Indian Equity Indices Open Higher Amid Positive Global Cues
Mumbai: Indian equity indices started on a positive note on Friday, buoyed by encouraging signals from both Asian and US markets. As of 9:46 a.m., the Sensex rose by 82 points, or 0.10 percent, reaching 83,267, while the Nifty gained 40 points, or 0.16 percent, to settle at 25,455.
Investor interest was also evident in midcap and smallcap stocks, with the Nifty midcap 100 index increasing by 313 points, or 0.53 percent, to 59,665, and the Nifty smallcap 100 index climbing 137 points, or 0.72 percent, to 19,282.
Almost all sectoral indices were in the green, with notable gains in auto, PSU banks, financial services, FMCG, metals, real estate, energy, and infrastructure.
Among the top gainers on the Sensex were JSW Steel, Tata Steel, Mahindra & Mahindra, Maruti Suzuki, Bharti Airtel, L&T, Nestle, Reliance, Bajaj Finserv, Hindustan Unilever, Sun Pharma, State Bank of India, and Kotak Mahindra Bank. Conversely, Titan, Axis Bank, Tata Motors, NTPC, Bajaj Finance, IndusInd Bank, TCS, and UltraTech Cement were among the top laggards.
Hardik Matalia, Derivative Analyst, commented on market support levels, stating, “After a positive opening, Nifty can find support at 25,350, followed by 25,300 and 25,250. On the higher side, 25,500 may serve as an immediate resistance, followed by 25,600 and 25,650.”
Most Asian markets exhibited bullish trends, with Tokyo, Hong Kong, Seoul, and Bangkok trading in the green, while Shanghai and Jakarta showed declines. US markets also closed positively on Thursday.
In a notable development, the yen experienced volatility ahead of a critical monetary policy decision from the Bank of Japan, as traders anticipated signals regarding potential tightening measures. Japan’s consumer price index inflation rose in August, driven by increased consumption linked to higher wages, just ahead of the Bank of Japan’s meeting later in the day.
Foreign institutional investors (FIIs) turned net sellers, offloading equities worth Rs 2,547 crore on September 19, while domestic institutional investors maintained their buying momentum, purchasing equities worth Rs 2,012 crore on the same day.
