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Informist, Thursday, Sept. 10, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices flat after opening tad higher; IT cos rise 

 

MUMBAI--0947 IST--Benchmark indices opened a tad higher Thursday and later turned flat amid crude oil prices rising to $102 per barrel. The heavyweight Reliance Industries and Mahindra & Mahindra fell and weighed on the indices. They were down 1% and nearly 2%, respectively. Information technology stocks rose after falling for six sessions. At 0940 IST, the Nifty 50 was at 23418.70, down 12.80 points or 0.1%, and the BSE Sensex was at 74732.41, down 31.82 points.

 

Oil and Natural Gas Corp. was the top gainer among the Nifty 50 constituents, up over 2%. The shares of the oil explorer rose after the Brent Crude prices touched a high of nearly $102 per barrel. Shares of State Bank of India and Axis Bank gained nearly 2?ch. Cipla was up nearly 1%. Information technology companies Tata Consultancy Services and Infosys rose around 1%  each.

 

On other hand, Adani Enterprises was the worst hit stock in the Nifty 50 index, down nearly 2%. Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki India, and Eicher Motors fell around 1%  each. InterGlobe Aviation fell nearly 1% due to a sharp rise in crude oil prices. Higher crude oil prices translate to higher jet fuel costs for the airline. Shriram Finance, Adani Ports and Special Economic Zone, and Asian Paints fell around 1%  each.

 

The broader market indices were mixed. Midcap indices fell 0.2-0.3%. Nifty Smallcap 250 and Nifty Smallcap 100 were up around 0.1%  each, while Nifty Smallcap 50 was down 0.1%. Among sectoral indices, Nifty Auto was the worst performer, down 0.7%. On other hand, Nifty PSU Bank was the top gainer, up nearly 1%. Nifty IT rose 0.6%, snapping its six-day fall. 

 

Tata Investment Corp. was the top gainer in both the Nifty 200 and Nifty 500 indices, up nearly 9%. Shares of oil explorer Oil India was up nearly 3%. Aurobindo Pharma fell 2% to be the major laggard in the Nifty 200. Adani Enterprises and Adani Energy Solutions fell nearly 2% and over 1%, respectively. In the Nifty 500, shares of HEG were the worst hit, down nearly 3%.  (Adhithya Aji)

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Equity Alert: Asian indices fall as oil prices remain above $100 a barrel

 

MUMBAI--0825 IST--Major Asian indices were down Thursday as crude oil prices remained above $100 per barrel after Iran said that it had attacked 10 ships near the Strait of Hormuz in reply to the US attack on five Iranian oil tankers. The Australian S&P/ASX 200 index was the worst hit in the region and was down nearly 2%.    

 

"I think that Brent pushing through the $100 level will be seen by many in the market as a significant event in the current scheme of things," Nick Twidale, chief market strategist at ATFX Global, told Reuters. Global bond yields are expected to push higher as the market adjusts to higher inflation in the coming months, he added.

 

Government bond yields were up in the region, with Japan's 10-year government bond yield gaining nearly 4 basis points to 2.915%. Yields on Australia's 10-year sovereign debt were up 6 bps to 5.2740% and New Zealand's 10-year government securities rose 8 bps to 4.8730%, according to a Dow Jones Newswire report.

 

The Japanese yen has risen 4% against the US dollar in September as investors expect an interest rate hike by the Bank of Japan next week and another hike in December, a Reuters report said. "Failure to deliver a hike, alongside clearer signals of a faster pace of tightening next week, will likely trigger a sharp renewed weakening of the yen," Carol Kong, a currency strategist at Commonwealth Bank of Australia, told Reuters.

 

Shares of heavyweights Rio Tinto and BHP Group were down nearly 4% and over 3%, respectively, dragging down the S&P/ASK 200 index. Hong Kong's Hang Seng Index was down over 1%, while China's CSI 300 fell marginally. South Korea's Kospi fell around 1.5%. Construction and retail stocks led losses in Japan, with shares of Ryohin Keikaku and Taisei Corp. falling over 3% and over 5%, respectively. Japan's Nikkei 225 was down nearly 1%. 

