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Informist, Tuesday, Sept. 8, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Seen range-bound as high crude oil prices weigh on sentiment

 

MUMBAI--0812 IST--Equity indices are expected to move in a range Tuesday as higher crude oil prices weigh on sentiment amid the war in West Asia. November Brent crude futures were over $97 per barrel and are likely to weigh on investor sentiment. The Nifty 50 might see some volatility Tuesday due to the weekly futures expiry, technical analysts said. Defence stocks will be the centre of attraction after the government approved acquisition proposals worth INR 1.10 trillion.

 

At 0723 IST, November Brent futures were up 0.2% at $97.15 per barrel. This is more than 33?ove the pre-war levels. Analysts said crude oil will stabilise only if there is more clarity on the war in West Asia ending. Moreover, crude oil levels are significantly higher than what is comfortable for India, a net importer of oil. Analysts see a comfortable level for crude oil for India at around $75-$80 per barrel.

 

On Tuesday, the possibility of a bounce-back in the Nifty 50 to the 24000 mark cannot be ruled out, according to Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market. "Moving forward, a cross and sustenance above 24000 is essential for a sustained move toward 24200, followed by the 24350 level," Kumar added. Some technical analysts echoed this view, saying the Nifty 50 might bounce back as the index is now in an oversold position. On Tuesday, the Nifty 50 might see some volatility owing to the weekly futures expiry, analysts said.

 

Defence stocks will be in focus today after the Defence Acquisition Council, headed by Defence Minister Rajnath Singh, accorded in-principle administrative approval to various acquisition proposals of the defence forces on Monday at an estimated cost of about INR 1.10 trillion. The government said that, of the total approvals accorded, approximately 98% of procurements will be made from Indian industry.  (Adhithya Aji)

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Equity Alert: Asian indices mixed as crude oil prices rise for the third day

 

MUMBAI--0745 IST--Major indices in Asia were mixed as crude oil prices were up for a third consecutive day over fresh attacks between the US and Iran over the weekend. US President Donald Trump Monday said in a Truth Social post that oil prices would "drop precipitously" after the US wins the war with Iran, expecting it to drop $3 a gallon and ultimately $2 a gallon. He added that Iran will "never have a Nuclear Weapon." 

 

The November futures contract of Brent crude oil was up marginally at $97 per barrel Tuesday. US markets were closed for trading Monday for Labor Day. The Dow September futures contract was down nearly 0.6%.        

 

Investors expect the Bank of Japan to hike interest rates later this month after Japan's GDP growth for the June quarter was at an annualised 1.4%, above the initially expected 1.1%, according to a Reuters report. "Given that the April–June quarter was a period when the Middle East situation could have exerted downward pressure, the fact that growth ended up around this level is notable. It is not at all a situation where we need to worry about the economy... That means the Bank of Japan can definitely move ahead with rate hikes," Kento Minami, senior economist at Daiwa Securities, told Reuters.

 

Investors expect a 98% chance of a 25-basis-point hike to 1.25% by the Bank of Japan at its September meeting, according to the Reuters report. Traders also expect another 25 bps hike at the January meeting. 

 

Tuesday, the South Korean Kospi was the region's top gainer, rising over 1%. Shares of heavyweights SK Square, SK Hynix, and Samsung Electronics were up 2–4%. Japan's Nikkei 225 was up marginally, while Topix was down around 0.4%. SoftBank Group Corp shares supported the Nikkei and were up nearly 6%. Mainland China's CSI 300 Index was nearly flat, and Hong Kong's Hang Seng was down 0.5%.   

 

The following are the key levels of indices in the region at 0715 IST:

 

Index	Level	Change in %
Nikkei 225 Day	66507.08	0.2
TOPIX FIRST SECTION	4108.92	(-)0.4
S&P/ASX 200 Index	8956.30	(-)0.6
KOSPI Index	7082.20	1.2
Hang Seng Index	25279.83	(-)0.5
CSI 300 Index	4580.06	0.1
FTSE Singapore Strait Times	5766.67	(-)0.4

 

(Vidhi Thacker)

 

US$1 = INR 94.49

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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