Closing Bell: Nifty 50 Ends Higher for 4th Day as Crude Oil Prices Ease

Market Update at 04:00 PM: The Indian benchmark equity indices, Sensex and Nifty 50, closed higher on Monday, September 21, aided by bargain-buying following recent losses. Easing crude oil prices provided some relief, while U.S.-Iran tensions and heightened primary-market activity limited the gains.

The Nifty 50 opened at 23,330.20 and initially slipped to an Intraday low of 23,314.80 before recovering steadily through the session. The index moved above the 23,400 mark around midday and extended its gains in the afternoon to hit an intraday high of 23,466.80. It later eased from the day's high but remained firmly in positive territory, reflecting a gradual recovery after early weakness.

At close, the Nifty 50 settled at 23,414.30, up 67.90 points or 0.29 per cent, extending its gains for the fourth consecutive trading session. The Sensex surged 564.03 points to close at 74,858.99. Meanwhile, Bank Nifty underperformed the benchmark indices, ending 0.02 per cent higher. The India VIX, a gauge of market volatility, declined nearly 1 per cent to around the 11.3 mark.

Tensions between Iran and the U.S. remained in focus after President Donald Trump warned that Iran could face severe economic consequences or a leadership change if it failed to reach a deal, while Iran's military threatened strong retaliation.

Meanwhile, Brent crude futures eased 2.1 per cent to USD 101.7 per barrel amid hopes of a recovery in shipments from Saudi Arabia. The decline in crude prices provided some relief to markets concerned about elevated oil prices and their impact on inflation and corporate costs.

Investors are also tracking the National Stock Exchange of India's USD 2.3 billion IPO, which is scheduled to close on Monday after being fully subscribed on Friday.

The broader market remained under pressure despite gains in the benchmark indices. The Nifty Midcap 100 index ended 0.29 per cent lower, while the Nifty Smallcap 100 index declined 0.07 per cent.

On the sectoral front, eight of the 11 key sectoral indices ended in positive territory. The Nifty Pharma index gained 0.16 per cent, extending its gains for the third consecutive trading session, with 13 of its 20 constituents ending in positive territory.

On the other hand, the Nifty Metal index witnessed selling pressure, declining 0.61 per cent. The index snapped a three-day winning streak, with nine of its 15 constituents ending in negative territory.

Among individual stocks, refrigerant gas maker Refex Industries advanced 4 per cent after securing an order worth USD 167 million.

Welspun Corp gained 5 per cent after its subsidiary, East Pipes Integrated Company, won an order from Saudi Aramco worth approximately USD 209 million.

The key contributors to the Nifty 50's gains were Reliance Industries, which contributed 30.59 points, HDFC Bank with 28.37 points and Eternal with 14.32 points.

On the other hand, Bharti Airtel weighed on the index with a negative contribution of 42.78 points, followed by Bajaj Finance at -11.24 points and Infosys at -9.92 points.

As of September 21, 2026, market breadth remained mixed, with declining stocks marginally outnumbering advancing stocks. Out of 3,705 stocks traded on the NSE, 1,735 advanced, 1,858 declined and 112 remained unchanged.

A total of 125 stocks touched their 52-week highs, while 103 stocks hit their 52-week lows. Additionally, 182 stocks were locked in their Upper Circuits, whereas 86 stocks were locked in Lower Circuits.

Market Update at 2:15 PM: Indian equity benchmarks traded higher on Monday, supported by a decline in oil prices, which eased concerns over inflation and the growth outlook.

As of 2:00 PM, the Sensex rose 630.47 points, or 0.85 per cent, to 74,925.43, while the Nifty 50 gained 84.20 points, or 0.36 per cent, to 23,430.90.

HDFC Life Insurance Company, Sun Pharmaceutical Industries and Dr. Reddy's Laboratories were the Top Gainers in the Nifty 50 index.

In the broader markets, the Nifty MidCap index declined 0.27 per cent, while the Nifty SmallCap index fell 0.04 per cent.

Among sectors, Nifty Realty, Nifty Pharma and Nifty FMCG outperformed, while Nifty IT, Nifty Metal and Nifty PSU Bank underperformed.

