Global Markets Today, September 17, 2026: Asian Shares Mixed, Wall Street Futures Rise After Fed Hike, Oil Flat; India May Get Muted Start

Mumbai, September 17: Indian equity benchmarks are likely to see a muted start on Thursday as mixed Asian markets, a rise in US stock futures and flatlining crude oil prices offered some relief after the US Federal Reserve raised interest rates and signalled the possibility of another hike this year. 

Investors are likely to remain cautious after the Fed delivered its first rate increase in more than three years and indicated that monetary policy could tighten further to contain persistent inflation. 

Asian Markets Mixed 

Asian equities were mixed in early trade on Thursday as investors assessed the implications of the Fed’s hawkish policy signal. The MSCI Asia-Pacific index excluding Japan edged down 0.01%, while Japan’s Nikkei edged up 0.07%. Hong Kong’s Hang Seng index fell 1% while South Korea’s Kospi gained 0.2%. 

The Fed raised its policy rate by 25 basis points in a unanimous decision, while its updated projections indicated that 16 of 18 policymakers expected at least one more 25-basis-point increase by the end of the year. Some see the possibility of another move as early as October. 

The dollar strengthened following the decision, with the greenback touching a seven-week high against major currencies. The rise in US short-term yields and the prospect of further rate increases could keep emerging-market assets under pressure, including Indian equities, as higher US rates can make dollar-denominated assets relatively more attractive. 

Wall Street, US Futures 

Wall Street ended lower on Wednesday after initially gaining, as investors digested the Fed’s rate decision and guidance for further tightening. The Dow Jones Industrial Average fell 1.2%, while the S&P 500 declined 0.4% and the Nasdaq Composite lost 0.01%. 

US stock futures, however, rose in Asian trading. Nasdaq futures rose 0.6% and S&P 500 futures gained 0.5%, providing some support to risk sentiment ahead of the Indian market open. 

Oil Prices Flat 

Crude oil prices flatlined after reports that Saudi Arabia was offering additional crude cargoes through Oman, helping reduce some concerns over supply disruptions caused by the conflict in the Middle East. 

Brent crude futures were last flatlining at $105.8 a barrel after settling 2.7% lower in the previous session. However, oil remains elevated above $100 a barrel, with restrictions around the Strait of Hormuz and continuing geopolitical tensions keeping supply risks firmly in focus. 

For India, elevated crude prices remain a key concern because the country is heavily dependent on imported oil. Higher energy costs can add to inflationary pressures, affect corporate margins and weigh on the rupee. 

Indian Markets In Focus 

Against this backdrop, Indian equities could open largely flat, with domestic investors likely to weigh the marginally positive Asian and US futures cues against the Fed’s hawkish stance and still-elevated crude prices. 

The NSE’s IPO will also be closely watched as the exchange’s public issue opens for subscription on Thursday. The IPO has already attracted substantial anchor participation, potentially diverting some liquidity and investor attention from the secondary market. 

Overall, the opening cues remain mixed: softer oil and firmer US futures provide some support, while higher US rates, a stronger dollar and geopolitical risks could limit gains. Traders are therefore likely to focus on global bond yields, crude prices and the rupee alongside sector-specific developments during Thursday’s session. 

Source

•  Exchanges