Crude oil falls below $100: Sensex, Nifty end higher as easing oil prices support Indian equities

equity markets opened higher on Wednesday, September 23, as crude oil prices fell below the $100-per-barrel mark, easing concerns over inflation and the country's import bill. Investors also remained focused on global developments, including the ongoing talks between US President Donald Trump and Chinese President Xi Jinping.

At 9.20 am, the BSE Sensex was up 194 points, or 0.26 per cent, at 74,732, while the NSE Nifty 50 gained 49 points, or 0.21 per cent, to trade at 23,378. The broader market also witnessed buying interest, with the Nifty Midcap 100 rising 0.33 per cent and theNifty Smallcap 100 gaining 0.60 percent.

Metal stocks lead gains

Most sectoral indices on the NSE traded in positive territory during early trade. The Nifty Metal index emerged as the top performer, rising 1.06 per cent. It was followed by the Nifty FMCG index, which gained 0.55 per cent, and the Nifty PSU Bank index, which advanced 0.50 per cent.

Nifty IT was the only major laggard, declining 0.37 per cent despite positive sentiment around artificial intelligence and global technology stocks.

Why falling crude oil prices matter

The decline in crude oil prices is particularly important for India because the country depends heavily on imports to meet its crude oil requirements. A sustained fall in global oil prices can help reduce pressure on India's import bill and ease inflationary concerns.

Softer crude prices are therefore being viewed as a supportive factor for Indian equities, particularly at a time when markets remain sensitive to global geopolitical developments and bond yields.

Nifty levels to watch

The Nifty had closed the previous session 0.43 per cent lower at 23,329 after opening at 23,454. According to market analysts cited in the report, immediate support for the index is placed around 23,150–23,200, while resistanceis seen in the 23,450–23,500 range.

Bank Nifty had ended the previous session 0.49 per cent lower at 56,215. Its immediate support is seen at 55,800–56,000, while resistance is placed around 56,500–56,600.

market cues

Global markets provided mixed signals. Japan's Nikkei rose 1.38 per cent, while Hong Kong and mainland Chinese markets declined. In the US, the Nasdaq gained 0.45 per cent in the previous session, the S&P 500 ended largely flat, while the Dow Jones declined 0.36 per cent.

Foreign institutional investors remained net sellers in Indian equities, selling shares worth around ₹3,800 crore on September 22. Domestic institutional investors, however, bought equities worth approximately ₹4,120 crore.

With crude oil prices falling below the $100 mark, investors are expected to closely track oil prices, global cues, foreign fund flows and geopolitical developments for further direction in the Indian stock market.