India Stocks: Indian shares open higher, led by financials; higher oil prices cap upside

ExlService Holdings

03/09/2026 05:01

Updates for markets open
Sept 3 (Reuters) - Indian shares rose at the open on Thursday after three sessions of losses, led by gains in financials, although elevated oil prices and escalating Middle East tensions kept a lid on the upside.
The Nifty 50 .NSEI was up 0.25% at 23,975.65 and the BSE Sensex .BSESN added 0.25% to 76,757.5 as of 9:24 a.m. IST. 
They benchmarks have each fallen about 1% over the past three sessions, pressured by climbing crude prices and rising global bond yields as investors reassessed the prospect of interest rates staying higher for longer.
Nine of the 16 major sectors advanced at the open. Banks .NSEBANK, financials .NIFTYFIN private lenders .NIFPVTBNK and state-owned banks .NIFTYPSU climbed about 1% each after banks mobilized more than $60 billion in deposits from non-resident Indians during the final 10 days of the RBI's swap scheme, taking total inflows to $136 billion.
This exceeds the upper-end estimate of $100 billion, boosting liquidity ahead of the festive season and potentially helping keep interest rates lower, Jefferies said, adding that improved liquidity should also support NBFCs and smaller private banks.
Small .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.9% and 0.2%.


 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))