Indian Equities Log Sixth Weekly Fall as Oil Weighs; Rupee, Bond Prices Decline

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

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By Dehuti Jani

September 18, 2026 at 12:49 PM IST

Benchmark Indian equity indices ended mixed on Friday, but posted a sixth straight weekly decline, their longest losing streak since 2020, as crude prices keeping above $100 a barrel amid West Asia tensions, and tighter global monetary policy weighed on sentiment. The Nifty50 rose 75.80 points, or 0.33%, to 23,346.40, while the Sensex fell 19.63 points, or 0.03%, to 74,294.96. The Nifty and Sensex fell 0.22% and 0.65%, respectively, during the week.

A decline in oil prices and bargain buying after recent losses offset weak IT and Tata group stocks, while strong demand for domestic IPOs continued to draw liquidity from the secondary market. The $2.3 billion NSE IPO was fully subscribed on its second day of bidding. Adani Ports and Special Economic Zone, Adani Enterprises and Bharti Airtel were among the top Nifty 50 gainers. The Nifty MidCap and SmallCap indices rose 1.24% and 1.74%, respectively, on Friday.

Ten of the 16 major sectoral indices posted weekly losses. On Friday, the Nifty Metal, Realty, Oil and Gas, Cement and Chemical indices outperformed, while Nifty IT declined the most. The broader MidCap and SmallCap indices ended the week down 0.01% and 0.15%, respectively.

The Indian rupee ended at 95.8750 per US dollar, gaining modestly on the day but falling 0.3% on the week. Expectations of higher global interest rates continued to weigh on the currency, while traders said likely intervention by the central bank limited the downside around the 96-per-dollar level.

Indian government bonds ended lower on Friday as longer-duration papers came under pressure following fresh supply worth ₹280 billion, and ahead of the weekend. The benchmark 6.94%, 2036 bond yield rose to 7.0686% from 7.0463%. Traders trimmed long positions after the auction. Meanwhile Brent crude remained near $103 per barrel and the 10-year US Treasury yield approached 4.96%.

Top Movers of the Day

Yatharth Hospital & Trauma Care Services surged 5.74% to ₹1,134.00, hitting a lifetime high and gaining nearly 20% in two sessions after Advent International agreed to invest ₹31.5 billion for a 24.9% stake in the hospital chain.

BEML gained 6% to ₹2,134.50 after securing an order worth more than ₹54 billion from National High-Speed Rail Corporation for the supply and maintenance of high-speed rolling stock for the Mumbai-Ahmedabad bullet-train corridor.

Veegaland Developers listed at ₹154 on the NSE, a 10% premium to its ₹140 IPO price, making a positive debut in the SME segment. The share price ended at ₹145, up 3.64%.

InterGlobe Aviation rose around 1.67% to around ₹4,926 after the airline raised ancillary charges for excess baggage, priority check-in and boarding, and infant travel.

Bombay Burmah Trading Corporation jumped 8.0% to ₹1,512.50 in early trade amid buying interest in the stock. The share price went up following a large block deal of 180 million shares worth ₹2.49 billion.

Tata Chemicals fell around 11.54% to ₹689.40 after Tata Trusts opposed N. Chandrasekaran’s five-year tenure extension and said the reappointment was illegal, while also opposing the proposed Tata Sons listing. The governance dispute triggered selling across Tata group stocks.

Tata Investment Corporation declined 2.55% to ₹700.95 as investors reassessed Tata Sons’ governance and listing plans amid the dispute between Tata Trusts and the holding company.

TCS slipped 3.89% to ₹2,104.90 amid selling across Tata group stocks and the weak broader IT sector.

Kore Digital fell 10% to ₹78.80, hitting lower circuit after SEBI alleged ₹5.41 billion of revenue misstatement, identified non-genuine subsidiaries and barred its MD, CEO and CFO from the capital market.

Futures & Options
The Nifty September 2026 futures closed at 23,380, a premium of 33.60 points over the Nifty 50’s cash-market close of 23,346.40. The Nifty 50 gained 75.80 points, or 0.33%, during the session, while the NSE’s India VIX, a gauge of expected near-term volatility, fell 7.36% to 11.39.

HDFC Bank, Tata Consultancy Services (TCS) and Infosys were the most-traded individual stock futures contracts on the NSE. The September 2026 F&O contracts will expire on 29 September 2026.

Bonds
Indian government bonds ended lower on Friday as longer-duration papers came under pressure following the auction of ₹280 billion worth of fresh supply and ahead of the weekend. The benchmark 6.94%, 2036 bond yield rose to 7.0686%, from 7.0463% on Thursday.

The auction prompted some traders to trim long positions in other longer-tenure bonds, weighing on prices. Short positions also increased in parts of the curve as investors assessed the impact of additional supply on yields.

The five-year benchmark, meanwhile, found some support as traders covered earlier short positions after the auction.

External cues remained unfavourable. Brent crude continued to trade near $103 per barrel, keeping inflation concerns elevated, while the 10-year US Treasury yield edged higher towards 4.96%.

The combination of fresh domestic supply, elevated oil prices and higher global yields kept traders cautious ahead of the weekend.

Forex
The Indian rupee ended at 95.8750 per US dollar on Friday, gaining modestly on the day but posting a 0.3% week-on-week decline. Expectations of higher global interest rates weighed on the currency, while traders said central bank intervention was likely to limit depreciation towards the 96-per-dollar level.

The US Federal Reserve and Bank of Japan raised interest rates this week, joining other central banks in tightening policy as the Iran war fuels inflation risks. Higher benchmark borrowing costs can weigh on emerging-market currencies and risk assets. Oil prices rose to near four-month highs earlier in the week but subsequently eased on reports that Saudi Arabia was seeking to restore around half the capacity of its East-West oil pipeline within days. Despite the prospect of higher rates offering some support to the rupee, traders said depreciation towards 96 per dollar had drawn firm central bank intervention in recent sessions.

Crypto
The cryptocurrency markets extended their recovery on Friday, with Bitcoin trading around $78,000 and Ethereum near $2,450 as investors returned to risk assets following the Federal Reserve’s widely anticipated 25-basis-point rate hike.

Bitcoin gained around 2.4% over the past 24 hours, while Ethereum rose 1.95%, according to the levels provided. The rebound also followed short-position liquidations, while the SEC’s move to provide a regulatory pathway for tokenised stocks helped ease some concerns after the Senate’s recent setback on the CLARITY Act.

US Stock Futures
US stock futures climbed on Friday, with S&P 500 futures up around 0.8% and Nasdaq-100 futures gaining nearly 1%, as investors assessed the Federal Reserve’s latest rate hike and resilient economic data.

The Federal Reserve raised its key interest rate by 25 basis points to 3.75%-4% and signalled that borrowing costs could rise further. Meanwhile, August retail sales increased 1.2%, while import prices rose 0.7%. Investors are assessing whether higher borrowing costs will weigh on interest-sensitive sectors such as banks and housing or whether resilient consumer demand will continue to support consumer-focused stocks.

US Treasury Notes
US Treasury note yields were little changed on Friday, consolidating after a volatile week. The benchmark 10-year Treasury yield held around 4.957%, remaining below the 5% level breached earlier in the week. The two-year Treasury yield rose around 2 basis points to about 4.71%.

The subdued movement came as investors assessed the Federal Reserve’s latest policy decision. The central bank raised its policy rate by 25 basis points to 3.75%–4% and signalled that further tightening remained possible amid persistent inflation pressures.

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Indian Equities Log Sixth Weekly Fall as Oil Weighs; Rupee, Bond Prices Decline