Nifty 50, Sensex Erase Gains as IT Shares Weigh on Markets

Market Update at 11:00 PM: The Nifty 50 and Sensex erased their early gains on Tuesday as weakness in IT shares weighed on the benchmark indices.

As of 10:51 AM, the Sensex fell 161.58 points, or 0.22 per cent, to 74,697.41, while the Nifty 50 declined 43.35 points, or 0.19 per cent, to 23,370.95.

Coal India, InterGlobe Aviation, and Adani Enterprises were the Top Gainers in the Nifty 50 index.

In the broader markets, the Nifty MidCap index rose 0.28 per cent, while the Nifty SmallCap index gained 0.39 per cent.

Among sectors, the Nifty Realty index emerged as the top gainer, while the Nifty IT index declined the most.

Market Update at 09:30 AM: Indian benchmark equity indices opened higher on Tuesday, September 22, as oil prices extended their decline and global equities advanced. The Nifty 50 and Sensex gained in early trade, supported by positive global cues.

As of 9:17 AM, the Sensex rose 38.40 points or 0.05 per cent to 74,897.39, while the Nifty 50 was up 30.45 points or 0.13 per cent at 23,444.75.

Coal India, InterGlobe Aviation and Adani Enterprises were the top gainers in the Nifty 50 index during early trade.

In the broader markets, the Nifty MidCap index rose 0.28 per cent, while the Nifty SmallCap index gained 0.39 per cent, indicating a positive trend across broader market segments.

Among sectoral indices, the Nifty Realty index rose the most, while the Nifty IT index declined the most.

Pre-Market Update at 5:00 AM: GIFT Nifty was trading around 23,527.50 in early trade on September 22, 2026, up 88 points from its previous close of 23,297 as of 5 AM. The indication points to a positive opening for Indian equities, with domestic benchmarks likely to begin the session with an upward gap if the trend sustains until market open.

The Nifty 50 closed Monday’s session at 23,414.30, gaining 67.90 points or 0.29 per cent, while the Sensex ended at 74,858.99, up 564.03 points or 0.76 per cent. The Nifty 50 traded between an Intraday low of 23,330.20 and a high of 23,466.80. The recovery was supported by easing crude oil prices and buying interest in select Large-Cap stocks.

U.S. equity markets ended sharply higher on Monday, supported by strength in technology and Semiconductor stocks. The S&P 500 closed at 7,764.70, gaining 1.49 per cent, while the Nasdaq Composite surged 2.26 per cent to 27,122.09. The Dow Jones Industrial Average advanced 0.71 per cent to 52,048.83.

Technology stocks led the advance, with artificial intelligence-related companies witnessing strong buying interest. Falling Treasury yields and declining crude oil prices also improved market sentiment. The gains in U.S. technology stocks could provide a supportive backdrop for Indian IT and technology-related counters.

Asian markets opened mostly higher on Tuesday. The Nikkei 225 was trading around 65,018.95, gaining 1.38 per cent, while the Hang Seng advanced 1.18 per cent to 25,042.71. The Shanghai Composite rose 0.97 per cent to 3,949.91 and the Kospi climbed 1.65 per cent to 7,007.72 in the latest available session data.

European markets had a mixed previous session. The FTSE 100 ended nearly flat at 10,372, while Germany’s DAX declined 0.75 per cent and France’s CAC 40 slipped 0.32 per cent. Global markets also tracked developments around U.S.-China discussions and geopolitical developments affecting energy markets.

Foreign Institutional Investors remained net sellers in the Indian cash market on September 21, selling equities worth Rs 576.20 crore. Domestic Institutional Investors continued to provide buying support, recording net purchases of Rs 2,797.27 crore during the session.

The divergence between foreign and domestic flows remains an important market factor, with domestic institutional participation cushioning selling pressure from overseas investors. FIIs have remained cautious during September, with cumulative monthly selling reported near Rs 21,000 crore.

Crude oil prices extended their decline, with Brent crude futures settling near USD 100.34 per barrel after falling 3.4 per cent in the previous session. WTI crude futures declined below USD 96 per barrel, settling near USD 95.15, amid easing concerns over supply disruptions and improving geopolitical sentiment.

Lower crude prices remain supportive for India as a major oil importer. The decline could benefit aviation companies by reducing fuel-cost pressure and provide input-cost relief to paint and chemical companies that use crude derivatives as raw materials. Oil marketing companies could see a mixed impact, as lower crude prices may improve marketing margins while reducing inventory gains.

Gold prices softened as risk appetite improved. Domestic MCX gold futures were trading near Rs 1,53,450 per 10 grams, while silver futures were around Rs 2,39,850 per kg in the latest available domestic market update.

The U.S. Dollar Index and U.S. 10-year Treasury yield data could not be independently verified through available search results at the time of writing. However, the U.S. 10-year yield was reported below the 5 per cent mark after declining in the previous session, supporting risk assets globally.

The Indian rupee ended Monday slightly stronger at 95.8150 against the U.S. dollar compared with the previous close of 95.8725. Lower crude prices and portfolio-related inflows supported the currency, although importer demand remained a factor.

For the Nifty 50, immediate support remains near 23,300, followed by 23,200, while resistance is placed around 23,500 to 23,600. A sustained move above the resistance zone could strengthen the ongoing recovery attempt, while a move below the immediate support area could bring renewed selling pressure.

Bank Nifty is expected to track movements in private banking stocks, with support seen around recent swing lows and resistance near its short-term moving averages.

India VIX data for the latest close could not be independently verified before publication. However, easing crude prices and improved global risk appetite indicate a relatively stable near-term risk environment, although domestic volatility may remain around key technical levels.

The NSE releases the F&O ban list before market opening based on market-wide position limits (MWPL). Stocks entering the ban cannot see fresh derivative positions, although traders can reduce existing positions.

The latest NSE F&O ban list for September 22, 2026 could not be independently verified before publication. Traders should refer to the latest NSE derivatives circular for the confirmed list before initiating fresh derivative positions.

The NSE IPO received strong demand and concluded with overall subscription of 5.7 times. The issue is scheduled for listing on September 24, keeping primary market activity in focus.

InterGlobe Aviation could remain in focus as the decline in crude oil prices improves the near-term operating environment for airlines by potentially reducing fuel-cost pressure.

Reliance Industries remained among the key contributors during Monday’s recovery as buying returned to large-cap stocks.

HDFC Bank and ICICI Bank attracted buying interest during Monday’s broader market recovery. Banking stocks could remain in focus as institutional flows and movements in Bank Nifty influence market sentiment.

Indian technology stocks may remain in focus following the strong overnight rally in U.S. technology and semiconductor shares, particularly as gains in AI-related companies lifted the Nasdaq Composite.

NSE-related counters will also remain on the radar following strong demand for the exchange operator’s IPO ahead of its scheduled September 24 listing.

Information Technology could remain in focus after strong gains in U.S. technology and semiconductor stocks provided a positive global backdrop for Indian IT companies. Aviation stocks may benefit from the recent decline in crude oil prices, which could ease fuel-cost pressure for airlines. Banking and Financial Services stocks will remain important as domestic institutional buying continues to support the market and private banks influence broader benchmark movements.

The Nifty 50 is expected to remain within the 23,300 to 23,600 zone in the near term. A sustained move above 23,600 would indicate stronger upward momentum, while holding above 23,300 would keep the current recovery attempt intact. The index continues to remain below key short-term averages, making sustained movement above resistance levels important for the next directional move.

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

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