Pre-Market 29 September 2026: GIFT Nifty Hints At Muted Start; US-Iran Tensions, Global Cues On Radar

Indian equities are set to head into Tuesday after a sharp sell-off, pushing the benchmark indices to their lowest closing levels in nearly six months, while elevated crude oil prices and the latest move in the US-Iran standoff remains on the radar.

How Did Indian Markets Close On Monday?

The Sensex fell 1,124.02 points, or 1.52%, to 72,771.72, while the Nifty 50 dropped 360.25 points, or 1.56%, to 22,780.25 on Monday.

Selling was broad-based on Monday, with 47 of the 50 Nifty constituents ending lower. The Nifty PSU Bank index was the worst-performing major sector, while the Nifty Midcap 100 and Smallcap 100 declined 1.63% and 1.85%, respectively.

The rupee weakened 28 paise to 96.03 against the US dollar, while Brent crude jumped 3.81% to $108.30 a barrel.

Global Markets Update

Wall Street closed lower on Monday amid fresh US-Iran tensions. The Dow Jones Industrial Average fell 0.67% to 51,481.51, while the S&P 500 slipped 0.77% to 7,683.69. The Nasdaq Composite lost 0.92% to 26,820.38.

European markets finished mixed. The FTSE 100 fell 0.097% to 10,684.88, while France's CAC 40 edged up 0.0084% to 8,078.48.

Asian markets were weaker. Japan's Nikkei 225 fell 0.73% to 65,877.62, while South Korea's Kospi dropped 2.70% to 6,889.74.

GIFT Nifty Today

At 7:45 am on 29 September, GIFT Nifty was trading at 22,816.50, down 8 points, or 0.04%, pointing to a flat start for Indian equities today.

Nifty 50 Technical Setup

Nifty 50 remains below the 23,000 mark after Monday's decline. Technical analysts see room for a pullback towards 22,800–22,900, although the broader setup remains weak.

A decisive break below 22,700 could bring 22,500 into focus. On the other hand, if the Nifty rebounds and holds above 22,800, the next levels to watch are 23,000–23,200.

The September monthly derivatives expiry is also due on Tuesday, adding another near-term market trigger.

What Could Shape Tuesday's Trade?

India's August industrial production data provided a fresh domestic cue after Monday's close. Index of Industrial Production (IIP) growth accelerated to 8% year-on-year in August from a revised 7.4% in July, with manufacturing rising 9% and electricity and gas supply growing 12.3%. Mining remained weak, contracting 5.6%.

The data comes as the market approaches the end of the September derivatives series on Tuesday. Overseas, investors will also track changing expectations for the Federal Reserve's next rate decision as global inflation concerns remain tied to the Middle East situation.

Also Read - HT Digital Streams Approves 25% Share Buy-Back At ₹87.68