By CNBCTV18.com September 10, 2026, 2:00:05 PM IST (Updated)
Stock Market LIVE Updates: The Nifty 50 has already lost 900 points in the September series so far. Will the oversold levels bring a bounce? Or will the elevated crude prices and bond yields continue to dampen sentiments? Watch this space for all the LIVE stock market updates.
Stock Market LIVE Updates: Today is the weekly options expiry of the Sensex contracts. In the 11 trading sessions of the September series so far, the Nifty has gained in only two of them, declining 900 points so far.
That does not come as a surprise considering two of its biggest constituents – Banks and IT have been underperforming. The Nifty IT index is down 8% in the seven sessions so far of September. The sell-off has pushed the Nifty RSI to 26.4, which is “oversold”, and the lowest since March 13, 2026.
A close below 23,500 has also meant that the June series low of 23,313 also opens up on the downside, while the bulls would want to aim for a bounce from oversold levels and close above the mark of 23,500.
Even if the bulls aim for a bounce, the biggest hurdle is oil, with Brent now having crossed $101 a barrel. The Nifty Bank continued to slide as well and the next level of support on the downside is at 56,000, followed by the June low of 55,726.
Broader markets have remained fairly resilient but the question is for how long can they do the heavy lifting as well? Keep an eye on stocks like Redington, IRB Infra, Enviro Infra, Indian Bank among others.
Watch this space for all the LIVE stock market updates.
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