India’s benchmark Nifty 50 index kicked off Thursday’s trading session on a positive note, rising 0.29% in early trade. The upbeat start follows two consecutive sessions of declines and reflects renewed investor optimism driven by robust global and domestic signals.
Positive Market Opening
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Nifty 50 opened up by 0.29%, reversing the prior day’s losses and signaling renewed buying interest.
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The Sensex also mirrored this positive momentum, tracking gains across Asian markets.
Global Sentiment Boost
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Strong cues from global equities, especially after a US court blocked Trump-era tariffs, lifted investor confidence.
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Upbeat earnings from US tech giant Nvidia and gains in Asian indices like Japan’s Nikkei and South Korea’s Kospi further supported sentiment.
Domestic Factors in Focus
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Sustained buying by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) continues to underpin the market’s strength.
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Recent industrial output data showed a 2.7% year-on-year growth in April, providing a modest but stable economic backdrop.
Sectoral Performance
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Early trade saw strength in banking and financial services stocks, while FMCG and metals remained subdued.
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Broader markets outperformed, with midcap and smallcap indices posting modest gains.
Technical Outlook
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Analysts identify key support for Nifty at 24,570 and resistance at 25,000–25,100.
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A sustained move above 25,000 could trigger further buying, while caution is advised amid range-bound trading.
Market Watch
Investors are closely monitoring Q4 earnings, F&O expiry, and upcoming macroeconomic data for further direction.
Source: NDTV Profit