Markets open lower as strong US jobs data revives rate hike fears; IT stocks drag
The weakness follows Wall Street's tumble on Friday after US non-farm payrolls for August came in at 162,000, well above estimates of around 50,000–56,000, while the July figure was revised higher
On Monday, September 7, 2026, major stock indices opened lower as a robust US jobs report heightened concerns of a potential Federal Reserve rate increase. The Sensex and Nifty 50 both closed in the red, with the Sensex dropping 0.15% and the Nifty 50 declining 0.17%. This downturn followed Wall Street's decline the previous day, where US non-farm payrolls for August exceeded expectations at 162,000, while the July figure was revised upward.
The 10-year Treasury yield rose to 4.79%, and the odds of a Fed rate hike at the September meeting now stand at 58-62%. Brent crude oil prices remained high near $96.5 per barrel due to tensions near the Strait of Hormuz. The IT sector bore the brunt of the market's weakness, with companies like Infosys, Tech Mahindra, and Wipro leading the losses.
Domestic institutional investors still showed support, investing ₹8,930 crore in 19 consecutive sessions, while foreign investors remained net sellers. Twelve mainboard IPOs were scheduled to debut, potentially absorbing liquidity from the market.
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Also reported by 1 other outlet
- IT Stocks Fall Up To 2% As Strong US Jobs Data Raises Fed Rate Hike Concerns freepressjournal.in
