Indian stock market today: Sensex, Nifty fall as US-Iran tensions, higher yields weigh, HDFC Bank lead gains

Equity benchmarks opened lower on Monday as higher bond yields and renewed geopolitical tensions weighed on market sentiment. The Sensex opened 134 points below Friday’s close, while the Nifty 50 dipped 58 points.

At 9,51 am, Sensex fell 350.88 points or 0.45 per cent to 76,913.63, hitting a low of 76,869.59. Nifty 50 depreciated 140.25 points or 0.58 per cent to 24,035.40.

Global sentiment weakened after US forces struck two Iranian launchers, marking the first known American strikes on Iran since late July. Brent crude was trading around $90 a barrel, up about 2 per cent amid renewed US-Iran tensions.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said the market was facing a few headwinds at the start of the week. He said sentiments had turned slightly negative following Fed chief Kevin Warsh’s statement that if inflation persists above the Fed’s long-term target, “we have work to do”.

According to Vijayakumar, the market has interpreted this as an indication of a rate hike at the FOMC meeting scheduled for September 15-16, with the consequent rise in bond yields negative for equity markets. He also pointed to renewed US-Iran tensions pushing Brent crude above $90.

Broader market weak

Broader markets also declined, with the Nifty Midcap 100 and Nifty Smallcap 100 down 0.76 per cent and 0.90 per cent, respectively.

Only private banks posted mild gains among sectors. Metal, media, realty and IT stocks led the declines, falling 1-2.5 per cent.

Metals reacted as bond yields remained elevated after investors narrowed the odds of a US rate hike.

HDFC Bank leads Nifty 50 gainers

Among Nifty 50 stocks, HDFC Bank, Eternal, Bajaj Auto and ONGC led the gainers. Adani Enterprises,Hindalco, Infosys, Nestle India, JSW Steel and Tata Steel were among the top losers.

HDFC Bank, the heaviest-weighted stock, rose more than 2 per cent after the lender said CEO Sashidhar Jagdishan had decided not to seek reappointment when his current term ends in late October.

“We view it as a net positive, as it rules out the more feared scenario of a short, RBI-restricted term, and opens up an natural opportunity for the incoming leadership to reset the bank’s narrative,” Bernstein said.

At the time of writing, 2,999 stocks were traded on the NSE, with 1,033 advancing, 1,819 declining and 147 remaining unchanged. As many as 78 stocks hit 52-week highs and 53 hit 52-week lows. Meanwhile, 68 stocks hit the upper circuit and 36 hit the lower circuit.

Midcap and smallcap movers today

Within the Nifty Midcap 100, Oil India, Lenskart, Tata Investment, MCX and Nykaa led the gainers. NALCO, KPIT Tech, Persistent Systems, Tata Elxsi and MphasiS fell 2-3 per cent.

In the small-cap basket, Ather Energy, IGL, GPIL, CUB and MRPL gained 1-3 per cent, while Jyoti CNC, Kaynes Tech, Wockhardt and Manappuram Finance declined 2-3 per cent.

Global cues, events

Domestic equities remained volatile last week and ended lower, with the Nifty 50 posting its third consecutive weekly decline. Market sentiment was weighed down by continued geopolitical uncertainties, volatile crude prices and increased volatility following the implementation of the new closing auction mechanism.

US equities closed slightly lower on Friday, led by a 0.5 per cent decline in the Nasdaq, as expectations of a September Fed rate hike gained traction following Kevin Warsh’s hawkish tone at the Jackson Hole symposium.

Commodity markets

In commodity markets, Brent crude was around $90 a barrel, up about 2 per cent amid renewed US-Iran tensions. Gold fell 1.0 per cent to $4,405 an ounce after declining 3.2 per cent on Friday as yields spiked.

Asian equities opened the week under pressure, with major markets declining.

Vijayakumar said that even if the Nifty comes under pressure, there was likely to be significant action in the broader market, which had been attracting big buying in recent weeks. He also highlighted a recent trend of the market giving more preference to growth than value.

On Friday, benchmarks closed higher aided by IT stocks rally. Sensex settled 330.92 points or 0.43 per cent higher at 77,264.51, and Nifty 50 gained 84.80 points or 0.35 per cent to 24,175.65.

Key events scheduled for Monday include India’s GDP growth rate and the US Dallas Fed Manufacturing Index. Augmont Enterprises is set for its exchange debut. Jio Platforms Ltd has received SEBI’s observation letter on the DRHP submitted for its proposed IPO.

In addition, equity benchmarks could witness sharp swings in the final minutes of Monday’s trade as MSCI-linked investors adjust their portfolios ahead of the rebalancing, putting the new closing auction system to its first major test.

Published on August 31, 2026