Mumbai, Aug 21: Indian equity markets opened higher on Friday for the second consecutive session, supported by gains in realty, metal and pharmaceutical stocks.
The Sensex opened 163.35 points, or 0.21 per cent, higher at 77,701.07, while the Nifty 50 gained 52.20 points, or 0.22 per cent, to open at 24,284.05.
The Nifty Realty index was the top gainer in early trade, rising 0.70 per cent. Nifty Metal gained 0.48 per cent and Nifty Pharma rose 0.32 per cent.
However, Nifty IT declined 0.60 per cent and emerged as the biggest sectoral laggard. Nifty Auto also fell 0.19 per cent.
Market experts said the recovery could face some pressure due to rising crude oil prices and higher US bond yields. Brent crude was trading close to $94 per barrel, raising concerns about inflation and market volatility.
Analysts said the broader market could continue to receive support from institutional buying and improving fundamentals. NBFCs, pharmaceutical companies, digital platforms and CDMO stocks remained areas of investor interest.
Technically, the Nifty has support around 24,060–24,000. If the index sustains above this zone, it could move towards 24,317–24,380, followed by 24,400–24,545.
Asian markets traded lower after weakness on Wall Street, while higher US Treasury yields and elevated crude prices remained key concerns for global investors.
Overall, Indian markets are expected to remain rangebound in the near term, with investors closely watching crude oil prices, global bond yields and institutional flows.