The Nifty opened nearly 200 points lower at 23,858 and touched an intraday low of 23,787 before recovering in the afternoon.

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Markets extended their losses for a third straight session on Wednesday, with the Nifty slipping below the 24,000-mark as rising crude oil prices and a sell-off in global bonds weighed on investor sentiment. However, the benchmarks recovered sharply from their intraday lows and closed near the day’s highs, highlighting heightened volatility during the session.The Sensex closed at 76,570.35, down 373.93 points or 0.49 per cent, while the Nifty ended at 23,914.45, lower by 141.35 points or 0.59 per cent. The Sensex recovered over 430 points from its intraday low of 76,135.72 and closed at the day’s high. The Nifty also recovered from a low of around 23,787 to end near its session high. Of the 50 Nifty constituents, 36 ended in the red. India VIX rose around 5 per cent to 11.59, signalling increased near-term volatility.“Markets are likely to remain under pressure as concerns over rising crude oil prices, bond yields and the dollar index keep investor sentiment cautious,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services. He noted that Brent crude had risen above $95 a barrel, while elevated global bond yields and a firmer dollar, nearing the 100-mark, were adding to pressure on equities.The rise in oil prices has renewed concerns over inflation and interest rates, while global bond yields moved to multi-year highs. The US 10-year Treasury yield rose to around 4.82 per cent, its highest level since November 2023, while the 10-year Japanese government bond yield remained above 3 per cent. Asian markets also declined sharply, with Japan’s Nikkei falling nearly 2.9 per cent and South Korea’s Kospi losing nearly 4 per cent. The pan-European STOXX 600 was down around 0.3 per cent, while German and French equities also traded lower.US stocks had also ended lower in the previous session, while Wall Street futures pointed to a weak opening on Wednesday, adding to the cautious global backdrop. Brent crude climbed to around $97 a barrel, taking its weekly gain to nearly 9 per cent, while domestic crude futures moved towards ₹8,600. The US 10-year Treasury yield remained near 4.79 per cent.“Markets plunged sharply on Wednesday and lost over half a percent amid weak global cues and rising geopolitical tensions,” said Ajit Mishra, SVP Research at Religare Broking. The rise in oil prices has raised concerns over inflation and global interest rates, he said, advising investors to maintain a cautious stance, keep position sizes light and focus on risk management.Selling was broad-based, with Auto, IT and Media declining between 1.2 per cent and 1.8 per cent. Energy and oil and gas stocks gained amid higher crude prices. Eicher Motors, Wipro, Bajaj Auto, Asian Paints and M&M were among the top laggards, while Coal India, NTPC, Adani Ports, Bajaj Finserv and Adani Enterprises gained. The Nifty Midcap 100 declined 0.5 per cent and the Nifty Smallcap 100 fell 0.4 per cent.The rupee remained relatively firm, trading at 94.97 against the US dollar and gaining around 0.13 per cent. RBI intervention and modest FII buying supported the currency despite higher crude prices. Jateen Trivedi, VP Research Analyst at LKP Securities, expects the rupee to trade in the 94.70–95.20 range, with US Non-Farm Payrolls data among the key near-term triggers.Gold prices declined about 1 per cent to around ₹1,50,250 per 10 grams domestically, pressured by a stronger dollar and higher bond yields. Trivedi expects gold to trade in the ₹1,48,000–₹1,52,500 range, with US jobs data likely to influence Federal Reserve rate expectations.On the policy and diplomatic front, Japan Credit Rating Agency upgraded India’s sovereign rating to A- from BBB+, with a stable outlook, citing strong economic growth and improving fiscal metrics. India and Uzbekistan also elevated bilateral ties to a Comprehensive Strategic Partnership and agreed on a long-term uranium supply arrangement, while targeting $5 billion in annual bilateral trade by 2030.Markets will track India's Services PMI, the US ISM Services PMI and Initial Jobless Claims for further cues. On the technical front, 23,800 remains a key support for the Nifty, with a break below it potentially taking the index towards 23,600. On the upside, 24,000 and 24,150–24,200 are likely to act as resistance.Published on September 2, 2026