Indian Stock Market Opens Lower Amid Global Weakness, IT and Services Under Pressure

Mumbai, September 9 (Daily Kiran) : The Indian stock market opened lower on Wednesday, September 9, 2026, reflecting negative global cues. By 9:22 AM, the Sensex had dropped 533 points, or 0.71%, to 75,044, while the Nifty fell by 135 points, or 0.57%, to 23,498.

The IT and services sectors were the main contributors to this early decline. The Nifty IT and Nifty Services indices emerged as the biggest losers. Other sectors, including Nifty Financial Services, Nifty Realty, Nifty Auto, Nifty PSU Bank, Nifty Private Bank, Nifty FMCG, Nifty Media, Nifty Consumption, Nifty Oil & Gas, and Nifty India Manufacturing, also registered losses.

In contrast, the Nifty Energy, Nifty Healthcare, Nifty PSU, Nifty Pharma, Nifty Metal, and Nifty Commodities indices were performing well, showing gains.

Notable gainers in the Sensex pack included L&T, NTPC, Sun Pharma, Power Grid, Tata Steel, BEL, Adani Ports, and Kotak Mahindra Bank. Meanwhile, major losers included HCL Tech, Tech Mahindra, Infosys, TCS, HUL, M&M, Bharti Airtel, Bajaj Finance, HDFC Bank, Ultratech Cement, ICICI Bank, ITC, Titan, Maruti Suzuki, and Asian Paints.

Asian markets showed mixed results, with Tokyo, Shanghai, Bangkok, and Seoul trading in the green, while Jakarta was in the red. U.S. markets closed lower on Tuesday, with the Dow Jones down 1.18% and the Nasdaq falling by 0.32%.

Experts noted that two significant challenges are currently impacting the market. First, escalating tensions between the U.S. and Iran have pushed Brent crude prices close to $100 per barrel, creating pressure on the economy. Second, the rapidly growing IPO market is draining liquidity from the market, contributing to the continued decline in the Nifty. It appears that the second factor may be having a more pronounced effect than the first.

Since June, the listing gains from IPOs have surged to nearly 22%, attracting both retail and institutional investors to the IPO market. This trend is understandable, considering the Nifty’s return has been -9.5% so far this year. Even foreign institutional investors, who have sold equities worth ₹284,000 crore through exchanges this year, have invested approximately ₹36,000 crore in IPOs.