Indian equity markets opened lower on Monday, August 17, 2026, as GIFT Nifty indicated a negative start. Asian shares traded mixed amid rising oil prices, which have heightened inflation concerns.
On Friday, August 14, the NSE Nifty50 declined 29.85 points, or 0.12%, to settle at 24,366, while the Sensex fell 70.71 points, or 0.09%, to close at 78,009.25. The broader market faced more pressure with the Nifty Smallcap 100 and Nifty Midcap 100 indices each falling around 0.7%. The primary market is also gearing up for a busy week with nine IPOs set to raise approximately ₹7,100 crore.
Oil prices climbed more than 1% in early Asian trade on Monday due to slowed tanker traffic through the Strait of Hormuz, amid ongoing US-Iran tensions. This has kept inflation concerns elevated, impacting market sentiment. In other market movements, US futures for the S&P 500 and Nasdaq 100 Index advanced after a slowdown in US consumer spending was observed last Friday.
SBI Securities has identified immediate resistance for the Nifty in the 24,500-24,550 zone, with potential for a pullback towards 24,700 and 24,850 if this range is surpassed. Immediate support is seen at 24,230-24,200.
The GIFT Nifty traded lower by 40 points, or 0.16%, at 24,391, indicating a negative start for Dalal Street on Monday. The Indian stock market remained range-bound last week, with the Sensex declining by around 500 points and the Nifty falling 205 points.
Background
The Indian stock market has been experiencing volatility due to a combination of global economic indicators and geopolitical tensions. Rising oil prices, in particular, have been a significant concern for investors as they contribute to inflationary pressures.
As the week progresses, investors will continue to monitor key economic indicators and geopolitical developments. The outcome of the IPO rush and movements in oil prices will be crucial for market direction.
