Nifty trade above 23,350 in early trade; breadth positive
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 461.30 points or 0.61% to 74,748.70. The Nifty 50 index rose 47.65 points or 0.21% to 23,398.
In the broader market, the BSE 150 MidCap Index added 0.16% and the BSE 250 SmallCap Index rose 0.24%.
The market breadth was positive. On the BSE, 2,044 shares rose and 1,387 shares fell. A total of 234 shares were unchanged.
FPIs sold shares worth Rs 23,676.65 crore in September so far, through 18 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:
Hy-Tech Engineers declined 5.02%. The company has reported a 10.8% rise in standalone net profit to Rs 4.60 crore on a 12.9% increase in revenue to Rs 41.26 crore in Q1 FY27 as compared with Q1 FY26.
Shilpa Medicare rose 2.49% after the company said the US Food and Drug Administration (USFDA) conducted a surveillance inspection at Unit VII of its Analytical Services Division in Hyderabad from 16 to 18 September 2026. The inspection concluded with one procedural observation, which was neither a repeat observation nor related to data integrity.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.01% to 7.066 compared with the previous session close of 7.067.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.7475 compared with its close of 95.9600 during the previous trading session.
MCX Gold futures for the 5 October 2026 settlement shed 0.41% to Rs 1,53,750.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 100.30.
The United States 10-year bond yield shed 0.58% to 4.967.
In the commodities market, Brent crude for the November 2026 settlement fell $2.06 or 1.98% to $101.81 a barrel.
Global Markets:
Dow Jones futures were up 131 points on Monday, as investors assessed developments ahead of US President Donald Trump's meeting with Chinese President Xi Jinping in Washington later this week.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held preparatory talks in New York over the weekend, covering trade, tariffs, critical minerals and artificial intelligence. The discussions also included a proposed mechanism for notifying each other about AI incidents with potential national security implications.
Investor sentiment was also supported by easing crude oil prices and signs of possible diplomatic engagement between Washington and Tehran. Trump said he was open to meeting Iranian President Masoud Pezeshkian during the United Nations General Assembly in New York this week. However, tensions remained elevated after Iran and the US exchanged threats over the weekend, while Yemen's Iran-backed Houthis launched missile and drone attacks on Saudi Arabia, including targets in Riyadh and near the country's oil infrastructure.
Most Asian indices advanced on Monday, led by technology and semiconductor stocks as strong demand for artificial intelligence infrastructure supported chipmakers. Easing oil prices also provided some relief to markets, although crude remained above $100 a barrel and geopolitical risks continued to weigh on the outlook. Japanese market is closed for a holiday.
Brent crude fell below $104 a barrel as investors focused on signs of a recovery in Saudi oil shipments. Reports indicated that Saudi Arabia was seeking to restore flows through its East-West pipeline after the route was damaged in recent attacks. Saudi crude exports have already recovered to more than 4 million barrels per day in September from 2.4 million barrels per day in August, according to provisional Kpler data. However, the ongoing Houthi attacks and disruption to regional shipping routes remain a risk to global oil supplies.
Wall Street ended mixed on Friday. The Dow Jones Industrial Average fell 0.18%, while the S&P 500 gained 0.17% and the Nasdaq Composite rose 0.40%. Semiconductor stocks supported the Nasdaq and S&P 500, while broader weakness weighed on the Dow. US Treasury yields moved above 5% during the session, adding to concerns over inflation and the outlook for interest rates.
The upcoming Trump-Xi summit remains a key focus for global markets. Trade tariffs are expected to be a major issue, with the existing US-China trade truce due to expire in November. Discussions are also expected to cover critical minerals and AI, both of which have become increasingly important to the technology supply chain. The latest preparatory talks produced an agreement to establish an AI dialogue and operationalise a previously discussed Board of Trade mechanism.
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