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Trendlyne Marketwatch
09 Sep 2026
Market closes lower as Brent crude touches $100 amid Middle East tensions
By Trendlyne Analysis

 

Nifty 50 closed at 23,431.50 (-203.6, -0.9%), BSE Sensex closed at 74,764.23 (-813.4, -1.1%) while the broader Nifty 500 closed at 22,958.75 (-147.4, -0.6%). Market breadth is in the red. Of the 2,840 stocks traded today, 1,153 were in the positive territory and 1,640 were negative.

Indian indices closed lower as Brent crude oil touched $100 per barrel amid escalating tensions in the Middle East. The Indian volatility index, Nifty VIX, rose 6.8% and closed at 11.9 points. Adani Enterprises closed higher after its subsidiary, Adani Airport Holdings, announced plans to raise Rs 9,825 crore from investors including Alpha Wave Global, Premji Invest, Temasek and BlackRock for a 5.5% stake.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty IT and BSE IT Sector are among the top index losers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the worst-performing sector of the day, with a fall of 2.1%.

Asian markets closed lower, except for South Korea's KOSPI. European markets traded lower. US index futures traded lower. Meanwhile, Brent crude oil prices touched $100 per barrel after Iran’s Revolutionary Guard said it had struck a US military base in Jordan and targeted 10 ships in the Strait of Hormuz. Investors also track fresh US-Canada trade tensions after Trump signed orders banning some Canadian imports from September 29.

  • Relative Strength Index (RSI) indicates that stocks like Lenskart Solutions, Sudeep Pharma and ASM Technologies are in the overbought zone.

  • GPT Infraprojects rises as its subsidiary wins a Rs 114.8 crore order from Northeast Frontier Railway for signalling works across 10 stations.

  • Cochin Shipyard's board of directors approves forming a joint venture (JV) with Drydock World Dubai FZCO to manage and operate its international ship repair facility (ISRF) at Wellington Island. The facility will undertake dry-docking, maintenance, repair and overhaul of commercial and naval vessels below 130 meters of length and 6,000 tonne weight.

  • Biocon reportedly sees around 1% stake change hands in a block deal worth over Rs 635 crore at Rs 385 per share.

  • Jefferies sees India’s textile sector entering a multi-year structural growth cycle, driven by global China+1 sourcing and the country’s integrated supply chain, skilled workforce and policy support. The UK FTA, effective July 2026, cuts textile tariffs from 4-12% to near zero, while a potential EU FTA from 2027 could open up a $220 billion UK/EU import market, where India currently has just a 5-25% share. The brokerage considers Welspun Living and Raymond Lifestyle as its top picks.

  • Natco Pharma's board of directors approves a Rs 1,300 crore fundraise through a rights issue of equity shares.

  • IIFL Finance denies reports about a potential 13.7% stake sale by Fairfax Financial Holdings to partially fund the acquisition of IDBI Bank.

  • Innovision surges as it wins two NHAI contracts worth Rs 243.6 crore to collect tolls and maintain facilities at highway plazas in Madhya Pradesh.

  • Brent crude oil rises to $100 a barrel for the first time since July 24, as escalating attacks across the Middle East raise concerns over potential disruptions to oil supplies from the region. US strikes on Iranian tankers near the key crude-export hub of Kharg Island further fuel fears of disruptions in the Strait of Hormuz. The global crude benchmark is now up more than 60% this year.

  • Power Mech Projects is rising as it secures an order worth Rs 970 crore from Vedanta Power for operations and maintenance of its 1,200 MW Sakti Thermal Power Plant in Chhattisgarh.

  • Electrode manufacturers like Graphite India and HEG are soaring as US-based GrafTech International hikes prices by 30%, raising expectations of stronger realisations and margins for Indian manufacturers.

  • Coforge plunges as chairman OP Bhatt resigns with immediate effect as an internal audit finds that key information about his performance was not fully disclosed to the board.

  • NSE is reportedly looking to price its IPO at Rs 1,700-1,785 per share, below the earlier indicated range of Rs 2,000-2,100, with the issue expected to raise up to Rs 24,300 crore at a valuation of Rs 4.42 lakh crore. The exchange may also lower the stake on offer to around 5.5% of its total equity capital from the initially planned 6%, as some shareholders have opted not to sell at the lower price.

  • Adani Enterprises is rising sharply as its subsidiary, Adani Airport Holdings, plans to raise Rs 9,825 crore from a consortium of investors including Alpha Wave Global, Premji Invest, Temasek and BlackRock for a 5.5% stake. Under the deal, Adani Airport will issue fresh shares to the consortium, while Adani Enterprises will remain the controlling shareholder. The funds will be used to expand & modernise the airport network, develop airport-linked commercial infra and scale related businesses like ground handling and passenger services.

