Indian equities opened higher on Friday, with gains in IT stocks and encouraging domestic economic indicators supporting sentiment.
The Sensex rose 515 points, or 0.68 per cent, to 76,668, while the Nifty added 51 points, or 0.22 per cent, to 23,925.
The Nifty Midcap 100 edged up 0.03 per cent, and the Nifty Smallcap 100 gained 0.49 per cent.
The Nifty IT index climbed 0.65 per cent, making it the best-performing sectoral index.
Realty followed with a 0.50 per cent gain, while Nifty Consumer Durables fell 0.50 per cent.
Market analysts pointed to elevated global bond yields as a risk for equities.
The US 10-year yield remained around 4.8 per cent, while Japan’s 10-year yield stood at 3 per cent and the UK’s 30-year yield at 6 per cent. India’s 10-year yield was close to 7 per cent.
Strong GST collections, automobile sales and credit growth continued to support the domestic outlook.
Brent crude traded near $96–97, keeping geopolitical concerns linked to the US-Iran conflict in focus.
Asian markets were positive, with the Nikkei gaining 1.14 per cent, Hang Seng 2.09 per cent, Kospi 1.31 per cent, Shanghai 0.35 per cent and Shenzhen 0.27 per cent.
Overnight, the Nasdaq rose 1.4 per cent, the S&P 500 gained 1.06 per cent, and the Dow Jones advanced 1.18 per cent.
For the Nifty, support stands at 23,800–23,850 and resistance at 24,050–24,100.
Bank Nifty support is at 57,000–57,200, with resistance at 57,800–58,000.
On September 3, FIIs sold Rs 2,346 crore of equities, while DIIs bought Rs 4,977 crore.
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