Saturday, 12 September 2026 · weekend edition · Friday’s session wrap, fresh filings & conditions heading into Tuesday’s session (Monday, 14 September, is a market holiday for Ganesh Chaturthi)
Snapshot · Commodities, Rates & Macro
| Item | Level | Move | One-line note |
|---|
| Gold (spot) | $4,385.6/oz | Roughly flat Friday; third straight weekly loss | MCX gold Rs. 1,52,075/10g (-0.18%); Comex futures near $4,409 |
| Silver (spot) | ~$64.9/oz | About -3.6% on the week | MCX silver Rs. 2,33,368/kg (-0.31%); daily-change figures varied across trackers |
| Brent crude | $104.61/bbl | -2.8% Friday; ~+8% on the week | WTI settled $100.05; war premium intact, Friday was profit-taking on Hormuz diplomacy signs |
| US 10-year Treasury | 4.97% | +3 bps Friday; touched near 5% | Highest in roughly three years; a global bond selloff, not just a US one |
| India 10-year G-sec | 7.02% | Rose Friday; crossed 7% | Oil & US yields pressing; RBI MPC is Oct 5-7 (repo 5.25%) |
| USD/INR | 95.57 | Rupee slipped 5 paise Friday | One wrap recorded 95.56; reports noted RBI stepping in as crude & the dollar pressed |
| US CPI, August (announced Friday) | +0.4% m/m; 3.4% y/y | Core +0.3% m/m; 2.4% y/y (eased from 2.5%) | Energy did the damage; Fed hike odds ended the week near 90% |
The Big Picture · a fifth losing week, then a Friday US rebound
- Friday in India. The Sensex closed at 74,781.76 (-120.83 points, -0.16%) & the Nifty at 23,398.10 (-79.70, -0.34%), but the closing numbers hide the shape of the day: the Sensex dived about 700 points intraday before recovering 622 points from the low. The Nifty Midcap fell 0.26% & the Smallcap 0.58%; Bank (+0.24%) & IT (+0.11%) held the index up while Nifty Metal fell 3% & Nifty Realty 4.5%. Breadth was poor: 1,739 advancing shares against 2,612 declining on the BSE. India VIX, the index of expected near-term volatility, rose 3.9% to 12.26.
- The week. Both benchmarks fell about 2% for the week, a fifth straight weekly loss, closing at their lowest levels since June 11. The pressure came from three directions at once: Brent up roughly 8% on the week on the US-Iran war, the US 10-year yield testing 5%, & India’s own 10-year crossing 7%, which mechanically hurts rate-sensitive sectors (realty’s 4.5% Friday fall is that repricing, not a property-market event).
- Friday in the US. Wall Street snapped a four-day losing streak: the S&P 500 rose 0.86% to 7,656.98, the Dow 0.98% to about 52,573 & the Nasdaq 0.96% to 26,333. Two things did it: August CPI arrived without an upside surprise (the monthly headline matched forecasts), & oil fell nearly 3% on signs of diplomacy around the Strait of Hormuz. Even so, all three indices ended the week lower (S&P -0.8%, Dow -1.6%, Nasdaq -0.7%). Nine of eleven S&P sectors rose, led by communication services & consumer discretionary.
- The week ahead is unusually dense. Monday: Indian markets shut for Ganesh Chaturthi, & India’s August CPI is expected (the release convention is the 12th at 4 PM; with the 12th falling on Saturday, expect it by Monday). Tuesday: markets reopen with two days of news to digest, & Skipper’s AGM. Wednesday: the Fed decision lands 11:30 PM IST; NSE’s IPO anchor book; Hero Motors’ IPO opens. Thursday: NSE’s IPO opens; Bank of England (hold at 3.75% expected). Friday: Bank of Japan (a hike is expected). Tuesday’s open therefore reacts to Monday’s CPI plus whatever the weekend does to crude.