  • ASM Technologies surges to its all-time high of Rs 6,990 after its board approves a preferential issue of 10.8 lakh shares at Rs 4,875 each, raising up to Rs 526 crore. The shares will be allotted to four investors, including SBI Mutual Fund schemes.

  • Steel Exchange India surges as it signs an MoU with NMDC for long-term iron ore supply, helping secure raw materials, lower freight costs and support higher production.

  • Jio Financial Services CEO Hitesh Sethia says the company aims to more than triple, and potentially nearly quadruple, its current customer base of around 25 million over the next year. Of its existing customers, approximately 9 million are active. The company plans to leverage its wider Jio ecosystem and expand the breadth of financial products available through its marketplace to drive customer acquisition and engagement.

  • Fermenta Biotech rises as it signs an exclusive licence deal with VIT to commercialise Vitamin B12 technology for fermented foods, expanding its food-fortification portfolio.

  • Larsen & Toubro is rising as its Energy Hydrocarbon Offshore business secures an order worth Rs 2,500-5,000 crore from ONGC for offshore development projects on India’s west coast. The work includes building four offshore platforms, subsea pipelines and cables, along with upgrades to existing facilities.

  • Newquest Asia Fund IV (Singapore) sells 80 lakh shares of Shadowfax Technologies worth Rs 200 crore through a bulk deal at an average price of Rs 250 per share. Oxbow Master Fund buys 47.9 lakh shares.

  • Maruti Suzuki India is reportedly exploring exports of its Flex-Fuel Wagon R to Brazil amid weak domestic demand. The company continues to pursue cost-cutting measures but says persistent input-cost pressures may require partial price hikes, while minimising the impact on customers.

  • Pitti Engineering rises as it receives approval from the National Company Law Tribunal (NCLT) to merge its subsidiaries Pitti Industries and Dakshin Foundry with itself.

  • Laxmi Organic Industries' board of directors appoints Executive Chairman Harshvardhan Goenka as the Managing Director (MD) and Chief Executive Officer (CEO), succeeding Dr Rajan Venkatesh, effective November 13. Dr Rajan Venkatesh tenders his resignation as part of the planned leadership transition.

  • Enviro Infra Engineers rises sharply as its subsidiary, Suyog Urja, secures a Rs 190 crore order from Tata Power Renewable Energy for engineering, procurement, and construction (EPC) works on a 180 MW NTPC wind project in Maharashtra. The project is scheduled for completion by March 2027.

  • NLC India is rising as its subsidiary, NLC India Renewables, emerges as the preferred bidder to develop a 200 MW wind project for SJVN. The project is under SJVN's 600 MW ISTS-connected wind power tender.

  • Nifty 50 was trading at 23,500.45 (-134.7, -0.6%), BSE Sensex was trading at 75,216.22 (-361.4, -0.5%), while the broader Nifty 500 was trading at 23,000.70 (-105.4, -0.5%).

  • Market breadth is in the red. Of the 2,267 stocks traded today, 917 were gainers, and 1,262 were losers.

Riding High:

Largecap and midcap gainers today include Jindal Stainless Ltd. (786.20, 6.4%), Adani Enterprises Ltd. (3,104.70, 5.1%) and One97 Communications Ltd. (1,751.50, 4.9%).

Downers:

Largecap and midcap losers today include Coforge Ltd. (1,845, -5.4%), Infosys Ltd. (1,035, -4.3%) and Lodha Developers Ltd. (1,166, -3.8%).

Movers and Shakers

22 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Graphite India Ltd. (843, 14.8%), Chennai Petroleum Corporation Ltd. (1,596.50, 9.5%) and Jindal Stainless Ltd. (786.20, 6.4%).

Top high volume losers on BSE were Coforge Ltd. (1,845, -5.4%), HDFC Life Insurance Company Ltd. (514, -3.7%) and DLF Ltd. (655.10, -3.0%).

Sarda Energy & Minerals Ltd. (547.50, 5.3%) was trading at 12.3 times of weekly average. OneSource Specialty Pharma Ltd. (1,540, -2.5%) and Mangalore Refinery And Petrochemicals Ltd. (184, 6.4%) were trading with volumes 9.9 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

17 stocks took off, crossing 52 week highs, while 22 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Divi's Laboratories Ltd. (9,488, -0.9%), Finolex Cables Ltd. (1,346, 3.4%) and Redington Ltd. (378.50, 1.3%).

Stocks making new 52 weeks lows included - Blue Star Ltd. (1,456.90, -0.3%) and Dabur India Ltd. (371.55, -0.9%).

12 stocks climbed above their 200 day SMA including Jindal Stainless Ltd. (786.20, 6.4%) and Coal India Ltd. (431, 2.6%). 12 stocks slipped below their 200 SMA including Tech Mahindra Ltd. (1,508, -3.3%) and Persistent Systems Ltd. (5,419, -2.5%).

 
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