Sensex, Nifty Start Higher As Global Markets Strengthen, US Bond Yields Ease

Mumbai: Indian equity benchmarks opened higher on Thursday, September 3, tracking positive global cues and gains across Asian markets, while easing US bond yields helped improve investor sentiment.

The Sensex opened 154.60 points, or 0.20%, higher at 76,724.95. The Nifty gained 83.50 points, or 0.35%, to open at 23,997.95, bringing the index closer to the 24,000 mark.

Banking, Realty Stocks Lead

Banking and realty shares led the early gains. Nifty PSU Bank and Nifty Realty rose up to 1%, while Nifty Private Bank advanced 0.83%. The Nifty MidSmall Financial Services index gained 0.82%.

However, technology shares remained under pressure, with Nifty IT falling 0.8%. Nifty FMCG declined 0.44%, while healthcare and pharmaceutical indices traded marginally lower.

Market sentiment received support from easing US bond yields and stronger Asian equities, which followed gains on Wall Street.

Crude oil prices also edged lower after US President Donald Trump played down the possibility of a prolonged conflict with Iran.

FCNR(B) Inflows Support Sentiment

The mobilisation of $136 billion under a concessional swap facility, including $127 billion through the FCNR(B) scheme, could support the rupee and improve foreign investor confidence.

Institutional flows also remained strong. Wednesday’s 141-point fall in the Nifty came despite institutional buying of about Rs 9,500 crore, including Rs 6,688 crore from foreign institutional investors and Rs 2,812 crore from domestic institutions.

Technically, a break above 24,150–24,215 could strengthen the Nifty’s recovery, while 23,860 remains an important downside level.