Stock Market Open Report Today, September 7, 2026: Markets Decline as Oil Prices, Fed Fears Weigh

Mumbai, Sept 7: Indian equity indices declined on Monday as Iran-US conflict intensified and crude oil prices rose on fears of supply disruption. Also, traders feared the US central bank or Federal Reserve (Fed) could raise rates after a stronger than expected US jobs report. This also led to a decline in IT stocks. Sensex traded at 76,316.72, down 198.71 points or 0.26% and Nifty 50 fell to 23,837.95, down 59.75 points or 0.25% at 09:35AM. In the precious session, both
benchmarks had snapped their four-session losing streak.

Iranian officials warned of a “faster, heavier and more painful” retaliation in case of any further attack by the US and Israel on Saturday. Iran also announced plans to establish a new restricted maritime zone near Strait of Hormuz through which around 20% of global crude oil supplies pass, Reuters reported, adding that the vessel entering the zone would be sanctioned. Meanwhile, tit-for-tat strikes between the US and Iran resumed over the weekend as Iranian Revolutionary Guard Corps fired ballistic missiles towards two US Navy ships and CENTCOM said it has bombed three Iranian tankers.

Iranian threats to oil route coming off the boil during the weekend sent oil prices upwards on Monday triggering concerns over crude imports and subsequently rise in input costs for India which imports over 80% of its oil requirement. Indian markets also weren’t spared by what happened on Wall Street last Friday as markets ended broadly lower tracking fall in US benchmarks after a stronger-than-expected jobs data lifted concerns that the Federal Reserve may be forced to keep interest rates higher for longer than anticipated which typically leads to capital outflows from emerging markets such as India as foreign investors seek higher yields in developed markets.

Top losers and gainers  

Eternal (ETERNAL) was the top gainer among the Nifty 50 index pack surging 0.65% to LTP of Rs 324.85 from its previous close of Rs 322.75. Bharti Airtel (BHARTIARTL) edged up 0.63% to Rs 1,851.50 versus prior close of Rs 1,840, Apollo Hospitals Enterprises (APOLLOHOSP) rose 0.54% to Rs 8,697 from Rs 8,650, Bajaj Finance (BAJFINANCE) also climbed 0.54% to Rs 1,066.20 against a previous close of Rs 1,060.50 and Coal India (COALINDIA) gained 0.45% to Rs 417.20 from Rs 415.35.  

On the flipside, Infosys (INFY) was the top loser amongst the Nifty pack plummeting 1.97% to Rs 1,107.70 from a previous close of Rs 1,130, followed by Tech Mahindra (TECHM) down 1.43% to Rs 1,574.10 versus Rs 1,596.90, Bajaj Auto (BAJAJ- AUTO) declined 1.38% to Rs 11,754 from Rs 11,919, Jio Financial Services (JIOFIN) slipped 1.06% to Rs 236.95 against Rs 239.50 and UltraTech Cement (ULTRACEMCO) also dipped 1.06% to Rs 11,287 from Rs 11,408 previously.  

Broad Markets and Sectors  

The breadth across broader markets remained overwhelmingly negative Monday morning trade with exception of Nifty Microcap 250 which edged up 0.37%, while Nifty Smallcap 500 (-0.01%) and Nifty Midcap Select (-0.05%) remained the most resilient indices among the decliners. On the flipside, Nifty Bank (-0.27%), Nifty Smallcap 50 (-0.27%) and Nifty Next 50 (-0.26%) lead the declines among broader indices. Among sectoral indices, Nifty Chemicals (+0.11%), Nifty Pharma (+0.09%) and Nifty Healthcare Index (+0.06%) were the only three sectors trading in green providing some defensive cushion to a broad market sell-off and Nifty Media (-2.50%), Nifty IT (-1.17%) and Nifty Metal (-0.71%) were the top sectoral losers Monday morning as investors dump rate-sensitive and globally-exposed stocks.  

Iran-US Conflict  

Iran said it will step up efforts to counter the “illegitimate” US sanctions as they continue to hamper the country’s economy. However, any further attack by the US or Israel will be met with “faster, heavier and more painful” response, an Iranian official warned on Saturday. The US-Iran conflict escalated again over the weekend with tit-for-tat strikes happening between the two countries as Iranian Revolutionary Guard Corps fired ballistic missiles towards two US Navy vessels Friday which was followed by US Central Command saying it bombed three Iranian tankers stationed in Syria. Iran on Sunday also announced plans to unveil a new restricted maritime zone near Strait of Hormuz through which about fifth of global crude oil supplies used to pass, Reuters reported, warning that any vessel entering its territorial waters off the area would be sanctioned by Iran. The six-month long conflict between Iran and US saw a ceasefire come into effect in June however has since collapsed and left diplomatic efforts unsuccessful.  

Asian Shares & Wall Street 

Asian markets traded mixed on Monday morning with Japan’s Nikkei 225 rallying 2.21% while Thailand’s SET added 1.18%. Meanwhile, Hong Kong’s Hang Seng lost 0.91% while mainland China’s Shanghai Composite dipped marginally. On Friday, US markets ended lower tracking weaker cues from Wall Street as Dow Jones fell 0.51%, S& P 500 declined 0.38% and Nasdaq dropped 0.29% amid stronger-than-expected jobs data which raised concerns over Fed keeping rates higher for longer amidst rising Treasury yields and crude oil prices following escalation in Iran-US conflict.  

Oil Prices  

WTI Crude rose 0.66% to $92.08 a barrel and Brent Crude traded higher by 0.58% at $96.84. Murban Crude declined 1.36% to $103.30 and Natural Gas eased 1.82% to $2.921 on Monday. The rally in crude oil prices came as tensions between US and Iran spiked on fears of supply disruption through Strait of Hormuz after Iran announced plans for a new restricted maritime zone near the area.  

Last Close of Indian Markets  

Indian markets snapped a four-session losing streak on Friday as the Sensex rose 362.57 points or 0.48% to close at 76,515.43 and Nifty 50 climbed 24.25 points or 0.10% to settle at 23,897.70. Sectorally, Nifty Metal index jumped over 1% leading the pack while private banking and oil & gas stocks supported benchmarks on Friday. However, Nifty Auto, IT, PSU Bank, Pharma and Realty indices fell around 0.5% each capping the overall advance and keeping Nifty away from reclaiming 24,000 mark.  

Sources

•  BSE
• NSE