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Informist, Friday, Sept. 11, 2026

By Arundathi A R

MUMBAI – Headline equity indices are likely to open lower Friday as the intensifying war in West Asia pushed Brent crude oil prices to a nearly four-month high of $109 a barrel. GIFT Nifty's September futures contract also suggested a lower open for the domestic benchmarks. Most Asian equity indices were lower in early trade Friday, while all three major US indices also settled lower Thursday.

US President Donald Trump said Thursday that he does not regret the ongoing Iran war despite the impact the conflict may have on the November US midterm elections, according to a Mint report. "I don't believe in the word 'regret,'" Trump told Fox News, according to the report. "You can always question yourself a little bit. If I had it to do again, I would do exactly as I did," he added.

Trump has urged Iran "not to get cute" over activity at a suspected nuclear site on Pickaxe Mountain, after continuous attacks by both countries on tankers around the Strait of Hormuz, CNBC reported. "We notice there's a little activity at ‌Pickaxe. I would advise Iran not to get cute because we will have to hit them very hard," CNBC reported, quoting Trump as saying at a midterm Republican convention Wednesday.

At 0730 IST, the November delivery of Brent crude oil was marginally higher from its previous close at $107.75 a barrel on the Intercontinental Exchange. In a week, the crude oil futures contract gained almost 12% amid the escalation in the war in West Asia. Iran-backed Houthis have seized the Red Sea city of Mocha Thursday, expanding control over the strategic Bab al-Mandeb Strait, one of the world's most important trade routes, according to reports.

"The Yemeni government tried to put up a fight; they called reinforcements... but the overwhelming military pressure of the Ansar Allah Houthis eventually [led to them taking] over the port and the city itself," Al Jazeera reported, quoting sources. Due to the recent attacks on tankers in the Strait of Hormuz amid naval blockades imposed by Tehran and Washington, traffic through the region remains restricted.

With crude oil prices surging, Treasury yields also reached multiple-year highs Thursday, raising the stakes for next week's Federal Reserve meeting, according to Dow Jones Newswires. The benchmark 10-year yield rose 0.104 percentage points to 4.943%, its highest level since October 2023.

Back home, India and Russia aim to reach $100 billion in bilateral trade by 2030, according to Commerce Minister Piyush Goyal. Both the countries have also committed to achieving two-way investment worth $50 billion. "A $100-billion target with a $60-billion base means adding about $40 billion in the next four years," Goyal said at the India-Russia Business Dialogue 2026 in New Delhi.

At 0754 IST, the September futures contract of GIFT Nifty was slightly higher from its previous close at 23350. This was nearly 130 points lower than the Nifty 50's Thursday close, indicating a fall in the benchmark index Friday. "The benchmark Nifty (50) index settled on a flat note after a lacklustre trading session in which neither bulls nor bears were able to drive the market in their direction," Vipin Kumar, assistant vice president of research at Globe Capital Market, said. "Looking ahead, a bounce toward the 23600–23650 spot range would attract fresh selling interest among traders as long as the index trades below the 23800 spot level. Downside support is positioned around the 23200–23000 spot levels," he said.

Thursday, foreign institutional investors net sold equity shares worth INR 4.38 billion, while domestic investors net bought shares worth INR 10.26 billion. Foreign investors continued selling for the third straight session, while domestic investors remained net buyers for the past few sessions.

Among Asian equity indices, Japan's Nikkei 225 was hit hardest, down nearly 3%. South Korea's KOSPI was also down more than 2%. All three major US indices closed nearly 1% lower on Thursday.  End

US$1 = INR 95.44

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

Edited by Saji George Titus

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