Stock Market Open Report, August 28, 2026: Nifty Flatlines, Sensex Edges Up as Oil Eases On Hormuz Talks

Mumbai, Aug 28: Mumbai, Aug 28: Nifty flatlined and Sensex edged higher after the Indian equity benchmarks opened higher on Friday, as oil eased amid progress in efforts to reopen the Strait of Hormuz, with Tehran agreeing to draw up a list of conditions to restore normal shipping traffic after a Qatari emissary pressed Iranian officials to respect freedom of navigation. Qatar’s prime minister met senior Iranian leaders in Tehran on Thursday and underscored the importance of respecting freedom of navigation in accordance with international law, a mission that appears to have nudged Iran toward formalising its reopening terms. That progress, alongside continued easing in crude oil prices, is providing some cushion for Indian markets even as they attempt to stabilise after two straight sessions of losses.

Even so, investors stayed cautious ahead of the Jackson Hole Symposium, where Federal Reserve Chair Kevin Warsh is set to deliver a closely watched keynote later on Friday at the Fed’s annual Wyoming gathering, themed “Financial Innovation: Implications for Payments and Policy.” Markets are trying to gauge what he might signal on policy, since Warsh, who took charge in May, has so far placed far greater emphasis on market direction than on traditional Fed cues, making his remarks harder to predict than those of his predecessors.

Sensex 

The BSE Sensex was trading at 77,068.10, up 134.51 points, or 0.17 per cent, as of 9:20 am on Friday. The NSE Nifty 50 stood at 24,109.95, up 19.10 points, or 0.08 per cent, at the same time. Both benchmarks seemed to show caution.

Gainers and Losers 

Among Nifty 50 constituents, Tech Mahindra (TECHM) led gainers, up 2.56 per cent to Rs 1,625.60 from Rs 1,585, followed by Infosys (INFY), up 2.02 per cent to Rs 1,133.20 from Rs 1,110.80, TCS (TCS), up 1.85 per cent to Rs 2,290.10 from Rs 2,248.40, HCLTech (HCLTECH), up 1.73 per cent to Rs 1,304.20 from Rs 1,282, and Wipro (WIPRO), up 1.47 per cent to Rs 178.99 from Rs 176.40.  

On the losing side, Bajaj Finance (BAJFINANCE) fell 1.33 per cent to Rs 1,068.60 from Rs 1,083, Adani Enterprises (ADANIENT) declined 0.97 per cent to Rs 3,138.20 from Rs 3,169, Bajaj Finserv (BAJAJFINSV) slipped 0.77 per cent to Rs 1,995.50 from Rs 2,011, UltraTech Cement (ULTRACEMCO) eased 0.69 per cent to Rs 11,636 from Rs 11,717, and SBI Life (SBILIFE) dipped 0.55 per cent to Rs 1,763.40 from Rs 1,773.20. 

Broad Market and Sectoral Indices 

Among broad market gauges, the Nifty 50 was up 0.09 per cent and Nifty Midcap Select gained 0.11 per cent, while Nifty Next 50 slipped 0.18 per cent and Nifty Bank eased 0.17 per cent, with Nifty Financial Services the weakest, down 0.29 per cent.  

Sectoral indices were similarly mixed, with Nifty IT the standout gainer, up 1.92 per cent, followed by Nifty Metal, up 0.51 per cent, and Nifty Media, up 0.48 per cent, while Nifty Cement led the laggards, down 0.44 per cent, and Nifty FMCG and Nifty Private Bank both slipped 0.25 per cent. 

Asian Markets 

Asian markets extended gains into Friday morning, with Japan’s Nikkei 225 jumping 0.83 per cent to 66,682.88 and Indonesia’s JSX Composite surging 1.81 per cent to 6,521.75. Hong Kong’s Hang Seng added 0.13 per cent and China’s Shanghai Composite edged up 0.15 per cent, while Malaysia’s FTSE Bursa Malaysia KLCI bucked the trend, down 0.81 per cent. 

US Markets 

US markets ended broadly higher on Thursday, powered by a sharp rally in technology stocks after Nvidia’s stronger-than-expected earnings. The Nasdaq Composite jumped 1.57 per cent to 26,541.35, the S&P 500 added 0.72 per cent to 7,730.99, and the Dow rose 0.20 per cent to 53,569.44. The NYSE Composite, a broader gauge, slipped 0.38 per cent, underscoring how narrowly concentrated Thursday’s rally was in large technology names. 

Oil Prices 

Brent crude was trading near $89.54 a barrel, down about 0.18 per cent, while WTI slipped 0.22 per cent to $83.35, holding relatively steady after recent volatility. Murban crude, the Abu Dhabi benchmark, fell a sharper 0.79 per cent to $93.03, while the OPEC Basket dropped 4.31 per cent to $86.39, reflecting mixed signals across crude grades. Softer oil prices continue to offer relief to India, one of the world’s largest crude importers, easing inflationary pressure and supporting the external balance. 

Iran War 

Iran war mediators placed renewed emphasis on reopening the Strait of Hormuz, with Tehran agreeing to draw up a list of conditions to restore normal shipping traffic after Qatar’s prime minister pressed Iranian officials to respect freedom of navigation. Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said Iran had agreed with Oman on a shipping corridor through the strait, with ships to use a designated central channel if the US met Iran’s conditions. US military commanders said American forces have cleared sea mines laid by Iran’s Revolutionary Guards, with Admiral Brad Cooper of Central Command saying shipping lanes are open and momentum is building. Even so, ship tracking services estimate traffic through the strait remains at just 5 to 15 per cent of normal volumes, with the UN’s International Maritime Organization reporting 70 incidents that have killed 19 seafarers. 

How Indian Markets Ended on Thursday 

Indian benchmarks ended lower for a second consecutive session on Thursday, with the Sensex falling 539.35 points, or 0.70 per cent, to 76,933.59 and the Nifty 50 declining 116.90 points, or 0.48 per cent, to 24,090.85, as broad-based selling in metals, oil and gas, auto and FMCG stocks outweighed gains in pharma and consumer durables. Hindalco Industries was among the biggest losers in metals, while Mahindra & Mahindra led declines among autos, as investors stayed cautious amid global growth and commodity-market concerns. Market breadth stayed weak, with 2,392 stocks declining against 1,736 advancing on the NSE. Pharma and consumer durables bucked the trend, both sectoral indices rising nearly one per cent as investors rotated toward more defensive, resilient stocks. 

Source

• NSE
• BSE
• OilPrice.com