Mumbai, Sep 15: Indian equity benchmarks opened higher on Tuesday despite global markets remaining under pressure amid elevated US bond yields and crude oil prices.

Sensex opened at 75,369.63, up 587.87 points or 0.79 per cent, while Nifty began trading at 23,576.15, higher by 178.05 points or 0.76 per cent. The gains were led by information technology stocks as Nifty IT index jumped more than 4 per cent, while the Nifty MidSmall IT & Telecom index rose nearly 2 per cent.

Other sectors, Nifty FMCG gained 0.72 per cent, while Nifty Auto rose 0.31 per cent. Media, energy and private banking indices were also marginally higher.

In contrast, Nifty Metal fell 0.58 per cent, while Nifty Financial Services Ex-Bank and Nifty MidSmall Financial Services declined 0.52 per cent and 0.5 per cent, respectively. Nifty Pharma fell 0.37 per cent, while cement, healthcare, consumer durables and realty indices also traded lower.

Among Nifty 50 stocks, Kotak Mahindra Bank, Grasim Industries, BEL, Shriram Finance and InterGlobe Aviation were top losers which declined between nearly 1 per cent and 1.67 per cent.

“Global equity markets will be under pressure from the US 10-year yield hitting the psychological 5 per cent mark. The macro scenario will continue to be under pressure from rising crude prices,” according to market experts.

The continuing boom in the initial public offering market and the outperformance of the broader market were also cited as positives for domestic equities, according to market experts.

On the Nifty’s technical outlook, the expert said the pullback from the 23,260-23,000 region suggested the index was attempting a swing higher after approaching oversold territory, they said.

“This mean reversion move could potentially aim for 23,720,” the experts said, while cautioning that failure to clear 23,515, or a direct fall below the 23,260-23,000 region, could bring the 22,600-21,800 range into focus.

New Delhi, Sep 14: The United Arab Emirates (UAE) and India are broadening a strategic and economic partnership that serves as “an effective model of cooperation within BRICS,” a new report has said.

The partnership is built on a foundation of historic ties, shared interests and major projects that promote trade, investment and logistics connectivity between markets, the report from Gulf Today said.

“The growing UAE-India partnership, reflected in expanding trade, increasingly integrated logistics corridors and cooperation in investment and innovation, provides a practical model of the UAE’s role within BRICS,” the report said.

Further, the partnership also proves UAE’s commitment to exchanging expertise and perspectives and building more integrated and sustainable economic partnerships.

Bilateral trade reached $101.25 billion in FY26, marking the second consecutive year in which trade between the two countries exceeded $100 billion. The UAE and India have set a target to raise bilateral trade to $200 billion by 2032.

The partnership is being advanced through initiatives such as Bharat Mart, the Virtual Trade Corridor and cooperation under the India‑Middle East‑Europe Economic Corridor (IMEC).

“These initiatives are helping strengthen supply chain integration and create new routes for trade and investment flows between the two countries and global markets,” the report noted.

The UAE-India Comprehensive Economic Partnership Agreement (CEPA), operational since 2022 was hailed as the first agreement of its kind concluded by the UAE. The agreement has bolstered the flow of goods, services and investment and expanded opportunities for the private sector in both countries.

United Arab Emirates and China were the largest destinations within BRICS, together accounting for 88.50 per cent of India’s electronics exports to the grouping.

The number of Indian companies registered as active members of Dubai Chamber reached 85,841 by the end of June 2026 after 7,579 new Indian firms joined in the first half of the year, marking a year‑on‑year increase of 15 per cent, another report said.

Mumbai, Sep 14: The Nifty could climb to 26,200 by December 2026, implying an upside of around 12 per cent from current levels, as Bank of America (BofA) Securities has turned constructive on Indian equities after maintaining a cautious stance for nearly two years.

In its latest strategy report, BofA said it had remained cautious on Indian stocks since August 2024 and had identified eight key risks that could keep the market volatile. However, five of those risks have either already played out or have been largely priced into the market, prompting the brokerage to adopt a more positive stance.

BofA said the three remaining risks could create around 7 per cent downside for the Nifty 50 in its bear-case scenario. In its base case, however, the brokerage sees the index reaching 26,200 by December 2026.

According to BofA, the remaining risks are expected to peak by October 2026, potentially creating room for a sustained market recovery from November.

One of the key risks identified earlier was a sharp rise in crude oil prices above $100 a barrel, compared with BofA’s fourth-quarter 2026 estimate of $81 a barrel. The brokerage noted that crude prices have reversed from the $100-a-barrel level seven times over the past seven months.

The rupee was another concern, although BofA said recent inflows of around $136 billion should provide support to the currency and maintained an appreciation bias.

Weak monsoon conditions were also among the risks, with the current rainfall deficit at 13 per cent, close to the 15 per cent worst-case scenario previously projected by the brokerage.

BofA also expects limited further acceleration in aluminium and copper prices. On monetary policy, its economist expects the Reserve Bank of India to raise the policy rate by 25 basis points by December 2026, compared with around 45 basis points currently priced by swap markets.

The three remaining risks include a possible surge in primary market issuances, with around $30 billion expected between September and December and issuance activity likely to peak in October. Another risk is the possibility of 75 basis points of Federal Reserve rate hikes, compared with around 35 basis points currently priced by markets. Over the longer term, BofA also flagged the potential impact of artificial intelligence-led disruption on employment in India.