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Informist, Thursday, Sept. 24, 2026

By Adhithya Aji

MUMBAI – Benchmark indices are likely to fall Thursday as crude oil prices rose and were above the psychological mark of $100 per barrel. Fresh worries over supply disruption led to a rise in energy prices. Moreover, US bond yields surged to their highest level since 2007. The global cues indicated the West Asia war may not end anytime soon and will continue to be an overhang around the global equity markets. Asian stock markets opened lower Thursday and Wall Street indices ended in the red Wednesday.

At 0743 IST, the November futures of Brent crude were at $102.53 per barrel. Crude oil prices climbed and surpassed the psychological mark of $100 per barrel after Iran's President Masoud Pezeshkian speech at the UN General Assembly. Pezeshkian said Iran will never "bend the knee" after seven months of war with the US. "The resistance of the Iranian people will only increase in the face of sanctions, increased pressure, increased bullying," BBC quoted Pezeshkian as saying. However, he indicated Tehran was ready for a diplomatic solution to end the war in West Asia, and insisted that any deal should include an end to the US blockade preventing Iranian ships to pass through the Strait of Hormuz.

Analysts said crude above $100 per barrel is negative for the Indian market and will hit the earnings expectations of companies going ahead. The comfortable level for crude oil prices is around $75–$80 per barrel, according to analysts. The 10-year benchmark US yield rose over 5% and was at the highest levels since 2007.   

At 0812 IST, the September futures of GIFT Nifty were 0.2% lower at 23281.50, indicating a lower opening for the Nifty 50. "The upside seems capped as long as the index trades below the 23500–23600 spot zone on a closing basis," Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. A fall below 23300 level could lead the index down to 23000-23100 zone in the near term, Kumar said.

Foreign institutional investors bought shares worth INR 16.17 billion Wednesday. They turned net buyers after selling for two consecutive sessions. Meanwhile, domestic institutional investors bought equity worth INR 23.41 billion.   

Shares of Insurance companies will be in focus after the Insurance Regulatory Authority of India issued a consultation paper that proposed commission limits and capped management expenses. The regulator proposed commission limits for insurance distributors based on the complexity of sale and service, rather than a uniform approach. IRDAI also capped management expenses for life insurers at 15% of gross direct premium income within two years and 12.5% within five years. Management expenses for general insurers will be capped at 25% of gross direct premium income in two years and 20% in five years.

The regulator's consultation paper has the potential to redefine the insurance manufacturer and distributor business model by even completely destroying some business models, Emkay Global Financial Services said. The intent behind the overhaul is to address the root cause behind mis-selling and also make insurance more affordable. "However, the drastic cut in distribution commission would also make insurance distribution an unviable business and an unattractive vocation," Emkay said in a report.

NSE is set to make its debut on BSE Thursday. The Metropolitan Stock Exchange of India has also admitted the stock for trading on the exchange from Thursday. The issue price is set at INR 1,785. End

US$1 = INR 95.74

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

Edited by Akul Nishant Akhoury

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