Indian shares set to open higher on strong China data, U.S. rate pause hopes
![](https://portfolio.investmentguruindia.com/uploads/news/7680af2badc08d926df3774a2dd9f740.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Indian shares are set to open higher on Friday, tracking Asian peers, as stronger-than-expected macroeconomic data from China and easing U.S. rate concerns aided sentiment.
India's GIFT Nifty on the NSE International Exchange was up 0.10% at 20,238.50 at 8:00 a.m. IST.
Asian equities rose on Friday after data showed that August industrial output and retail sales growth in China beat expectations.
Wall Street equities closed higher overnight, on rising expectations of a U.S. Federal Reserve rate pause in its upcoming policy meeting on September 20. [MKTS/GLOB]
India's Nifty 50 and Sensex have gained nearly 1.5% each this week so far and hit new record highs in the previous session. Both the benchmarks are on course to extend gains for the third consecutive week.
The more-domestically focussed small- and mid-caps have witnessed high volatility, logging gains for two sessions in a row after posting their worst session in 2023 on Tuesday.
While the outlook for Indian markets remained positive on the back of strong macroeconomic data, there is no scope for a runaway rally in the benchmarks due to elevated valuations, said analysts. They also cautioned of a likely correction in the broader markets after the recent rally.
Small- and mid-caps have gained 31% and 29% in 2023 so far, outperforming the 11% rise in the Nifty 50 and Sensex.
Brent crude futures rose to a 10-month high of $94.16 per barrel on supply cuts and China's measures to boost demand.
Rising crude oil prices hurt India, where the commodity accounts for a significant share of the import bill. [O/R]
Foreign institutional investors bought 2.95 billion rupees ($35.53 million) worth of shares on a net basis on Thursday, while their domestic counterparts sold 508 million rupees worth of shares, exchange data showed.
STOCKS TO WATCH:
** NTPC: State-owned power producer signs supplementary joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam to develop two thermal projects int he state.
** Alkem Laboratories: Drug maker says income tax department conducted a survey at the company's offices, subsidiaries.
** Bharat Forge: Co and its unit Kalyani Strategic Systems sign a deal to produce armoured vehicles in India for clients of global defence company Paramount.
** Lemon Tree Hotels: Co signs license agreement for two new properties in Gujarat and Nepal.
![](https://portfolio.investmentguruindia.com/uploads/news/karnal22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Economy.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_Singapur.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/fdi22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_Bali.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GV_NewZeeland.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bank2.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Daily Market Analysis : The markets began the week on a subdued note and ended nearly unchan...
![Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
![Mid-Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
![Nifty closed below its 5-day moving average support line for the first time in the last 30 trading sessions - Tradebulls Securities Pvt Ltd](https://portfolio.investmentguruindia.com/uploads/news/Tradebull Securities.jpg)