Quote on Daily Market Commentary for September 8th 2026 by Siddhartha Khemka - Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary for September 8th 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian equities are likely to remain under pressure amid weak global cues, elevated crude prices and continued concerns over supply disruptions following the latest escalation in US-Iran hostilities around the Strait of Hormuz. Brent crude rose 1.3% to hover near US$99/bbl, adding to concerns over energy security and inflation. Investors will track crude prices, developments around the West Asia and the 18th BRICS Summit in New Delhi on September 12–13, which will be a key geopolitical monitorable. Primary market activity remains robust, with six mainboard IPOs set to open on Wednesday and 12 IPOs scheduled this week, targeting around Rs7,180 crore in aggregate. Sustained issuance is positive for the overall capital-markets ecosystem. The secondary market witnessed a decline for the second consecutive session, with the Nifty 50 falling 0.6% to 23,635 amid rising crude prices and weakness in Realty and IT shares. Midcap 100 and Smallcap 100 gained 0.2% each. Nifty Defence (+2.5%), Media (+1.3%) and Pharma (+0.7%) outperformed, while Private Banks (-1%), Oil & Gas (-0.7%) and Cement (-0.6%) lagged. Bank Nifty fell 0.5%, marking its third consecutive session of decline. Defence stocks are likely to remain in momentum, supported by continued order inflows and strong government focus on domestic procurement. The Defence Acquisition Council’s approval of procurement proposals worth Rs1.1 lakh crore, with ~98% expected from Indian industry, further strengthens the order pipeline and provides a positive read-through for domestic defence companies.
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