Nifty Today: Indian stock markets are set to see another closely watched session for Monday, September 21, as the Nifty ended up while the Sensex closed marginally down in the previous session. Sharp swings during the closing auction session added to market volatility, with both benchmark indices dropping sharply before recovering. The Nifty was able to take away its losses and finish in the green.

Investors will now follow up on global and domestic cues including crude oil prices, tensions around the Strait of Hormuz, latest US sanctions on Russia and foreign and domestic institutional flows which could influence the trading mood on Dalal Street for the new week.

Nifty Today: Oil Prices Remain a Key Market Cue

Crude oil prices fell for the third consecutive session on Friday, but oil continued to trade above $100 a barrel. The outlook is uncertain due to the possibility of further supply disruptions in the Middle East.

Oil had climbed close to four-month highs earlier in the week following crude loadings at Saudi Arabia’s Yanbu export hub being suspended. Deliveries to Europe were also cancelled following damage to the East-West pipeline.

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Goldman Sachs has drawn out a scenario in which oil could go as high as $120 a barrel if attacks on vessels in the Middle East intensify. If exports return to normal, the bank expects oil prices to move towards $80 a barrel.

For Indian equities, crude oil remains a crucial factor as increased energy costs can impact inflation, corporate costs and market sentiment.

Strait of Hormuz Tensions Keep Investors Alert

Geopolitical developments around Iran and the Strait of Hormuz are another factor for the Nifty today. Preliminary shipping data showed that only four commodity vessels passed through the Strait of Hormuz on Thursday, compared with a 10-day average of 16.

Iran also declared it had struck an oil tanker from Togo which was attempting to pass through the strategic waterway. Further disruption to oil shipments could continue to fluctuate crude prices and remain an important concern for Indian market participants.

US Russia Sanctions Could Add More Market Uncertainty

US President Donald Trump signed a Russia sanctions package on September 18 which grants the US administration the authority to impose tariffs of up to 100% on the five biggest purchasers of Russian oil or natural gas.

The measure could potentially impact major buyers like India and China, but the tariff provision gives the administration discretionary authorities rather than automatically imposing a 100% tariff.

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The legislation titled, the “Lindsey O. Graham Sanctioning Russia and Iran Act of 2026”, covers Russian officials, banks, energy and defence sectors and the country’s so-called shadow fleet of tankers.

Russian crude accounted for more than 40% of India’s overall oil supplies, according to Reuters. The new US tariff threat could place added pressure on India’s trade and energy policy.

FII-DII Activity and Nifty Technical Setup

Institutional flows are another important factor for the Nifty today. Foreign Institutional Investors remained net sellers for the fifth consecutive week, selling shares worth Rs 7,620 crore.

Domestic Institutional Investors, meanwhile continued their buying streak with net purchases of Rs 11,232 crore.

For September so far, FIIs have recorded net selling of Rs 7,041 crore while DIIs have made net purchases of Rs 36,219 crore. The Nifty was down 3.05% from its August-end close of 24,080.40.

Market Factor Latest Update

FII activity Net selling of Rs 7,620 crore for the fifth straight week

DII activity Net buying of Rs 11,232 crore.

September FII flow Net selling of Rs 7,041 crore.

September DII flow Net buying of Rs 36,219 crore.

Nifty support zone 23,050-23,000

Next support below 23,000 22,700

On the technical front, SBI Securities’ Sudeep Shah said the Nifty continues to trade below its short- and long-term moving averages which are still trending downwards. The daily RSI, however, bounced from a low of 22.23 to 34.17 and recorded a bullish crossover.

The 23,050-23,000 zone has been highlighted as a crucial support area. A big break below 23,000 could pave the way towards 22,700 in the short term, according to the technical setup cited by Economic Times.

Market participants will also look out for developments in Brent crude, US-Iran developments and upcoming US and domestic PMI data for further direction. Sustained FII selling could continue to fuel volatility while continued DII buying may provide support to the overall market.

Disclaimer

This article is for information purposes only and does not constitute investment advice. Investors should evaluate their own risk profile and consult a SEBI-registered investment adviser where appropriate.

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