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Informist, Thursday, Sept. 24, 2026

 

By Adhithya Aji 

 

MUMBAI – The benchmark indices are expected to fall from current levels as investors track the movement of crude oil prices to set market direction. The overall market structure remains weak, as other than elevated crude oil prices, rising US bond yields and higher inflation concerns are also impacting investor sentiment. 

 

The November futures of Brent crude oil were at nearly $105 per barrel. Thursday, crude oil prices rose over 3% to an intraday high of $106.50 per barrel. Energy prices jumped after a senior adviser to Iran's supreme leader warned that the war could expand to the Indian Ocean if the US or Israel launched further attacks. This sparked concern that the war in West Asia could escalate and further disrupt oil supplies.

 

"The devil in the room is crude oil prices," Sunny Agrawal, head of fundamental equity research at SBICAP Securities, said. Higher crude oil prices are leading to a narrative of higher inflation and higher interest rates in the Indian economy. Moreover, India is facing a potential tariff threat from the US due to New Delhi's purchases of Russian oil. This is clouding investor sentiment as well, according to Agrawal. However, the movement of crude oil prices will be the key factor to monitor, the analyst added.

 

Higher crude oil prices may not impact the earnings outlook for Indian corporations. Analysts said that while crude oil prices remained high in the June quarter as well, the companies still reported better-than-expected results. No impact is seen on the upcoming September quarter earnings as of now, Agrawal said. The companies have passed on most of their higher input costs to customers. "In fact, the companies are expected to see margin recovery due to these corrective measures," the analyst said. 

 

The overall market structure appears to be weak, according to technical analysts. "The broader market structure remains fragile, with significant selling pressure extending across the Midcap and Smallcap segments," Osho Krishan, chief manager, technical & derivative research, at Angel One, said in a note. The support for the Nifty 50 is seen around 22800-22700 points, while the resistance is estimated at 23500-23600 points, according to technical analysts.  End

 

US$1 = INR 95.95

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

 

Edited by Himanshi Gupta

 

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