Indian Stocks Advance as Value Buying Lifts Indices Despite Global Tensions

Indian stock markets closed higher on Monday, 21 September, ending a six-week losing streak as value buying and recovering oil stocks boosted key indices.

Market Movements

The Nifty climbed 0.29 percent to close at 23,414, while the Sensex rose 0.81 percent to 74,894. Frontline indices bounced back after opening lower, supported by heavyweights like HDFC Bank, ICICI Bank, ONGC, and Reliance Industries. Broader markets showed mixed trends, with the Nifty Midcap 100 dropping 0.23 percent and the Smallcap 100 staying flat. Sector-wise, gains hit pharma, realty, FMCG, consumer durables, and oil and gas, while metal and PSU bank stocks lagged.

Corporate and Global Cues

Tata Group shares fell further amid a leadership dispute between Tata Trusts and Tata Sons. In commodities, Brent crude dropped 2.1 percent to $101.65 per barrel as Strait of Hormuz oil flows picked up, though US-Iran tensions and Saudi pipeline closures continued to apply pressure. Across Asia, major markets closed higher ahead of a planned meeting in Washington between US President Donald Trump and Chinese leader Xi Jinping. Taiwan's Taiex rose 1.1 percent, Hong Kong's Hang Seng gained 0.9 percent to 24,975.58, and the Shanghai Composite added 1 percent to 3,949.91, while Japanese markets remained closed for holidays.