Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex rises over 200 pts, Nifty above 23,100; Trent, SBI top gainers

JAKARTA, 25 SEPTEMBER 2026 —

Indian equity markets extended their opening losses into a broad-based sell-off on Thursday, with the benchmark NSE Nifty 50 breaking below key support levels at 23,300 and 23,200 to close at 23,063.10.

This downturn followed a session where selling intensified across sectors, particularly in banks and non-banking financial companies, as profit booking accelerated amid weak global cues.

The decline was driven by a confluence of factors, including rising US bond yields, surging crude oil prices, and heavy selling by foreign portfolio investors. The US 10-year Treasury yield climbed to its highest level since 2007, crossing the 5.1% mark, while the 30-year yield hit 5.44%, levels not seen in nearly two decades. These elevated risk-free returns prompted capital flows away from equities, with emerging markets taking the initial hit.

Simultaneously, crude oil prices surged, with Brent crude reaching $105 a barrel, eroding the diplomatic optimism that had previously driven prices below $100.

Rajesh Agarwal of AUM Capital noted that the Indian benchmark indices ended sharply lower on September 24, amid these weak global cues. He observed that after a weak opening, selling intensified through the session, with profit booking seen across sectors. All sectoral indices ended in the red, with the Sensex settling 1,247.71 points, or 1.67%, lower at 73,580.54.

There were no gainers on the BSE, while Bajaj Finance fell 5.47%, Axis Bank dropped 4.67%, and Bajaj Finserv declined 4.06%, leading the list of top losers.

Technical analysts indicated that the short-term structure for Indian benchmarks has turned decisively negative. Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited, stated that the index broke below previous seven-day lows on rising volume and closed below the June 2026 swing-low zone of 23,070. The index also failed to hold above the 23,300 level, which had earlier acted as strong support.

Based on the current technical pattern, Tailor suggested that the index looks weak, and further selling appears likely in the coming days. Immediate support is seen at 23,000–22,800, while resistance is placed at 23,220/23,340.

Domestic inflation data released on Thursday added to the bearish sentiment, presenting an uncomfortable read for investors. Wholesale inflation surged to 9.92%, while retail inflation rose to 4.82%, the highest since December 2024. The energy shock is no longer a threat on the horizon but is fully embedded in India’s price indices.

Consequently, any remaining expectation of a Reserve Bank of India rate cut can now be set aside, as the inflationary pressure from higher energy costs continues to weigh on economic policy flexibility.

Regulatory developments also contributed to the market’s volatility. The Insurance Regulatory and Development Authority of India proposed sweeping changes to insurance distribution commissions, which led to a sharp fall in PB Fintech and the broader insurance distribution space. Sarvam Goel, Founder of Pocketful, described the situation as a "four-front problem," where the market priced in all issues at once.

He highlighted that regulatory risk arriving on top of macro stress is the worst possible timing for the sector, exacerbating the broader market downturn.

Global market cues remained mixed, with Asian markets showing varied performance. Around 9 a.m., the GIFT NIFTY was up 0.04%, the Nikkei 225 rose 1.13%, and the Straits Times Index gained 0.09%. In contrast, the Hang Seng Index fell 1.98%, the SET Composite rose 0.39%, the Jakarta Composite dropped 0.17%, and the Shanghai Composite declined 1.24%. In the US, S&P 500 futures were little changed as of 11:50 a.m.

Tokyo time, while Japan’s Topix rose 1.2% and Australia’s S&P/ASX 200 fell 0.6%. Euro Stoxx 50 futures rose 0.5%, indicating a mixed global sentiment that did little to bolster Indian equities.

The rupee also faced pressure, reflecting the broader macroeconomic stress. In early trade on Friday, the rupee went up 14 paise to reach 95.85 against the US dollar. However, on Thursday, the rupee tumbled by 26 paise to settle at 95.99 against the US dollar at close.

Heavy selling by equity investors, a stronger dollar, higher bond yields in the US, and the rise in crude oil prices eroded the currency’s value, adding another layer of complexity for domestic investors and importers.

Crude oil prices crept down on Friday as markets looked forward to the possibility of a truce between the US and Iran, even as they remained wary of attacks. Reuters reported that Brent crude was down 87 cents, or 0.82%, and reached $105.73 a barrel, while West Texas Intermediate was down $1.56, or 1.65%, and stood at $93.05 a barrel.

Despite this slight dip, the overall trend remained elevated, keeping pressure on inflation and consumer spending. The diplomatic optimism that had driven Brent below $100 three days ago has faded, reminding markets that hope and resolution are two very different things.

In early trade on Friday, the prominent gainers in the Sensex 30 basket were M&M, LT, ICICIBANK, BAJFINANCE, and AXISBANK, while the prominent laggards were SUNPHARMA, HCLTECH, TECHM, TCS, and INFY. The Sensex 30 was trading at 73,671.57, up 0.12% or 91.03 points, while the Nifty 50 was at 23,084.00, up 0.091% or 20.90 points.

In the first few minutes, both benchmark indices were seen extending their gains, suggesting a tentative recovery attempt after the previous day’s sharp fall.

Analysts expect Indian markets to remain volatile and downbeat due to heavy selling by foreign portfolio investors. The U.S. 10-year Treasury yield has moved above 5.20% and remains near multi-year highs, increasing pressure on global financial conditions and reducing the relative attractiveness of emerging-market equities. The rise in global yields continues to impact capital flows, with investors seeking safer havens in the face of economic uncertainty.

This environment poses significant challenges for Indian equities, which must contend with both external pressures and internal structural issues.

The market’s reaction to these multiple stressors highlights the fragility of investor sentiment. The combination of high inflation, regulatory changes, and global macroeconomic headwinds creates a difficult landscape for equity investors. As the US 10-year Treasury yield remains elevated, the pressure on global financial conditions is likely to persist, affecting emerging markets disproportionately.

Indian markets, already under pressure from domestic factors, face an additional burden from these global trends, making the outlook for the near term cautious.

The technical picture remains vulnerable, with the index looking weak and further selling appearing likely. Immediate support levels at 23,000–22,800 are critical, and a break below these levels could lead to further declines. Resistance at 23,220/23,340 will need to be overcome for any sustained recovery. The market’s ability to stabilize will depend on how quickly global yields can be brought down and how domestic inflation trends evolve.

Until then, volatility is expected to remain high, with investors closely monitoring both global and domestic developments.

The rupee’s performance also reflects the broader economic stress, with the currency settling at 95.99 against the US dollar on Thursday. The combination of heavy equity selling, a stronger dollar, and higher bond yields has eroded the rupee’s value, adding to the challenges faced by the Indian economy. As global financial conditions tighten, the pressure on emerging markets like India is likely to continue, requiring careful navigation by policymakers and investors alike.

The market’s response to these factors will be a key indicator of its resilience in the coming weeks.

In summary, the Indian equity markets faced a challenging session on Thursday, with the Nifty 50 closing at 23,063.10, down 1.64%. The decline was driven by rising US bond yields, higher crude prices, and heavy FII selling, compounded by domestic inflation data and regulatory changes. Technical analysts indicate a weak short-term structure, with further selling likely. Global market cues remain mixed, and the rupee continues to face pressure.

As investors navigate this complex environment, the focus remains on how these multiple stressors will impact market sentiment and performance in the near term.