Morning Brief: Nifty Slumps 1.19% to 23,118; FIIs Net Sell ₹2,977 Crore Amid Global Volatility | 16 Sept 2026, 08:15 AM IST
By ThePip Desk
Indian markets retreat as Nifty drops to 23,118. Foreign institutional investors offload ₹2,977 crore as global inflation and oil price concerns weigh heavily.
Indian equity benchmarks faced significant selling pressure in the previous session, with the Nifty 50 closing at 23,118.60 (-1.19%). The decline was driven by broad-based weakness as investors reacted to rising global inflation concerns, elevated crude oil prices, and anticipation surrounding the upcoming U.S. Federal Reserve policy meeting.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 23,118.60 (-1.19%) |
| Nifty Bank | 55,794.75 (-1.43%) |
| Nifty Midcap 100 | 60,878.25 (-2.12%) |
Institutional Flows
Foreign institutional investors (FIIs) remained net sellers, offloading equities worth ₹2,977.86 crore on September 15. Domestic institutional investors (DIIs) provided support, recording a net purchase of ₹2,686.05 crore.
| Date | FII Net | DII Net |
|---|---|---|
| 15-Sep-2026 | -2,977.86 | 2,686.05 |
| 11-Sep-2026 | -930.90 | 1,968.17 |
| 10-Sep-2026 | -438.24 | 1,025.85 |
Sector Performance
| Sector | Last |
|---|---|
| Nifty IT | 29,555.30 (+2.19%) |
| Nifty FMCG | 44,829.95 (-0.50%) |
| Nifty Pharma | 26,188.40 (-1.30%) |
| Nifty Financial Services | 25,076.65 (-1.83%) |
| Nifty Auto | 26,756.60 (-2.01%) |
| Nifty PSU Bank | 8,158.50 (-2.29%) |
| Nifty Realty | 814.25 (-4.04%) |
Top Movers
| Symbol | Company | Last |
|---|---|---|
| HCLTECH | HCL Technologies | 1,253.70 (+3.95%) |
| INFY | Infosys | 1,077.00 (+3.79%) |
| BEL | Bharat Electronics | 382.90 (-5.30%) |
| SHRIRAMFIN | Shriram Finance | 979.80 (-4.74%) |
IPO and Corporate Updates
- Jindal Supreme (India): The IPO opens for subscription today, September 16, and closes on September 18.
- Exide Industries: Released a press statement regarding company operations.
- Tribhovandas Bhimji Zaveri: Filed a Draft Letter of Offer.
The divergence between IT sector resilience and broader market weakness highlights a defensive shift among investors as they navigate high-inflation and geopolitical uncertainty.