Gift Nifty Points to Muted Start on Tuesday as Fresh Houthi Strikes on Saudi Keep Oil and Sentiment on Edge

Mumbai, Sept 15: Indian equity markets look headed for a muted, directionless start on Tuesday, with any early comfort from Gift Nifty capped by a fresh escalation in the Gulf. Yemen’s Houthis launched a new wave of missile and drone attacks on Saudi Arabia overnight, adding to a week of supply disruptions that has kept oil prices elevated. Gift Nifty futures are barely budging, reflecting a market unwilling to commit either way ahead of the open. 

The overnight setup was already fragile before the fresh Houthi strikes. Wall Street closed lower on Monday after an AI industry slowdown warning hit chip stocks hard, while Asian markets are trading mixed on Tuesday morning. Crude’s renewed climb, driven by the Saudi pipeline outage and Strait of Hormuz tensions, adds another layer of pressure heading into the session. 

Domestic cues offer little additional support. The Nifty and Sensex both ended lower on Friday after a volatile session, dragged by selling in metals and realty even as private banks cushioned some of the losses. With crude, Gulf geopolitics and this week’s Fed decision all in play, Tuesday’s open is likely to stay cautious. 

Gift Nifty 

Gift Nifty futures for the September 29 series were trading at 23,521.00, up 9 points or 0.04 per cent, as of 8:18 am IST on Tuesday. That marks a marginal premium over Friday’s Nifty 50 close of 23,398.10, pointing to a flat-to-slightly-positive start for the cash market, even as the broader risk backdrop stays tilted to caution. 

Iran Conflict 

The Houthis are pressing attacks on Saudi Arabia and consolidating control along Yemen’s Red Sea coast, including the western port of Mocha, even as Saudi and Yemeni forces step up retaliatory air strikes. Gulf Arab states have postponed planned talks with Iran, reflecting concern that the conflict could widen further. Riyadh has blamed Iranian-backed militias in Iraq for last week’s drone strike that knocked out its east-west pipeline, a key route bypassing the Strait of Hormuz. Washington has so far resisted Saudi requests for direct military intervention beyond intelligence support, even as Crown Prince Mohammed bin Salman met US regional commander Admiral Brad Cooper in Jeddah. 

Asian Stocks on Tuesday Morning 

Asian markets were mixed on Tuesday morning. Japan’s Nikkei 225 rose 0.93 per cent to 64,082.36, while China’s Shanghai Composite added 0.14 per cent to 3,890.84. Australia’s All Ordinaries fell 0.86 per cent to 8,847.20, and Pakistan’s KSE 100 dropped 1.49 per cent to 167,970.66. Hong Kong’s Hang Seng and Thailand’s SET also slipped, down 0.04 per cent and 0.84 per cent respectively. 

US Markets on Monday 

US markets ended lower on Monday after an AI-slowdown warning triggered heavy selling in chip stocks. The Dow Jones Industrial Average fell 0.29 per cent to 52,421.20, the S&P 500 declined 0.48 per cent to 7,619.98, and the Nasdaq Composite dropped 0.56 per cent to 26,186.41. The NYSE Composite also ended weaker, down 0.52 per cent at 24,205.39. 

Oil prices extended their advance, with Brent crude up 1.44 per cent at $107.20 a barrel and WTI crude up 1.56 per cent at $102.97. The OPEC Basket rose 2.35 per cent to $114.89, while Murban crude jumped 6.95 per cent to $127.76. Crude has now gained roughly 9 per cent over the past week, driven by the Saudi pipeline shutdown and escalating attacks near the Strait of Hormuz. 

Sensex, Nifty on Friday Close 

The Nifty 50 declined 79.70 points, or 0.34 per cent, to close at 23,398.10 on Friday, while the Sensex fell 120.83 points, or 0.16 per cent, to 74,781.76, after a highly volatile session. Metals and realty stocks led the decline, both falling more than 2 per cent, with Hindalco Industries, JSW Steel and Tata Steel among the biggest laggards. Private banks offered some support, with HDFC Bank, Dr Reddy’s Laboratories, ITC, Tech Mahindra and Wipro among the gainers. Market breadth stayed weak, with 1,773 shares advancing against 2,373 declines and 190 unchanged. 

Source

• nseindia.com
• https://www.reuters.com/world/middle-east/houthis-strike-saudi-targets-anew-talks-over-strait-hormuz-stall-2026-09-15/
• https://www.reuters.com/markets/asia/
• https://www.oilprice.com