Indian Equity Markets
The Indian equity market remained under pressure in September, with the Nifty 50 closing at 23,140.50 and recording its seventh consecutive weekly decline. The Sensex closed at 73,895.74, while the Nifty was down around 7% over one year, although the Nifty Midcap 100 and Smallcap 100 gained 5.8% and 9.7%, respectively. India VIX stood at 12.18, while foreign portfolio investors sold around ₹21,000– 23,700 crore of Indian equities during the month. Sector performance was mixed, with Metals and Pharma among the stronger performers, while IT and FMCG remained weaker.
Gold – Recovery and renewed safe-haven demand
Gold has weakened in September, with MCX gold slipping below ₹1.50 lakh per 10 g on rate-hike fears and the US-Iran impasse. Central bank buying and positive bank forecasts still support the medium-term case. Gold (MCX): About ₹1,50,100 per 10 g, roughly 17% below its 2026 high Pressure: Fed rate hike and US-Iran impasse Support: Steady central bank buying and analyst targets of US$5,000 to US$6,300 an ounce ETF Flows: Net inflows of ₹2,597 crore in August (AMFI)
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