US-Iran talks today? Oil slips to $98 a barrel; will Sensex, Nifty rebound?
With crude prices witnessing a sharp correction in recent weeks, Nair said market participants are increasingly focused on the sustainability of this trend.
- Sep 22, 2026,
- Updated Sep 22, 2026 4:18 PM IST
Sensex, Nifty: Stock investors in India would be keenly following geopolitical developments later today amid prospects of US-Iran talks on the sidelines of the UN General Assembly. Reports that Iran has offered to reopen the Strait of Hormuz in seven days have improved sentiment, as have a recovery in Saudi oil supplies and Brent slipping to the $98-a-barrel mark.
"Expectations of renewed diplomatic efforts surrounding the Iran conflict and prospects of improved Saudi oil shipments eased concerns over inflationary pressures, while positive global cues lent additional support to the market," said Vinod Nair, Head of Research, Geojit Investments.
With crude prices witnessing a sharp correction in recent weeks, Nair said market participants are increasingly focused on the sustainability of this trend given its implications for inflation, bond yields and corporate earnings.
"While geopolitical uncertainties remain unresolved, sustained stability in energy prices could improve earnings visibility and provide a firmer foundation for a broader market recovery," he said.
For the day, the BSE Sensex settled at 74,529.08, down 329.91 points or 0.44 per cent. Nifty ended the day at 23,329.00, down 85.30 points or 0.36 per cent.
Sunny Agrawal, Head - Fundamental Research at SBI Securities said the US President Trump is scheduled to deliver his speech at the UN General Assembly tonight, noting that Dow futures were trading with gains of 120 points amid a possible agreement between USA and Iran over Strait of Hormuz.
Oil is expected to remain range bound, said N S Ramaswamy, Head of Commodity & CRM at Ventura.
Ramaswamy sees Brent to move in the $90-$95 per barrel range and WTI in $75-$80 range, if geopolitical supply risks completely neutralise resulting in de-escalation.
"The market approach is now a shift from panic buying to a wait-and-watch approach. The price action is not due to any physical demand, but the reaction to headline flows of international diplomacy. Physical inventory levels remain structurally tight with massive global stock drawdowns," Ramaswamy said.
Sensex, Nifty outlook
Shrikant Chouhan, Head Equity Research, Kotak Securities said 23,300 on Nifty and 74,500 on Sensex remained strong support zones for traders, followed by 23,250 level and 74,300 level, respectively.
"Above these levels, the market could bounce back to 23,500-23,575 (Nifty)/75,000-75,300 (Sensex). On the flip side, below 23,250/74,300, selling pressure is likely to accelerate. Below these levels, the chances of hitting 23,100-23,050/74,000-73,700 would increase," Chouhan said.
Sensex, Nifty: Stock investors in India would be keenly following geopolitical developments later today amid prospects of US-Iran talks on the sidelines of the UN General Assembly. Reports that Iran has offered to reopen the Strait of Hormuz in seven days have improved sentiment, as have a recovery in Saudi oil supplies and Brent slipping to the $98-a-barrel mark.
"Expectations of renewed diplomatic efforts surrounding the Iran conflict and prospects of improved Saudi oil shipments eased concerns over inflationary pressures, while positive global cues lent additional support to the market," said Vinod Nair, Head of Research, Geojit Investments.
With crude prices witnessing a sharp correction in recent weeks, Nair said market participants are increasingly focused on the sustainability of this trend given its implications for inflation, bond yields and corporate earnings.
"While geopolitical uncertainties remain unresolved, sustained stability in energy prices could improve earnings visibility and provide a firmer foundation for a broader market recovery," he said.
For the day, the BSE Sensex settled at 74,529.08, down 329.91 points or 0.44 per cent. Nifty ended the day at 23,329.00, down 85.30 points or 0.36 per cent.
Sunny Agrawal, Head - Fundamental Research at SBI Securities said the US President Trump is scheduled to deliver his speech at the UN General Assembly tonight, noting that Dow futures were trading with gains of 120 points amid a possible agreement between USA and Iran over Strait of Hormuz.
Oil is expected to remain range bound, said N S Ramaswamy, Head of Commodity & CRM at Ventura.
Ramaswamy sees Brent to move in the $90-$95 per barrel range and WTI in $75-$80 range, if geopolitical supply risks completely neutralise resulting in de-escalation.
"The market approach is now a shift from panic buying to a wait-and-watch approach. The price action is not due to any physical demand, but the reaction to headline flows of international diplomacy. Physical inventory levels remain structurally tight with massive global stock drawdowns," Ramaswamy said.
Sensex, Nifty outlook
Shrikant Chouhan, Head Equity Research, Kotak Securities said 23,300 on Nifty and 74,500 on Sensex remained strong support zones for traders, followed by 23,250 level and 74,300 level, respectively.
"Above these levels, the market could bounce back to 23,500-23,575 (Nifty)/75,000-75,300 (Sensex). On the flip side, below 23,250/74,300, selling pressure is likely to accelerate. Below these levels, the chances of hitting 23,100-23,050/74,000-73,700 would increase," Chouhan said.