GIFT Nifty Above 23,500: Stubborn Inflation, Weekly Expiry Among 5 Factors That May Drive Nifty, Sensex on September 15

Indian equity markets will resume trading after a long weekend, with GIFT Nifty indicating a positive start for the benchmark indices. As of 7:36 AM on Tuesday, September 15, 2026, GIFT Nifty was trading 87.50 points, or 0.37 per cent, higher at 23,531, suggesting that the Nifty 50 could open above the 23,500 mark.

The positive indication comes despite mixed global cues and a rise in domestic inflation. India's Consumer Price Index inflation for August 2026 came in at 4.82 per cent, the highest level since December 2025. While the market may begin the session on a firm note, selling pressure could emerge at higher levels. Volatility is also likely to remain elevated amid fragile Asian markets and the weekly Nifty expiry. India VIX had jumped more than 15 per cent last week, reflecting a sharp rise in market uncertainty.

Asian markets were largely trading lower in early deals. The Straits Times slipped more than 1 per cent, while Hong Kong's Hang Seng was down 0.41 per cent. Japan's Nikkei 225, however, bucked the trend and gained 0.77 per cent.

Crude oil remains another important factor to watch. Brent crude was trading near USD 107 per barrel, up 1.22 per cent, although it remained below Monday's high of USD 109.44 per barrel. Oil prices continue to stay elevated amid concerns over global supplies. Reports indicate that Saudi Arabia's East-West pipeline, an alternative route to the Strait of Hormuz, remains shut following drone attacks, keeping supply concerns in focus.

Foreign institutional investors continued to reduce their exposure to Indian equities on Friday. FIIs were net sellers for the fourth consecutive session, offloading shares worth Rs 930.90 crore. Domestic institutional investors, on the other hand, remained buyers and purchased equities worth Rs 1,968.17 crore.

Meanwhile, Wall Street ended lower on Monday, led by losses in Nvidia and other Semiconductor stocks. Sentiment towards technology shares weakened after senior executives from US artificial intelligence companies raised concerns over AI safety and called for a slower pace of development.

Against this backdrop, the Nifty may open above 23,500, but its ability to sustain the early gains will depend on crude oil prices, global market sentiment and how the index navigates the weekly expiry session.

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