FIRST TRADE: Indices open higher; Sensex up 133 points, Nifty at 24,497

Indian equities on the expiry day opened higher . At the start, Nifty was up by a tad 0.12 per cent or 29.7 points at 24,497.15, while the BSE 30-share index Sensex gained 133.09 points or 0.16 per cent to 81,089.42 

The Dow Jones closed above 45,000 for the first time, with the S&P 500 and Nasdaq also hitting record highs, buoyed by Fed Chairman Jerome Powell's remarks on the US economy’s strength and a cautious approach to rate cuts.

Sectorally, media, pharma and realty faced slight selling pressure, while all other indices traded with gains.

FIIs were net buyers in Indian markets, purchasing ₹1,798 crores.

Prashanth Tapse, Senior VP (Research), Mehta Equities said, "Nifty could rise further if FIIs continue their buying spree, with bullish sentiment driven by hopes for a dovish RBI policy. Key drivers include the RBI's policy decision on Friday and the US non-farm payroll report." 

Technicals

Akshay Chinchalkar, Head of Research, Axis Securities said, "The Nifty rose for the fourth straight day yesterday, a streak that was last witnessed a day before the September 27 record peak. The daily candle has traced a spinning top, which means the market is looking for new cues on what next, tactically speaking."

In a shot-in-the-arm for bulls, a key Ichimoku signal has turned positive, and with 24550 breaking during yesterday's session, the onus is now on the market to hold short-term support in the 24240 - 24300 area and make a dash toward 24800. Below 24240, this view will have to be relooked at, he added.

Asian markets

Most Asian markets traded mixed taking into view Fed Powell's comments. At the last count, the key MSCI Asia ex Japan index traded lower by 0.17 per cent.