Sensex rises 515 points, Nifty at 23,925 as IT stocks lead early gains
Synopsis
Indian markets opened Friday with a 515-point Sensex surge, powered by IT stocks and resilient domestic data on GST, auto sales, and credit growth — even as global bond yields at multi-decade highs and elevated Brent crude near $97 kept the rally from running away. DIIs absorbed ₹4,977 crore in a single session, more than offsetting FII selling of ₹2,346 crore the day before.
Key Takeaways
BSE Sensex rose 515 points to 76,668 and Nifty50 gained 51 points to 23,925 in early trade on 4 September .
Nifty IT was the top sectoral gainer, up 0.65 per cent ; Nifty Consumer Durables was the biggest loser, down 0.50 per cent .
FIIs net sold ₹2,346 crore on 3 September ; DIIs countered with net purchases of ₹4,977 crore .
Brent crude near $96–97 and elevated global bond yields remain key headwinds for sentiment.
Nifty support at 23,800–23,850 ; resistance at 24,050–24,100 .
Indian equity benchmarks opened sharply higher on Friday, 4 September, with the BSE Sensex climbing 515 points, or 0.68 per cent, to 76,668 and the Nifty50 adding 51 points, or 0.22 per cent, to 23,925 in early trade. The rally was driven by strong gains in IT stocks and upbeat domestic economic data, even as elevated global bond yields cast a shadow over sentiment.
Sectoral Snapshot
Nifty IT was the top sectoral gainer, rising 0.65 per cent, followed by Nifty Realty, which added 0.50 per cent. On the losing side, Nifty Consumer Durables posted the steepest decline, down 0.50 per cent. Broader market indices tracked the benchmarks closely — the Nifty Midcap 100 edged up 0.03 per cent, while the Nifty Smallcap 100 gained 0.49 per cent.
Bond Yields and the Balancing Act
Analysts flagged rising global bond yields as a persistent headwind. The US 10-year yield continues to hover around 4.8 per cent, while Japan's 10-year yield has touched a 30-year high of 3 per cent. The UK's 30-year yield stands at 6 per cent, and India's own 10-year yield is close to 7 per cent. 'Rising bond yields are negative for equity markets,' a market analyst said, noting that these pressures are being offset by robust domestic indicators.
Notably, the domestic tailwinds appear strong enough to keep bulls in the driver's seat for now. 'Particularly impressive are the ongoing high-frequency data regarding GST collections, automobile sales, and credit growth,' the analyst added. This is a pattern seen through much of 2024 — domestic macro resilience cushioning India from global rate-driven sell-offs.
Global Cues and Commodity Watch
Overnight, Wall Street closed higher, with the Nasdaq gaining 1.4 per cent, the S&P 500 advancing 1.06 per cent, and the Dow Jones rising 1.18 per cent. Asian markets followed suit — Japan's Nikkei added 1.14 per cent, Hong Kong's Hang Seng climbed 2.09 per cent, South Korea's Kospi gained 1.31 per cent, and China's Shanghai index rose 0.35 per cent. 'Global sentiment has improved as Wall Street closed higher and Asian markets are largely positive, while US Treasury yields have eased,' an analyst said.
Brent crude remains elevated near $96–97 per barrel, keeping geopolitical risks tied to the US–Iran conflict a key factor for market sentiment going forward.
Institutional Flows
On 3 September, foreign institutional investors (FIIs) net sold equities worth ₹2,346 crore, while domestic institutional investors (DIIs) stepped in as buyers, purchasing equities worth ₹4,977 crore — underscoring continued domestic confidence even as foreign money remains cautious.
Key Technical Levels to Watch
For the Nifty50, immediate support is placed in the 23,800–23,850 zone, with resistance seen at 24,050–24,100. For Bank Nifty, support lies at 57,000–57,200, while resistance is pegged at 57,800–58,000, according to market participants. A sustained move above resistance levels could signal the next leg of the rally, while a breach of support may invite fresh selling pressure.
Point of View
Yet domestic money continues to absorb the supply without flinching — a structural shift from even two years ago when FII exits routinely triggered sharp corrections. The IT-led rally is partly a global rebound trade off Wall Street, but India's own macro data — GST collections, credit growth, auto sales — is doing the heavy lifting on valuations. The risk is Brent crude: at $96–97, a further spike could reignite inflation fears and complicate the RBI's rate path, which would quickly test how deep DII conviction really runs.
NationPress
4 Sept 2026
Frequently Asked Questions
Why did Sensex and Nifty rise on 4 September?
The Sensex gained 515 points and Nifty rose 51 points in early trade on 4 September, driven by strong performance in IT stocks and positive domestic economic indicators including GST collections, automobile sales, and credit growth. A rally on Wall Street overnight and gains across Asian markets also boosted sentiment.
Which sector led the gains on the NSE today?
Nifty IT was the top-performing sectoral index, rising 0.65 per cent. Nifty Realty was the second-best performer, adding 0.50 per cent, while Nifty Consumer Durables was the biggest drag, falling 0.50 per cent.
What were the FII and DII flows on 3 September?
Foreign institutional investors net sold equities worth ₹2,346 crore on 3 September, while domestic institutional investors countered with net purchases of ₹4,977 crore, providing a strong cushion against foreign selling pressure.
What are the key technical levels for Nifty and Bank Nifty?
For Nifty, immediate support is at the 23,800–23,850 zone and resistance is at 24,050–24,100. Bank Nifty has support at 57,000–57,200 and faces resistance at 57,800–58,000, according to market participants.
How are global bond yields affecting Indian markets?
Elevated global bond yields — with the US 10-year at around 4.8 per cent, Japan's at a 30-year high of 3 per cent, and India's own 10-year near 7 per cent — are a headwind for equities. However, analysts note that strong domestic economic data is currently offsetting these pressures.
