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5th September to 11th September
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| | The markets had everything in the past week. In anticipation that crude oil will rise above $100 per barrel, investors were on tenterhooks for cues. On Monday, the benchmark indices fell as the geopolitical uncertainties remained elevated, and the anticipation of a US Federal Reserve rate hike saw foreign investors pare their Indian share holdings. Escalating US-Iran tensions and disruptions along key shipping routes pushed Brent crude briefly towards $108 during the week. This meant renewed concerns over inflation as rising crude oil prices could inflate India’s import bill and impact corporate margins. The rupee, which had provided support a week earlier, reversed course and weakened towards 96. It added pressure on aviation, automobiles, oil marketing companies and other crude oil dependent businesses. US Treasury yields touched 5%, reviving fears that global interest rates could remain higher for longer and encouraging foreign investors to turn cautious on emerging markets. IT and banking stocks bore much of the selling, while defence, pharmaceuticals and hospitals offered only selective shelter. The week ultimately showed that even when India’s domestic story remains resilient, global oil, interest rates and geopolitics can still decide the market’s direction. | |
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| | Benchmark Index Moves | | Index | | | Nifty 50 | | Sensex | | Bank Nifty |
| | | | Closing Level | | | 23,398.10 | | 74,781.76 | | 56,606.55 |
| | | | % Weekly Change | | | ▼ -1.81% | | ▼ -1.93% | | ▼ -0.91% |
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Market Breadth: The momentum in the markets was negative with total gainers at 2,314 and total losers at 3,252. | |
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| |  | | Top Weekly Gainers & Losers (Nifty 100) |
 Gainers
| Stock Name | % weekly change | Delivery volumes in past week Vs prev month | | Adani Enterprises | ▲ 5.48% | 0.7x | | Max Healthcare | ▲ 4.30% | 1.0X | | Solar Industries | ▲ 3.67% | 0.9X | | Adani Ports | ▲ 3.40% | 1.5X | | Bosch | ▲ 2.95% | 0.9X |
Adani Enterprises surged over 5% after Adani Airport Holdings secured $1 billion from marquee investors to fund airport expansion and airport-city development, strengthening growth visibility for the subsidiary.
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| |  Losers
| Stock Name | % weekly change | Rise in delivery volumes in past week Vs previous month | | Lodha Developers | ▼ -9.49% | 1.0X | | HCL Technologies | ▼ -8.56% | 1.1X | | Infosys | ▼ -8.19% | 1.1X | | United Spirits | ▼ -6.31% | 0.8X | | LTM | ▼ -6.25% | 1.2X |
Infosys shares fell sharply as a broad IT sector sell-off till Thursday as stronger-than-expected US jobs data rekindled fears of further Federal Reserve rate hikes.
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| |  | | Stocks & Sectors in the News |
 | Automotive and Auto Components | What happened Bosch and two-wheeler maker TVS Motor showed relative strength during the week, but the broader auto index remained under pressure. Hero MotoCorp, Ashok Leyland, Bharat Forge, Maruti Suzuki and Mahindra & Mahindra were among the notable laggards.
Why it happened As Brent crude crossed $100, concerns rose about fuel costs, freight expenses and consumer spending, while a weaker rupee increased the cost of imported components. The result was selective buying rather than a sector wide recovery. | Which stocks moved | ▼ | Tube Investments | | ▼ | TVS Motor | | ▼ | Ashok Leyland |
| | ▲ | Bosch | | ▼ | Hero MotoCorp | | ▼ | Bharat Forge |
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|  | Banking and Financial Services | What happened
Banks briefly attempted a recovery as domestic institutions continued buying, while HDFC Bank’s lending rate reduction offers some support to credit demand. However, it subsequently fell to a fresh 52-week low, while ICICI Bank, Axis Bank, State Bank of India and IndusInd Bank faced selling pressure.
