Nifty set for muted opening as US-China Summit in focus
GIFT Nifty:
GIFT Nifty October 2026 futures were up 15 points, indicating a positive start for the Nifty 50.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 3,809.99 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,120.07 crore in the Indian equity market on 22 September 2026, according to provisional data.
FPIs sold shares worth Rs 20065.46 crore in September so far, through 22 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.
Global Markets:
Asian stocks were mixed on Wednesday, while Japan's markets remained closed for a holiday. Caution ahead of the US-China summit also kept broader moves in equities muted. Trump and Chinese President Xi Jinping are scheduled to meet in Washington on Thursday, 24 September, with markets watching for developments on trade and artificial intelligence.
US stocks ended mixed on Tuesday, with the Nasdaq Composite closing at a record high for the second consecutive session, supported by gains in technology and artificial intelligence-related stocks. The Dow Jones Industrial Average declined 0.36%, while the S&P 500 was broadly flat at 7,764.64. The Nasdaq advanced 0.45% to 27,244.28.
Technology and AI stocks remained in focus following optimism around Meta Platforms' newly launched AI assistant, Muse. The launch has added to expectations of wider adoption of AI agents and supported gains across technology and semiconductor stocks.
US and Iranian officials also held talks on the sidelines of the United Nations General Assembly in New York. Trump said the meeting was productive, while Iranian officials reiterated conditions for reopening the Strait of Hormuz, including a reduction in US military pressure.
Oil prices extended their decline following the reports of diplomatic engagement. Brent crude fell below the $99-a-barrel mark, with markets also tracking reports that Saudi Arabia was preparing to restore operations on its East-West oil pipeline.
Reports that Iran could reopen the Strait of Hormuz if certain conditions are met also contributed to expectations of improved supply flows. The developments have eased some concerns over energy supply disruptions, although geopolitical risks remain.
Domestic Market:
The key equity benchmarks snapped a four-session winning streak on Tuesday, with the Nifty closing below the 23,350 mark. Selling in IT, FMCG and PSU bank stocks outweighed gains in metal and realty shares. The market opened higher on positive global cues but came under pressure during the session, while Brent crude falling below $100 a barrel provided some relief.
The S&P BSE Sensex declined 329.91 points or 0.44% to 74,529.08. The Nifty 50 index lost 85.30 points or 0.36% to 23,329. The 50-unit index rose 1.28% in the past four consecutive sessions.
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