The Indian equity markets opened with marginal gains early on Friday, amid rising US Treasury yields and continued geopolitical uncertainty weighing on overall sentiment.
MUMBAI — The Indian equity markets opened with marginal gains early on Friday, amid rising US Treasury yields and continued geopolitical uncertainty weighing on overall sentiment.
As of 9.24 am, Sensex was up 96 points, or 0.13 per cent, to reach 73,676 and Nifty was up 20 points, or 0.09 per cent to reach 23,084.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 inched up 0.03 per cent, and the Nifty Smallcap 100 added 0.06 per cent.
Sectoral indices on NSE traded mixed with IT, FMCG, consumer durables and healthcare posting losses. Nifty IT was the top loser, down 1.37 per cent. Nifty realty was the top gainer, up 0.59 per cent.
The US 10-year Treasury yield has moved above the 5.20 per cent mark and remains close to multi-year highs, increasing pressure on global financial conditions and reducing the relative attractiveness of emerging market equities. The rise in global yields, combined with a stronger dollar, has also added pressure on the Indian rupee, analysts said.
On the geopolitical front, uncertainty remains elevated as diplomatic progress between the US and Iran remains unclear. Renewed tensions and continued risks around energy supply routes are keeping global investors cautious, with any further escalation capable of pushing crude prices higher again.
In the previous session, Nifty closed at 23,063, down 1.64 per cent. Immediate support is placed at 22,800–23,000, while resistance is seen at 23,250–23,300.
Bank Nifty closed at 55,438, down 1.96 per cent. Immediate support is placed at 55,000–55,200, while resistance is seen at 55,800–56,000.
In Asian markets, China's Shanghai index shed 1.04 per cent, and Shenzhen lost 2.34 per cent, Japan's Nikkei added 1.23 per cent, and Hong Kong's Hang Seng Index declined 1.77 per cent. South Korea's Kospi added 0.9 per cent.
US markets ended largely in red overnight, even as Nasdaq added 0.01 per cent. The S&P 500 lost 0.02 per cent, and the Dow Jones shed 0.31 per cent.
On September 24, foreign institutional investors (FIIs) net sold equities worth Rs 5,027 crore, while domestic institutional investors (DIIs) bought equities worth Rs 4,301 crore.