Stock Market Open Report Today, September 29, 2026: Sensex, Nifty Crash After Lower Open As Oil Continues Climb

Mumbai, Sept 29: Indian markets opened lower on Tuesday, tracking the decline in Asian stocks and continued climb in crude oil prices, and extending Monday’s rout when the Sensex plunged 1,124.02 points, or 1.52 per cent, and the Nifty slipped below 22,800 to a six-month low. The bourses went on to crash, with the Nifty down 0.7% and Sensex down 0.8% as of 9:55 am.

Brent crude was quoted at $106.54 a barrel, up 1.20 per cent, while most Asian indices traded in the red in early deals. Gift Nifty futures had signalled a cautious start, quoted around 22,878 in early trade, well below the underlying index’s Monday close.

In a positive development, US and Iranian officials held separate talks with mediators on Monday as part of a renewed push to end seven months of war, officials from both countries told Reuters. Further discussions are expected to focus on a revised version of the seven-day proposal Iran put forward last week on the sidelines of the United Nations’ General Assembly, according to an official briefed on the negotiations.

The war, which began in late February with US and Israeli strikes on Iran, has twice produced ceasefires that quickly broke down, in April and June. Iran’s seven-day plan envisages an end to hostilities in Iran and Lebanon, the unfreezing of billions of dollars in Iranian assets, an end to sanctions on Iranian oil and the lifting of the US blockade on Iranian ports, in return for the reopening of the Strait of Hormuz, a vital conduit for oil tankers. Any fresh progress towards de-escalation would be closely watched by oil markets after Monday’s sharp price surge

Sensex & Nifty 

At 9:20 am, the BSE Sensex was quoted at 72,372.01, down 399.71 points, or 0.55 per cent, from its previous close of 72,771.72. At 9:22 am, the NSE Nifty traded at 22,666.05, down 114.20 points, or 0.50 per cent, from 22,780.25. Both benchmarks extended Monday’s steep losses, when the Sensex had plunged 1,124.02 points and the Nifty had declined 360.25 points to a six-month low. 

India VIX Ticks Higher 

Volatility ticked higher again, with the India VIX at 13.85, up 1.52 per cent from the previous close of 13.64. The fear gauge has risen for a second straight session as the Strait of Hormuz standoff and elevated global bond yields kept investors on edge. 

Gainers & Losers 

Among Nifty 50 stocks, Dr Reddy’s Laboratories (DRREDDY) led the gainers, rising 1.66 per cent, or Rs 20.30, to a last traded price (LTP) of Rs 1,241.30 from its previous close of Rs 1,221. Cipla (CIPLA) gained 0.98 per cent, or Rs 13.50, to Rs 1,397.20 from Rs 1,383.70, while Sun Pharmaceutical Industries (SUNPHARMA) rose 0.74 per cent, or Rs 13.60, to Rs 1,851.60 from Rs 1,838. Coal India (COALINDIA) added 0.32 per cent, or Rs 1.35, at Rs 423.85 against Rs 422.50, and Apollo Hospitals Enterprise (APOLLOHOSP) edged up 0.21 per cent, or Rs 18.50, to Rs 8,878.50 from Rs 8,860. Pharmaceutical and healthcare names dominated the gainers list, in line with the strength in the Nifty Pharma and Healthcare indices.  

On the losing side, Tata Motors Passenger Vehicles (TMPV) fell the most, down 2.17 per cent, or Rs 6.10, to an LTP of Rs 275.65 from Rs 281.75. HDFC Life Insurance (HDFCLIFE) slipped 1.84 per cent, or Rs 9.80, to Rs 521.80 from Rs 531.60, while Trent (TRENT) declined 1.30 per cent, or Rs 34.10, to Rs 2,591.90 from Rs 2,626. Bajaj Finance (BAJFINANCE) lost 1.22 per cent, or Rs 12, to Rs 973 from Rs 985, and HDFC Bank (HDFCBANK) dropped 1.01 per cent, or Rs 7.25, to Rs 711.80 from Rs 719.05. Financial and auto-linked names featured heavily among the losers, mirroring the declines in the Nifty Financial Services and Nifty Auto indices. 

