Markets Today: Sensex Gains 157 Points, Nifty Holds Above 23,300; Midcaps, Smallcaps Lead

Indian equity markets opened in positive territory on Friday, September 18, supported by gains in Asian stocks and a recovery on Wall Street in the previous session.

A decline in crude oil prices also provided some relief to investors, although geopolitical tensions continued to remain a concern. The BSE Sensex gained 156.98 points, or 0.21%, to trade at 74,471.57 shortly after the opening bell. The NSE Nifty 50 advanced 35.80 points, or 0.15%, to 23,306.40.

Broader market indices performed better than the headline benchmarks. The Nifty Midcap 100 climbed 0.51%, while the Nifty Smallcap 100 rose 0.81%. The Nifty Next 50 was also up 0.60%.

REALTY, PHARMA LEAD SECTORAL GAINS

Most sectoral indices began the session in positive territory.

The Nifty Realty index gained 1.07%, making it the top-performing sector in early trade. Nifty Pharma advanced 0.82%, while Nifty Healthcare rose 0.75%. Nifty Metal and Nifty Auto gained 0.51% and 0.45%, respectively.

Banking stocks also opened higher, with the Nifty Bank index up 0.23% and the Nifty Private Bank index gaining 0.32%.

IT stocks, however, remained under pressure. The Nifty IT index fell 1.81%, while the Nifty MidSmall IT & Telecom index declined 0.63%. The Nifty FMCG index remained largely unchanged.

ASIAN MARKETS TRADE HIGHER

Indian equities took cues from a stronger trend across Asian markets following an overnight recovery on Wall Street, where technology stocks led the rebound.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.55%. Japan’s Nikkei advanced around 0.9%, while South Korea’s KOSPI gained 2%.

US bond yields also eased from recent highs. The 10-year US Treasury yield stood at 4.936% after briefly moving above the 5% level earlier in the week.

Ponmudi R, CEO of Enrich Money, said Indian equities were positioned for a steady start, supported by softer crude prices and a modest decline in US Treasury yields.

He also pointed to strength in Asian markets and firm GIFT Nifty futures as additional supportive factors for domestic stocks. GIFT Nifty futures were trading around 23,343, compared with the Nifty 50’s previous close of 23,270.

BANK OF JAPAN RAISES INTEREST RATES

The Bank of Japan also remained in focus after raising its benchmark interest rate by 25 basis points. The move takes Japanese borrowing costs to their highest level in more than three decades.

The rate decision came as investors continued to monitor monetary policy developments across major economies for their potential impact on global markets.

CRUDE PRICES REMAIN A KEY MARKET FACTOR

Crude oil prices continued to be an important factor for investors, particularly amid ongoing geopolitical tensions in the Middle East.

Brent crude futures declined by around 1% to approximately $103.77 per barrel. Expectations that alternative routes could help maintain Middle Eastern oil supplies eased some concerns over potential disruptions.

Despite the decline, crude remained close to the $100-per-barrel threshold, keeping energy prices and geopolitical developments firmly on investors’ radar.