Nifty rises 0.29% to 23,414.30 as oil dip halts six-week selloff

KUALA LUMPUR, 22 SEPTEMBER 2026 —

India’s benchmark Nifty 50 index climbed 0.29% to 23,414.30 on Monday, snapping a six-week losing streak—the longest in six years—while the BSE Sensex advanced 0.76% to 74,858.99, according to exchange data.

The rebound came as crude oil prices retreated from 11-day highs, easing supply disruption fears, though broader small-cap and mid-cap indices slipped 0.1% and 0.3%, respectively.

The rally, though limited, marked the first positive session in six weeks, with 12 of 16 major sectors advancing. The rupee settled at 95.81 per US dollar, supported by lower oil prices but constrained by persistent importer hedging demand.

Oil price relief drives market turnaround Crude futures fell to their lowest in 11 days as Saudi Arabia’s partial recovery in shipments—via ship-to-ship transfers near the Strait of Hormuz—offset supply concerns from Houthi attacks, according to Bloomberg. Brent crude eased from around $108 to near $102, its first weekly decline in three weeks, offering relief to India, the world’s third-largest oil importer.

For Malaysia, where crude-linked inflation and trade flows remain sensitive to oil volatility, the price dip could ease pressure on the current account and imported inflation. However, Brent remains above $100, keeping geopolitical risks in check.

Corporate and regulatory moves dominate secondary action The National Stock Exchange’s $2.3 billion IPO—fully subscribed on Friday—closed on Monday, while Edelweiss Financial Services launched a ₹3 billion non-convertible debenture (NCD) issue with yields ranging from 8.64% to 10%. The RBI also granted perpetual validity to RNFI Money’s AD-II forex licence, expanding its scope to include trade remittances and Nostro accounts.

Key corporate updates included: - Aimtron Electronics reporting its US subsidiary, Aimtron International Controls LLC, secured $11.8 million in quarterly order bookings—its highest ever. - Federal Bank launching OneTag FASTag Portability, allowing customers to switch issuers without changing physical tags. - Kirloskar Ferrous Industries appointing Ajay Patil as Joint Managing Director for a three-year term.

- SBI Mutual Fund introducing a Nifty200 Value 30 ETF Fund of Funds (FoF) with a ₹5,000 minimum investment, open until September 30.

Market watch: Debt demand signals caution The strong response to Edelweiss’s NCD issue—with yields up to 10%—reflects investor preference for high-yield debt amid cautious equity sentiment. Meanwhile, the rupee’s stability near 95.81 remains critical for importers and exporters, though further gains depend on sustained portfolio inflows and geopolitical stability.

For Malaysian investors tracking Indian markets, Monday’s rebound offers a technical recovery, but broader economic risks—including oil prices and Middle East tensions—will dictate near-term trends. Analysts will watch whether the rally extends beyond crude-linked relief or if geopolitical risks resurface.