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Informist, Monday, Sept. 7, 2026

By Adhithya Aji

MUMBAI – Benchmark indices are expected to start the week on a negative note as the escalating war between the US and Iran in West Asia weighs on sentiment. Crude oil prices remained elevated at nearly $97 per barrel. The GIFT Nifty points to a lower opening for the Nifty 50.

Reports said Iran plans to announce a new 'exclusion zone' near the Strait of Hormuz, aimed at vessels it believes are attempting to transit the waterway. This comes after the US targeted three Iranian oil tankers in retaliation for Tehran's attack on US warships. Crude oil prices remained elevated as energy supply concerns persist due to the ongoing war. Data from Kpler revealed that shipping traffic through the Strait of Hormuz has fallen to its lowest level since May, despite the US claims that the Navy is escorting more ships through the waterway. 

US Energy Secretary Chris Wright said Sunday the US may not be able to reach a nuclear deal with Iran as negotiations appear stalled. "There may not be a nuclear agreement," The Guardian cited Wright as saying. The US-Iran war began with Washington seeking to prevent Iran from developing nuclear weapons. Wright's comments suggest the conflict could continue without a diplomatic resolution. 

Back home, foreign institutional investors were net sellers of shares. They sold shares worth over INR 31 billion Friday. They were net sellers for the second consecutive session. Foreign participants are primarily influenced by the bond yields, which are rising globally, according to VK Vijayakumar, chief investment strategist at Geojit Investments. "It would be irrational to expect significant FPI flows into India when the US 10-year bonds and 30-year bonds are yielding 4.78% and 5.27% respectively," Vijayakumar said in a note.

The US Treasury yields rose after the jobs report, with the 2-year Treasury yield rising more than 4 basis points to 4.377% and reaching its highest level since January 2025 during the day. The 10-year Treasury yield settled at 4.78%, up 1 bp from Thursday. This follows the US employment report for August, which showed non-farm payrolls increased by 162,000 and the unemployment rate was unchanged at 4.1%. Economists polled by Reuters expected job additions of 56,000. This reading has sparked rate-hike expectations among market participants.

At 0814 IST, the September futures of GIFT NIFTY contracts were 0.2% lower at 23958.50, indicating a negative open for the Nifty 50. The 50-stock index is trading close to the support zone 23600-23800 of the past two-and-a-half-month consolidation phase, Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. A sustained move above 24000 is expected to lead the index towards 24200 and higher levels in the near term. "Hence, we suggest that traders maintain a stock and sector-specific trading approach as long as the index is hovering within this consolidation phase," Kumar said. 

Starting Monday, the exchanges have revised the pre-open framework to align it with the new closing auction system introduced in March. Under the new system, from 0905 IST to 0910 IST, no market orders can be placed or revised. The random closing mechanism will now take place between 0908 IST and 0910 IST, instead of 0907 IST.  End

US$1 = INR 94.49

Edited by Saji George Titus

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