SGX Nifty September 2026 futures increased by 82.50 points, suggesting a favourable opening for the Nifty 50, in line with robust signals from Asian markets.
The Rs 22,568.94 crore initial public offering of National Stock Exchange of India opens for subscription today and will close on 21 September 2026. The book-built issue represents a complete offer for sale of 12.64 crore shares. The price band has been established at Rs 1,700 to Rs 1,785 per share. Retail investors are permitted to place bids for a minimum of 8 shares, necessitating a minimum investment of Rs 14,280 at the upper limit of the price range. Meanwhile, the US House of Representatives on Wednesday passed a Russia sanctions bill by a vote of 262-159, granting President Donald Trump the authority to impose tariffs of up to 100% on countries purchasing Russian oil and gas, with a direct focus on significant importers like India and China. The bill, which received Senate approval on 7 August 2026, expands sanctions on Russian officials, financial institutions, and vessels associated with Russia’s shadow fleet, while also extending existing sanctions on Iran by five years.
Institutional Flows:
On 16 September 2026, foreign portfolio investors divested shares amounting to Rs 2,032.61 crore, whereas domestic institutional investors recorded net purchases totalling Rs 3,908.23 crore in the Indian equity market, as per provisional data. Foreign Portfolio Investors divested shares amounting to Rs 18,871.85 crore in September up to 16 September 2026. This follows net cash purchases of Rs 17,366 crore in August 2026, while they were net buyers of Rs 6,731.97 crore in July 2026.
Global Markets:
The US Dow Jones futures were up around 310 points on Thursday, indicating a stronger opening for US equities after Wall Street concluded sharply lower in the previous session following the Federal Reserve’s policy decision. The Fed raised interest rates for the first time in three years and indicated that another rate hike could occur before the end of 2026. Asian equities exhibited a predominantly upward trend on Thursday as investors evaluated the implications of the Federal Reserve’s interest rate increase alongside declining crude oil prices. Oil prices softened as indications emerged that Saudi Arabia was taking steps to restore crude flows after damage occurred to its East-West pipeline. Brent crude declined to $105 a barrel in early Asian trading on Thursday, continuing the downward trend observed in the previous session. Reports indicating that Saudi Arabia was coordinating extra crude shipments through Oman alleviated short-term worries regarding potential supply disruptions.
The Saudi East-West pipeline, which serves as an alternative route for transporting crude oil away from the Persian Gulf, sustained damage due to a drone attack originating from Iraq, as reported. Saudi Arabia had closed the pipeline in the wake of the attack, heightening apprehensions regarding additional strain on an already constrained global oil market. The US administration subsequently indicated that operations would resume, thereby alleviating some of the supply-risk premium in crude prices. The increases observed in certain regions of Asia followed a significant decline on Wall Street on Wednesday. The Dow Jones Industrial Average decreased by 631.21 points, representing a decline of 1.21%, settling at 51,461.90. Meanwhile, the S&P 500 experienced a reduction of 0.45%. The Nasdaq Composite exhibited minimal movement, remaining largely unchanged. The Federal Reserve raised its benchmark federal funds target range by 25 basis points to 3.75%-4%, marking its first rate increase since July 2023. The decision underscored the Fed’s apprehension regarding persistently high inflation, even in the context of robust economic performance and favourable labour market dynamics.
Fed Chair Kevin Warsh indicated that inflation levels remain elevated and emphasised that monetary policy will continue to prioritise the mitigation of rising energy prices to avert wider inflationary repercussions. The Fed’s updated projections indicate a further rate increase anticipated in 2026. Sixteen of the 19 officials expressed support for at least one additional increase this year, while the median forecast positioned the policy rate at 4.1% by the end of 2026. The median forecast indicated that the rate is expected to remain at 4.1% in 2027. The central bank has adjusted its inflation outlook, projecting a median forecast for headline PCE inflation at 3.7% for 2026, significantly exceeding its 2% target. Core PCE inflation was projected at 3.4%. Simultaneously, the Federal Reserve adjusted its 2026 GDP growth forecast to 2.3%, with the median unemployment-rate projection set at 4.1%.
Domestic Market:
The primary equity benchmarks concluded the trading session on Wednesday with gains, effectively breaking a two-day decline. Gains were observed subsequent to a stabilisation in crude oil prices and a slight reduction in global bond yields. The Nifty 50 commenced trading at 23,201.60 and faced downward pressure, reaching an intraday low of 23,116.10. The index rebounded from the day’s low as investors engaged in bargain hunting following the significant sell-off in the previous session. It subsequently reached an intraday peak of 23,284.75 before concluding above the 23,200 threshold.
However, gains remained limited as investors exercised caution in anticipation of the US Federal Reserve’s policy decision. FMCG and bank stocks experienced an uptick, whereas IT and pharma shares faced a downturn. The S&P BSE Sensex increased by 332.63 points, representing a rise of 0.45%, reaching a level of 74,336.45. The Nifty 50 index experienced an increase of 99 points, representing a rise of 0.43%, reaching a level of 23,217.60. The Sensex and Nifty experienced declines of 1.20% and 1.53%, respectively, over the prior two trading sessions.
