tax mechanism: In a significant relief to Indian exporters, the UK has recognised India's Carbon Credit Trading Scheme (CCTS) as a qualifying criterion for pricing relief under its carbon border adjustment mechanism (CBAM). 

NBFCs loans against gold jewellery surge 68.5% in July: The Reserve Bank of India (RBI) in its the periodic data has showed that Non-banking financial companies’ (NBFCs) loans against gold jewellery grew at 68.5 per cent year-on-year in July 2026, continuing a months-long trend of elevated lending against precious metals.

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