Indian equity indices opened higher on Friday after hitting record highs in the previous session, tracking positive cues from global markets amid hopes that the US Federal Reserve could pause rate hikes this month. The BSE Sensex was trading 304 points or 0.46% higher at 65,862, while Nifty50 was trading at 19,503, up 90 points or 0.46% at around 9.17 am.

From the Sensex pack, Infosys, Tech Mahindra, TCS, Wipro, HCL Tech, and Bajaj Finserv opened with gains, while Power Grid, M&M, NTPC, Asian Paints, Sun Pharma, and Bharti Airtel opened with cuts.

Among individual stocks, JBM Auto opened 18% higher after the company and its units won orders to supply 5,000 electric buses. Shares of RVNL also opened 3% higher after receiving a letter of award from the National Highways Authority of India worth 8.08 billion rupees.

On the sectoral front, Nifty IT surged 1% and Nifty Realty rose 1.1%. Banks, financial, auto, FMCG, metal, and consumer durables sectors also opened with gains. In the broader market, Nifty Midcap 100 advanced 0.46%, and Nifty Smallcap 100 gained 0.80%.

Experts suggest that the declining trend in inflation in the US and the resilience of the US economy are supporting global equity markets. Another important trend is the steady decline in the dollar, which is significant from the market perspective.

In global markets, Wall Street stocks rose for the fourth straight session on Thursday, with the S&P 500 reaching a fresh 15-month peak. Asian stocks also showed positive trends.

Foreign institutional investors bought Rs 2,238 crore worth of Indian equities on Thursday, while domestic investors sold Rs 1,197 crore of shares. Oil prices rose on tighter supply and easing US inflation. The Indian rupee rose against the US dollar.