Indian Indices Rise as Crude Oil Prices Decline

Indian benchmark indices opened higher on September 23, 2026, as declining crude oil prices boosted investor sentiment. The Sensex surged over 200 points, and the Nifty climbed above 23,300, supported by Brent crude trading below $100 per barrel.

Metal and FMCG stocks led the gains, with Tata Steel, Bajaj Finance, and Bajaj Finserv among the top performers. In contrast, the IT and Pharma sectors faced pressure, resulting in losses for companies such as TCS and Infosys.

V K Vijayakumar, Chief Investment Strategist of Geojit Investments Limited, noted a valuation dichotomy where attractively valued large-caps coexist with highly valued mid- and small-caps. He warned that valuations in the smaller segments are becoming stretched, though growth prospects continue to attract investment.

Market analysts highlighted that while domestic liquidity and institutional buying provide support, the market remains pressured by continued selling from foreign institutional investors. Technical analysis suggests the Nifty's recovery depends on its ability to hold current zones and reclaim levels between 23,400 and 23,500.