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Below the Quote on Daily Market Commentary for September 10th 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd

Indian equities are likely to remain under pressure. Brent crude has crossed the US$100/bbl mark and is currently around US$102/bbl, with rising attacks on commercial shipping increasing the risk of supply disruptions amid the intensifying war. The conflict has entered its seventh month with no signs of de-escalation. Any further escalation in shipping attacks or disruption around the Strait of Hormuz could push crude prices higher, adding pressure on the rupee, which depreciated 0.3% to Rs95.4/US$, and potentially warrant a policy response. On Thursday, the Nifty 50 snapped its three-day losing streak, rising 0.2% to 23,477, supported by value buying in Realty and Banking stocks. Broader markets remained subdued, with Midcap 100 declining 0.4%, while Smallcap 100 ended flat. Media (+0.6%) and PSU Banks (+0.4%) outperformed, while Metals (-0.7%), Pharma (-0.5%) and Auto (-0.4%) were the key laggards. FIIs remained net sellers, offloading Rs583 crore on Wednesday. In the primary market, the NSE IPO will open for subscription on September 16, with the price band expected to be announced on Friday. Investors will track the NSE IPO price band announcement and US August CPI on Friday, with the inflation print likely to influence Fed rate expectations, US Treasury yields, the dollar and emerging-market flows. India’s weekly FX reserves data will also be watched amid elevated crude prices and pressure on the rupee.

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