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Nifty Faces Pressure: Oil Prices, Q2 Earnings Crucial for Market Rebound
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CNBC TV18•25-09-2026, 15:52
Nifty Faces Pressure: Oil Prices, Q2 Earnings Crucial for Market Rebound
- •Indian equities face near-term pressure unless oil prices ease or Q2 earnings provide a strong boost, according to Rahul Sharma of JM Financial Services.
- •Rising oil prices above $100 per barrel could push the Nifty lower, with 23,070 identified as a critical support level.
- •A decisive close below 23,070 could lead the Nifty towards 22,500, extending its rare seven-week losing streak.
- •The selloff has spread to small and mid-cap segments, which previously drove market gains, with Pharma being a notable exception.
- •JM Financial recommends Tata Steel and RBL Bank, with targets of ’210 and ’475 respectively, and highlights Divi’s Laboratories, Laurus Labs, and Eternal as promising stocks.
Key Questions Answered
According to JM Financial analyst Rahul Sharma, 23,070 is a critical support level for the Nifty, and a decisive close below it could drag the index down toward 22,500 or lower.
Indian equities remain under pressure due to crude oil prices surging above $100 a barrel and a recent sharp market selloff triggered by negative news from the insurance sector.
While the pharma sector and stocks like Eternal, Tata Steel, and RBL Bank show resilience or favorable risk-reward recoveries, small- and mid-caps have joined the broader market selloff.
