Stock Market prediction for Tuesday, 8 September 2026: The Indian stock market is likely to start on a negative note on Tuesday, 8 September, as elevated crude oil prices continue to weigh on the macroeconomic outlook.
Asian markets opened on a mixed note on Tuesday, meanwhile, US stock futures remained closed for Labor Day.
“Indian equity markets are expected to remain cautious, with elevated crude oil prices continuing to dominate the macro backdrop. Escalating geopolitical tensions have kept energy markets on edge, with WTI crude briefly touching the $93-per-barrel mark before holding in the $92–93 range. For India, persistently high oil prices remain a key risk, given their potential to widen the import bill, stoke inflationary pressures and strain the current-account balance,” said Ponmudi R, CEO of Enrich Money.
Sensex, Nifty: What happened on Monday?
Indian equities remained under pressure on Monday, September 7, extending their recent weakness as escalating tensions in the Middle East kept crude oil prices elevated. At the same time, stronger-than-expected US job growth raised expectations of a possible Federal Reserve rate hike at its meeting next week, prompting investors to adopt a cautious stance and scale back exposure to riskier assets.
The Nifty 50 declined 0.57% to close at 23,779, marking its fourth straight session of losses. The Sensex also slipped 0.5% to end at 76,132. Both benchmark indices touched their lowest levels since July 24 during the trading session.
Sensex, Nifty prediction for today: Sensex, Nifty outlook
Gift Nifty today
Gift Nifty was trading around the 23,789.50 level, down nearly 78.20 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
“GIFT Nifty is signaling a cautious start for domestic markets today, trading at 23,790, down 0.16% in early trade, compared with the Nifty’s previous close of 23,779.15. A break below the 23,750–23,700 zone could drag the index toward major support at 23,600, while the index needs to reclaim and sustain above the 23,800 resistance mark to improve momentum toward 24,000. The reopening of U.S. markets after the Labor Day break, crude oil movements and any further developments in the U.S.-Iran conflict are likely to remain the key factors driving sentiment through the session,” Ponmudi added.
Sensex
According to Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services, Sensex index opened on a flattish note and gradually inched lower in a slow and steady manner throughout the session. Momentum remained subdued as any intraday bounces were met with selling pressure.
“The index breached it’s previous week’s low as it slipped below 76000 marks. It formed a bearish candle on the daily chart, indicating continued selling pressure and weakness in the overall momentum. Now till it holds below 76200 zones, weakness could be seen towards 75800 then 75500 zones while hurdles have shifted lower to 76500 then 76700 zones,” Taparia said.
Nifty 50
On the Nifty 50 outlook, Rupak De, Senior Technical Analyst at LKP Securities, said that the index continues to remain weak as the index trades below the rising channel, indicating sustained selling pressure.
“The index is also consolidating below a falling 50EMA, pointing towards a strengthening bearish trend. The momentum indicator RSI is falling deeper into the bearish zone, further confirming weak momentum. In the near term, the weakness is likely to continue, with the index potentially declining towards 23,700/23,620. On the higher end, resistance is placed at 23,900,” he said.
US markets performance
US equities were closed Monday for the Labor Day holiday, with trading set to resume today. Over the long weekend, tensions between the U.S. and Iran flared up again, with fresh developments in the conflict keeping oil prices and geopolitical risks firmly in focus heading into today’s session.
“With U.S. markets reopening today after the Labor Day break, investors will be watching closely to see how Wall Street responds to the weekend’s developments surrounding Iran,” said Ponmudi.
Crude oil prices
Oil prices extended their gains on Tuesday, climbing for a third consecutive session and trading near six-week highs as concerns over escalating tensions in the Middle East intensified following the exchange of strikes between the U.S. and Iran over the weekend.
Brent crude futures for November delivery, the global benchmark, rose 0.20% to $97.20 a barrel. US West Texas Intermediate (WTI) crude futures for October delivery advanced 1.07% to $92.56 per barrel.
South Korea’s Kospi index performance
South Korea’s KOSPI Index opened on a positive note and extended its gains, climbing 1.13% to cross the 7,000 mark and trade at 7,074.77 points. Major technology and semiconductor stocks also continued their upward momentum, with Samsung Electronics rising 0.56% to KRW 271,500 and SK Hynix gaining 0.45% to KRW 1,791,000.
Japan’s Nikkei index performance
Japan’s Nikkei slipped 0.018%, while the broader Topix index declined 0.46%, in early morning trade on Tuesday.
On Monday, Japanese stocks closed higher, driven by gains across the Real Estate, Banking and Textile sectors. At the close of trading in Tokyo, the Nikkei 225 advanced 2.02%.
Taiwan stock market
Taiwan stock market also traded in green, with TAIEX index up over 0.19% in Tuesday’s trading session.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.