Sensex falls 48 points while Nifty slips below 22,650 as investors remain cautious amid higher crude prices and uncertainty over US-Iran talks
Mumbai, Sept 2026 : Benchmark equity indices extended their decline for the third consecutive session on Wednesday, with rising crude oil prices and fading hopes of a breakthrough in talks between the United States and Iran weighing on investor sentiment.
The Sensex fell 48.78 points, or 0.07 per cent, to close at 72,480.29, while the Nifty declined 95.75 points, or 0.42 per cent, to settle at 22,620.45.
The weakness in the benchmark indices came amid renewed concerns over the impact of higher crude oil prices on inflation, corporate earnings and overall economic growth. Investors remained cautious as they assessed developments in global markets and the broader macroeconomic outlook.
Market analysts said the Nifty’s immediate support zone remains between 22,600 and 22,550. A sustained break below the 22,500 level could potentially expose the index to further downside towards 22,300.
“On the options front, Call OI stands at around 17.11 crore against Put OI of around 10.96 crore, indicating stronger Call-side positioning,” market watchers said.
They noted that significant Call open interest was visible around the 22,700-23,000 strikes, with 23,000 recording the highest Call OI. This, they said, could keep upward movement under pressure in the near term.
“The closing setup remains weak, with 22,600-22,550 as the key support zone and 22,800 as the immediate resistance,” analysts said.
Sectoral performance remained mixed during the session. Healthcare and pharmaceutical stocks came under notable selling pressure, with Apollo Hospitals Enterprise, Max Healthcare Institute and BSE among the major losers in the Nifty index.
The Nifty Healthcare and Nifty Pharma indices were among the weakest sectoral performers. Nifty Consumer Durables and Nifty Metal also ended lower.
However, some sectors managed to buck the broader trend. Nifty Realty, Nifty Private Bank and Nifty Media closed in positive territory, supported by stock-specific buying and selective investor interest.
The broader market demonstrated greater resilience compared with the benchmark indices. The Nifty MidCap 100 index edged up 0.02 per cent, while the Nifty SmallCap index gained 0.27 per cent.
Market participants continued to monitor crude oil price movements closely, particularly because India remains sensitive to changes in global energy prices. A sustained increase in crude prices can influence inflationary pressures and potentially affect corporate margins and economic activity.
Analysts said investors were likely to remain selective in the near term, focusing on companies with stronger fundamentals and relatively resilient earnings.
“Market participants are likely to remain selective, favouring fundamentally strong businesses with resilient earnings profiles until there is greater clarity on the macroeconomic outlook,” analysts said.
With the benchmark indices extending their losing streak to three sessions, traders are expected to track global cues, crude oil prices and developments surrounding US-Iran talks for direction in the coming sessions.