Market Update at 01:15 PM: The Nifty 50 and the Sensex advanced on Monday as declining oil prices eased concerns over inflation and the growth outlook.

As of 1:00 PM, the Sensex rose 533.02 points, or 0.72 per cent, to 74,827.98, while the Nifty 50 gained 68 points, or 0.29 per cent, to 23,414.40.

HDFC Life Insurance Company, Sun Pharmaceutical Industries and Dr. Reddy's Laboratories were the top gainers in the Nifty 50 index.

In the broader markets, the Nifty MidCap index declined 0.36 per cent, while the Nifty SmallCap index fell 0.20 per cent.

Among sectors, the Nifty Realty and Nifty Auto indices outperformed, while the Nifty IT and Nifty PSU Bank indices underperformed.

Market Update at 11:00 PM: The Nifty 50 and the Sensex advanced in morning trade as declining oil prices eased concerns over inflation and the growth outlook.

As of 11:00 AM, the Sensex rose 400.27 points, or 0.54 per cent, to 74,695.23, while the Nifty 50 gained 39.30 points, or 0.17 per cent, to 23,385.70.

InterGlobe Aviation, Sun Pharmaceutical Industries and Reliance Industries were the top gainers in the Nifty 50.

In the broader markets, the Nifty MidCap index declined 0.36 per cent, while the Nifty SmallCap index fell 0.20 per cent.

Among sectors, Nifty Realty and Nifty Auto outperformed, while Nifty IT and Nifty PSU Bank underperformed.

Market Update at 09:30 AM: The Nifty 50 and Sensex advanced in early trade as declining oil prices eased concerns over inflation and the growth outlook.

As of 9:18 AM, the Sensex rose 445.63 points, or 0.6 per cent, to 74,740.59, while the Nifty 50 gained 39.55 points, or 0.17 per cent, to 23,385.95.

InterGlobe Aviation, Sun Pharmaceutical Industries and Reliance Industries were the top gainers in the Nifty 50.

In the broader markets, the Nifty MidCap index fell 0.18 per cent, while the Nifty SmallCap index declined 0.03 per cent.

Among sectors, the Nifty Realty and Nifty Auto indices outperformed, while the Nifty IT and Nifty PSU Bank indices underperformed.

Pre-Market Update at 7:40 AM: Indian equities are set for a cautious start on Monday, with GIFT Nifty indicating a muted opening. At 07:35 IST, GIFT Nifty was trading 23 points, below the Nifty 50's Friday close of 23,346.40, trading at the level of around 23,323.40. 

Wall Street ended mixed on Friday. The S&P 500 gained 0.17 per cent to 7,650.50, while the Nasdaq Composite advanced 0.40 per cent to 26,522.55. The Dow Jones Industrial Average declined 0.18 per cent to 51,682.64. Semiconductor stocks supported technology shares, while the U.S. 10-year Treasury yield returned to around 5 per cent, keeping pressure on rate-sensitive assets. The Federal Reserve's recent 25-basis-point rate increase took its policy rate to 3.75-4.00 per cent, with the outlook for further tightening remaining a key macro factor.

Asian markets were mostly higher in early Monday trade. At around 06:09 IST, South Korea's Kospi gained about 1.1 per cent, while the MSCI Asia-Pacific index excluding Japan rose 0.3 per cent, led by technology and chip stocks. Japan was closed for the Silver Week holiday, while Nikkei futures advanced 0.5 per cent. Exact current-session levels for the Hang Seng and Shanghai Composite could not be independently verified at the pre-market cut-off.

European equities ended sharply lower on Friday. The FTSE 100 declined 1.45 per cent to 10,659.13, Germany's DAX fell 1.60 per cent to 25,304.06 and France's CAC 40 dropped 1.49 per cent to 8,065.02 as higher bond yields and tighter monetary conditions weighed on equities.

