Indian Markets Edge Higher in Opening: Nifty 50 and Bank Futures Show Modest Gains

Market Opening Snapshot

Benchmark indices started the session positively, with Nifty 50 futures rising 167.7 points to 25,979.1 and Sensex hovering near 84,675 after a flat close yesterday. GIFT Nifty signaled a flat-to-positive bias at 26,127, up 0.09%, amid thin volumes on New Year's Eve. Bank Nifty futures gained 119.2 points to 58,490, reflecting banking sector steadiness.

Key Highlights

• Nifty 50 Performance: Futures up 0.65% at 25,979.1; spot closed at 25,938.85 yesterday, down 0.01% on expiry volatility.
• Banking Strength: Bank Nifty futures +0.20% to 58,490; support at 58,500 with resistance near 59,000.
• Broader Trends: Midcap indices mixed; auto and metals gained previously, while IT lagged; Asian markets closed for holidays.
• ​Trading Outlook: Bulls eye 26,100 breakout; key support at 25,837 (50-DEMA); low volumes expected on last day.

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Sources: Moneycontrol, NSE India, ICICI Direct, Business Standard