SGX Nifty September 2026 futures declined by 51 points, suggesting a bearish start for the Nifty 50 in light of unfavourable global indicators.
HDFC Bank will attract attention following the decision of managing director and CEO Sashidhar Jagdishan not to pursue reappointment. He will resign at the conclusion of business on 26 October 2026, coinciding with the end of his current term. The lender communicated his decision to the exchanges on Saturday. The bank’s board has also resolved to accelerate the process of identifying and appointing his successor.
Institutional Flows:
On 28 August 2026, foreign portfolio investors divested shares amounting to Rs 5,039.80 crore, whereas domestic institutional investors recorded net purchases totalling Rs 5,183.93 crore in the Indian equity market, as per provisional data. Foreign Portfolio Investors acquired shares valued at Rs 18,790.32 crore in August up to 28 August 2026. This follows net cash purchases of Rs 6,731.97 crore in July 2026, while they were net sellers of Rs 53,957.90 crore in June 2026.
Global Markets:
US stock futures were trading 156 lower on Monday, indicating a weak opening for Wall Street, while most Asian markets experienced declines as investors evaluated a more hawkish policy outlook from Federal Reserve Chair Kevin Warsh and the resurgence of tensions between the US and Iran. Warsh indicated that the Fed would have “work to do” if it lacked confidence in the return of underlying inflation to its 2% target, leading markets to increase the likelihood of a September rate hike to approximately 57%. Asian technology stocks faced downward pressure as elevated anticipated borrowing costs dampened risk appetite.
Oil prices experienced an uptick following the US military’s engagement with Iranian missile launchers in proximity to the Strait of Hormuz. Brent crude rose to approximately $89.30 a barrel, heightening apprehensions regarding a possible escalation and the risk of disruption to oil supplies along the critical shipping route. China’s manufacturing activity continued to contract for a second consecutive month in August, although the rate of decline showed signs of moderation. The official manufacturing Purchasing Managers’ Index increased to 49.8 from 49.2 in July, yet it continues to fall short of the 50 threshold that delineates expansion from contraction. The reading surpassed the expectations set by economists.
US equities concluded the trading session on Friday with a decline, as Warsh’s address at Jackson Hole reignited apprehensions regarding a potential tightening of monetary policy. The S&P 500 experienced a decrease of 0.25%, settling at 7,711.76, while the Dow Jones Industrial Average saw a minor slip of 0.02%, closing at 53,559.99. The Nasdaq Composite recorded a decline of 0.52%, ending at 26,402.42. The interplay of heightened rate expectations, sustained bond yields, and a resurgence of geopolitical tensions has intensified the strain on global risk assets. Markets will now focus on the forthcoming US employment and inflation data for additional insights into the Federal Reserve’s policy trajectory.
Domestic Market:
Key equity benchmarks experienced a rebound on Friday, breaking a two-session losing streak, as a significant rally in IT stocks mitigated the weakness observed in certain heavyweight banking and consumer-facing stocks. The rally in IT shares was bolstered in part by a more favourable global technology sentiment, following the positive results from Nvidia. Pharmaceutical and metal equities experienced an uptick, whereas fast-moving consumer goods and consumer durable stocks saw a decline. Investor sentiment exhibited a degree of caution in anticipation of Kevin Warsh’s forthcoming speech later today.
Warsh is poised to present his inaugural significant address as chair of the Federal Reserve at the annual economic symposium hosted by the Kansas City Fed in Jackson Hole, Wyoming. The address is under careful scrutiny for insights regarding the monetary policy trajectory of the US central bank. Firm crude oil prices also impacted sentiment. The S&P BSE Sensex advanced 330.92 points, or 0.43%, to 77,264.51, while the Nifty 50 index gained 84.80 points, or 0.35%, to 24,175.65. In the prior two sessions, the Sensex and Nifty experienced declines of 0.93% and 1%, respectively.
