Indian equities fall as oil eases, Nifty ends four‑day streak at 23,329

Nifty slipped 85 points to close at 23,329 on 22 September 2026, ending a four‑day winning streak, while Sensex dropped 330 points to 74,529. Nifty Bank fell 255 points to 56,215 and mid‑cap index eased 50 points to 61,963. Markets steadied after Brent crude cooled below $100 a barrel, following reports that Iran may reopen the Strait of Hormuz if U.S. military pressure eases, sparking hopes of a diplomatic breakthrough. India VIX fell nearly 3% to 10.9, showing reduced volatility. IT stocks led the declines and oil‑sensitive shares moved with crude’s swing. Coal India rose more than 3% after a Morgan Stanley upgrade, and Meesho, Optiemus Infra and Transrail surged on positive corporate news. The rupee firmed to 95.59 per dollar and gold and silver rebounded as the oil slide eased inflation worries. Investors now await U.S. Federal Reserve commentary on rates and inflation. Analysts note that the 23,200 level remains a key support point; holding above 23,300 could signal bullish strength, while a move above 23,500 would suggest recovery. RSI is near the 30 mark, hinting at an upward turn, and the Max Pain point has shifted to 23,450 with the put‑call ratio above 1, indicating reduced selling pressure. Traders are advised to avoid shorting Nifty and wait for confirmation as it tries to stay above 23,300. Raja Venkatraman, co‑founder of NeoTrader, holds SEBI registration INH000016223. Investment in securities carries market risk; readers should consult certified experts before acting.