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Informist, Wednesday, Sept. 23, 2026

 

By Adhithya Aji

 

MUMBAI – The benchmark indices are expected to see some gains in the short term as investors find some relief in easing crude oil prices and global cues. This is driving a positive sentiment for the equity market, which was underperforming until recently. Market participants will focus on the listing of the National Stock Exchange of India on the bourses Thursday. The exchange's initial public offering was among India's biggest.

 

The November futures contract of Brent crude oil was hovering around $99 a barrel. The current rise in the equity market is technical and cannot be completely attributed to the cooling of crude oil prices, Pravin Bokade, head of research at IDBI Capital, said. Bokade is of the view that the current gains may not be sustained. He said the market will rise in the short term as it is in the oversold zone.

 

NSE is set to make its debut on the bourses Thursday. The stock will be listed on BSE. The Metropolitan Stock Exchange of India has also admitted the stock for trading on the exchange from Thursday. As a large-cap company entering the stock market, there is a lot of recyclable money coming into the stock. In the long term, the stock is expected to do well, Bokade said. The public issue comprised an offer for sale of up to 126.4 million shares.

 

In recent weeks, the primary market has been seeing more inflows of funds than the secondary market because of hefty demand for the new companies entering the market, according to analysts. However, some of these new businesses are likely to be overvalued and may not give good returns in the long term, they said. Moreover, most companies are facing input pressures due to supply chain disruptions because of the war in West Asia, Bokade said. "Probably they wouldn't see the market expansion," he opined. 

 

The Nifty 50 is expected to rise for the remainder of the week as the overall sentiment has turned positive, according to Jatin Gedia, vice-president, technical research, at Teji Mandi Investment Technologies. The broader market indices ended Wednesday with decent gains, which in turn has led to an improvement in sentiment, Gedia added. The support for the Nifty 50 is now seen at 23300-23200 points while the resistance is pegged around 23500-23750, he said. "... until broader clarity emerges across the benchmark indices, market participants should prioritise selective, stock-specific opportunities, supported by disciplined position sizing, clearly defined trading levels, and robust risk-management practice," Osho Krishan, chief manager, technical & derivative research at Angel One, said in a note.  End

 

US$1 = INR 95.74

 

Edited by Himanshi Gupta

 

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