Sensex and Nifty extend five-week losing streak amid FII outflows and elevated crude prices.
Markets are closed for Ganesh Chaturthi, with investors awaiting August inflation data and the US Federal Reserve's policy decision this week.
The story
Indian benchmark indices concluded their fifth consecutive week of declines on Friday, September 11, with the Sensex falling 120.84 points (0.16%) to 74,781.76 and the Nifty dropping 79.70 points (0.34%) to 23,398.10. This broader market weakness was largely attributed to elevated crude oil prices, which briefly pushed Brent above $109 a barrel, rising global bond yields, and persistent concerns about US inflation.
Foreign Institutional Investors (FIIs) remained net sellers for the fourth straight week, recording an outflow of ₹1,795 crore. In contrast, Domestic Institutional Investors (DIIs) provided a cushion by purchasing equities worth ₹6,419 crore during the same period.
Sectors like IT, Metal, Realty, and Auto experienced significant selling pressure, while Financial Services showed some resilience. The market is closed today, September 14, for Ganesh Chaturthi, with trading set to resume on Tuesday.
The tape
| Instrument | Last | Change |
|---|---|---|
| Nifty 50 | 23,398.10 | -79.70 (-0.34%) |
| Sensex | 74,781.76 | -120.84 (-0.16%) |
| Bank Nifty | 56,606.55 | +135.63 (+0.24%) |
| India VIX | 12.29 | +0.50 (+4.2%) |
Flows & data
| Item | Reading | Read |
|---|---|---|
| FII Net Flows (weekly ending Sep 11) | -₹1,795 crore | Foreign investors remained net sellers for the fourth consecutive week. |
| DII Net Flows (weekly ending Sep 11) | +₹6,419 crore | Domestic institutions provided support by purchasing equities. |
| August CPI and WPI | Due September 14, 2026 | India's inflation data for August is expected to be released today. |
| August Trade Data | Due this week | A fresh reading on export growth and trade balance is anticipated. |
IPOs & the primary market
The primary market is gearing up for a busy week, highlighted by the much-anticipated Initial Public Offering (IPO) of the National Stock Exchange (NSE). The NSE IPO is an Offer For Sale (OFS) of up to 12.644 crore shares, with a price band of ₹1,700–₹1,785, aiming to raise approximately ₹22,569.54 crore.
Bidding for the NSE IPO opens on September 17 and closes on September 21, 2026, with a Grey Market Premium (GMP) recently noted at 11-12%. Additionally, Robokidz Eduventures' IPO is scheduled for September 21-23, priced at ₹100–₹106 to raise about ₹31.62 crore.
Spectraa Technology Solutions also has an IPO opening from September 17-21, seeking to raise ₹41.02 crore. The board of Tata Sons is also set to meet on September 17 to discuss its potential IPO, mandated by the RBI, which could value the company at over ₹20 trillion.
Valuation watch — India & global
India's equity markets are showing signs of being "fairly priced" in frontline stocks, though generally considered more expensive than some other emerging markets. While no specific global PE or CAPE ratio updates from the last 96 hours are available, the prevailing market sentiment is cautious due to factors like elevated crude oil prices and rising US bond yields.
These global cues, alongside persistent foreign investor outflows, are contributing to a re-evaluation of valuations, particularly in sectors that have seen strong runs. The ongoing market corrections reflect a broader risk-off sentiment, prompting investors to focus on selective stock-picking and valuation discipline.
Monsoon watch
India's 2026 southwest monsoon continues to be a concern, with overall rainfall recorded at 14.7% below the benchmark as of Sunday, September 13. The India Meteorological Department (IMD) forecasts below-normal rainfall for September, expected to be less than 91% of the long-period average.
Uneven distribution remains a key issue, with nearly half of India's districts (343 out of 740) experiencing 'deficient' to 'large deficient' rainfall. This unevenness has impacted kharif sowing, with the overall acreage under major crops down by 1.4% year-on-year.
Specifically, paddy acreage has declined by nearly 4% from the previous year, raising concerns about crop yields. Southern peninsular India and East/North-East India face significant rainfall shortfalls of 27.8% and 24.8% respectively.
What we'll be watching
- India's August CPI and WPI inflation data release.
- US Federal Reserve's monetary policy decision (September 15-16).
- RBI's open-market bond sales to manage liquidity (starting September 17).
- India's August trade data release.
- National Stock Exchange (NSE) IPO opens for subscription (September 17).
- Tata Sons board meeting on potential IPO (September 17).
Reporting + analyst voices: grounded via Google Search at publish time.