Stock market prediction for 28 September, 2026: The Indian stock market ended lower for the seventh straight week, weighed down by weak domestic and global signals. The indices remained largely range-bound during the first three trading sessions, but a sharp sell-off on Thursday put further pressure on market sentiment.
Sensex, Nifty: What happened on Friday?
On Friday, benchmark indices Sensex and Nifty recovered on Friday, supported by value buying in blue-chip stocks across the banking, oil and gas, and automobile sectors after the recent sharp sell-off.
The 30-share BSE Sensex gained 315.20 points, or 0.43%, to close at 73,895.74. Of its 30 constituents, 19 ended in positive territory while 11 declined. During the session, the index touched an intraday high of 73,968.05 and a low of 73,477.77, marking a 490.28-point swing. The Sensex had fallen to a more than three-month low in the previous session.
The 50-share NSE Nifty also recovered, rising 77.40 points, or 0.34%, to finish at 23,140.50. Among its constituents, 34 stocks closed higher, 15 declined, while one remained unchanged.
Stock market outlook: 5 triggers likely to dictate the Indian stock market next week –
- Crude oil prices: Crude oil remains a key macroeconomic factor for domestic markets. With Brent crude holding above $100 a barrel, elevated oil prices continue to weigh on India’s macroeconomic environment and corporate profit margins. However, the recent moderation in crude prices toward the end of last week has provided some near-term relief. According to Ponmudi R, CEO – Enrich Money, a further decline in oil prices could support domestic equities, while any fresh escalation in Middle East tensions could push prices higher and reverse the trend.
- Global bond yields: Global bond yields will remain a key factor to watch after the Federal Reserve’s September policy decision. A further rise in yields and the dollar could put pressure on capital flows into emerging markets, while easing yields may offer some relief.
- US-Iran war: On the geopolitical front, Iran has put forward a seven-day proposal to the United States seeking to end the ongoing conflict and restore normal operations through the strategically vital Strait of Hormuz. Under the proposal, Tehran said maritime traffic through the strait could resume within seven days if Washington lifts its naval blockade, relaxes oil sanctions and agrees to a broader ceasefire.
- FIIs and DIIs: Ponmudi further added that oversold conditions and strong DII participation could support intermittent recovery attempts, but a durable improvement in sentiment will depend on stability in crude oil, global yields, geopolitical developments and a moderation in FII selling.
- US data releases: In addition, a series of key US economic data releases will be closely watched for their impact on global risk sentiment. Investors are likely to analyse the data from a monetary policy perspective, particularly to gauge the growth-inflation outlook and the future path of interest rates.
Sensex, Nifty prediction for tomorrow: Sensex, Nifty outlook
GIFT Nifty
GIFT Nifty ended 0.21% or 49 points up, closed the session at 23,237.50 on 26 September.
Sensex
BSE Sensex closed at 73,895.74, gaining 315.20 points (+0.43%). The index opened at 73,525.92, touched a high of 73,968.05 and a low of 73,477.77. After a cautious start, the benchmark remained largely range-bound before witnessing buying interest in the afternoon session, helping it finish the day in positive territory.
On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said, “The Sensex continues to maintain a sideways-to-bearish outlook, with 73,200–73,450 acting as the crucial support zone. Sustained buying above 74,000 could strengthen the recovery and open the way towards 74,200–74,500, while a break below the support band may revive selling pressure. For now, traders should monitor the 73,500–74,000 zone closely along with OI changes for confirmation of the next move.”
Nifty 50
On the Nifty 50 outlook, Rupak De, Senior Technical Analyst at LKP Securities, said that Nifty closed higher, recovering modestly after the sharp decline in the previous session. Technically, the index continues to form lower highs and lower lows and remains below its key moving averages, keeping the short-term structure weak.
“The RSI has turned bearish on the weekly chart, indicating continued downside momentum. On the downside, 23,000 remains the immediate support, followed by 22,700. On the higher end, 23,200–23,300 is the immediate resistance zone. A sustained move above 23,300 could improve the technical setup, while a decisive break below 23,000 may resume the downtrend,” he added.
US markets performance
Wall Street closed higher on Friday, supported by gains in Microsoft and other artificial intelligence-linked technology stocks. However, elevated oil prices and a recent sharp rise in US Treasury yields continued to weigh on investor sentiment.
The gains in the S&P 500 and Nasdaq brought a volatile week to a close, as investors remained uncertain about which sectors could benefit from the rapid expansion of artificial intelligence and which could face pressure.
The S&P 500 rose 0.51% to finish at 7,743.41, while the Nasdaq Composite gained 0.48% to close at 27,068.72. The Dow Jones Industrial Average advanced 0.93% to end the session at 51,828.62.
For the week, the S&P 500 advanced 1.2%, while the Nasdaq climbed 2%. The tech-heavy index also recorded a fresh record closing
Crude oil prices
Oil prices declined around 2% on Friday as hopes of a potential ceasefire between the US and Iran increased. Market sentiment was also weighed down by reports of a possible US ban on diesel exports. However, concerns over supply disruptions remained after rising attacks by Houthi fighters on Saudi Arabia raised fears about crude supplies from the major Middle Eastern producer.
Brent crude futures dropped $2.28, or 2.1%, to settle at $104.32 a barrel, while West Texas Intermediate (WTI) crude declined $2.20, or 2.3%, to close at $92.41 a barrel.
For the week, Brent gained less than 1%, while WTI posted a weekly decline of around 8%.
South Korea’s Kospi index performance
South Korean equities ended the holiday-shortened week on a strong note, with the benchmark Kospi rising around 2.7% between September 18 and September 23. Renewed investor interest in artificial intelligence (AI) and semiconductor stocks helped offset concerns over geopolitical tensions and inflation.
The Kospi ended at 7,080.92 on September 23, gaining 63.01 points, or 0.90%, from the previous close. The index stood at 6,894.23 at the end of the prior week. South Korean markets remained shut on September 24 and 25 for the Chuseok holiday.
Japan’s Nikkei index performance
Japan’s Nikkei index extended its winning streak to a fifth consecutive session on Friday, supported by gains in AI-related stocks and buying ahead of Monday’s deadline for investors to qualify for mid-term dividend payments.
The benchmark Nikkei 225 rose 1.30% to close at 66,364.20, gaining slightly more than 2% over the holiday-shortened week. The broader Topix index also advanced 1.31% to end at 4,128.59.
Taiwan stock market
Taiwan stock market ended the session in red on Thursday, with TAIEX index down over 0.28% on 24 September.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
