The average price of Indian crude basket has risen to $113.9 a barrel in September, so far, from $69.61 in the year-ago period. In August, too, the average price stood at $90.19 against $69.1, Petroleum Planning and Analysis Cell data show. In August, the import bill jumped 18 percent to $11.7 billion even as volumes declined by 3 percent to 19 million tonnes, PPAC data shows.
India’s oil import bill surges 48% in April-August to $75 billion on higher prices – Daily Market Update 22nd Sept 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 0.71% to 2.26%.
- European equity markets also ended higher in range 0.74% to 1.06%.
- The majority of Asian equity markets are trading in green.
- GIFT Nifty is up by 50 points, Nifty futures likely to open around 23500 levels.
The benchmark Nifty index ended slightly higher at 23414 spot levels after adding 68 points to its previous closing values.
The broader markets underperformed the benchmark as Mid and Small cap indices ended on a flat to negative note.
The majority of sectoral indices, tracked at NSE, ended in green. Among them, Nifty Pharma, Realty, Healthcare and FMCG index were the top performers, gained around 1% each. On the flip side, Nifty Metal index was the worst performer, down 0.61%.
The Nifty index has gradually reached the price resistance zone around the 23,450–23,600 spot levels. The short-term chart structure remains bearish as long as the index trades below the 23,600 spot level on a closing basis. Downside support is still located around the 23,000–23,100 spot levels; hence, we suggest that traders adopt or maintain a stock-specific trading approach for the time being.
Derivatives Overview & Outlook
Yesterday, short covering was seen in Banknifty futures with decrease in open interest by 1.7%. On the other hand, no significant change was observed in Nifty, Finnifty and Midcapnifty futures on open interest as well as price front.
Performance on the sectoral front was mix. Among them, Automobile and Infrastructure stocks witnessed maximum addition of short positions whereas some long buildup was seen among New-age and Technology stocks.
On options front, put writing along with some call unwinding at multiple strikes. Maximum positions are at 23500 CE followed by 23600 CE and 23400 PE closely followed by 23300 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 576 Cr in the cash segment, sold index futures worth Rs 328 Cr and bought stocks futures worth Rs 16 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2797 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23550-23680; Supports 23350-23250
Banknifty – Resistances 56900-57200; Supports 56300-56000
Finnifty – Resistances 25750-25900; Supports 25400- 25200
F&O stocks in ban today: INOXWIND, MANAPPURAM FIN, SAIL, BANDHANBANK & LICHSGFIN.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are the associates of GCML.
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