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Key gauges end higher amid easing crude oil prices
Sep-23-2026

Indian equity benchmarks ended in green on Wednesday amid easing crude oil prices, which remained below $100 per barrel, and hopes of a possible de-escalation in the West Asia conflict. However, foreign fund outflows capped the gains in the domestic equities. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,809.99 crore on Tuesday, according to exchange data.

Both Sensex and Nifty ended higher supported by buying in Metal, Basic Materials and FMCG stocks. However, selling pressure in IT stocks capped the upside. Meanwhile, traders looked forward to a crucial U.S.-China summit on Thursday, which could lead to new trade agreements amid escalating competition and restrictions on advanced technologies. 

Some of the important factors in trade:

ADB revises upward India's economic growth forecast for FY27 to 7%: The Asian Development Bank (ADB) has raised its forecast for India's economic growth in FY27 to 7 per cent, up from 6.6 per cent projected in July, citing stronger-than-expected economic performance in the first quarter despite supply-side disruptions caused by West Asia crisis. 

India's private sector activity gains momentum in September: HSBC Flash India Purchasing Managers’ Index (PMI) data showing India’s private sector activity strengthened in September, led by a sharper improvement in manufacturing. The HSBC Flash India Composite Output Index rose to 56.5 in September from a final reading of 54.3 in August, signalling the strongest expansion in private sector activity since June.  

Public capex boosts private investment, capital formation: Finance Minister Nirmala Sitharaman has said that public capital expenditure (capex) in India has successfully crowded in private investment, and the impact now reflected in higher capital formation, improved manufacturing capacity utilisation and stronger bank credit to industry. 

States’ revenue to grow by 9-11% to Rs 44 lakh crore in FY27: The rating agency Crisil Ratings, in its latest report, has forecasted 9-11% growth in revenue of 18 large states, which account for more than 90% of India’s gross state domestic product (GSDP), this fiscal (FY27). 

Global front: European markets were trading mostly in red even as survey data from S&P Global revealed the euro area private sector expanded at the fastest pace since April 2023 amid solid expansions in both the services and manufacturing sectors. The flash composite output index advanced to 53.1 in September from 52.0 in the prior month. Asian markets settled mostly lower as investors kept a close eye on developments between the U.S. and Iran, and looked forward to a crucial U.S.-China summit on Thursday. 

Finally, the BSE Sensex rose 299.17 points or 0.40% to 74,828.25 and the CNX Nifty was up by 117.80 points or 0.50% to 23,446.80.

The BSE Sensex touched high and low of 74,973.74 and 74,599.88, respectively. There were 21 stocks advancing against 9 stocks declining on the index. 

The top gaining sectoral indices on the BSE were Metal up by 2.37%, Basic Materials up by 1.64%, FMCG up by 1.30%, Realty up by 1.11% and Telecom up by 0.93%, while IT down by 0.77% and TECK down by 0.31% were the few losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 3.28%, Bajaj Finance up by 3.07%, ITC up by 1.77%, Ultratech Cement up by 1.73% and Power Grid up by 1.65%. On the flip side, HCL Technologies down by 1.10%, Infosys down by 1.03%, TCS down by 0.95%, Titan Company down by 0.60% and Mahindra & Mahindra down by 0.49% were the top losers.             

Meanwhile, India's private sector activity gained momentum in the month of September 2026, as output growth ticked higher at both manufacturing and services companies, with goods producers leading the latest upturn. Aggregate new orders also rose at a quicker pace, prompting a solid expansion in jobs. Further, inflationary pressures faded and business confidence strengthened.

According to the data report, the HSBC Flash India PMI Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - was up from a final reading of 54.3 in August to 56.5 in September. Further, the HSBC Flash India Manufacturing PMI jumped from final reading of 52.8 in August to 55.7 in September, while HSBC Flash India Services PMI Business Activity Index rose to 55.8 in September from August’s final reading of 54.1. 

New export orders continued to rise across the private sector, but the rate of expansion softened from August and was the weakest in close to three years. The moderation reflected slower growth at services firms as manufacturers saw a marginally stronger increase in new work from abroad. Aggregate employment rose solidly in September, as companies continued to add to staffing capacity amid sustained growth of output and new orders. Job creation was recorded in both the manufacturing and service sectors, with rates of expansion broadly similar.

CNX Nifty touched high and low of 23,466.90 and 23,349.55, respectively. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Bajaj Finance up by 3.41%, Hindalco Industries up by 3.17%, Tata Steel up by 3.16%, Apollo Hospital up by 2.64% and JSW Steel up by 2.43%. On the flip side, HCL Technologies down by 1.08%, Titan Company down by 0.98%, Infosys down by 0.86%, Coal India down by 0.81% and TCS down by 0.73% were the top losers.

European markets were trading mostly in red; France’s CAC fell 20.31 points or 0.25% to 8,134.60 and Germany’s DAX lost 126.15 points or 0.49% to 25,452.70, while UK’s FTSE 100 increased 1.7 points or 0.02% to 10,710.03.

Asian markets settled mostly lower on Wednesday following hawkish comments from several Federal Reserve officials, including St. Louis Fed President Alberto Musalem, Richmond Fed President Tom Barkin and Boston Fed President Susan Collins. The officials stressed that additional interest rate hikes may be needed to control inflation, hinting at further tightening. Investors also remained cautious ahead of a high-stakes US-China summit on Thursday. However, South Korea’s Kospi rose by tracking a record-high Nasdaq index rally, while advances in AI-related stocks boosted Korean chipmakers. Meanwhile, Japanese markets were remained closed for Autumn Equinox holiday.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,936.52

-15.61

-0.39

Hang Seng

24,834.12

-253.63

-1.01

Jakarta Composite

6,374.91

97.87

1.54

KLSE Composite

1,676.43

-7.07

-0.42

Nikkei 225

--

--

--

Straits Times

5,709.91

-13.85

-0.24

KOSPI Composite

7,080.92

63.01

0.90

Taiwan Weighted

48,157.29

357.12

0.75
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