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Markets / Capital Market News / Indices drift lower in early trade; breadth positiveIndices drift lower in early trade;
breadth positive Last Updated : Aug 31 2026 | 11:06 AM ISTThe key equity benchmarks traded with significant losses in
early trade tracking weak cues from Asian markets as renewed US-Iran tensions pushed crude oil prices higher and kept
investors in a risk-off mood. Brent crude rose above the $90-per-barrel mark, raising concerns over inflation and its
potential impact on interest-rate expectations. Market participants remained cautious ahead of the MSCI index
rebalancing, which is expected to trigger sizeable passive fund flows under the new Closing Auction Session (CAS)
mechanism. The Nifty traded near 24,050 mark. Investors will closely track movements in crude oil and gold prices,
domestic and US bond yields, the rupee, and developments surrounding the US-Iran conflict. The trajectory of monsoon
rainfall and its implications for rural demand and inflation will also remain on the radar. Barring private bank all
the sectoral indices on the NSE were traded in red with metal, media and IT shares leading the decline. At 09:25 IST,
the barometer index, the S&P BSE Sensex declined 309.29 points or 0.41% to 76,954.13. The Nifty 50 index fell 121.75
points or 0.50% to 24,053.90. The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell
0.71% and the BSE 250 SmallCap Index dropped 0.85%. Also Read HDFC Bank tests 100-MMA for first time ever; tech analysts
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hurdleApple's new CEO may bet big on Siri-powered smart glasses by 2027: Report The market breadth was negative. On
the BSE, 1,342 shares rose and 1,985 shares fell. A total of 299 shares were unchanged. Foreign portfolio investors
(FPIs) sold shares worth Rs 5,039.80 crore, while domestic institutional investors (DIIs) were net buyers to the tune of
Rs 5,183.93 crore in the Indian equity market on 28 August 2026, according to provisional data. Numbers to Track: The
yield on India's 10-year benchmark federal paper rose 0.49% to 6.947 compared with the previous session close of
6.913. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was
hovering at 95.4300 compared with its close of 95.4375 during the previous trading session. MCX Gold futures for the 5
October 2026 settlement fell 1.21% to Rs 1,54,389. The US Dollar Index (DXY), which tracks the greenback's value
against a basket of currencies, was up 0.54% to 99.70. The United States 10-year bond yield declined 0.10% to 4.710. In
the commodities market, Brent crude for the November 2026 settlement jumped $2.07 or 2.35% to $90.17 a barrel. Stocks in
Spotlight: Reliance Industries shed 0.68%. The company announced that its Jio Platforms (JPL), a subsidiary of the
company, has received the observation letter from the Securities and Exchange Board of India (SEBI) on the Draft Red
Herring Prospectus (DRHP) filed for its proposed initial public offering (IPO). HDFC Bank added 2.23%. The bank said
Sashidhar Jagdishan has decided not to seek reappointment as managing director & chief executive officer (MD &
CEO) of the bank. Accordingly, Jagdishan will retire from the services of the bank with effect from 26 October 2026. The
board has decided to fast-track the process for selection and appointment of his successor well in advance. Max Estates
declined 1.31%. The company has entered into a Share Purchase Agreement to acquire the entire ownership interest in
promoter-owned land-holding companies that together own an approximately 84.71-acre land parcel in West Delhi. The said
land parcel is estimated to unlock a gross development value (GDV) of around Rs 10,000-12,000 crore over the next few
years. Global Markets: US stock futures were trading 151 lower on Monday, signalling a weak opening for Wall Street,
while most Asian markets declined as investors assessed a more hawkish policy outlook from Federal Reserve Chair Kevin
Warsh and renewed US-Iran tensions. Warsh said the Fed would have work to do if it was not confident that underlying
inflation was returning to its 2% target, prompting markets to raise the probability of a September rate hike to around
57%. Asian technology stocks came under pressure as higher expected borrowing costs weighed on risk appetite. Oil prices
rose after the US military struck Iranian missile launchers near the Strait of Hormuz. Brent crude climbed to around
$89.30 a barrel, raising concerns over a renewed escalation and potential disruption to oil supplies through the key
shipping route. China's manufacturing activity remained in contraction for a second consecutive month in August,
although the pace of decline eased. The official manufacturing Purchasing Managers' Index rose to 49.8 from 49.2 in
July, remaining below the 50 mark that separates expansion from contraction. The reading was also better than
economists' expectations. US equities ended lower on Friday after Warsh's Jackson Hole speech revived concerns
over tighter monetary policy. The S&P 500 fell 0.25% to 7,711.76, the Dow Jones Industrial Average slipped 0.02% to
53,559.99 and the Nasdaq Composite declined 0.52% to 26,402.42. The combination of higher rate expectations, elevated
bond yields and renewed geopolitical tensions has increased pressure on global risk assets. Markets will now turn to
upcoming US employment and inflation data for further clues on the Federal Reserve's policy path.Powered by Capital
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