Broad Market & Sectoral Indices 

The broader market mirrored the weakness in the benchmarks, with most broad indices in the red. The Nifty Next 50 fell 0.49 per cent to 69,966.65 from 70,309.50, the Nifty 100 declined 0.45 per cent to 23,799.30 from 23,906.65, and the Nifty 200 was down 0.42 per cent at 13,216.90 against 13,272.20. The Nifty Smallcap 50 (down 0.10 per cent) and the Nifty Midcap Select (down 0.18 per cent) were the most resilient of the broad indices, while the Nifty SME Emerge was the sole gainer, up 0.07 per cent to 15,035.65 from 15,024.95. 

Among sectoral indices, the Nifty Pharma led the gainers, up 0.78 per cent to 26,969.40 from 26,761.65, followed by the Nifty Healthcare Index, up 0.61 per cent at 16,638.05, and the Nifty500 Healthcare index, up 0.62 per cent at 21,744.95. The Nifty Media fell the most, down 0.71 per cent to 1,528.30 from 1,539.25, while the Nifty Financial Services declined 0.65 per cent to 24,511.95 and the Nifty EV & New Age Automotive index dropped 0.63 per cent to 3,054.55. The Nifty Auto also declined 0.62 per cent to 26,361.25, and the Nifty IT eased 0.53 per cent to 27,937.70, underlining the broad-based nature of the pressure across sectors. 

Asian Markets  

Asian markets were mostly lower on Tuesday morning. Japan’s Nikkei 225 fell 0.87 per cent to 65,307, South Korea’s KOSPI declined 0.26 per cent to 6,872.14 and Hong Kong’s Hang Seng dropped 0.66 per cent to 24,479.59, while Malaysia’s benchmark lost 0.78 per cent and New Zealand’s NZX 50 fell 0.86 per cent to 13,711.12. China’s Shanghai index eased 0.19 per cent to 3,816.22, though Shenzhen bucked the trend, rising 0.28 per cent to 12,894.50, while Australia’s ASX 200 also gained, up 0.06 per cent to 8,684.60. 

Wall Street 

US markets closed lower on Monday. The Nasdaq 100 fell 1.08 per cent to 30,276.81, the NYSE index declined 0.65 per cent to 23,757.31 and the Russell 2000 dropped 0.69 per cent to 2,817.91. The utilities index also slipped 0.58 per cent to 1,004.50, while the transportation index was little changed, up 0.05 per cent at 19,582.54. 

Crude Oil 

Crude oil prices held their gains from Monday’s surge. Brent crude was quoted at USD 106.54 a barrel, up 1.20 per cent, while West Texas Intermediate rose 1.09 per cent to USD 93.61, according to delayed quotes. The OPEC basket, on a three-day delay, fell 1.53 per cent to USD 112.78, even as the broader complex stayed elevated on the Strait of Hormuz standoff. Higher oil prices are a particular concern for India, the world’s third-largest crude importer, as a prolonged rise in energy costs could widen the import bill, add to inflation and squeeze corporate profit margins. 

Indian Markets on Monday 

The Sensex had plunged 1,124.02 points, or 1.52 per cent, to 72,771.72 on Monday, while the Nifty declined 360.25 points, or 1.56 per cent, to 22,780.25, with both benchmarks ending near six-month lows. Market breadth was sharply negative, with 1,214 shares advancing, 2,905 declining and 166 unchanged. Every sectoral index had ended in the red, with the Nifty PSU Bank index falling around 3 per cent and the Telecom index shedding 2 per cent, while the Energy, Infrastructure, FMCG, Realty, Private Bank, Metal and Oil & Gas indices declined more than 1 per cent each. The Nifty Midcap index had fallen 1.7 per cent and the Smallcap index 1.8 per cent, extending the sell-off well beyond large-cap stocks. 

Source

• NSE
• BSE
• OilPrice.com