Indian exchanges were closed for Ganesh Chaturthi, but the day was anything but quiet: Brent crude jumped 2.6% to $107.35 a barrel after Saudi Arabia halted its East-West pipeline following drone attacks, dragging Asia and Europe lower and hardening bets on a Fed rate hike this week.

India: exchanges shut, data didn't stop

• NSE and BSE were closed all day — no trading or settlement in equities, derivatives or SLB, per Business Standard. Trading resumes Tuesday, pre-open 9:00 AM IST. There is no FII/DII activity to report.
• Last close (Friday, Sep 11), as reported by Business Standard: Sensex 74,781.76 (-120.83 pts, -0.16%) and Nifty 50 23,398.10 (-79.70 pts, -0.34%), with IT, FMCG and banks cushioning the fall.
• August WPI inflation came in at 9.92%, up from 9.78% in July, per Business Standard. Fuel and power ran at 22.93% and mineral oils at 38.48% — the crude shock is already in the wholesale data.
• August CPI rose to 4.82% from 4.45% in July (Trading Economics), still inside the RBI's band but the highest in over a year, with energy the driver.

Why everything moved: oil

Saudi Arabia shut the East-West pipeline — roughly 7 million barrels/day of capacity to Red Sea ports — after drone strikes, and Iran-Gulf talks on a temporary Strait of Hormuz shipping corridor were postponed. Brent is up about 9% in a week; WTI added 2.4% to $102.48. Gold slipped 0.3% to about $4,336/oz.

Asia and Europe

• Nikkei 225 closed near 63,390, down about 0.97%; Kospi fell 3.3% (Reuters via Israel Hayom).
• Hang Seng ended down 0.5% (118 pts) at 24,687, a fourth straight loss, on oil and rate worries; Shanghai Composite around 3,883.
• Euro Stoxx 50 was off about 1.02% at 6,260. Chipmakers led the fall — ASML down over 6% alongside Infineon — while energy majors Shell, TotalEnergies and BP each gained around 1%. More names on the movers page. (Our verified move ledger had no entries dated today, so these come from cited news.)
• US futures pointed lower: Nasdaq futures -1.1%, S&P 500 futures -0.5%, with the 10-year Treasury yield at 4.967% after a 19bp climb last week.

Sentiment

Clearly risk-off, and unusually so: this is a sell-off driven by a supply shock feeding straight into inflation, which is why bonds offered no shelter. Reuters reported traders pricing an 86% chance of a 25bp Fed hike Wednesday and a 76% chance of a Bank of Japan hike Friday.

What to watch

The FOMC decision, dot plot and press conference land Wednesday at 2pm ET, alongside August US retail sales — a hike would be the market's base case confirmed, but the projections matter more than the move. Thursday brings jobless claims, housing starts and the Philly Fed; the Bank of Japan decides Friday, the same day India publishes forex reserves. For India specifically, Tuesday's reopen has to absorb two sessions of oil news at once, and today's WPI print sets the tone for margin-sensitive sectors. Full schedule on the calendar.

As of 4:10 PM IST, 14 September 2026. Sources: Business Standard, Business Standard (WPI), Trading Economics, Reuters via Israel Hayom, Kiplinger. All prices and index levels are as reported by these sources, not live exchange data. Automated market wrap for discussion and education only — not investment advice. Verify before acting.