Sensex, Nifty Start Higher As Global Markets Strengthen, US Bond Yields Ease
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Indian equity benchmarks began the trading session in positive territory on Thursday, September 3, supported by encouraging global signals and broad-based advances in Asian markets, while softening US bond yields further lifted investor mood.
Key Takeaways
- Sensex opened 154.60 points (0.20%) higher at 76,724.95 and Nifty rose 83.50 points (0.35%) to 23,997.95 on September 3, nearing the 24,000 mark.
- Banking and realty stocks led gains, with Nifty PSU Bank and Nifty Realty up nearly 1% and Nifty Private Bank up 0.83%.
- Nifty IT slipped 0.8% and Nifty FMCG fell 0.44%, while healthcare and pharma stayed roughly flat.
- Softer US bond yields and firm Asian markets, alongside easing crude oil prices, supported investor sentiment.
The Sensex started the day 154.60 points, or 0.20%, firmer at 76,724.95. The Nifty climbed 83.50 points, or 0.35%, to begin at 23,997.95, edging closer to the psychologically significant 24,000 level.
Banking, Realty Stocks Lead
Banking and realty counters spearheaded the early upswing. Nifty PSU Bank and Nifty Realty advanced as much as 1%, while Nifty Private Bank moved up 0.83%. The Nifty MidSmall Financial Services index rose 0.82%.
On the other hand, technology stocks continued to face selling pressure, with Nifty IT slipping 0.8%. Nifty FMCG shed 0.44%, whereas healthcare and pharmaceutical indices hovered marginally below the previous close.
Market participants drew encouragement from softer US bond yields and a firm trend across Asian equities, which mirrored overnight gains on Wall Street.
Crude oil prices also inched down after US President Donald Trump downplayed the chances of an extended standoff with Iran.
FCNR(B) Inflows Support Sentiment
The raising of $136 billion through a concessional swap window, of which $127 billion came via the FCNR(B) route, is expected to lend support to the rupee and shore up foreign investor confidence.
Institutional activity also stayed robust. The Nifty’s 141-point decline on Wednesday came even as institutional investors bought shares worth around Rs 9,500 crore, comprising Rs 6,688 crore from foreign institutional investors and Rs 2,812 crore from domestic players.
From a technical standpoint, a move past 24,150–24,215 could reinforce the Nifty’s recovery, while 23,860 is likely to serve as a key floor on any downside.
