Stock market prediction for Tuesday, 29 September, 2026: The Indian stock market is likely to witness a muted start as GIFT Nifty was trading marginally lower on Tuesday, 29 September.
Meanwhile, Asian markets opened lower on Tuesday, while US stock futures also ended in red.
“Indian equity markets are expected to remain under pressure as elevated crude oil prices and persistent uncertainty over the U.S.-Iran conflict weigh on market sentiment. U.S. President Donald Trump said the U.S. would win the conflict “very soon,” while officials are communicating with mediators seeking to end the conflict. However, significant uncertainty remains around the negotiations, keeping concerns over potential supply disruptions through the Strait of Hormuz elevated,” said Ponmudi R, CEO of Enrich Money.
Sensex, Nifty: What happened on Monday?
The Indian stock market faced intense selling pressure on Monday, September 28, as benchmark indices breached key psychological support levels. Rising crude oil prices, elevated bond yields and concerns over further global monetary tightening continued to dampen investor sentiment.
The Nifty 50 declined 1.54% to end the session at 22,762, slipping below the crucial 23,000 mark for the first time since April. With Monday’s decline, the index’s year-to-date loss widened to 13%. The Sensex also fell 1.43%, closing below the 73,000 level at 72,836.
Sensex, Nifty prediction for today: Sensex, Nifty outlook
Gift Nifty today
Gift Nifty was trading around the 22,820 level, down nearly 4 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Sensex
Sensex closed at 72,771.72, declining 1,124.02 points (-1.52%). The index opened at 73,734.83, touched a high of 73,740.85 and slipped to an intraday low of 72,716.23. After opening lower, the benchmark remained under sustained selling pressure and ended close to the day’s low, highlighting a sharp deterioration in market sentiment.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said, “The immediate support is placed at 72,300–72,500, while 72,900–73,000 is likely to act as the key resistance zone. The broader trading range stands at 72,300–73,000, with the overall bias remaining sideways to bearish. A sustained recovery above 73,000 would be required to provide some stability to the short-term structure. Overall, the index remains sideways to bearish, and traders should remain cautious until a strong rebound is established. A sustained move above 72,900–73,000 could provide some relief, whereas a break below 72,300 may extend the downside momentum.”
Nifty 50
The Nifty formed a sizeable bearish candle, making a lower high and lower low, indicating continuation of the prevailing downtrend. The index opened on a weak note and slipped below last week’s low of 23,020 in the early trade. It extended its decline through the session and closing below the 22,800 marks.
On the Nifty 50 outlook, Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking, highlighted that a decisive break below 22,700 could intensify selling pressure and drag the index towards 22,400, where the trendline joining the major lows of the past two years and the 200-week EMA provide important support.
“On the upside, a meaningful trend reversal would require the index to form a sustained Higher High–Higher Low structure and reclaim the 23,000-23,100 level. A sustained move above 23,100 could signal a pause in the ongoing correction and pave the way for an upside move towards the next major resistance zone around 23,400,” he added.
US markets performance
US benchmark indices closed lower on Monday, September 28, marking a weak start to the week as rising bond yields, elevated oil prices and a stronger US dollar weighed on investor sentiment.
The Dow Jones Industrial Average declined 350 points, while the S&P 500 and Nasdaq Composite fell 0.8% and 0.9%, respectively. The Nasdaq 100, which has a high concentration of chip stocks, dropped 1.1%. Both the S&P 500 and Nasdaq 100 closed at their lowest levels in 10 trading sessions.
Crude oil prices
Oil prices climbed for a second consecutive session on Tuesday, as concerns over potential disruptions to Middle East supplies due to the US-Iran conflict outweighed indications of a recovery in crude exports from the region.
Brent crude futures gained 63 cents, or 0.6%, to $105.91 a barrel. Meanwhile, US West Texas Intermediate (WTI) crude rose 72 cents, or 0.8%, to $93.32 a barrel.
Japan’s Nikkei 225 index performance
Japanese markets traded lower in early deals. The Nikkei 225 opened 0.49% down at 65,557.99 points before trimming its losses to 0.37% at 65,636.03. SoftBank Group declined 0.51% to 6,212 yen (around $40), while Kioxia slipped 1.80% to 17,460 yen.
South Korea’s Kospi performance
South Korean markets also opened on a weak note. The KOSPI fell 0.7% at the open to 6,844.41 points, before recovering to trade 0.25% lower at 6,872.71. Technology stocks showed relative resilience, with SK Hynix gaining 0.42% to 1.776 million won (around $1,306), while Samsung Electronics advanced 0.28% to 271,000 won.
Taiwan stock market
Taiwan stock market also opened in red on Tuesday. TAIEX fell marginally over 0.15% or 72 points in early session to 47,952.95. The market was closed on Monday in observance of Teachers’ Day (Confucius’ Birthday).
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
