Nifty, Sensex Open Higher Despite Mixed Global Cues, Elevated Crude Prices

Indian equity markets opened with modest gains on Thursday despite mixed global cues, elevated crude oil prices and concerns over US interest rates.

The Sensex gained 168 points, or 0.23 per cent, to reach 73,414, while the Nifty rose 45 points, or 0.20 per cent, to 22,744 as of 9.25 am.

Broader markets followed the benchmark indices, with the Nifty Midcap 100 advancing 0.25 per cent and the Nifty Smallcap 100 rising 0.13 per cent.

Sectoral indices traded mixed on the National Stock Exchange (NSE). Nifty IT led the gains, climbing 0.80 per cent, followed by Nifty Pharma, which rose 0.30 per cent. Nifty Private Bank and Nifty Media declined 0.18 per cent and 0.16 per cent, respectively.

Market analysts said the gains could remain selective unless the Nifty decisively crosses 22,800. Uncertainty surrounding the US Federal Reserve’s policy outlook, high crude prices and elevated US bond yields continued to weigh on investor sentiment.

Brent crude traded near $114.50 a barrel amid persistent geopolitical uncertainty, raising concerns over energy costs and pressure on oil-sensitive sectors.

The US Federal Reserve kept interest rates unchanged, although two members voted for a rate increase. Markets subsequently raised expectations of another hike in December, while the US 10-year Treasury yield climbed to around 5.02 per cent.

High US yields may limit foreign inflows into India. The Nifty fell 0.22% to 22,698, while Bank Nifty rose 0.54% to 54,267.

Asian markets were mixed, while US indices closed higher. On October 28, FIIs bought ₹872 crore in equities and DIIs ₹643 crore.

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