Gift Nifty Signals Positive Start For Indian Markets; Crude Oil, US Fed Policy In Focus

Last Updated:September 15, 2026, 07:51 IST

Gift Nifty futures trade at 23,529, up 85.5 points, or 0.36%, as of 7:44 am on Tuesday, September 15, indicating that the Nifty could open higher.

Gift Nifty Today.

Gift Nifty Today, September 15: The Gift Nifty was trading higher on Tuesday morning, signalling a positive start for Indian equity markets, even as elevated crude oil prices, rising global bond yields and geopolitical tensions in West Asia are likely to keep gains in check.

Gift Nifty futures were at 23,529, up 85.5 points, or 0.36%, as of 7:44 am on Tuesday, September 15, indicating that the Nifty could open higher.

The positive opening indication comes after the domestic benchmark ended Friday’s session under pressure. However, the overnight global setup remains mixed, with Asian equities struggling for direction amid renewed concerns over energy supplies and uncertainty surrounding global monetary policy.

Oil prices have moved sharply higher amid escalating tensions in West Asia. Renewed attacks involving Iran-aligned groups have raised concerns about potential disruptions to oil infrastructure and shipping routes.

US crude was trading around $102.68 a barrel, while Brent crude stood at about $106.96 a barrel, with both benchmarks gaining more than 1% in the previous session.

For India, persistently elevated crude prices are a key concern because the country is a major oil importer. A sustained rise in crude can increase the import bill, put pressure on the rupee and complicate the inflation outlook.

Global cues mixed

Asian equities were largely subdued in early trade. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.12%, while South Korea’s Kospi declined 0.25%. Japan’s Nikkei, however, edged 0.19% higher after recovering from early losses.

Technology and semiconductor stocks remained mixed. Samsung Electronics fell 0.2%, while Japan’s Kioxia gained 3.3%.

Investor sentiment is also being influenced by renewed concerns over the pace of artificial intelligence development and its potential risks, adding another layer of uncertainty for global technology stocks.

Fed meeting takes centre stage

Global markets are also bracing for the US Federal Reserve’s monetary policy decision. The Federal Open Market Committee begins its two-day meeting on Tuesday, with investors closely watching the central bank’s assessment of inflation, energy prices and the broader economic outlook.

The prospect of higher-for-longer interest rates has already pushed global bond yields higher. The benchmark 10-year US Treasury yield briefly touched 5%, its highest level since 2023. Germany’s 10-year bond yield also moved above 3.51%, while Japan’s benchmark 10-year government bond yield returned to around 3%.

Higher bond yields can weigh on equities by making fixed-income assets relatively more attractive and increasing the discount rate applied to future corporate earnings.

Nifty technical outlook

According to Ponmudi R, CEO of Enrich Money, Indian equities are likely to trade with a cautious bias despite the positive signal from Gift Nifty.

On the technical front, the 23,500-23,600 zone is likely to act as the immediate resistance for the Nifty 50. A sustained move above 23,600 could improve the near-term structure and open the way towards 23,800-24,000.

On the downside, 23,300-23,200 remains the crucial support zone. A decisive break below 23,200 could intensify selling pressure and drag the index towards 23,000.

“While Gift Nifty futures are indicating a technical rebound from last week’s lows, the macroeconomic pressure from higher oil prices amid an uncertain geopolitical backdrop is likely to keep investor sentiment guarded at higher levels,” Ponmudi said.

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What are the key support and resistance levels for the Nifty 50 according to market analysts?

According to Ponmudi R, CEO of Enrich Money, the immediate resistance zone for the Nifty 50 is between 23,500 and 23,600. A sustained move above 23,600 could improve the near-term structure and push the index toward 23,800-24,000. On the downside, the crucial support zone is identified at 23,300-23,200, and a decisive break below 23,200 could drag the index down to 23,000.

Why are rising global crude oil prices a major concern for the Indian economy and stock market?

Persistently elevated crude prices are a major concern because India is a major oil importer. A sustained rise in crude oil prices can increase the country’s import bill, put downward pressure on the Indian rupee, and complicate the domestic inflation outlook.

How have rising global bond yields impacted international financial markets and treasury rates?

The prospect of higher-for-longer interest rates has pushed global bond yields up, with the benchmark 10-year US Treasury yield briefly touching 5%, its highest level since 2023. Additionally, Germany’s 10-year bond yield moved above 3.51%, and Japan’s benchmark 10-year government bond yield returned to around 3%. These higher yields can weigh on equities by making fixed-income assets more attractive and increasing the discount rate on future corporate earnings.

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