Nifty Rises, Sensex Soars At Pre-Open Signalling Positive Start For Benchmarks

Mumbai, September 18: Indian shares rose at pre open signalling a higher start for benchmarks as global shares advanced as oil and yields eased. 

Nifty 50 rose 0.5% and Sensex advanced 0.9% at pre open.  

Tata group companies are likely to attract investor attention after Tata Sons’ board approved another five-year term for chairman N. Chandrasekaran. The holding company also said it would evaluate a potential public listing, while the Shapoorji Pallonji Group has proposed selling a portion of its stake in Tata Sons.  

The developments come as India’s primary market remains active, with five IPOs currently open for subscription. The National Stock Exchange of India’s much-anticipated offering was subscribed 0.43 times on the first day of bidding. 

Market participants said the heavy IPO pipeline could absorb part of the liquidity available to equities. 

The Nifty and Sensex have declined 0.5% and 0.6%, respectively, so far this week and are headed for their sixth consecutive weekly fall. 

Foreign institutional investors have also remained a drag on sentiment, extending their selling streak to seven straight sessions. FIIs sold shares worth Rs 3,209 crore on Thursday, according to provisional NSE data. 

Domestic institutional investors, however, continued to provide a counterweight, purchasing equities worth Rs 3,618 crore during the session.  

Bharat Electronics, a defence electronics company, said it has secured fresh orders worth Rs 648 crore since August 26, adding to its order book amid continued government spending on defence equipment.  

GPT Infraprojects, an infrastructure company, has won a new order valued at Rs 484 crore, providing a fresh addition to its project pipeline.  

PTC India and NLC India Renewables have set up a joint venture, Nirl PTC Renewables. PTC India will hold a 25% stake in the newly incorporated entity.  

The markets regulator has barred telecom infrastructure company Kore Digital from raising funds from the public and stopped its proposed migration to the main board of the stock exchange. The action follows allegations by the regulator of financial irregularities. 

Asian Markets 

Asian equities advanced on Friday as investors assessed recent central bank decisions and took some comfort from a pullback in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9%, while Japan’s Nikkei gained 0.8% ahead of the Bank of Japan’s policy decision, with markets expecting another rate increase. South Korea’s Kospi climbed 2.15%. 

The retreat in crude prices offered some relief to risk sentiment after oil had stayed above $100 a barrel for much of the week amid the prolonged Middle East conflict. Investors, however, remained watchful of inflationary pressures and the prospect of tighter monetary policy globally. 

Wall Street 

US stocks rebounded sharply on Thursday, with all three major indexes ending higher. Technology stocks led the recovery, helping the Nasdaq outperform, while the S&P 500 and Dow Jones Industrial Average also advanced. 

The gains came a day after US equities fell following the Federal Reserve’s decision to raise its benchmark interest rate by 25 basis points to 3.75%-4%. The hike was the Fed’s first since 2023 and came with a hawkish outlook, with 16 of 18 policymakers projecting at least one more rate increase by the end of 2026. 

Stocks nevertheless found support from easing Treasury yields and lower crude prices. Investors also appeared to view the Fed’s move as removing some uncertainty that had weighed on markets ahead of the decision. 

Oil Prices 

Crude remained a key driver for global markets. Brent crude fell about 1% to $104.80 a barrel on Thursday after Saudi Arabia offered additional crude cargoes through Oman, helping ease some concerns over supply disruptions. 

Geopolitical risks, however, remain elevated, with the Middle East conflict continuing to threaten energy supplies. Oil prices above $100 a barrel, coupled with a stronger dollar, remain a concern for import-dependent economies such as India. 

Source

• Exchanges