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Informist, Tuesday, Sept. 29, 2026

By Adhithya Aji

MUMBAI – Indices are likely to open lower Tuesday as global cues are not positive for Indian equities. Crude oil prices remained elevated amid the US-Iran war, which is seeing no indication of ending soon and easing supply worries. On other hand, US bond yields touched new highs. Globally, all the Asian indices opened lower Tuesday and Wall Street indices ended lower Monday.

The November futures of Brent crude were nearly 2% higher at $107 per barrel. Crude oil prices were nearly 47% higher than the levels before the US and Iran war, which led to oil supply disruptions. A halt in the war between the two nations is the only factor that could bring down energy prices substantially. US President Donald Trump rejected a news report from news agency Axios saying he offered sanctions relief and frozen funds to Iran. "This is untrue. I offered them NOTHING!," Trump said in a social media post and termed the article as "Hoax". The war between the two nations seems to continue without finding any resolution. The 10-year US bond yield touched its highest level of 5.24% since 2007. 

Monday, the government released industrial output data for August. India's industrial output, as measured by the Index of Industrial Production, grew 8.0% in August, led by higher manufacturing and electricity output, data from the statistics ministry showed. The country's factory output growth accelerated from 7.4% in July. "Overall, the August IIP print suggests continued resilience in economic activity," Nirmal Bang Institutional Equities said in  a report. Amid the resilient growth, early signs of broad-based inflationary pressures and an interest rate hike by the US Federal Reserve, the Reserve Bank of India is expected to raise the interest rates in its monetary policy meeting that starts next week. The central bank is expected to raise the benchmark rates by around 50 basis points to 75 bps.

At 0750 IST, the September futures of GIFT Nifty were flat at 22819.50, indicating a flat open for the Nifty 50. The 50-stock index is likely to see some volatility due to the monthly expiry of futures and options. A fall below 22700 could intensify selling pressure and drag the index towards 22400, according to Pabitro Mukherjee, deputy vice president of research at Bajaj Broking. "On the upside, a meaningful trend reversal would require the index to form a sustained Higher High–Higher Low structure and reclaim the 23000-23100 level," Mukherjee said in a note.  

The 50-stock index is gearing up for a major reshuffle as part of its semi-annual review after Tuesday's closing. Multiple companies will move between Nifty 100, Next Nifty 50, and Nifty 500 indices. One of the major changes is the exit of information technology major Wipro from the Nifty 50 and move to Next Nifty 50. Telecommunications major Vodafone Idea will be added to Nifty 100 and Next Nifty 50. The Stocks Exchange BSE, Hitachi Energy India, Polycab India, and Vedanta Aluminium Metal are the other stocks that will find their place in the Nifty 100 index. Meanwhile, India Hotels, Lodha Developers, REC, Shree Cement, and United Spirits will exit the Nifty 100.  End

US$1 = INR 95.98

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

Edited by Akul Nishant Akhoury

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