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Informist, Thursday, Sept. 10, 2026

By Adhithya Aji

MUMBAI – Benchmark indices are expected to fall Thursday amid a sharp rise in crude oil prices. Fresh escalation in tensions in West Asia pushed crude oil prices to nearly $102 per barrel. Indian equity markets, which are sensitive to crude oil prices, are likely to come under pressure. Adding to the pressure, US Treasury yields touched their highest levels since 2023. Asian markets opened lower Thursday, tracking losses on Wall Street. 

Iran and the US launched attacks on each other. The US targeted Iranian oil carriers after Tehran fired missiles at US warships. Following a series of missile attacks, Iran said it stood ready for an intensified conflict, Reuters reported. At 0724 IST, November Brent crude futures were at $101.64 per barrel, up 0.4%. Brent crude prices hit a high of $101.94, the highest level since July.

Crude oil prices above $100 per barrel are negative for the market in the short to medium term, an equity analyst with a domestic brokerage said. On the earnings front, the impact in the September quarter might not be significant, and the momentum seen in the June quarter is expected to continue, the analyst said. This is because companies successfully passed on higher costs in the previous quarter and are expected to do the same this quarter.

In the US, the benchmark 10-year Treasury yield reached its highest level since 2023 after the US Treasury Department said it would buy up to $6 billion in 10- to 20-year Treasury bonds during its buyback operation. However, market participants had expected a larger buyback. Earlier, bond yields had risen sharply on inflation concerns. The US Treasury Department announced the buyback of longer-dated bonds as part of efforts to support market liquidity. The 10-year note was up 3.06 basis points at 4.835%.

At 0740 IST, September GIFT Nifty futures were 0.3% higher at 23486. "Brent Crude prices touched the $100 mark again, leading to negative sentiment among equity investors," Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. The Nifty 50 is expected to fall toward the 23000–23200 levels, where buying pressure may emerge and potentially trigger a recovery. However, around the 23600–23650 levels, the index is likely to see selling pressure, according to Kumar.

On the global front, Asian indices opened lower, with South Korea's Kospi falling the most in the region, down nearly 2%. The sharp rise in crude oil weighed on Asian markets as several economies in the region are heavily dependent on crude oil imports. US Indices also ended lower overnight.  End

US$1 = INR 95.11

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

Edited by Saji George Titus

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