Stock Market Opening: Sensex Jumps 264 Points, Nifty Tops 23,450; IT Shares Lead Gains

Indian stock markets opened higher on Tuesday, September 15, with IT shares leading the gains. However, rising crude oil prices and continuing geopolitical tensions in West Asia kept investors cautious and limited broader market momentum.

At 9:24 am, the Sensex was up 263.67 points, or 0.35%, at 75,045.43. The Nifty50 gained 83 points to 23,486.45.

IT Stocks Take Centre Stage

IT stocks were the biggest contributors to the early market rally. HCL Technologies emerged as the top Sensex performer, gaining 6.12%. Infosys rose 5.49%, Tech Mahindra advanced 5.30% and TCS climbed 4.98%. HDFC Bank and Hindustan Unilever also traded with gains.

The Nifty IT index jumped nearly 5% in early trading, while the broader IT and telecom index gained 1.83%. Strong buying in technology stocks provided significant support to the benchmark indices.

The IT rally comes as global investors continue to assess the outlook for technology spending and the growing impact of artificial intelligence. While expectations around AI-driven growth remain positive, concerns over the pace of AI development and its potential risks have added uncertainty to the sector.

Crude Prices Keep Investors On Edge

High oil prices remained one of the biggest concerns for Indian equities. WTI crude was trading around $102.68 a barrel, while Brent crude stood near $106.96.

Oil prices have remained elevated amid renewed tensions in West Asia. A fresh attack by Yemen’s Iran-aligned Houthis on Saudi Arabia and the postponement of planned talks between Gulf Arab states and Iran have heightened concerns over possible disruptions to energy infrastructure and shipping routes.

For India, which relies heavily on imported crude oil, a prolonged rise in oil prices could have a wider economic impact. Higher energy costs can fuel inflation, increase the trade deficit, put pressure on the rupee and weigh on corporate profit margins.

Global Markets Remain Cautious

Asian markets presented a mixed picture on Tuesday as investors tracked developments in West Asia, oil prices and the global interest-rate outlook.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.12%, while South Korea’s KOSPI declined 0.25%. Japan’s Nikkei, meanwhile, traded slightly higher.

Attention is also focused on upcoming monetary policy decisions. The US Federal Open Market Committee begins its two-day meeting on Tuesday, while the Bank of Japan is expected to announce its policy decision later this week.

Adding to investor caution, the US 10-year Treasury yield briefly touched 5%, its highest level since 2023. Rising yields have renewed concerns about inflation and the possibility of tighter monetary conditions for longer.

Market Breadth Stays Weak

Despite the gains in the Sensex and Nifty, the broader market remained under pressure in early trading.

BEL was among the biggest decliners, falling 2.16%. NTPC, Larsen & Toubro, Mahindra & Mahindra, Kotak Mahindra Bank, Bajaj Finserv, Titan, IndiGo and Reliance Industries were also trading lower.

The early session therefore presented a mixed picture: strong gains in IT stocks lifted the headline indices, while weak market breadth, expensive crude oil, geopolitical uncertainty and rising global bond yields continued to weigh on investor sentiment.