Stock market today: Will Sensex, Nifty open higher? HDFC Bank to be in focus
Benchmark indices are expected to open higher on Tuesday, with GIFT Nifty pointing to a positive start after the Sensex and Nifty ended lower on Friday. However, elevated crude oil prices, rising global bond yields and concerns over the Federal Reserve's interest-rate decision could limit gains.
GIFT Nifty was trading at 23,522, up 78.50 points, or 0.33%, as of 8:04 am. This suggests a positive opening for the Nifty 50, which closed at 23,398.10 on Friday. Markets were closed on Monday for a holiday.
Investors could look for bargains after the Nifty 50 and Sensex lost around 4.8% each over the past five weeks. However, the positive opening may not necessarily translate into a sustained recovery as several global and domestic concerns remain in focus.CRUDE OIL REMAINS A KEY RISK
Crude oil prices continue to remain elevated amid concerns that the Middle East conflict could spread further and disrupt global energy supplies.
Brent crude was trading at $107 a barrel, up 1.25%, while WTI crude stood at $102.77, up 1.36%.
Yemen's Iran-aligned Houthis have launched a new wave of attacks on Saudi Arabia and strengthened positions along Yemen's western coast near the Red Sea, according to the Reuters input. Gulf Arab states have also postponed planned talks with Iran, adding to concerns over a wider regional conflict.
Higher crude prices are a concern for India, the world's third-largest oil importer, as they can raise the import bill and add to inflationary pressures.US FED RATE DECISION IN FOCUS
Investors will also keep a close eye on the US Federal Reserve's policy decision later this week. Rising oil prices have added to inflation concerns and increased expectations of tighter monetary policy.
The US 10-year Treasury yield touched 5% on Monday for the first time since October 2023. Higher bond yields can weigh on equities by making fixed-income assets more attractive and increasing concerns over global capital flows.
India's retail inflation also accelerated in August as price pressures spread beyond food and transport, according to the Reuters input, adding another layer of uncertainty ahead of the Reserve Bank of India's policy decision next month.HDFC BANK IN FOCUS
HDFC Bank is likely to remain in focus after the country's largest private lender sent the names of two candidates to the Reserve Bank of India for the role of CEO.
The move formally starts the succession process for Sashidhar Jagdishan, who is due to retire later this year. HDFC Bank is a heavyweight on the Nifty 50, making the development relevant for the broader benchmark.
Abitro Mukherjee, Deputy Vice President-Research, Bajaj Broking, said that the immediate bias for the Nifty remains down.
"Strength above 23,500 will signal pullback towards 23,650 levels in the coming sessions. Failure to do so will signal some consolidation in the range of 23,230-23,500," Mukherjee said.
For the current session, he sees resistance at 23,500 and 23,630, while support is placed at 23,310 and 23,230.
He said a sustained move above 23,500 could signal a pullback, while a break below the previous week's low of 23,231 could open the way towards the June low of around 23,070.
"Index on the daily chart formed a bullish candle with a lower high and a lower low. The index opened lower and formed an intraday low of 23,231 in opening trade. Nifty recovered more than 150 points from the day low to close the session marginally lower around the 23,400 levels," said Mukherjee.
"Going ahead, strength above 23,500 will signal pullback towards 23,650 levels in the coming sessions. Failure to do so will signal some consolidation in the range of 23,230-23,500," he added.- EndsPublished By: Sonu VivekPublished On: Sep 15, 2026 08:27 IST
