Tuesday, 15 September 2026 · pre-open edition · overnight moves, fresh filings & what should matter in today's session
Snapshot · Commodities, Rates & Macro
| Item | Level | Move | One-line note |
|---|
| Gold (spot) | $4,284/oz · MCX Rs 1,50,150/10g | -1.25% Mon | Rate-hike odds hurt non-yielding metals; futures trackers show slightly different levels |
| Silver (spot) | $63.22/oz · MCX Rs 2,30,300/kg | -2.1% Mon | Falls harder than gold: it carries both monetary & industrial sensitivity |
| Crude oil | Brent $107.06 · WTI $102.68 | +0.8% this morning | Saudi East-West pipeline out for weeks per AP; Brent up ~76% this year |
| US 10-year Treasury | 5.00% | +1.5 bps Mon | Crossed 5% intraday for the first time since October 2023; 2-year at 4.66% |
| India 10-year G-sec | 7.01% | Fri close | Bond market was shut Monday; reopens today to the CPI & WPI figures |
| USD/INR | 95.57 | Fri close | RBI reportedly intervening; rupee also reopens today |
| India CPI, August | 4.82% | vs 4.45% Jul | 20-month high, third month above the RBI's 4% target; food at 5.95% |
| India WPI, August | 9.92% | vs 9.78% Jul | Wholesale prices rising at twice the retail rate; fuel & power at 22.93% |
| US CPI, August (Fri) | 3.4% y/y · 0.4% m/m | firming | Pushed market odds of a Fed hike this Wednesday to roughly 85-87% |
The Big Picture: a three-day weekend's worth of news lands on one open
- Where we resume. Indian markets were closed Monday for Ganesh Chaturthi, so today's session is the first chance to react to everything since Friday's close (Nifty 23,398.10, down 0.34%; Sensex 74,781.76). As of 8 AM, GIFT Nifty futures at roughly 23,521-23,525 pointed to a modestly positive start, up about 0.3%. The market opens into an unusual combination: hot domestic inflation data, a probable US rate hike tomorrow night, & oil above $107.
- The inflation problem is now on both sides. August retail inflation came in at 4.82%, a 20-month high, & wholesale inflation at 9.92% is nearly double digits. On the US side, Friday's CPI (0.4% on the month, 3.4% on the year) firmed expectations that the Federal Reserve raises rates on Wednesday, which would be its first hike since mid-2023. Rate-sensitive sectors (banks, NBFCs, real estate) & long-duration valuations (high-multiple consumer & new-age names) carry the most exposure to this combination.
- Oil is the common thread. The Saudi East-West pipeline, the main workaround for Strait of Hormuz flows, has been shut since Friday's drone attack & may stay shut for several weeks according to regional officials cited by AP, though the US energy secretary expects it back "very soon". Brent at $107 keeps upward pressure on Indian inflation, the current account & the rupee, which reopens today at Friday's 95.57.
- The week's calendar is dense. Fed decision Wednesday 11:30 PM IST; NSE IPO anchor book Wednesday & public issue Thursday; Tata Sons board meeting Thursday on leadership & the RBI-forced listing; RBI's first Rs 50,000 crore OMO sale tranche Thursday; Bank of England Thursday & Bank of Japan Friday. Today itself brings the Skipper AGM, the Pranav Constructions listing & three SME IPO openings.