 

Following are the levels of key indices in the region at 0750 IST:    

 

Index	Level	Change in %
Nikkei 225 Day	64557.54	(-)0.9
TOPIX FIRST SECTION	4032.06	(-)0.4
S&P/ASX 200 Index	8748.50	(-)1.8
KOSPI Index	6946.75	(-)1.5
Hang Seng Index	24953.84	(-)1.3
CSI 300 Index	4553.02	(-)0.4
FTSE Singapore Strait Times	5701.18	(-)0.5

 

(Vidhi Thacker)

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Equity Alert: OP Bhatt exit as Coforge chairman not concerning, says Nuvama

 

MUMBAI--0820 IST--Broking firm Nuvama Institutional Equities sees the resignation of Coforge Chairman O.P. Bhatt as not concerning. According to the brokerage, concerns around the company's board post Bhatt's resignation were overdone. The brokerage also retained its 'buy' recommendation on the stock with an unchanged target price of INR 2,350.

 

"We see no impact of this even on the business or financials of the company," Nuvama said in its report. "We also do not see any concern related to the functioning of the board, as the matter relates to disclosure and process concerns, which are not from the Board's side," it said.

 

Bhatt Tuesday resigned with immediate effect after the company's internal auditor found issues with a board evaluation report, which was prepared under the guidance of Bhatt. In its audit for the June quarter, the company's internal auditor highlighted concerns while reviewing the process followed to prepare the board evaluation report. Based on this review, the board sought an explanation from Bhatt, who responded that he acted in "good faith." Following Bhatt's resignation, the company named Vivek Sharma as interim chairperson until Jan. 31, 2027, the company said. 

 

According to Nuvama, the non-renewal of Bhatt's role as board member and chairman were not big surprises, given his age. "While the lack of disclosures, leading to his resignation, was a surprise, it is not a reflection of the company, the board and its practices," the brokerage said in the report. Nuvama expects management's focus on margins and cashflows to lead to strong earnings growth.  (Arundathi A R)

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Equity Alert: Market likely to fall as crude oil nears $102/bbl

 

MUMBAI--0821 IS--Benchmark equity indices are likely to fall as crude oil prices rose to their highest level since July amid an escalation in the West Asia conflict. Brent crude prices rose to nearly $102 per barrel after attacks by the US and Iran on shipping in the region heightened concerns over energy supplies. Asian markets opened lower Thursday, while US indices ended lower Wednesday. 

 

"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 23600–23650 levels, the index is likely to see selling pressure, according to Kumar. 

 

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.  (Adhithya Aji)

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Equity Alert: US indices end lower for third day as oil prices rise

 

MUMBAI--0740 IST--Major US equity indices closed lower as crude oil prices continued to climb amid tensions between the US and Iran. The November Brent crude futures contract settled above $101 per barrel on Wednesday. US Treasury yields also rose after the Treasury Department said it would triple the size of its buyback operation. The Dow Jones Industrial Average was the worst hit among the major US indices, closing nearly 1% lower.     

 

The yield on the US 10-year treasury note was up 4 basis points at 4.845%, and hit its highest level since Nov. 1, 2023 during the day, CNBC reported. The 30-year treasury bond yield also gained 3 bps and was at 5.295%, according to the report. Treasury Secretary Scott Bessent said the department will buy back up to $6 billion in long-term debt. Yields on long-term bonds were also up as investors expected the buyback to be $7 billion or $8 billion, Peter Boockvar of the Boock Report told CNBC.     

 

"Fears of rising interest rates coupled with escalating crude oil prices is never a great combination for the stock market," JJ Kinahan, senior vice president at Cboe Global Markets, told CNBC. "We're seeing that in today's early trading as investors move into defensive mode." 

 

Wednesday, all three major indices closed lower for the third consecutive day. The Nasdaq Composite closed 0.6% lower, while the broader S&P 500 index ended 0.5% down. Shares of Caterpillar and Nvidia Corp. ended nearly 1% lower each. Shares of Apple fell nearly 2?ter its latest product launch, but recovered and closed marginally lower. 

 

Following are the closing levels of key indices in the region: 

 

Index	Level	Change in %
Dow Jones Industrial Average	52380.66	(-)0.8
NASDAQ Composite	26253.34	(-)0.6
S&P 500	7636.36	(-)0.5

 

(Vidhi Thacker)

 

US$1 = INR 95.24

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

 

Edited by Akul Nishant Akhoury

 

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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