Stock Market Open Report Today, September 9, 2026: Markets Extend Losses As Iran War Sends Oil Racing Towards $100

Mumbai, Sept 9: The Indian equity benchmarks slumped for the third consecutive session in early trade on Wednesday, with Sensex drifting below 75,150 and Nifty tumbling past 23,550 as escalating tensions between Iran and the US sent crude oil prices racing towards $100 per barrel. At 9:40 am, the BSE Sensex traded 456.70 points or 0.60% lower at 75,120.88, while the Nifty 50 dipped 107.50 points or 0.45% to 23,527.60.

What’s aggravating markets this time is fairly straightforward. Iran-backed Houthi rebels in Yemen attacked four cities in Saudi Arabia on Tuesday, wounding 73 people. The US in turn blew up five Iranian oil tankers while Iran responded with a ballistic missile attack on a US military base in Jordan later in the day. For markets spooked by a week of tensions in the Gulf, this is the unpleasant prospect of escalation spreading beyond the US and Iran.  

Oil prices are translating those developments into dollar right now. Brent and WTI are both climbing further into Wednesday’s session now that markets are pricing in a near-term risk of a protracted supply disruption in the Gulf. India, which imports about 85% of its crude oil requirement, is painfully susceptible to those twin threats of skyrocketing fuel prices and a broadening warzone, with the former feeding immediately into pressures on the rupee and inflation while also heightening corporate earnings sensitivity.  

Asian stocks are painting a more mixed picture currently, with Japan’s Nikkei 225 dipping as deep as 1.70% before being propped up by select chip stocks even as most of the rest of Asia – Pakistan 100, Australia 200 – also retreat on oil rate fears. Meanwhile, Indonesian and Vietnamese stocks are bucking the broader downtrend for now. US markets ended sharply lower on Tuesday as Iran-related tensions escalated further, with the Dow Jones down 628.18 points or 1.18%, the S&P 500 losing 0.58% and the Nasdaq Composite dipping 0.32%.

Gainers and Losers 

Among the Nifty 50’s gainers on Wednesday, Max Healthcare (MAXHEALTH) led the pack, rising 3.41% to an LTP of Rs 1,026.90 from its previous close of Rs 993, followed by Coal India (COALINDIA), up 2.8% to Rs 432 versus a prior close of Rs 420.25, Adani Enterprises (ADANIENT), up 1.66% to Rs 3,002 from Rs 2,953.10, Larsen & Toubro (LT), also up 1.66% to Rs 4,011.80 against a previous close of Rs 3,946.10, and NTPC (NTPC), gaining 1.56% to Rs 335.95 from Rs 330.80. On the losing side, Infosys (INFY) was the steepest decliner, falling 3.19% to Rs 1,047.50 from a previous close of Rs 1,082, followed by Tech Mahindra (TECHM), down 3.15% to Rs 1,509.90 versus Rs 1,559, HCL Technologies (HCLTECH), down 2.96% to Rs 1,239.20 from Rs 1,277, Tata Consultancy Services (TCS), down 2.42% to Rs 2,201 against Rs 2,255.50, and Wipro (WIPRO), down 1.84% to Rs 168.35 from a previous close of Rs 171.50. 

Broad Market and Sectoral Indices 

Among broad market indices, breadth stayed weak, with the Nifty Microcap 250 the standout gainer, up 0.03%, alongside the Nifty200 Momentum 30 (+0.14%) and the Nifty Alpha 50 (+0.09%), while the Nifty Financial Services (-0.74%), Nifty Bank (-0.53%) and Nifty 50 (-0.51%) led the declines among the broader gauges. Sectorally, Nifty Metal (+0.42%), Nifty Oil & Gas (+0.14%) and Nifty Healthcare Index (+0.31%) were among the few sectors trading in positive territory, while Nifty IT (-3.03%) was by far the steepest sectoral loser, followed by Nifty Auto (-0.73%) and Nifty Realty (-0.68%).

Middle East War  

The war in the Middle East escalated dramatically on Tuesday with Iran-backed Houthi militants striking four Saudi cities in Yemen, killing 73 people, US forces blowing up five Iranian oil tankers and Iran retaliating with a ballistic missile attack on an American military base in Jordan. Jordan said it intercepted 18 of the 20 missiles fired by Iran but reported no casualties from the Iranian missile attack on al-Tanf military base. Iran also threatened to target oil tankers docked in Kuwait and Bahrain, potentially threatening shipping activity through some of the world’s busiest waterways. Brent crude futures rallied after the Iranian attack on Jordan, adding to earlier gains that have pushed prices to their highest since July 23.  

Asia Stocks Mixed  

Asian markets are trading mixed as Japan’s Nikkei 225 comes under pressure, down as much as 1.7% even as chip stocks prop up broader sentiment while Pakistan’s KSE 100 and Australia’s All Ordinaries 200 retreat on rate and oil concerns. Indonesia’s Jakarta Composite Index and Vietnam’s HNX 30 are bucking the broader trend across the region for now, gaining 1.01% and 0.98% respectively. Investors across Asia look set to trade cautiously until markets reopen in the US later Wednesday, where markets will receive fresh inflation data.  

US Stocks Down  

US markets closed sharply lower on Tuesday after President Joe Biden said Americans should prepare for the possibility of military action against Iran while Iran-backed militants continued striking targets in Saudi Arabia. The Dow Jones Industrial Average dropped 628.18 points, or 1.18%, to close at 52,786.07, the S&P 500 fell 0.58% and the Nasdaq Composite edged down 0.32%.  

Crude Oil Prices Surge Higher  

Brent crude futures rose 1.51% to $99.40 per barrel and WTI crude futures added 1.45% to trade at $94.38 per barrel on Wednesday as geopolitical tensions in the Middle East ramp up further. Murban crude, Dubai crude and the OPEC basket price surged 3.75% to $110.77 per barrel, 1.63% to $75.27 per barrel and 8.76% to $106.26 per barrel, respectively.  

Tuesday’s Wrap: Sensex, Nifty Down  

Indian equity benchmarks Sensex and Nifty pared some losses in the late morning on Tuesday but remained in negative territory, dragged by financial stocks after rising crude oil prices continued to stoke fears of rate hikes. At its intra-day low, the Sensex was down 587 points or 0.78% while the Nifty 50 fell 162 points or 0.68%. The Sensex settled 555.23 points or 0.73% lower at 75,577.58, while the Nifty 50 ended at 23,635.10, down 144.05 points or 0.61%, marking a second consecutive session at its six-week lows. Nifty Private Bank index declined 1%, while ICICI Bank, Axis Bank and SBI Life Insurance were among the top losers on the Nifty 50. Nifty Oil & Gas index ended lower by 0.67% and Nifty IT index down 0.37%. Media, pharma and FMCG stocks bucked the trend to limit losses on the Nifty 50 index.  

Source

• BSE
• NSE