24 September 2026 Punjab Khabarnama Bureau : Indian stock markets came under heavy selling pressure on Thursday, September 24, with the Sensex falling nearly 600 points and the Nifty 50 slipping below the 23,250 mark in early trade. Rising US bond yields, elevated crude oil prices and weak global cues weighed on investor sentiment.
Sensex, Nifty Fall Sharply
At around 9:30 am, the Sensex was down 576.59 points, or 0.77%, at 74,251.66, while the Nifty declined 201.60 points, or 0.86%, to 23,245.20.
The decline followed a weaker opening indicated by GIFT Nifty, which had pointed to a gap-down start for Indian equities.
US Bond Yields Trigger Concern
One of the biggest factors behind the market decline was a sharp rise in US Treasury yields.
The benchmark 10-year US Treasury yield climbed to around 5.1%, reaching levels not seen since 2007. Stronger-than-expected US economic activity and expectations of further monetary tightening contributed to the jump.
Higher US yields can make dollar-denominated fixed-income assets more attractive, potentially reducing appetite for riskier assets such as equities in emerging markets.
Crude Oil Remains Above $100
Another major concern for Indian investors is the rise in crude oil prices.
Brent crude was trading around $102–103 a barrel, after gaining sharply in the previous session. The increase came amid renewed uncertainty surrounding the US-Iran situation and developments in the Middle East.
Higher crude prices are particularly important for India because the country relies heavily on imported oil. An extended rise can increase the import bill and add pressure to inflation and corporate costs.
Weak Global Cues Add to Pressure
Indian markets were also affected by weakness on Wall Street.
The Dow Jones fell 0.68%, the S&P 500 declined 0.75%, while the Nasdaq dropped 1.13% in the previous session as rising bond yields increased concerns about the US interest-rate outlook.
Asian markets were mixed on Thursday, reflecting broader caution across global financial markets.
Rate-Hike Expectations Rise
The sharp move in Treasury yields has also strengthened expectations that the US Federal Reserve could maintain or raise interest rates for longer.
Higher interest rates can increase borrowing costs and reduce the attractiveness of equities, particularly when investors are already concerned about inflation and geopolitical risks.
Impact on Indian Investors
For Indian investors, the combination of rising US yields and expensive crude creates multiple concerns.
Higher global rates can influence foreign capital flows, while expensive oil can affect India’s trade balance, inflation expectations and the profitability of oil-consuming companies.
These factors have contributed to the cautious mood in domestic equities.
Banking Stocks Under Pressure
The market decline was broad-based, with financial stocks also facing pressure.
At one point, the Nifty Bank index was down more than 1.5%, while several frontline stocks traded lower. IT stocks were relatively more resilient during early trade.
Markets Watch Key Support Levels
Market participants are closely watching the 23,200–23,250 zone on the Nifty after the index slipped below 23,250 in early trade.
Analysts quoted by Moneycontrol have highlighted the possibility of increased volatility if the index fails to hold important technical support levels. These are analyst views rather than guaranteed market outcomes.
Global Factors Remain Crucial
The immediate direction of Indian equities is likely to remain sensitive to movements in US Treasury yields, crude oil prices, global equity markets and geopolitical developments.
Investors are also tracking foreign institutional flows and currency movements for further indications of market sentiment.
Market Volatility in Focus
The sharp morning decline demonstrates how quickly global macroeconomic developments can affect Indian equities.
With US yields at multi-year highs and Brent crude above $100, investors are weighing the potential impact on inflation, interest rates, corporate earnings and capital flows.