Analysts say immediate bias in the Nifty remains down and sustaining below 24,025 levels will open downside towards the key support area of 23,600-23,500 levels being the confluence of the previous major gap area and the low of July 2026.

Last Updated: Sep 08, 2026, 07:11:00 AM IST

Indian benchmark indices opened on a flat note but remained under pressure throughout the session, with continued selling in large-cap stocks weighing on the benchmarks. Analysts say immediate bias in the Nifty remains down and sustaining below 24,025 levels will open downside towards the key support area of 23,600-23,500 levels being the confluence of the previous major gap area and the low of July 2026.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 27 points, or 0.12 per cent, at 23,799.0, signaling that Dalal Street was headed for a negative start on Tuesday.

Tech View: The momentum indicator RSI is falling deeper into the bearish zone, further confirming weak momentum. In the near term, the weakness is likely to continue, with the index potentially declining towards 23,700/23,620. On the higher end, resistance is placed at 23,900

India VIX: India VIX, which is a measure of the fear in the markets, rose 4.5% to settle at 11.16.

Oil prices extended gains on Tuesday as risks of a prolonged conflict in the Middle East grew after Iran threatened to retaliate against any new U.S. attacks on its assets, heightening worries over supply disruption.

Gold prices nudged higher on Tuesday as the U.S. dollar slipped, with focus on upcoming inflation data that could shape expectations for the Federal Reserve's next policy move.

The Japanese yen climbed to fresh seven-month highs against the U.S. dollar on Tuesday, as traders continued to unwind short positions amid growing bets of a Bank of Japan interest-rate hike while the dollar was subdued ahead of CPI data this week.

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

Stocks in F&O ban today

1) SAIL

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.

Foreign portfolio investors net bought shares worth Rs 280 crore on Monday. DIIs, meanwhile, were net buyers at Rs 567 crore.

The Indian rupee traded in a narrow range on Monday, wedged between sustained market intervention by the Reserve Bank of India and a rise in oil prices as strikes on vessels sailing through the Strait of Hormuz stoked worries over energy flows.