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Stock market prediction on Thursday, 24 September, 2026: The Indian stock market is likely to witness a muted start, as GIFT Nifty signalled a gap-down opening on Thursday, 24 September. Meanwhile, Asian markets traded on a mixed note on Thursday, while US stock futures witnessed profit booking at higher levels on Tuesday. “Indian equity markets are likely to open on a cautious note, with early trends in GIFT Nifty futures pointing to a weaker start. A rebound in crude oil prices amid renewed uncertainty surrounding the U.S.-Iran diplomatic process, coupled with a rise in U.S. Treasury yields, is likely to prompt some profit-taking after the market’s recent gains. WTI crude is currently trading around $91–$92 a barrel, while Brent has climbed back above the $100 mark. Wall Street closed sharply lower, while Asian markets are showing mixed trends in early trade,” said Ponmudi R, CEO of Enrich Money. The Indian stock market extended its recovery for the second straight session on Wednesday, September 23, with benchmark indices gaining nearly 0.50%. Easing crude oil prices supported investor sentiment, while signs of progress in US diplomatic efforts to end the conflict with Iran further lifted market confidence. The Nifty 50 ended 0.50% higher at 23,446, while the Sensex rose 0.40% to 74,828. Broader markets outperformed the benchmarks, with the Nifty Midcap 100 index climbing 0.70% and the Nifty Smallcap index advancing 0.90%. "Markets extended their recovery on Wednesday, with the benchmarks gaining around half a per cent amid supportive global cues. After opening on a positive note, the indices maintained a firm bias through most of the session, although gains moderated from the day’s highs. Eventually, the Nifty settled at 23,446.80, up nearly 0.5%, while the Sensex ended around 74,828, higher by roughly 0.4%. Technically, the bulls are attempting to reclaim some of the ground lost during the six-week-long correction, although the pace of recovery remains capped by a mixed trend among key heavyweights. The 23,600 level remains the key hurdle, while a break below 23,300 could once again derail the recovery. The performance of the banking sector is likely to play a critical role in determining the sustainability of the rebound. Meanwhile, a selective and hedged approach remains preferable amid persistent FII outflows and ongoing geopolitical uncertainty," Ajit Mishra, SVP – Research, Religare Broking. Gift Nifty was trading around the 23,312.50 level, down nearly 137.30 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices. The BSE Sensex closed at 74,828.25, gaining 299.17 points (+0.40%). The index opened at 74,648.32, touched a high of 74,973.74 and a low of 74,599.88. After a slightly positive opening, the benchmark gradually strengthened through the session and closed near the upper end of the day’s range, although it continues to remain within a broader consolidation phase. On the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said that the price action remains range-bound, with the immediate support placed at 74,300–74,500 and resistance at 75,000–75,300. The broader trading range stands at 74,300–75,300, keeping the near-term bias sideways. “In the near term, the Sensex is likely to remain within the 74,300–75,300 range until a decisive breakout or breakdown emerges. Sustaining above 75,000–75,300 could improve the short-term structure and support further upside, while a break below 74,300–74,500 may bring renewed selling pressure. For now, the broader setup remains range-bound, and traders may closely track the key support, resistance and OI zones for the next directional cue,” Gupta added. According to Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One, following the CAS, the Nifty50 index settled marginally above the 23440 zone, ending the day with a modest gain of 0.50 per cent, reflecting measured optimism despite persistent volatility across the broader domestic market. Krishan highlighted that the price action remained subdued, with the index confined to a narrow range and offering limited clarity regarding the near-term trend. The market outlook is expected to remain cautious until the benchmark index reclaims the 23500 level on a sustained basis. “From a technical perspective, the 23500-23580 zone represents an immediate and formidable resistance area, and a decisive breakout above this band would be necessary to revive bullish momentum and potentially propel the index towards the next key resistance near 23800. On the other hand, the 23350-23000 region is expected to provide support against short-term declines, and only a sustained breakdown below this zone may open the path towards the 23120-23100 levels in the forthcoming sessions,” he said. Benchmark indices on Wall Street came under profit-taking pressure on Wednesday, 23 September, as a sharp rise in bond yields, along with a recovery in oil prices from recent lows, weighed on investor sentiment. The Dow Jones Industrial Average fell 350 points, giving up all of the gains posted in the previous session. The S&P 500 declined 0.75%, while the Nasdaq dropped 1.1%, retreating from record-high levels. Meanwhile, the 10-year US Treasury yield recorded its biggest single-day increase since April 7, 2025, climbing to 5.135%. The yield touched its highest level since July 2007, adding to pressure on equities. Oil prices held onto their gains as tensions between the US and Iran resurfaced, with Iranian President Masoud Pezeshkian’s firm remarks underscoring the significant differences that remain between the two countries after months of conflict in the Middle East. West Texas Intermediate (WTI) for November delivery traded above $92 a barrel after rising 1.8% on Wednesday, while Brent crude settled above $103. Speaking at the United Nations, Pezeshkian said Iran would not bow to threats and outlined several conditions that would need to be met before substantive negotiations could resume. Japanese stocks resumed trading after a three-day market holiday, with the Nikkei 225 opening 0.6% higher and extending its gains to 1.25% at 65,828.43. Technology stocks led the gains in morning trade. SoftBank Group climbed 6.24% to 6,709 yen (around $42), while Kioxia rose 3.76% to 56,620 yen, reflecting strong buying interest in Japan’s semiconductor and technology sectors. Taiwan’s stock market snapped its upward trajectory, with the TAIEX index trading marginally lower at 47,805.86 on 23 September. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions. Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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