Pre-Market 28 September 2026: GIFT Nifty Hints At Negative Start; Fresh US-Iran Tensions In Focus

Indian equities are set to enter Monday’s session, while the US-Iran standoff saw a fresh turn over the weekend, with President Donald Trump rejecting Iran's proposal to reopen the Strait of Hormuz within seven days. With Brent crude still above $100 a barrel, oil and global bond yields will remain important cues when Indian markets reopen.

How Did Indian Markets Close On Friday?

The BSE Sensex gained 0.43% to end at 73,895.74, while the Nifty 50 rose 0.34% to close at 23,140.50.

The recovery was also limited across the broader market. Nifty Midcap 100 remained in the red, while Nifty Smallcap 100 ended higher. Foreign investors remained a pressure point. FIIs sold equities worth ₹11,490.03 crore during the week, while DIIs bought ₹16,398.15 crore.

Brent crude was around $105.5 per barrel, while the rupee closed at 95.8125 per dollar on Friday.

Global Markets Recap

Wall Street ended higher on Friday as technology stocks supported the major indices. The Dow Jones Industrial Average rose 0.93%, the S&P 500 gained 0.51% and the Nasdaq Composite added 0.48%.

European markets ended mixed on Friday. The FTSE 100 rose 0.14% to 10,695.25, while France's CAC 40 slipped 0.045% to 8,077.80.

Asian markets also showed a mixed picture. Japan's Nikkei 225 gained 1.30% to 66,364.20, while Hong Kong's Hang Seng fell 1.01% to 24,510.09.

GIFT Nifty Cues

At 7:30 am on 28 September, GIFT Nifty was trading at 23,116.00, down 72.50 points or 0.31%, suggesting a negative start for Indian equities on Monday.

Nifty 50 Technical Levels

Nifty 50 held above the 23,000 psychological support on Friday after recovering from the day's lower levels. However, the broader technical structure remains weak after Thursday's decisive breakdown.

• The 23,300–23,350 zone is the immediate hurdle, followed by resistance near 23,600.

• On the downside, 23,000 remains the key near-term support.

What Could Shape Monday's Trade?

Oil could remain the first major external cue after Trump's rejection of Iran's proposal on the Strait of Hormuz. Iran said on Sunday that reopening the waterway remains linked to its conditions, leaving the situation unresolved ahead of the next oil-market session.

On the domestic side, India's August Index of Industrial Production (IIP) is scheduled for release on 28 September. The data will provide a fresh read on industrial activity as the new trading week begins.

US Treasury yields, the rupee and foreign fund flows will also be watched as investors assess whether Friday's recovery can extend into the new week.

Also Read - Asian Markets To See Holiday-Shortened Week