Nifty trade below 23,700 in early trade; breadth positive
At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 370.87 points or 0.49% to 75,761.94. The Nifty 50 index lost 107.30 points or 0.45% to 23,678.55.
In the broader market, the BSE 150 MidCap Index fell 0.14% and the BSE 250 SmallCap Index shed 0.10%.
The market breadth was positive. On the BSE, 1,557 shares rose and 1,552 shares fell. A total of 223 shares were unchanged.
FPIs sold shares worth Rs 15116.06 crore in September so far, through 7 September 2026. This follows net cash purchases of Rs 17,366 crore in August 2026, while they were net buyers of Rs 6,731.97 crore in July 2026.
Stocks in Spotlight:
Swiggy shed 0.11%. The company said that its wholly owned subsidiary, Swiggy Networks, has entered into a share acquisition agreement (SAA) and Deed of Adherence (DOA) for the sale of its entire shareholding in Lynks Logistics to Trustroot Internet.
Shiprocket rose 1.84% after the company?s consolidated net loss narrowed to Rs 13.71 crore in Q1 FY27 compared with the net loss of Rs 18.03 crore posted in Q1 FY26. Revenue from operations declined 25.27% YoY to Rs 442.49 crore in Q1 FY27.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.03% to 6.955 compared with the previous session close of 6.957.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.6550 compared with its close of 94.5650 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.62% to Rs 1,53,800.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 98.82.
The United States 10-year bond yield shed 0.17% to 4.776.
In the commodities market, Brent crude for November 2026 settlement jumped $1.33 or 1.38% to $97.61 a barrel.
Global Markets:
The US stock market was set for a cautious reopening on Tuesday after the Labor Day holiday, with Dow futures down about 323 points amid heightened Middle East tensions.
Most Asian markets advanced, but gains were tempered by concerns over rising oil prices. Brent crude climbed above $97 a barrel as tensions around the Strait of Hormuz intensified following US-Iran military confrontations. Iran has threatened tighter controls around the strategic waterway, raising concerns over possible disruptions to global oil supplies.
The rise in crude has also strengthened inflation concerns and complicated the Federal Reserve's policy outlook. Markets are pricing in more than a 60% probability of a 25-basis-point Fed rate hike at the September meeting. US inflation data due later this week could influence those expectations.
Investors are also watching renewed US-Canada trade tensions. Canada is set to impose retaliatory tariffs on around $20 billion of US goods, while President Donald Trump has threatened to block Bombardier from selling aircraft in the US unless the company manufactures them domestically.
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