Sensex, Nifty edge up in green despite Brent Crude breaching USD 100 mark

Indian benchmark indices opened higher on Thursday, September 10, 2026, despite international Brent crude prices surpassing the USD 100 per barrel threshold amid escalating geopolitical tensions.

The BSE Sensex closed at 74,832.29 points, up 68.06 points or 0.09 percent. The NSE Nifty 50 finished at 23,446.60 points, up 15.10 points or 0.06 percent.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted that the market had dipped below the 23,500 resistance level, weakening the market construct. He warned that the market remains vulnerable to further correction and that macro‑fundamental trends are deteriorating. Vijayakumar added that Brent crude had spiked above USD 101 and that the U.S. 10‑year Treasury yield had risen to 4.83 percent.

At the time of reporting, Brent crude was priced at USD 101.02 per barrel, down 0.18 percent. Crude oil overall edged up by USD 0.05 (0.05 percent) to USD 96.10. Gold gained USD 9.65 (0.22 percent) to reach USD 4,407.80 per ounce.

Vijayakumar said the probability of a Federal Reserve rate hike this month had increased, adding to market concerns. He also highlighted that geopolitical tensions in the Middle East were worsening and that the market was not responding to U.S. President Trump’s statement that the conflict would end immediately after the mid‑term elections.

He cautioned that if crude prices remain above USD 100 for an extended period, it could impact India’s GDP growth and corporate earnings. Energy‑sensitive sectors such as aviation, paints, adhesives, tyres and chemicals were identified as likely to be affected, while defensive sectors like FMCG, pharmaceuticals and healthcare were expected to remain resilient. Digital platform companies were projected to maintain strong footing.

Vijayakumar also noted that large private‑sector banking stocks were technically weak but fundamentally strong, offering a favorable risk‑reward ratio for long‑term investors.

Rajesh Palviya, Head of Research at Axis Direct, observed that Asian markets were trading lower, reflecting a cautious global tone as elevated crude prices weighed on risk appetite. He said gold remained near USD 4,400 per ounce on safe‑haven demand, while Brent above USD 101 per barrel continued to be a significant inflationary headwind for India.

At the time of reporting, Asian indices were lower: Japan’s Nikkei 225 down 0.71 percent, Hong Kong’s Hang Seng down 1.51 percent, and the Straits Times down 0.67 percent. GIFT Nifty traded marginally higher at 23,513.50 points.

In the United States, Dow Jones futures were up 0.35 percent, while the S&P 500 was down 0.48 percent at 7,636.36 points and the Nasdaq was down 0.64 percent at 26,253.34 points.

Palviya added that the Nifty’s immediate support was near 23,350, and a decisive break below this level could push the index toward 23,150. He advised traders to remain cautious, as volatility was likely to stay elevated until crude prices moderated or geopolitical tensions eased.

Source: Singapore Star, September 10, 2026.

Article and image source: singaporestar.com