Monday, September 28, 2026, pre-open. Overnight moves, the freshest corporate filings, & what is likely to matter in today's session. Informational only, not investment advice.
Snapshot: Commodities, Rates & Macro
| Item | Level | Move | One-line note |
|---|
| Gold (spot) | below $4,200/oz | ~-2% Mon am | Lowest since August 5 as Fed-hike odds firm & the dollar holds |
| Silver (spot) | below $62/oz | ~-2.5% Mon am | First time under $62 since early August; down ~6% for the month |
| Brent crude | $106.00/bbl | +1.55% Mon am | Iran holds its Hormuz conditions; Washington has not accepted |
| WTI crude | $93.47/bbl | +1.1% Mon am | Tracks Brent; US supply premium narrower |
| US 10-year Treasury | 5.21% | +4 bp in Asia | Highest zone since mid-2007; 2-year up 55 bp this month |
| US 30-year Treasury | ~5.52% | +27 bp this month | Near its highest since 2004 |
| India 10-year G-sec | 7.11% | flat Friday | RBI sells Rs. 25,000 crore of bonds today; 7.15% watched as resistance |
| USD/INR | 95.80 | rupee +19 paise Fri | Dealer range 95.60-96.10 seen today; geopolitics the swing factor |
| China industrial profits (Aug, out Sunday) | +4.2% y/y | weakest of 2026 | July was +11.2%; weak domestic demand & poor pricing power |
The Big Picture: a seventh weekly loss behind us, a rates question in front
- Where the market stands. Friday's bounce (Nifty +0.34% to 23,140.50, Sensex +315 points to 73,895.74) did not rescue the week: the Nifty logged its seventh straight weekly loss, the longest streak since the Covid crash of February-April 2020. The damage is broad: 18 of the 50 Nifty stocks now trade more than 20% below their 52-week highs, & roughly Rs. 31.35 lakh crore of market value has been erased from those peaks. Foreign investors have sold Rs. 17,131 crore of Indian equities in September alone (Friday: FII -Rs. 3,694 crore, DII +Rs. 2,838 crore).
- This morning's cues. GIFT Nifty at ~23,115, about 73 points below Friday's close, points to a soft open. Asia is mostly lower: South Korea's Kospi, reopening after the Chuseok holidays, fell between 1.5 & 2% through the morning (Samsung Electronics down over 3%, SK hynix nearly 4%, foreigners heavy net sellers) as 2007-high US yields hit chip valuations; mainland China's CSI 300 fell 1.24%; the Nikkei was near flat. US stock futures are modestly lower.
- The correction that matters for today: the bank strike is off. The three-day nationwide strike planned for today through Wednesday was deferred late on Sunday night after a meeting between the United Forum of Bank Unions & the Indian Banks' Association. A high-level committee will examine declaring all Saturdays bank holidays, & the performance-linked-incentive scheme goes back for discussion. Banks operate normally today; the disruption premium priced into PSU bank names on Friday should unwind.
- The macro pivot of the day. The RBI conducts an open-market SALE of Rs. 25,000 crore of government bonds this morning (a liquidity-draining measure, the final announced tranche), & Nomura's new report argues the market has overdone its rate fears: details in Macro below.
- The week's calendar is compressed. NSE's monthly F&O expiry is tomorrow (Tuesday). The paperboard minimum import price lapses Wednesday, September 30. US PCE inflation, final Q2 GDP & ADP all land Wednesday; US payrolls come Friday, when Indian markets are shut for Gandhi Jayanti, making this a four-day trading week. China trades only Monday to Wednesday before its Golden Week holiday (October 1-7).