On Thursday morning, September 24, 2026, the Indian stock market faced a sudden slump as trading began. The BSE Sensex tumbled by nearly 600 points, or 0.79 percent, dropping to 74,240.87 within minutes of the opening bell. Early morning signals from GIFT Nifty futures had already indicated a rough start for the benchmark index. Almost all major stocks felt the pressure, with only Tech Mahindra and Sun Pharma managing to stay in positive territory among the 30 Sensex companies. This downturn marks a sharp reversal from Wednesday's gains, when the Sensex rose nearly 300 points to settle at 74,828.25 and the Nifty 50 closed at 23,446.80.

The main driver behind this market weakness is the sharp spike in international crude oil prices. Oil prices climbed above $100 a barrel on Wednesday following tense statements at the United Nations General Assembly, where Iranian leadership firmly rejected American political pressure. Rising crude prices affect sentiment across Indian companies, reversing Wednesday's gains when oil below $100 had encouraged buying in metal, financial, and consumer goods shares. Although Brent crude cooled slightly on Thursday morning to trade near $102.50 per barrel, prices remain elevated. Amidst this market drop, Indian investors are watching the market debut of the National Stock Exchange (NSE), which is expected to see a modest 2 to 3 percent gain as it lists on the BSE.

Asian and global markets move in different directions

Shifting focus to the broader region, stock markets across Asia presented a mixed picture on Thursday. Investors around the world are keeping a close eye on the high-stakes summit in Washington between US President Donald Trump and Chinese leader Xi Jinping. The discussion covers major global issues, including trade rules, artificial intelligence regulations, and the ongoing war in the Middle East. To keep talks on track, the United States announced that both nations agreed to extend their tariff truce by two months until January 10. However, expectations for major business deals remain cautious because no Chinese corporate leaders accompanied Xi, even as prominent American technology executives joined the summit gathering.

As a result, Asian trading remained mostly muted. Major indexes in Hong Kong and Shanghai both dropped 0.5 percent during morning trade, while South Korea's market remained closed for a public holiday. Conversely, Japan's Nikkei 225 index surged 1.6 percent after returning from a three-day break, despite Japanese ten-year government bond yields touching a 30-year high. At the same time, the US 10-year Treasury yield surged to 5.11 percent—its highest level since 2007—reflecting the Federal Reserve's recent interest rate hike aimed at controlling inflation.