The Indian stock market is set to open higher on Thursday, following a strong global rally that lifted investor sentiment. Benchmark indices Sensex and Nifty 50 are trading near their all-time highs, driven by sustained buying interest in banking and large-cap stocks.
Positive Cues from GIFT Nifty
The offshore market, represented by GIFT Nifty, is trading around 26,447, showing a premium of 66 points from Nifty futures’ previous close. This indicates a strong positive opening for domestic indices, reflecting optimism among traders.
Sensex Nears Record Territory
On Wednesday, the Sensex surged 1,022.50 points (1.21%) to close at 85,609.51, signaling robust buying momentum. Analysts highlight support levels at 85,000–85,300, while resistance is seen around 86,000–86,200. A sustained rally above these zones could pave the way for fresh highs.
Nifty 50 Surges with Bullish Momentum
Nifty 50 mirrored this bullish trend, ending 320.50 points (1.24%) higher at 26,205.30. Market experts note that the index formed a long bullish candle, suggesting a continuation of the upward trend. Key resistance is identified near 26,270–26,300, with a potential upside toward 26,500 and beyond. Support zones now hover around 26,050–26,000, making any dip a possible buying opportunity.
Bank Nifty Inches Closer to Milestone
Bank Nifty also rallied strongly, gaining 707.75 points (1.20%) to close at 59,528.05. Holding above 59,400, the index could test the 60,000 mark soon. Traders are advised to follow a buy-on-dips strategy, with support levels between 59,000–58,841.
Market Outlook
Overall, the market sentiment is cautiously optimistic. Sustained momentum above key levels in Sensex and Nifty could trigger fresh record highs, while profit-booking at resistance zones may cause short-term pauses. Investors are keeping a close eye on global cues and domestic trends to gauge the next leg of the rally.
