Mumbai: Indian benchmark indices opened slightly higher as softer global crude oil prices, a stronger rupee and upbeat overseas markets supported investor sentiment.
At 9.20 am, the BSE Sensex gained 64 points, or 0.10 per cent, to 74,914. The NSE Nifty 50 rose 34 points, or 0.15 per cent, to 23,449.
Broader Markets Outperform
The broader market outpaced the headline indices in early trade. The Nifty Midcap 100 climbed 0.33 per cent, while the Nifty Smallcap 100 advanced 0.40 per cent, signalling continued interest in mid-cap and small-cap shares.
Most sectoral indices traded higher. Nifty Realty led the gains with a rise of 1 per cent, followed by the chemicals index, which increased 0.64 per cent. Nifty IT declined 1.09 per cent, while Nifty FMCG slipped marginally by 0.01 per cent.
Crude Correction Offers Relief
WTI crude oil traded in the $92–$93-a-barrel range, offering some relief to India, a major oil importer. A firmer rupee also improved the broader macroeconomic mood.
Analysts said stabilising precious metal prices and attractive fixed-income returns could encourage investors to consider a diversified multi-asset investment strategy.
Key Nifty Levels To Watch
The Nifty 50 had gained 0.29 per cent in the previous session to close at 23,414. Analysts placed immediate support at 23,250–23,300 and resistance at 23,550–23,600.
Bank Nifty, which closed 0.20 per cent higher at 56,470, has support at 56,000–56,300 and resistance at 56,800–57,000.
Global Markets Support Sentiment
Asian markets were positive, with Japan’s Nikkei and South Korea’s Kospi recording gains. Overnight, the Nasdaq jumped 2.26 per cent, the S&P 500 rose 1.49 per cent and the Dow Jones advanced 0.71 per cent.
Foreign institutional investors sold equities worth ₹576 crore on September 21, while domestic institutional investors purchased shares worth ₹2,800 crore. Domestic buying helped cushion the impact of foreign selling.
