Gift Nifty Points to Muted-to-Positive Start for Indian Markets as Asian Stocks and Wall Street Advance

Mumbai, Sept 18: Gift Nifty futures for the September 29 contract were trading at 23,342, down 18 points or 0.08 per cent, as of 7:44 am IST on Friday, pointing to a muted-to-positive opening for Indian equity benchmarks. The reading followed a session in which Wall Street closed higher across the board on Thursday, led by a 1.73 per cent rise in the Nasdaq 100, while most Asian markets advanced on Friday morning, led by a 2.01 per cent gain in South Korea’s Kospi. 

Crude oil prices eased from recent highs on Friday morning, with Brent crude down 0.57 per cent to 104.22 dollars a barrel, though prices stayed elevated on continuing conflict in the Middle East. 

The National Stock Exchange of India IPO opened for subscription on September 17, 2026, with the issue receiving bids across investor categories on the first day. The ₹22,561.57 crore IPO is entirely an offer for sale of 12.64 crore shares. The issue will remain open until September 21, 2026. The IPO has also set aside up to 4,33,437 shares for eligible employees at a discount of ₹170 to the issue price. 

In India on Thursday, the Nifty closed at 23,270.60, up 0.23 per cent, while the Sensex slipped 0.03 per cent to 74,314.59, with gains in realty, pharma, auto and metal stocks offsetting weakness in banking shares. 

Gift Nifty 

Gift Nifty futures expiring September 29 were quoted at 23,342, down 18 points or 0.08 per cent, as of 7:44 am IST on Friday, according to the latest available data. The marginal decline from Thursday’s Nifty close of 23,270.60 suggests domestic benchmarks are likely to open on a flat-to-mixed note, with the broader tone still tilted toward stability rather than a sharp move in either direction. 

Iran War 

According to Reuters, Saudi Arabia and Yemen’s Houthis exchanged strikes along their border on Thursday, with Houthi television reporting Saudi airstrikes in Hajjah and near Taiz, while Saudi authorities confirmed their first fatality from the fighting after more than 80 people were wounded in recent days. Iran’s Revolutionary Guards said a Togo-flagged tanker caught fire in the Strait of Hormuz after attempting an “illegal passage,” adding to the disruption of global crude routes. US President Donald Trump has so far declined Saudi requests for military support against the Houthis but said he is close to a decision on whether to resume large-scale strikes on Iran. China has privately urged Tehran to rein in the Houthis after a Saudi appeal, as Beijing looks to protect energy routes central to its own economy. 

Asian Markets 

Most Asian markets advanced on Friday morning, led by South Korea’s Kospi, which jumped 2.01 per cent to 6,850.25. Hong Kong’s Hang Seng rose 0.81 per cent to 24,803.6, while Taiwan’s benchmark climbed 1.02 per cent and Japan’s Nikkei added 0.74 per cent. Mainland Chinese indices also gained, with the Shanghai Composite and Shenzhen Component both up around 0.8 per cent, and Australia’s ASX 200 rose 0.15 per cent. Not every market joined the advance: Singapore’s Straits Times Index slipped 0.34 per cent and New Zealand’s NZX 50 fell 0.66 per cent. 

US Markets 

Wall Street closed higher across the board on Thursday, with the Nasdaq 100 leading gains, up 1.73 per cent to 29,446.98. The NYSE Composite added 0.65 per cent to 24,089.55, while the Russell 2000 and Dow Jones Transportation indices both rose around 0.55 per cent. Utility stocks also advanced, gaining 0.91 per cent, reflecting broad-based buying across sectors. 

Oil Prices 

Crude oil prices eased on Friday morning but stayed at elevated levels, with WTI crude down 0.39 per cent to 101.51 dollars a barrel and Brent crude down 0.57 per cent to 104.22 dollars. Murban crude fell the most among benchmarks, down 1.95 per cent to 121.39 dollars, while the OPEC basket eased 0.47 per cent to 124.04 dollars. Natural gas slipped 1.62 per cent to 2.854 dollars, and refined products including gasoline and heating oil also traded lower. Prices remain well above pre-conflict levels as the fighting between Saudi Arabia and Yemen’s Houthis, and repeated attacks near the Strait of Hormuz, continue to threaten key crude-export routes. 

Sensex, Nifty Close (Thursday) 

Indian equity benchmarks ended mixed on Thursday, with the Nifty gaining 53 points, or 0.23 per cent, to close at 23,270.60, while the Sensex slipped 21.86 points, or 0.03 per cent, to 74,314.59. Market breadth stayed positive, with 2,480 stocks advancing against 1,487 declines, and the broader market outperformed the headline indices as the Nifty Midcap 100 rose 0.9 per cent and the Smallcap 100 gained 0.8 per cent. Realty and pharma led sectoral gains, both up more than 1.5 per cent, while auto and metal indices climbed around 1 per cent each; banking stocks bucked the trend and closed lower. Tata group stocks were among the standout movers, rising between 2.3 per cent and 5.5 per cent after Tata Sons’ board reportedly approved a new five-year term for N Chandrasekaran as executive chairman. 

Source

•  nseindia.com