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NIFTY50 gains for a second straight session as drop in crude lifts sentiment

image Abhishek Vasudev
By Abhishek Vasudev

3 min read | Updated on September 17, 2026, 16:09 IST

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SUMMARY

Brent crude futures fell as much as 2.27% to an intraday low of $103.41 per barrel after reports suggested Saudi Arabia is offering ‌extra crude cargoes through Oman.

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The SENSEX ended 22 points lower at 74,315 and NIFTY50 index advanced 0.23% or 53 points to close at 23,271. | Image: Shutterstock

The Indian equity benchmarks came off intraday highs to close on a flat note on Thursday, September 17. The SENSEX rose as much as 341 points and NIFTY50 index touched an intraday high of 23,364 as investor sentiment got a boost tracking a drop in crude prices in international markets. The benchmarks, however, erased intraday gains to end on a flat note owing to weakness in banking shares.

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The SENSEX ended 22 points lower at 74,315 and NIFTY50 index advanced 0.23% or 53 points to close at 23,271.

Brent crude futures fell as much as 2.27% to an intraday low of $103.41 per barrel after reports suggested Saudi Arabia is offering ‌extra crude cargoes through Oman, reducing the fears of supply disruptions in the Middle East.

Saudi Arabia is offering more loadings of crude oil to Asian refiners via ship-to-ship transfers off Oman's Sohar port, people familiar with the matter said, blunting some of the hit to global supply from attacks on the Saudi Arabia's East-West pipeline to the Red Sea, news agency Reuters reported.
Back home, Tata Group shares came under buying interest after Tata Sons' board voted to reappoint N Chandrasekaran as chairman for a third five-year term, weeks after he told directors he did not intend to seek a third term, PTI reported citing people familiar with the deliberations, in a scenario that would mark a reversal driven by regulatory pressure on the group's holding company.

11 of 15 major sector gauges compiled by the National Stock Exchange (NSE) ended higher led by the NIFTY Pharma index’s 1.66% gain. NIFTY Healthcare, Realty, Metal, Media, Financial Services, IT and Auto indices also rose between 0.2% and 1.5%.

On the other hand, NIFTY Bank, Private Bank, PSU Bank and Oil & Gas indices closed lower.

Shares of companies like New India Assurance, General Insurance, IFCI, among other corporate selling stakeholders in the NSE IPO, surged up to 9% during the session as the National Stock Exchange’s initial public offering opened for public subscription.

HDFC Life was top gainer in the NIFTY50 index, the stock rose 5.05% to close at ₹557. Tata Motors PV, SBI Life, Dr Reddy's Labs, Bharat Electronics, InterGlobe Aviation, Tata Steel, Jio Financial Services and Eternal also rose between 1.7% and 4.5%.

On the flip side, ONGC, Titan, HDFC Bank, Hindustan Unilever, Coal India, Nestle India, ICICI Bank, Bajaj Auto, Grasim Industries and Wipro were top losers in the NIFTY50 index.

The overall market breadth was positive as 2,262 shares ended higher while 1,279 closed lower on the NSE.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial adviser before making any investment decisions.

About The Author

image Abhishek Vasudev
Abhishek Vasudev is a business journalist with over 15 years of experience covering business and markets. He has worked for leading media organisations of the country.

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