Mumbai, Sep 10: The Indian benchmark indices opened higher on Wednesday, on the back of promising developments in the US-India trade discussions along with strong overnight global cues.

US President Donald Trump’s initiative to improve India-US relations and Prime Minister Narendra Modi’s positive response to the same is a positive cue for the Indian market.

The Sensex was up 334 points or 0.41 per cent at 81,435 in the early morning trade, and the Nifty was up 106 points or 0.43 per cent at 24,975.

The broadcap indices made strong gains, as Nifty Midcap 100 inched up by 0.73 per cent, and the Nifty Small cap 100 moved up 0.71 per cent.

In the Nifty pack, Larsen and Toubro, Kotak Mahindra, Dr Reddys Labs and TCS were the major gainers. The major losers were Hero Motocorp, Maruti Suzuki, Tata Steel and Hindalco.

Among sectoral indices, Nifty IT, the top gainer, jumped 1.88 per cent. Nifty PSU bank and Nifty Realty were the other major gainers. Only Nifty Auto (down 0.33 per cent) and Nifty Consumer durables were in the red.

Nifty on Tuesday faced resistance near the 24,900 level for the second consecutive session. The index formed a small green candle with a long lower shadow on the daily chart, reflecting ongoing consolidation and intraday volatility.

“Nifty continued its upward journey yesterday, rising for the fifth consecutive session and closing at a two-week high. By closing above 24791, Nifty managed to reclaim its level above 50 DEMA. The index has now decisively surpassed its 5, 10, 20, and 50-day DMAs, which is a bullish signal on short-term charts,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

According to market analysts, buying interest is visible at lower levels, and the 24,900–25,000 zone continues to act as a stiff hurdle. Immediate support is placed at 24,620, and as long as the index trades below 25,000, some consolidation or mild weakness may persist, they said.

US markets made strong gains overnight as the Dow Jones Industrial Average inched up 0.43 per cent, while the Nasdaq advanced by 0.37 per cent and the S&P 500 gained 0.27 per cent. The rally was driven by expectations for Federal Reserve rate cuts following a sharp downward revision to US job data.

The Asian markets were firmly in green during the morning session. China’s Shanghai index advanced 0.17 per cent, and Shenzhen added 0.24 per cent. Japan’s Nikkei was up 0.6 per cent, while Hong Kong’s Hang Seng Index added 0.98 per cent. South Korea’s Kospi inched up 1.55 per cent.

On Tuesday, foreign Institutional Investors (FIIs) snapped their 11-day selling streak by purchasing equities worth Rs 2,050 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 83 crore.

New Delhi, Sep 9: A three-member bench of the Securities Appellate Tribunal (SAT) was set to begin hearing on Tuesday in a case between US trading company Jane Street Group LLC and capital markets regulator, the Securities and Exchange Board of India (SEBI).

The New York-based firm has challenged SEBI’s July interim order that accused it of manipulative trading in India’s equity derivatives market.

Jane Street argued that the regulator denied it access to crucial documents, including correspondence with whistleblower Mayank Bansal and the National Stock Exchange (NSE). It has asked the tribunal to halt further regulatory action until the appeal is resolved.

Jane Street maintained that both SEBI and the NSE previously reviewed its trades and found no evidence of manipulation. SEBI, however, could argue that those reviews are independent of its decision to open a fresh probe.

Jane Street has been barred by the SEBI from the Indian stock market for indulging in manipulative trading practices that allegedly enabled the company to make unlawful profits.

In an interim order, the SEBI alleged that global trading firm Jane Street was deliberately manipulating the index through a series of trades that it said lacked “plausible economic rationale.”

SEBI called it a case of “intra-day index manipulation,” flagging what it described as aggressive, unhedged positions in Nifty Bank options and other instruments.

India has become the world’s largest derivatives market by contracts traded, drawing Wall Street players such as Jump Trading, Citadel Securities and IMC Trading.

A SEBI study had earlier showed that retail investors lost $12 billion in futures and options trading during FY25, largely to sophisticated proprietary trading firms.

Jane Street is a proprietary trading firm, which means it trades with its own capital rather than managing client funds. The firm allegedly made a staggering Rs 32,681 crore in profits by manipulating the Indian stock market and repatriating the amount overseas.

Mumbai, Sep 9: The Indian benchmark indices opened higher on Tuesday, with Nifty IT index leading the rally with 1.7 per cent surge in the early trade.

At 9.23 am, Sensex was up 355 points or 0.44 per cent, at 81,142 and Nifty was up 99 points or 0.40 per cent, at 24,873.

The broadcap indices stayed flat, as Nifty Midcap 100 inched up by 0.05 per cent, and the Nifty Small cap 100 dipped 0.01 per cent.

Nifty IT advanced on the back of strong gains by Infosys (up 3.35 per cent) as the company had announced that it will consider a buyback of shares along with its results next month. IT company Wipro also advanced 2.36 per cent.

Tech Mahindra, TCS, Bajaj Finserv were other major gainers in the Nifty pack. Major losers were Titan Company, Shriram Finance, ICICI Bank, Tata Consumer and Tata Motors.

Among sectoral indices, apart from Nifty IT, the top gainer, Nifty pharma (up 0.47 per cent) and Nifty Auto (up 0.21 per cent) were in green. Many other indices made marginal losses.

Analysts said that Nifty index had formed a small red candle with a long upper shadow on the daily chart, highlighting consolidation and volatility.

“While buying interest is visible at lower levels, the 24,900–25,000 zones remains a stiff hurdle. Support is placed at 24,620, and as long as Nifty trades below 25,000, some consolidation or mild weakness may persist,” they noted.

“Upside momentum vanished on test of 24,870, which we had pencilled in as a critical pivot yesterday. Though the turn lower thereof was abrupt and steep, oscillators remain accommodative towards further upsides. We will look for a close beyond the 24,730-870 for further clarity,” said Anand James, Chief Market Strategist, Geojit Investments Limited.

The US markets ended in the green zone overnight as the Dow Jones Industrial Average inched up 0.25 per cent, while the Nasdaq advanced by 0.45 per cent and the S&P 500 gained 0.21 per cent.

In the US, investors are now awaiting two key inflation reports that could determine what Federal Reserve policymakers will do at their meeting next week.

The Asian markets traded mixed in the morning session. China’s Shanghai index declined 0.35 per cent, and Shenzhen lost 1 per cent. Japan’s Nikkei was up 0.2 per cent, while Hong Kong’s Hang Seng Index added 0.82 per cent. South Korea’s Kospi inched up 1.06 per cent.

On Friday, foreign investors (FIIs/FPIs) turned net sellers with outflows worth Rs 2,170 crore of Indian equities, while domestic institutional investors (DIIs) net bought shares worth Rs 3,014 crore.