FIRST TRADE: Indices trade higher tracking recovery in Asian markets; Nifty reclaims 25,000 levels

Indian equities tracking recovery in Asian markets started on a firm note. At the open, Sensex traded higher by 0.2 per cent or 164.58 points at 81,724.12, while the Nifty traded near 25,000 levels up 0.25 per cent or 62.65 points.

Sectorally, there was broad-based buying seen, with pharma and realty stocks most resilient with gains of up to 1 per cent.

Ahead of the September 18th Fed meeting, traders will closely monitor two inflation reports, including the US CPI for August and producer price data. Meanwhile, the Bajaj Housing Finance IPO has seen strong initial demand, noted Prashanth Tapse, Senior VP (Research), Mehta Equities.

Meanwhile, most Asian markets traded strong tracking recovery in the US markets in overnight trade as focus shifted to the inflation data which will offer cues on interest rate cuts. Last, the MSCI Asia Pacific Index ex-Japan traded weak by over 1 per cent.