Indian Equity Markets Open Higher Led by Positive Global Cues and Cooling Crude Prices
The Indian equity markets inched up slightly on Tuesday morning, tracking positive global cues and a correction in global crude prices. As of 9:20 AM, the Sensex added 64 points, or 0.10%, to reach 74,914, while the Nifty gained 34 points, or 0.15%, to trade at 23,449.Broad-market indices outperformed the front-line benchmarks. The Nifty Midcap 100 added 0.33%, and the Nifty Smallcap 100 advanced 0.40%.On the sectoral front on the NSE, most indices traded in the green. Nifty Realty emerged as the top gainer, rising 1%, followed by Chemicals, which added 0.64%. Conversely, Nifty IT was down 1.09%, and FMCG dipped 0.01%.Market analysts noted that with precious metals stabilizing and fixed-income returns becoming attractive, investors could consider adopting a multi-asset strategy. Macroeconomic comfort was further bolstered by WTI crude trading in the $92–$93 per barrel range alongside a stronger Indian Rupee.
Global Markets & Technical Levels Global risk sentiment improved significantly overnight. US equities posted strong gains—led by Nasdaq surging 2.26%, the S&P 500 up 1.49%, and the Dow Jones adding 0.71%. Asian markets followed suit, with Japan's Nikkei up 1.38%, South Korea's Kospi gaining 1.89%, and Hong Kong's Hang Seng advancing 0.41%.
From a technical standpoint:
Nifty 50: Having closed at 23,414 in the previous session (+0.29%), immediate support is placed at 23,250–23,300, while resistance lies at 23,550–23,600.
Bank Nifty: Having closed at 56,470 (+0.20%), immediate support is placed at 56,000–56,300, with resistance seen at 56,800–57,000.
Institutional Activity On September 21, Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹576 crore. In contrast, Domestic Institutional Investors (DIIs) provided strong support, net purchasing equities worth ₹2,800 crore.
