Pre-Market 8 September 2026: GIFT Nifty Hints At A Muted Start; Oil, Iran Tensions In Focus

Indian equities are set to begin Tuesday's session with crude oil prices and global rate expectations still weighing on the market.

How Did Indian Markets Close?

The Sensex fell 382.62 points to 76,132.81 on Monday, while the Nifty 50 declined 118.55 points to 23,779.15, taking both benchmarks to their lowest levels in six weeks.

Selling was broad during Monday’s session. IT and media stocks took the biggest hits, with the Nifty IT index falling 2.28% as stronger US jobs data lifted expectations of a Federal Reserve rate hike.

Brent crude oil prices rose to around $96.8 a barrel as tensions around the Strait of Hormuz raised fresh concerns over energy supplies. The rupee held near 94.50 against the US dollar despite pressure from higher oil prices.

Global Markets Update

Oil remained at the centre of the global market movements. Iran warned of retaliation against further US attacks and said it plans to announce a new restricted zone in the Gulf. Meanwhile, shipping through the Strait of Hormuz has fallen sharply.

US markets were closed on Monday for the Labour Day holiday. In the previous session, all three major indices ended lower, with the S&P 500 falling 0.38% to 7,718.60, the Dow Jones Industrial Average declining 0.51% to 53,414.25, and the Nasdaq slipping 0.29% to 26,506.99.

European markets were mixed. The FTSE 100 slipped 0.08% to 10,822.13, while the CAC 40 gained 0.33% to 8,306.15.

In Asian markets, Japan’s Nikkei 225 jumped 2.12% to 66,399.84, helped by gains in technology stocks, while Hong Kong’s Hang Seng fell 0.93% to 25,413.12.

GIFT Nifty Today

At 7:54 AM on 8 September 2026, GIFT Nifty was trading at 23,788, down 38.50 points or 0.16%, hinting at a subdued opening for Indian equities today.

Nifty 50 Technical View

The Nifty 50 closed below its immediate support of 23,800 on Monday. The next important support is placed near 23,600, which coincides with the July swing low.

On the upside, the 23,900-24,050 zone is expected to act as a hurdle if the index attempts a recovery.

What Could Shape Tuesday’s Trade?

US rate expectations will stay on the radar as traders wait for the US Consumer Price Index (CPI) report due on Friday. Markets are currently pricing roughly a 60% chance of a US Federal Reserve rate hike this month after the stronger jobs report.

Domestic liquidity is another fresh factor. The Reserve Bank of India (RBI) absorbed more than ₹6 trillion on Monday through cash withdrawal operations. For traders, crude oil prices remain the immediate external variable, while the rupee and any fresh developments around the Strait of Hormuz could add to the day's volatility.

The National Stock Exchange’s (NSE) revised pre-open auction process, which came into effect on Monday, is another operational change to keep in mind at the start of Tuesday’s session.

Also Read - MTAR Technologies Share Price Jumps 5% As Key Client Bloom Energy Enters S&P 500