Monday, 28 September 2026. This is what changed between Friday's close and this morning, taken from public data and news reports. It is a list of events and numbers, not a view on where the market goes next: I don't publish levels, targets or trade ideas.
The GIFT Nifty figure is live as of 7:49 AM IST; the other rows show when each figure was reported.
Global cues this morning
| Market | Latest | Change | As of |
|---|---|---|---|
| GIFT Nifty | 23,103.50 | −132.5 pts (−0.57%) | 7:49 AM IST |
| Nikkei 225 | — | +0.89% | Early trade, Monday |
| Topix | — | +0.48% | Early trade, Monday |
| Kospi | — | −0.46% | Early trade, Monday |
| Hang Seng futures | — | Little changed | Early trade, Monday |
| Brent crude | $106.14 | +1.7% | 3:32 AM IST |
| WTI crude | $93.55 | +1.2% | 3:32 AM IST |
| US stock futures | — | Slightly lower | Sunday night, US time |
| US dollar / yen | 157.70 | Yen 0.3% weaker | Early trade, Monday |
GIFT Nifty's Monday session opened at 6:30 AM. It is the first session to trade after Trump's rejection of Iran's plan on Saturday, and by 7:49 AM it was 132.5 points, or 0.57%, below its previous close of 23,236. Its low so far is 23,098.
Oil rebounded in early Asian trade on Monday after the rejection, with Brent up 1.7% from Friday's settlement. In Asia, Japan's markets rose while South Korea's Kospi slipped.
A Bloomberg report carried by CNBC-TV18 said traders are fully pricing in at least one more 25 basis point rate hike by the US Federal Reserve before the end of the year.
Friday's numbers
| Market | Last | Change | As of |
|---|---|---|---|
| Nifty 50 | 23,140.50 | +0.34% | Friday's close |
| Sensex | 73,895.74 | +0.43% | Friday's close |
| Bank Nifty | 55,580.40 | +0.26% | Friday's close |
| India VIX | 12.16 | −4.18% | Friday's close |
| Brent crude | $104.32 | −2.1% | Friday's settlement |
| WTI crude | $92.41 | −2.3% | Friday's settlement |
| US 10-year yield | 5.18% | Highest since 2007 | Friday |
| Dow Jones | 51,828.62 | +0.93% | Friday's close |
| S&P 500 | 7,743.41 | +0.51% | Friday's close |
| Nasdaq | 27,068.72 | +0.48% | Friday's close |
| USD/INR (Sep futures) | 95.77 | — | Friday's close |
Over the week, the Nifty fell 0.88% and the Bank Nifty 1.38%.
On Friday, foreign institutional investors sold a net ₹3,693.93 crore of Indian shares and domestic institutions bought a net ₹2,838.17 crore, according to NSE's provisional data.
Iran's Hormuz plan, and Trump's reply
On Friday, at the UN General Assembly, Iran's foreign minister Abbas Araghchi set out a seven-day plan. The US would release frozen Iranian funds, lift oil sanctions and end its naval blockade of Iranian ports. Araghchi said those steps could be done in four or five days, after which the Strait of Hormuz would reopen and talks on a final agreement would begin by day seven.
On Saturday, President Donald Trump said at the White House that the plan was not acceptable.
Araghchi replied the same day that Iran would not back down on its conditions, that it was waiting for the positions passed on through mediators, and that only a negotiated settlement could end the deadlock.
Oil fell on Friday, before the rejection
Brent settled at $104.32 a barrel on Friday, down 2.1%, and WTI at $92.41, down 2.3%, as hopes grew for a US–Iran truce. For the week, Brent rose 0.4% and WTI fell 7.9%.
Those prices were set before Trump's comments on Saturday, so Friday's fall does not include his rejection of the plan. When trading reopened, oil moved back up: by 3:32 AM IST on Monday, Brent was at $106.14 and WTI at $93.55.
Wall Street rose while bond yields climbed
US stocks ended Friday higher: the Dow Jones gained 0.93%, the S&P 500 0.51% and the Nasdaq 0.48%. Microsoft rose about 4% after revamping its Copilot assistant with code-generation and AI agent tools.
The US 10-year Treasury yield reached 5.18%, its highest since before the 2008 financial crisis. It had crossed 5.1% for the first time in 19 years on Wednesday. US bond yields are one of the things foreign investors weigh when deciding where to put money, which is why they get watched alongside FII flows.
GIFT Nifty over the weekend
GIFT Nifty's Saturday session ended with a last trade of 23,237.50, up 0.21%; its official closing price, which Monday's change is measured from, is 23,236. That session closed in the early hours of Saturday, India time, before Trump spoke. Monday's session, above, is the first to include his comments.
At home: bank strike deferred, forex reserves lower
The United Forum of Bank Unions (UFBU) has deferred the three-day nationwide bank strike it had called for 28 to 30 September. The decision came after a late-night meeting with the Indian Banks' Association on 27 September, where both sides agreed to set up a high-level committee to discuss the unions' demand to make the remaining Saturdays holidays. The unions' demands include a five-day banking week and the withdrawal of a new performance-linked incentive scheme for officers in Scale IV and above.
India's foreign exchange reserves fell by $14.88 billion to $765.90 billion in the week ended 18 September, according to RBI data released on Friday, mainly because foreign currency assets fell. In the previous week, reserves had dropped $4.92 billion to $780.78 billion.
This week's calendar
- Tuesday, 29 September: monthly expiry of Nifty futures and options.
- Friday, 2 October: markets closed for Gandhi Jayanti, so this is a four-session week.
What I check at 9:00
These are the data points I look at before the open this morning, not a forecast:
- Where GIFT Nifty is by 9:00 compared with its 7:49 AM level.
- Brent crude, which is back above $106 after the weekend news.
- The rupee when currency trading opens at 9:00, given Friday's reserve data and FII selling.
Sources
- GIFT Nifty (live) and USD/INR: Zerodha Kite market data
- Oil on Monday: Reuters via Investing.com
- Asian markets, the yen and rate expectations: CNBC-TV18
- US stock futures: CNBC
- Iran's plan and Trump's reply: Al Jazeera, NPR
- Oil settlements: Reuters via Yahoo Finance, EnergyNow
- US stocks and the 10-year yield: Yahoo Finance, CNN
- Index closes and Saturday's GIFT Nifty: Mint, NSE
- FII and DII flows: NSE provisional data
- Bank strike: The News Mill (ANI)
- Forex reserves: Business Standard
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security. I am not registered with SEBI as an investment adviser or research analyst.