(Photo : NSE)

India's equity benchmark indices, BSE Sensex and Nifty 50, opened lower on Friday after nearing record highs in pre-market trading. This dip follows a slightly higher-than-expected inflation rate and robust Index of Industrial Production (IIP) data.

At 10 AM, the BSE Sensex was trading at 82,833.26, down 139.01 points or 0.17%, but showing signs of recovery. Meanwhile, the Nifty 50 experienced early volatility and was at 25,337.30, shedding 50.65 points or 0.20%. Top gainers included TATA Steel(1.53%), Wipro(1.25%) and JSW Steel (1.24%) while Asian Paints lost 1.44%.Market breadth remained positive, with 2,396 stocks traded.

Of these, 1,681 advanced, 655 declined, and the remainder remained unchanged. Analysts expect the market to maintain upward momentum, buoyed by institutional buying, despite inflation concerns.Investors are closely watching India's inflation figures, released late Thursday.

The consumer price index (CPI) rose 3.65% in August, up from 3.6% in July, surpassing economists' expectations of a 3.5% rise, according to a Reuters poll. On the industrial front, the IIP for July increased to 4.83%, slightly higher than June's 4.72%.Global Markets:  In the broader Asia-Pacific region, markets remained mixed on Friday morning.

Japan's Nikkei 305.89 fell 0.83% on the back of a stronger Yen, while South Korea's Kospi remained flat. Hong Kong's Hang Seng Index futures were at 17,408 rising  by 0.97% while S&P/ASX 200 rose by 0.22% to trade at  8093.20. Overnight, US stocks closed higher after a day of mixed trading.

S&P 500 and Nasdaq Composite extended their gains for the fourth consecutive session, driven by tech giants Nvidia (NVDA), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META), and Broadcom (AVGO). 

The Producer Price Index (PPI) for August indicated a slight slowdown in inflation, with wholesale prices rising 0.2% month-on-month, marginally above expectations. However, the annualized rate of 1.7% aligned with forecasts, as July's reading was revised lower.

The S&P 500 and Nasdaq Composite gained 0.8% and 1%, respectively, while the Dow Jones Industrial Average added 0.6%. After last week's steep losses, the major indices are on track to post weekly gains.

Oil and Gold Surge Oil prices edged higher on Friday, driven by supply disruptions in the U.S. Gulf of Mexico caused by Hurricane Francine. Brent crude futures rose by 34 cents, or 0.5%, to $72.31 per barrel, while WTI crude futures also advanced.