Nifty 50 Opens Higher—Momentum Builds as Markets Eye 25,600!

Image Source: Bigtvlive English

India’s Nifty 50 index opened 0.37% higher on June 10, extending its foursession winning streak and signaling strong investor confidence. The index’s gapup opening follows positive global cues, robust domestic liquidity, and bullish sentiment in banking and IT stocks.

Key Highlights:

Nifty’s Breakout: The index surged past 25,100, holding firm above its 50day moving average, with analysts predicting a potential rally toward 25,600.
Banking & Financials: Nifty Bank hit a record high, crossing 57,000 for the first time.
Midcap & Smallcap Surge: Nifty Midcap 100 gained 1.13%, while Nifty Smallcap 100 jumped 1.57%, outperforming the benchmark.
IT & Oil & Gas: Strong buying interest lifted stocks in these sectors, driving market optimism.
RBI’s Policy Boost: The central bank’s repo rate cut and CRR reduction fueled gains in NBFCs and gold financiers, with stocks rising 48%.
Global Influence: Asian markets opened higher, tracking USChina trade talks, while Wall Street’s subdued close kept investors cautious.

With strong domestic cues and technical resilience, Nifty 50’s upward momentum suggests continued bullish sentiment, with traders eyeing key resistance levels in the coming sessions.

Sources: CNBC TV18, Moneycontrol, Fortune India.