Why it happened
Rising crude oil prices, a weakening rupee and higher global bond yields revived inflation and interest rate concerns. HDFC Bank’s favourable Bahrain court rulings provided limited comfort because broader market risks remained dominant.
| Which stocks moved | ▼ | Kotak Mahindra Bank | | ▼ | ICICI Bank | | ▼ | State Bank of India |
| | ▼ | HDFC Bank | | ▼ | Axis Bank | | ▼ | IndusInd Bank |
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|  | Information Technology | What happened Tech Mahindra and Infosys staged a limited late week recovery, but it was insufficient to offset the sharp decline in Coforge, HCLTech, TCS, Wipro. Why it happened Higher US bond yields and renewed expectations of a US Federal Reserve rate hike weighed on IT stocks. Proposed H-1B visa restrictions raised concerns about higher staffing costs and reduced workforce flexibility for Indian IT companies in the US. Coforge faced additional company specific pressure following chairman O P Bhatt’s resignation due to an internal inquiry identifying wrongdoing on his part. | Which stocks moved | ▼ | Tech Mahindra | | ▼ | Infosys | | ▼ | TCS |
| | ▼ | HCL Tech | | ▼ | Coforge | | ▼ | Wipro |
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|  | Pharmaceuticals and Healthcare | What happened Pharmaceuticals provided pockets of defensive support, with Dr Reddy’s Laboratories, Apollo Hospitals and Max Healthcare attracting buyers during weak market sessions. Shilpa Medicare, Novartis India also gained after company specific announcements. However, the sector later lost momentum, with stocks such as Cipla facing profit booking. Why it happened: Investors initially moved towards businesses considered less sensitive to economic cycles, but part of that defensive trade was reversed as money shifted temporarily towards banks. Shilpa Medicare gained after receiving final regulatory approval for the marketing authorisation of OERIS. Novartis India surged 51% in three sessions after acquiring the Minipress brands and related intellectual property from Pfizer for ₹1,250 crore.
| Which stocks moved | ▲ | Novartis India | | ▼ | Shilpa Medicare | | ▲ | Dr Reddy’s Laboratories |
| | ▲ | Apollo Hospitals | | ▲ | Max Healthcare | | ▼ | Cipla |
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| |  | | Top Delivery-volume Movers (Nifty 500) |
Rising Delivery Volume (Last week vs Prev month) | Stock Name | Avg delivery volume % | Avg month delivery volume % | Avg 6-month delivery volume | | Gland Pharma | 75.05 | 69.05 | 69.05 | | United Breweries | 81.94 | 71.12 | 67.15 | | EIH | 85.95 | 73.76 | 32.79 | | Swiggy | 71.79 | 60.16 | 46.6 | | Nuvoco Vistas | 75.43 | 63.78 | 24.66 |
Gland Pharma’s weekly delivery volumes rose mainly because promoter Fosun sold a 4.5% stake through block deals on 4 September.
Falling delivery volume (Last week vs Prev month) | Stock Name | Avg delivery volume % | Avg month delivery volume % | Avg 6-month delivery volume | | Tenneco Clean Air | 56.13 | 69.11 | 57.46 | | Aster DM Quality Care | 60.38 | 75.2 | 63.68 | | Authum Investment | 45.23 | 58.48 | 29.49 | | Adani Energy | 43.15 | 63.58 | 46.57 | | SBFC Finance | 50.06 | 54.33 | 58.89 |
Tenneco Clean Air saw delivery volumes normalize as no subsequent major company-specific catalyst emerged, after the promoter’s large block deal in August.