Crude oil prices eased in early Asian trade. At 07:37 IST, Brent crude was down 1.48 per cent at USD 101.06 per barrel, while WTI crude declined 1.84  per cent to USD 98.41. The decline came as Saudi oil shipments recovered despite continued Houthi attacks. Lower crude prices can provide some cost relief to aviation, paints and other oil-consuming sectors, although Brent above USD 100 remains a significant inflation and import-cost risk for India.

Gold and silver also traded lower. COMEX gold was around USD 4,404 per ounce, down 0.47 per cent, while silver was near USD 66.90, down 0.37 per cent. The latest Friday MCX close was around Rs 154,199 per 10 grams for gold and Rs 241,415 per kg for silver. The MCX Monday morning session had not opened at the publication cut-off.

The Dollar Index was near 100.24, while USD/INR spot trading had not opened. The rupee's latest verified Friday close was Rs 95.8750 per U.S. dollar, with the currency down 0.3 per cent for the week. The U.S. 10-year Treasury yield was around 5 per cent. Sustained elevated U.S. yields could reduce the relative appeal of emerging-market assets and keep foreign institutional flows and the rupee sensitive to dollar strength.

Domestic institutional flows provided some support. Foreign institutional investors were net buyers of Rs 599.54 crore in the cash market on September 18, while domestic institutional investors purchased shares worth Rs 1,019.69 crore. However, another market report cited FPI net selling of around Rs 600 crore and DII buying of around Rs 1,020 crore on Friday.

The Nifty 50 closed 0.33 per cent higher at 23,346.40 on Friday after moving between 23,286.60 and 23,389.15. The Sensex declined 0.03 per cent to 74,294.96, with the index trading in a range of 74,294.96 to 74,728.44.

For the Nifty 50, immediate support levels are placed at 23,302, 23,277 and 23,238, while resistance is seen at 23,380, 23,404 and 23,443. The broader support zone remains around 23,200-23,100, while 23,600 is a key hurdle. Another technical view places support at 23,000-23,100 and sees the recovery potentially extending towards 23,550 if Brent crude remains below USD 96.

Bank Nifty closed at 56,358.70. Support is placed around 56,122 and 55,886, while resistance is seen near 56,546 and 56,734. India VIX declined around 7.3 per cent to 11.38, indicating lower near-term implied volatility despite continued weakness in the broader technical structure.

The NSE IPO enters its final bidding day on Monday, with the price band set at Rs 1,700-1,785 per share. The Rs 22,561.57 crore issue was fully subscribed by Day 2. Strong primary-market demand could absorb some liquidity from the secondary market.

In the commodity derivatives segment, SEBI's early pay-in framework becomes effective today. Eligible positions can receive margin relief, while mark-to-market margins will continue to apply. The move could improve capital efficiency for eligible participants in commodity derivatives.

Bond yields and liquidity will also remain on investors' radar. India's benchmark 10-year government bond yield ended last week at 7.0686 per cent, while RBI bond sales drained surplus liquidity. Sustained elevated yields could remain a headwind for rate-sensitive sectors.

The Federal Reserve's policy rate at 3.75-4.00 per cent and U.S. Treasury yields near 5 per cent remain important global cues. Higher rates and yields can weigh on high-valuation and rate-sensitive stocks while influencing FII flows.

Crude oil remains another key market driver. Brent has retreated from recent highs following a recovery in Saudi shipments, providing some relief to oil-consuming sectors. However, Brent at above USD 100 continues to pose inflationary and import-cost risks for India.

The NSE IPO closes today, while Augmont Enterprises, Lumino Industries, Symbiotec Pharmalab and Elitecon International are scheduled to report Quarterly Results. No major CPI, IIP or PMI release was independently verified for Monday.

Stocks in the F&O ban list include SAIL, Manappuram Finance, Inox Wind and Bandhan Bank. Securities enter the F&O ban period after crossing 95 per cent of the market-wide position limit.

The rupee pared its initial gains to close largely unchanged at around Rs 95.89 against the U.S. dollar on Friday amid a strong U.S. currency. Investors will track movements in the dollar, U.S. yields, crude oil and foreign flows for further direction.

Disclaimer: The article is for informational purposes only and not investment advice.