Mumbai, October 30: Indian equity benchmarks opened on a flat note on Friday, tracking cautious global sentiment and elevated crude oil prices, IANS reported. The Sensex opened at 74,199.69, up 48.65 points or 0.07 per cent from Thursday's close of 74,151.04, while the Nifty 50 opened at 22,964.50, up 27.75 points or 0.12 per cent from its previous close of 22,936.75.

Source: IANS — Sensex, Nifty open flat amid weak global cues; IT stocks buck trend

74,199.69Sensex opening level, up 48.65 points (0.07%)
22,964.50Nifty 50 opening level, up 27.75 points (0.12%)
95.22Rupee opening level against the US dollar, up 4 paise
+905Sensex points gained in Thursday's session

The early gains faded quickly in morning trade. By 9:20 am, the Sensex was trading at 74,164.21, up just 13.17 points or 0.02 per cent, and the Nifty was quoting at 22,941.70, up 4.95 points or 0.02 per cent, The Hindu BusinessLine reported, noting that domestic institutional buying provided a cushion against the global tech sell-off.

Source: The Hindu BusinessLine — Markets open flat amid tech sell-off, crude surge

IT stocks buck the trend

IT shares were the morning's bright spot, with the Nifty IT index jumping over 1 per cent while most other sectoral indices traded in the red, IANS reported. ANI's market wrap named Trent, Sun Pharma, Infosys, IndiGo, TCS, Tech Mahindra, NTPC, Power Grid, Eternal, HCL Tech, Kotak Bank, ITC and Adani Ports among the top gainers on the BSE, and The Hindu BusinessLine said Trent led the Nifty gainers.

Source: ANI via LatestLY — Sensex, Nifty open marginally higher amid rising crude prices

Analysts said crude remains the biggest headwind. Geojit Investments chief investment strategist V. K. Vijayakumar, quoted by IANS, said the crude oil headwind is getting stronger with Brent rising above $117 a barrel, while ANI reported Brent trading around $112 a barrel and US West Texas Intermediate around $103 in morning trade. Market experts cited by ANI placed the Nifty's immediate resistance at 23,000–23,100, with support at 22,800–22,850.

In the currency market, the Indian rupee opened marginally higher at 95.22 against the US dollar, compared with its previous close of 95.26, gaining 4 paise, CNBC-TV18 reported with Reuters inputs, adding that a retreat in the US dollar and lower US Treasury yields offered relief while rising crude limited the gains.

Source: CNBC-TV18 via TradingView — rupee opens marginally higher

Friday's flat open followed a strong Thursday, when the Sensex rallied 905 points to close at 74,151.04 and the Nifty ended at 22,936.75. Reliance Industries and Jio results were in focus for the rest of the session.