Indian equity markets opened under pressure on Thursday, September 24, 2026, as investors tracked a combination of elevated crude oil prices, surging US Treasury yields, and mixed global cues. GIFT Nifty indicated a cautious-to-weak start for the domestic benchmarks.
GIFT Nifty and Early Trade
GIFT Nifty was trading lower by around 130–190 points (approximately 0.57–0.8%) in early hours, signalling a gap-down opening for the Nifty 50. In the previous session (September 23), the Nifty had closed higher at 23,446.80 (up 117.80 points or 0.50%), while the Sensex ended at 74,828.25 (up 299.17 points or 0.40%).
Early trade on September 24 saw the Sensex down over 550–650 points and the Nifty slipping below 23,250–23,300 levels, with broad market breadth turning negative.
US Treasury Yields: The US 10-year Treasury yield climbed to around 5.10–5.11%, its highest level since 2007 (a 19-year high). The 2-year yield also rose sharply. Higher yields increase the attractiveness of bonds relative to equities and raise concerns about “higher-for-longer” interest rates from the US Federal Reserve.
Crude Oil Prices: Brent crude remained elevated above $100–$102 per barrel after recent volatility linked to geopolitical developments. WTI traded near $91–$92. Elevated oil prices raise concerns about inflation and the current account for oil-importing India.
Global Markets: Wall Street closed lower in the previous session amid the yield surge and geopolitical commentary. Asian markets opened mixed, with Japan’s Nikkei gaining while some regional indices faced pressure.
Investors also monitored foreign institutional investor (FII) flows, which had turned positive in the prior session, and sector-specific developments. Rate-sensitive and financial stocks faced particular scrutiny amid the yield environment.
Analysts noted that as long as crude stays elevated and US yields remain firm, near-term recovery in Indian equities could remain constrained. Support levels for the Nifty were watched around 23,200–23,300, with resistance near recent highs.
Market participants continued to track developments around US-Iran dynamics, US economic data, and any signals from the Federal Reserve. Volatility is expected to persist until clearer directional cues emerge from global bond and energy markets.