Archive · 2 Sep 2026
Indian Stock Market Seen Flat Amid Crude Oil Rise
Experts expected India’s main stock indexes to start the session quietly.
Higher crude oil prices were one reason for the cautious outlook.
The Sensex and Nifty 50 had both ended slightly lower in the previous session.
Analysts said the Nifty 50 was close to an important support level near 24,000.
If it falls below that level, it could move toward 23,800.
If it rises above 24,150, it could gain further.
The Sensex was expected to trade within a broad range unless it breaks important levels.
Bank Nifty was also expected to move sideways rather than strongly up or down.
Sensex and Nifty 50 were expected to open flat amid rising crude oil prices.
Gift Nifty indicated a muted start, trading around 24,028, below the previous Nifty futures close.
Sensex fell 12.99 points to 76,944.28, while Nifty 50 declined 24.60 points to 24,055.80.
Analysts identified 24,000 as crucial Nifty 50 support, with resistance around 24,150–24,200.
Bank Nifty remained range-bound, with resistance near 57,900–58,000 and support around 56,900–57,000.
- Who
- Indian stock-market investors and analysts, including Sachin Gupta, Nagaraj Shetti, Hitesh Rathi and Sudeep Shah.
- What
- Analysts issued forecasts for the Sensex, Nifty 50 and Bank Nifty after the indexes closed lower.
- When
- The outlook was provided for the session identified in the article as 2 September; the article also refers to the expected open as Wednesday, 1 September.
- Where
- Indian equity markets, including the BSE and National Stock Exchange benchmarks.
- Why
- Rising crude oil prices, weak technical trends and continued market volatility prompted a cautious outlook.
Cautious and bearish signals
Potential recovery signals
Nifty 50 direction
Cautious and bearish signals
Nagaraj Shetti said the underlying trend remained weak and a decline could take the index toward 23,800.
Potential recovery signals
Shetti said a move above 24,150 could trigger further near-term gains.
Sensex outlook
Cautious and bearish signals
Sachin Gupta said the Sensex faced resistance, remained below key moving averages and could come under pressure below 76,400–76,600.
Potential recovery signals
Gupta said a sustained move above 77,300–77,500 could improve the short-term trend.
Investor positioning
Cautious and bearish signals
Hitesh Rathi advised waiting for confirmation that the ongoing downtrend had reversed before taking aggressive positions.
Potential recovery signals
Rathi noted that market breadth had improved considerably after the August correction, a condition that could support a future recovery.
- Sensex previous close
- 76,944.28, down 12.99 points or 0.02%
- Nifty 50 previous close
- 24,055.80, down 24.60 points or 0.10%
- Gift Nifty
- Around 24,028, a 62.3-point discount to the previous Nifty futures close
- Nifty 50 support
- Immediate support near 24,000; further support at 23,700–23,800
- Nifty 50 resistance
- Immediate resistance at 24,150–24,200; stronger resistance at 24,300–24,360
- Sensex levels
- Support at 76,400–76,600; upside threshold at 77,300–77,500
- Bank Nifty levels
- Resistance at 57,900–58,000 and support at 56,900–57,000