IGI Logo

Below the Quote on Daily Market Commentary for September 15th 2026 by Siddhartha Khemka, Motilal Oswal Financial Services Ltd

Indian equities are likely to remain weak amid elevated crude prices, renewed inflation concerns and uncertainty ahead of the US Federal Reserve’s policy decision. Brent crude rose 2.3% to around USD 108/bbl amid unresolved geopolitical tensions and supply concerns, adding to inflationary pressures. Meanwhile, India’s retail inflation accelerated to a 20-month high of 4.82% in August, raising concerns over the scope for further monetary easing and increasing expectations of a tighter RBI policy stance. The rise in inflation and crude prices pushed the 10-year G-sec yield up 7bps to 7.09%, a four-month high, further raising concerns over a tighter domestic rate environment. The Nifty 50 declined 1.2%, while Midcap100 and Smallcap100 fell 2.1% and 2.4%, respectively, indicating broader market weakness. Sectorally, Nifty IT was the only gainer, rising 2.2%, while all other sectors ended in the red. IT stocks rebounded sharply after comments from OpenAI and Anthropic leadership calling for a more measured pace of AI development, easing concerns around rapid AI-led disruption and supporting sentiment towards Indian IT services. Nifty Defence declined 6%, extending its recent correction amid profit-booking following a strong run-up, index is up 18% in 2026. Nifty Metal also fell 2.5%, amid a stronger dollar and hardening global bond yields, which weighed on metals and other rate-sensitive commodities. Tata Group companies with stakes in Tata Sons remained in focus after the RBI rejected Tata Sons’ request to surrender its registration as a core investment company, reviving expectations of a potential public listing. The development triggered a sharp rally across listed Tata entities as investors anticipated potential value unlocking, although the listing process could remain prolonged. Investors will now focus on the Federal Reserve’s September 15–16 policy meeting, with the rate decision due on September 16, amid heightened uncertainty over the inflationary impact of higher crude prices.

Above views are of the author and not of the website kindly read disclaimer