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Informist, Wednesday, Sept. 30, 2026

By Adhithya Aji

MUMBAI – Benchmark indices are likely to open slightly higher Wednesday as crude oil prices eased from higher levels, even as they remain above the psychological mark of $100 per barrel. US bond yield over 5.2% is also likely to weigh down on investor sentiment. The GIFT Nifty trend indicates a slightly higher open for the benchmark Nifty 50.

The November futures of Brent crude oil were nearly 0.9% higher at $103 per barrel. Energy prices eased after output from the East-West oil pipeline in Saudi Arabia came through faster than expected. Oil exports from the country increased to 5.8 million barrels per day in September, the highest since February, Dow Jones reported, citing an ANZ Research report. However, the uncertainty around the reopening of the Strait of Hormuz due to the absence of a peace deal between the US and Iran has kept crude oil prices above $100 per barrel. Meanwhile, the benchmark 10-year US bond yield remained near multi-year highs at over 5.2%. 

The Reserve Bank of India will commence its monetary policy meeting next week, where the central bank is expected to hike interest rates. Major central banks around the world have raised their benchmark rates amid inflationary pressures in their economies sparked by higher crude oil prices. While India's retail inflation is still within the RBI's upper tolerance band of 4-6%, the probability of a rate hike has certainly increased given global developments, Bajaj Alternate Investment Management said in a report. "We believe India's macroeconomic fundamentals remain resilient and can withstand a couple of additional rate hikes without impacting growth much," the report said. 

Emerging sectors are now a sure bet in Indian markets, which is leading to a bullish sentiment in the broader market indices. The growth in these indices is majorly driven by robust earnings growth, according to Bajaj Alternate Investment Management. "The robust performance is also partly due to the changing dynamics of the Indian economy, which is now largely driven by emerging sectors due to policy support in manufacturing and exports," the report said.

At 0757 IST, the October futures of GIFT Nifty were 0.1% lower at 22819 points, indicating a marginally higher start for the Nifty 50, which ended 0.3% lower at 22716.20 Tuesday. The support for the Nifty 50 is pegged at around 22400, and the resistance is seen at 22800, according to Pabitro Mukherjee, deputy vice president of research at Bajaj Broking. A sustained move above the resistance will take the index towards 23000. "A sustained move above 23100 could signal a pause in the ongoing correction," Mukherjee said in a note. 

Wednesday, the semi-annual rejig of Nifty 50 constituents will take effect. As per the revision, BSE will replace Wipro in the blue-chip index. Vodafone Idea will be added to the Nifty 100 and Nifty Next 50 indices. Hitachi Energy India, Polycab India, and Vedanta Aluminium Metal will also enter the Nifty 100. Meanwhile, India Hotels, Lodha Developers, REC, Shree Cement, and United Spirits will exit the Nifty 100.

Globally, most Asian indices opened higher Wednesday, with Taiwan's TAIEX leading gains in the region, up over 1%. Wall Street equity benchmarks ended lower Tuesday as bond yields continued to rise.  End

US$1 = INR 95.98

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Shubhayan Bhattacharya

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