Brent crude extended its rally towards $109 a barrel as fighting between Iran-backed Houthi militants and Saudi-backed forces intensified in Yemen, adding another threat to Middle East oil flows already disrupted by the wider US-Iran conflict.
Brent futures rose after gaining more than 6% in the previous session, while West Texas Intermediate traded around $103. The global benchmark has surged nearly 30% from its early-August lows and is on course for its strongest weekly gain since July.
Oil prices rally over 6%: Brent Crude nears $109 as Houthis advance towards key Red Sea chokepoint- Daily Market Update 11th Sept 2026
Overview and Outlook
Global Stock Market Today
- US markets were settled down over 0.50% each.
- European equity markets ended lower in range 0.49% to 0.85%.
- Asian equity markets are trading lower.
- GIFT Nifty is down by 120 points, Nifty futures likely to open around 23335 levels.
The benchmark Nifty index settled on a flat note to positive note after a lackluster trading session in which neither bulls nor bears were able to drive the market in their direction.
The broader markets underperformed the benchmark as Mid and Small cap indices ended on a flat to negative note.
The performance on the sectoral front was largely mix and muted. Among them, Financial Services and Media index were the best performers, gained just above 0.5% each. On the flip side, Metal and Pharma index were the worst performers, down around 0.5% each.
Looking ahead, a bounce toward the 23,600–23,650 spot range would attract fresh selling interest among traders as long as the index trades below the 23,800 spot level. Downside support is positioned around the 23,200–23,000 spot levels.
Derivatives Overview & Outlook
Yesterday, Nifty and Banknifty futures added around 1.5% and 3% of open interest respectively as short positions, Finnifty futures shed 2% of open interest without any change in price. On the other hand, no significant change was observed in Midcapnifty futures on open interest front.
Majority of the sectoral indices settled lower. Among them, Banking and Technology stocks witness maximum addition of short position.
On option front, both call writing along with put addition was seen at multiple OTM strikes. Maximum positions are at 24000 CE followed by 23500 CE and 23000 PE followed by 22500 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 438 Cr in the cash segment, sold index futures worth Rs 857 Cr and also sold stocks futures worth Rs 1629 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1026 crore Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23600-23700; Supports 23400-23300
Banknifty – Resistances 56850-57200; Supports 56300-56000
Finnifty – Resistances 25700-25850; Supports 25400- 25300
F&O stocks in ban today: KAYNES, INOXWIND, LICHSGFIN, MANAPPURAM FIN, SAIL & BANDHANBANK
Disclosure
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