Market Commentary (closing) for 15th September 2026 by Bajaj Broking
Market Closing Commentary
Indian benchmark indices witnessed a highly volatile session on 15 September, with the market opening on a positive note before witnessing aggressive selling at higher levels. The Nifty reversed sharply from the day’s high of 23,592, falling more than 550 points intraday and closing below the 23,150 level. The sell-off was driven by a combination of adverse macroeconomic factors, including crude oil prices sustaining above $105 per barrel, raising concerns over inflation and India’s import bill, higher bond yields and a sharp depreciation in the Indian rupee, which further weakened investor sentiment. Market volatility also increased significantly, with India VIX surging nearly 9% to close at 13.4, reflecting heightened nervousness among market participants.
At the close, the Sensex declined 777.94 points, or 1.04%, to 74,003.82, while the Nifty fell 279.50 points, or 1.19%, to 23,118.60.
Sectorally, Nifty IT was the only sector to buck the trend, gaining 2.2%, while all other sectors ended in negative territory. Realty was the biggest loser, declining over 4%, followed by Metals and Consumer Durables, which fell 2.5% and 2.4%, respectively.
The broader market also witnessed significant selling pressure, with the Nifty Midcap 100 declining 2.1% and the Nifty Smallcap 100 falling 2.4%, highlighting broad-based risk aversion across the market.
Nifty Outlook
Index on the daily chart formed a sizable bearish candle with a higher high and a lower low. Index opened higher but failed to sustain at higher levels and gave up its entire gains to close deep in the red.
Nifty in the process breached its last week low of 23231 highlighting continuation of the downward bias.
Going ahead, bias remain down below 23,600 levels being the Monday’s high and last week breakdown area. A follow through weakness will open downside towards 23,000 and 22,800 levels in the coming sessions.
Only a formation of higher high and higher low on a sustained basis in the daily chart and a move above 23,600 will signal a pause in the current down trend.
Bank Nifty Outlook
Index on the daily chart formed a sizable bearish candle as the index opened higher but failed to move above 57,000 levels and gave up its entire gains to close deep in the red around the 56,000 levels.
Index is currently placed around the lower band of the last 11-week range 56,000-58,700. A breach and close below last week low of 55,700 levels will signal extension of the corrective decline towards 55,200 and 54,800 levels in the coming sessions.
Immediate bias in the index remains down below 57,000 levels and only a formation of higher high and higher low on a sustained basis in the daily chart and a close above 57,000 levels will signal a pause in the current down trend.
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