Pre-market action: Here's the trade setup for today's session

By

Akash Podishetti

, ETMarkets.comLast Updated: Sep 10, 2026, 06:00:00 AM IST

Synopsis

The Indian stock markets were under considerable selling pressure on Wednesday, highlighted by Brent crude oil prices crossing the $100 mark. This uptick in oil prices dampened investor morale, prompting foreign portfolio investors to sell off shares. Conversely, domestic institutional investors capitalized on the situation to purchase stocks. Coupled with these changes, the Indian Rupee faced depreciation against the US dollar.

Indian benchmark indices witnessed strong selling pressure during Wednesday's session, with Brent crude oil prices rising above the $100 per barrel mark amid heightened geopolitical uncertainty, further weighing on investor sentiment. Analysts say immediate bias in the index continues to remain down and only a formation of higher high and higher low on a sustained basis in the daily chart will signal a pause in the current down trend.

STATE OF THE MARKETS

Tech View: Though the trend remains weak, if the Nifty manages to hold above 23,500 on Thursday, a meaningful recovery could be seen. However, a fall below 23,400 might trigger further correction in the index.

India VIX: India VIX, which is a measure of the fear in the markets, was rose 6.81% to settle at 11.92.

Read more: Ahead of Market: 10 things that will decide stock market action on Thursday

Stocks in F&O ban today

1) SAIL

2) LIC Housing Finance

3) Inox Wind

4) Kaynes

5) Manappuram

6) Bandhan Bank

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action

Foreign portfolio investors net sold shares worth Rs 583 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 1,509 crore.

Rupee

The rupee slumped 34 paise to close at 95.08 against the American currency on Wednesday as crude prices crossed the USD 100 per barrel mark, stoking concerns over inflation and high forex outflows.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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