Indian Markets Set for Negative Open: GIFT Nifty Futures Dip

Indian benchmark indices were poised for a negative start on Wednesday, September 2, with GIFT Nifty futures trading 0.06 percent lower.

Global Cues and Oil Surge

• Asian markets, including Japan’s Nikkei, South Korea’s Kospi, and Australia’s S&P/ASX200, mirrored downward trends.
• US markets closed lower on Tuesday following military escalation in West Asia and a spike in oil prices.
• Brent crude futures rose to $96.21, while WTI crude futures reached $91.51.

Oil Marketing Companies (OMCs) such as BPCL, HPCL, and IOCL are under scrutiny as Brent crude prices surged past $96 per barrel, impacting their operational outlook.

Key Corporate Movements

• Hero MotoCorp reported a 4.5 percent year-on-year increase in domestic sales for August and a 2.6 percent rise in total sales, driven by strong scooter performance.
• Reliance Consumer Products (RCPL) launched Bombay Creamery, marking its entry into the Indian ice cream market.
• Coal India sold 82.76 lakh tonnes of coal through e-auctions in August, representing 39 percent of the total offered quantity, with an average price 59 percent higher than the notified price.
• NMDC saw August production rise significantly to 40.7 lakh tonnes and sales increase to 35.8 lakh tonnes compared to the previous year.
• Tata Motors secured necessary approvals for its acquisition of Italian commercial vehicle manufacturer Iveco Group.
• Ujjivan Small Finance Bank announced the RBI’s approval for Carol Furtado as its interim CEO for three months, effective September 1, 2026.
• Gland Pharma’s API facility in Visakhapatnam successfully completed a US FDA inspection with no observations.
• Adani Green Energy commissioned a 139 MW solar power project in Khavda, Gujarat, increasing its total operational renewable energy capacity to 20,280.8 MW.
• ARSS Infrastructure Projects secured a work order worth approximately ₹104.06 crore from East Coast Railway for two road overbridges.
• Ashiana Housing recorded bookings of 1.67 lakh sq ft valued at ₹165.93 crore in August 2026, with year-to-date bookings reaching 11.30 lakh sq ft worth ₹1,025.34 crore.
• L&T Finance obtained perpetual registration from IRDAI to operate as a corporate agent, effective August 31, 2026.
• ITC Infotech received NCLT approval for the merger of Blazeclan Technologies and Cloudlytics Technologies, enhancing its digital and cloud business.
• Wipro expanded its global digital workplace services engagement with ABB to scale ABB’s digital workplace capabilities.

The market’s initial negative trajectory reflects broader global concerns, with specific corporate developments driving individual stock attention on Wednesday.