Gold and silver prices traded higher today, with gold rising 0.85% to Rs 1,53,697, while silver gained 1% to Rs 2,38,617. Both precious metals remained firmly in positive territory, tracking gains in the commodities market.

Gold: Rs 1,53,697 | +0.85%
Silver: Rs 2,38,617 | +1.00%.

Tech Mahindra fell 0.86% to Rs 1,608, making it the biggest decliner among the stocks tracked. HCL Technologies dropped 0.82%, while Bajaj Finance, IndusInd Bank and Maruti also remained under pressure.

IT stocks remained weak, with Infosys down 0.44% and TCS declining 0.39%. HCL Technologies fell 0.82%, while Tech Mahindra dropped 0.86%. ITC also traded 0.32% lower.

Adani Ports emerged as the top gainer among the stocks tracked, rising 1.31% to Rs 1,694.85. ICICI Bank gained 1.13% to Rs 1,444.10, while SBI climbed 1% to Rs 1,031. Axis Bank and Power Grid were also among the notable gainers, advancing 0.95% and 0.77%, respectively.

Banking stocks traded largely higher, with ICICI Bank up 1.13%, SBI 1%, Axis Bank 0.95% and HDFC Bank 0.71%. Kotak Mahindra Bank also gained 0.08%, while Bajaj Finance slipped 0.10%.

Indian equity benchmarks opened higher on Thursday, September 3, amid broad-based buying across banking, financial and metal stocks. The BSE Sensex rose 278.63 points, or 0.36%, to 76,848.98 in early trade, while the Nifty gained 83.50 points, or 0.35%, to trade at 23,997.95. The Nifty Bank outperformed the benchmark indices, rising 0.57% to 57,497.85, while the Nifty Financial Services index advanced 0.60%.

Oil prices edged lower on Thursday as investors weighed the uncertainty of renewed military strikes between the US and Iran that risk disrupting supplies from the Middle East. Brent crude futures fell 43 cents, or 0.45%, to $95.2 a barrel at 0029 GMT, while US West Texas Intermediate crude futures were down 24 cents, or 0.26%, at $90.77. The latest attacks were the most substantial exchange of fire between the US and Iran since July, with the war now in its seventh month.

The Indian rupee on Thursday opened substantially higher by 47 paise at 94.26 against the US dollar. This comes a day after the RBI’s statement saying a massive $127 billion mobilisation through foreign-currency non-resident bank deposits far exceeded market expectations, bolstering the central bank’s capacity to support the currency.

Asian markets were trading modestly higher in early trade, with Japan’s Nikkei 225 trading marginally in green and South Korea’s Kospi gaining nearly 1%. The mildly positive trend follows a firmer close on Wall Street overnight. However, elevated crude prices and lingering geopolitical uncertainty could limit gains in Indian equities.

The Nifty 50 opened on a positive note, with the 24,000 mark in focus. Analysts see 24,000-24,200 as the immediate resistance zone, while 23,800 remains a crucial support level.

Gift Nifty points to a mildly positive start for Indian equities on Thursday, as the index was trading at 24,154, up 149 points or 0.58 per cent, as of 8:55 am, signalling a mildly positive start for the domestic market.  The indication comes after the Sensex and Nifty 50 extended their losing streak to three sessions on Wednesday.