Stock Market Today: Sensex, Nifty Open Higher As Crude Prices Ease

Indian equities opened slightly higher on Thursday as falling crude prices supported sentiment.

Expectations of Iran-Oman discussions on reopening the Strait of Hormuz eased concerns over prolonged oil disruptions.

At 09:18 AM, the Sensex rose 81 points, or 0.10 per cent, to 77,553. The Nifty climbed 37 points, or 0.16 per cent, to 24,425.

The Nifty Midcap 100 advanced 0.31 per cent, while the Nifty Smallcap 100 gained 0.24 per cent.

All NSE sectoral indices traded higher except Nifty Media. Nifty IT led the gains, advancing 0.42 per cent.

Brent crude declined 0.6 per cent to $87.30 a barrel after Iran indicated discussions with Oman to finalise an agreement concerning the Strait of Hormuz.

An analyst said the near-term market outlook remained cautious and range-bound. Mixed Asian markets and subdued global cues kept investors alert.

Inflation, bond yields and geopolitical developments remained key factors. Softer crude prices could offer support to Indian shares.

Market participants placed immediate Nifty support at 24,000–24,050. The 24,350–24,400 range remained a crucial resistance zone.

In Asia, Shanghai gained 0.63 per cent, and Shenzhen rose 1.17 per cent. Nikkei slipped 0.15 per cent, while Hang Seng fell 0.47 per cent. Kospi advanced 2.01 per cent.

Wall Street closed mixed to lower as investors assessed Nvidia’s earnings and renewed US inflation concerns.

Nasdaq fell 0.08 per cent, S&P 500 shed 0.02 per cent, and Dow Jones declined 0.21 per cent.

On August 26, FIIs bought equities worth Rs 502 crore. DIIs purchased shares worth Rs 6,425 crore.

Also Read: Stock Market Today: Sensex Ends 183 Points Lower, Nifty Settles At 24,208