Indian equity markets closed for Ganesh Chaturthi; Asian stocks fall amid West Asia tensions

Indian stock markets observed a hiatus on Monday to observe Ganesh Chaturthi, with no trading or settlement activities held on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) across equity, derivatives, and securities lending and borrowing (SLB) segments. The exchanges will reopen on Tuesday, September 15, 2026.

Meanwhile, Asian markets experienced a general downtrend on Monday, triggered by growing apprehensions about tensions in West Asia and their implications for global energy supplies. Japan's Nikkei 225 fell 0.59 per cent, while the Topix index declined by 0.15 per cent. South Korea's Kospi index dropped 3.45 per cent in the morning, while the Kosdaq fell 2.30 per cent.

In Australia, the S&P/ASX 200 remained largely unchanged. Markets in mainland China and Hong Kong also declined. Hong Kong's Hang Seng Index slipped 0.33 per cent, and China's CSI 300 index fell 0.66 per cent. Among the declining stocks in the Hang Seng, technology and basic materials witnessed the steepest declines, falling 0.82 per cent and 0.80 per cent, respectively.

Energy supply concerns were exacerbated by Saudi Arabia's closure of the East-West pipeline, an alternate route for oil transportation bypassing the Strait of Hormuz. This action, coupled with fresh attacks on Saudi Arabia and vessels in the Gulf region, led to a sharp surge in oil prices. Brent crude futures increased by 2.6 per cent to $107.36 a barrel, while US crude, or West Texas Intermediate (WTI), rose 2.4 per cent to $102.48 a barrel.

As of the latest report, Brent crude was trading near $107.86 per barrel, and US crude was quoted around $103.18 per barrel. Concurrently, gold prices slipped by 0.3 per cent to $4,336 an ounce due to the increased bond yields making the non-interest-bearing asset less attractive. The price of gold was recorded at approximately $4,331.20 an ounce at the time of reporting.