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| |  | | Year high and year low in the past week (Nifty 200) |
Stocks that hit their 52-week high:
Solar Industries, Divi's Laboratories, Laurus Labs, One97 Communications, Lenskart Solutions, and Vodafone Idea
Stocks that hit their 52-week low:
Shree Cement, Alkem Laboratories, Britannia Industries, PI Industries, Hindustan Unilever, SBI Life Insurance, ICICI Lombard General Insurance, Blue Star, Voltas, Havells India, Tata Consumer Products, Godrej Consumer Products, HDFC Bank, HDFC Life Insurance, Indian Railway Catering and Tourism Corporation, Ambuja Cements, Dabur India, Bank of Baroda, Rail Vikas Nigam, Wipro, and Indian Railway Finance Corporation
Kanohar Electricals IPO received an exceptionally strong response, with bids of 90.59 times the available shares on offer, led by institutional investors. Prasol Chemicals IPO was subscribed 3.47 times, with QIBs leading at 7.59 times, while retail and NII portions were place bids for 1.79 times and 1.89 times their available quota. Pranav Constructions IPO saw very robust demand, with investors placing bids for 126.34 times the available shares on offer. This was driven by QIBs bidding of 268.54 times, and HNIs bid for 217.73 times their available quota. | |
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 Note: The stocks given in the table above are only for informational purposes and are not recommendations. | |
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| |  | | Research Calls (Long-Term) |
| Research Partner | Date of call | Stock | View | Target Price (₹) | | Markets Mojo | 8th Sept | Uflex | BUY | 621.85 | | William O’ Neil India | 27th Aug | Aditya Vision | BUY | 575.00 |
Here is how some of the expert research calls are performing | Research Partner | Date of call | Stock/Scrip | Entry Price (₹) | Price movement since call (%) | | Markets Mojo | 25th Aug | Solara Active Pharma Sciences | 547.55 | 37.33% |
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| |  | | Commodity Moves |
| |  | | Brent Crude | | | |  | | Gold Futures | | | |  | | Silver Futures | | | |  | | Natural Gas Futures (NYMEX) | | | |  | | Copper Futures | |
| | | | $105.60 | | | | $4,524.15 | | | | $64.53 | | | | $2.819 | | | | $6.57 | |
| | | | 9.68% | | | | -1.87% | | | | -3.33% | | | | -5.24% | | | | -1.63% | |
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| |  | | Forex Moves |
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| |  | | FIIs vs DIIs |
Last week | | (In ₹ crore) | Cash (provisional) | Index Futures | Stock Futures | Index Options | Stock Options | | | | FIIs | -3,976.20 | -7,323.30 | -4,088.90 | 17,093.40 | 1,332.00 | | | | DIIs | 13,381.30 | -332.10 | -3,873.40 | -319.20 | -3,810.70 | |
Year-to-date | | (In ₹ crore) | Cash | Index Futures | Stock Futures | Index Options | Stock Options | | | | FIIs | -3,57,545.00 | -92,688.20 | -17,961.60 | -6,48,302.90 | -43,088.50 | | | | DIIs | 5,86,523.40 | 3,450.50 | 13,933.00 | 7,970.30 | -166,928.90 | |
Note: FII data is as of 10th September 2026 and DII F&O data up to 8th September 2026 only. | |
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| |  | | Global Signals | |
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Aisan Markets
There were pockets of strength in technology and semiconductor shares, but the mood changed quickly as oil prices climbed. By the end of the week, fears of higher inflation and interest rates triggered broad selling. Japan and South Korea were hit particularly hard, while energy-related shares held up better than most sectors.
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European Markets
European markets spent the week caught between expensive energy and tighter monetary policy. Oil’s rise above $100 per barrel hurt travel, industrial and consumer-facing shares, although energy companies found some support. The European Central Bank then raised interest rates by 25 basis points, reinforcing concerns that inflation may stay high even as economic growth slows.
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US Markets
Wall Street’s early caution turned into a four-session decline as rising oil prices revived inflation fears. The US 10-year bond yield moved close to 5%, putting pressure on technology and other rate-sensitive shares, while energy stocks remained relatively resilient. Investors were also cautious ahead of key inflation data and the US Federal Reserve’s rate action.
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Next week, the market’s direction may hinge on two global signals: whether crude cools from above $100 and what the US Federal Reserve signals on interest rates. India’s inflation data, the rupee and foreign flows will show whether domestic markets can regain their footing or remain guided by events overseas. | |
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| |  | | Upcoming events (12th September 2026 to 18th September 2026) |
Macroeconomic events & Earnings 14
September
WPI Inflation (India)
| | 15
September
Unemployment Rate (India)
| | 15
September
Goods Imports (India) | | 16
September
Central Bank Policy Rate (US) |
You can explore our Events calendar feature on the home page & set alerts on your calendar! | |
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September 11, 2026 | 21 mins read
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