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• Equity benchmark Nifty closed marginally lower amid profit booking, although the index recovered partially from its intra-day low following reports that Iran could consider reopening the Strait of Hormuz if the US lifted its blockade on Iranian ports. Brent crude prices fell sharply toward $98 a barrel after declining nearly 8% over the previous four sessions, while European markets turned positive on hopes of progress toward a diplomatic resolution between the US and Iran.

• Back home, the Nifty declined 85 points, or 0.4%, to close at 23,329 after touching an intra-day low of 23,285. Broader markets witnessed profit booking at higher levels, with the Nifty 500 advance-decline ratio standing at 1.5:2.5, indicating selling pressure across the mid- and small-cap segments. Banking, IT, and auto stocks were among the major laggards. In contrast, oil marketing companies and aviation stocks witnessed fresh buying interest on the decline in crude oil prices, with HPCL, IOC, BPCL, and IndiGo gaining up to 2%.

• Globally, US equities closed at record highs overnight, led by chip stocks, while Asian and European markets traded higher amid optimism that the Strait of Hormuz could reopen, easing concerns over global energy supplies.

Technical Outlook:

• Nifty index opened on a flattish note and remained in a sideways to negative trend throughout the session. The index attempted to inch towards 23500 zones in the first hour but failed to hold at higher levels and fell to 23285 zones. It formed a bearish candle on the daily frame indicating selling at higher levels but continues forming higher highs from the last four session. Now it has to cross and hold above 23400 zones for an up move towards 23500 then 23600 zones while a hold below the same could see weakness towards 23200 then 23100 zones.

• S&P BSE Sensex index opened on a flattish note and witnessed selling pressure in the first half of the session near its resistance of 75000 levels. The index gradually drifted lower towards 74400 zones and witnessed sharp volatile swings on either sides in the second half. It formed a bearish candle on the daily chart, indicating selling pressure at higher levels. Now it has to cross and hold above 74700 zones for an up move towards 75000 then 75200 zones while a hold below the same could see weakness towards 74200 then 74000 zones.

Derivative Outlook:

• Nifty future closed negative with losses of 0.31% at 23410 levels. Positive setup seen in RBL Bank, Bandhan Bank, Mankind, MCX, Bharat Forge, Patanjali, Eternal and Titan while weakness seen in Kaynes, Concor, Voltas, PGEL, Premier Energies, Britannia, Tata Elxsi, NBCC, Blue Star, Cummins and Colpal.

• On option front, Maximum Call OI is at 23500 then 23400 strike while Maximum Put OI is at 23000 then 23300 strike. Call writing is seen at 23400 then 23500 strike while Put writing is seen at 23400 then 22800 strike. Option data suggests a broader trading range in between 22900 to 23900 zones while an immediate range between 23200 to 23700 levels.

• Sterling and Wilson – Company secures prestigious domestic and international orders totaling over approx.Rs985cr.

• Optiemus to Own Majority Stake in India JV With Nothing – Company signed a binding term sheet with Nothing Electronics Pvt to establish a joint venture for selling CMF products including mobile phones. Optiemus will initially acquire 51.1% equity in the proposed JV company.

• Nucleus Software – Company has appointed Sudhanshu Tripathi as its Chief Marketing Officer (CMO). The appointment will take effect from Sept. 21.

• Puravankara – Company has purchased a 13.44-acre land parcel in Greater Noida for Rs 340 crore to develop a housing project, marking its entry into the Delhi-NCR property market. The company is expecting an estimated revenue of Rs 5,200 crore from this upcoming project.

• Fredun Pharma – Company has acquired a 26% stake in Goodman Vetcare. Goodman Vetcare has been valued at Rs 300 crore.

• Precision Wires India – Company has received a formal license from Gujarat Pollution Control Board (GPCB).

• Engineers India Wins $450M Consultancy Pact for Dangote Refinery – Company has signed a contract valued at more than $450m to serve as PMC and EPCM Consultant for Dangote’s greenfield refinery and petrochemical plant in Kenya.

• Maruti Suzuki – Company’s passenger vehicle sales grew about 36% year-on-year between April and August 2026, Managing Director and CEO said. Sales in the entry-level segment rose more than 96%, prompting the company to accelerate its capital expenditure plans.

• Eicher Motors – Company launched the Classic 350 Signature White Edition at Rs 2.24 lakh. The motorcycle will be offered as a top model alongside the Emerald Green Edition.

• Stylam Industries – Company has commenced commercial operations at its Panchkula manufacturing unit. The company had set up a laminate plant at the Panchkula facility.

Global Market Update

• European Market – European stocks were muted as an advance in oil prices offset gains in tech shares fueled by optimism around artificial-intelligence developments. UK, Germany and France Index are flat to negative.

• Asian Market – Asian stocks rose, driven by gains in chipmakers as tech sentiment got a lift from declines in oil prices and a bullish outlook from Nvidia. Japanese stocks advanced after the nation’s central bank raised rates, as expected. Taiwan, South Korea, Hong Kong and China Index marginally gained. Japan Market closed today.

• US Data – ADP Weekly employment Change.

• Commodity – Oil prices rose 2% to $102/bbl as continued risks to shipping through the Strait of Hormuz kept Middle East supply concerns in focus, while investors awaited signs of diplomatic progress over the Iran conflict.

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