The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday amid mixed global cues.
At 08:32 IST, The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,474.50 level, a premium of nearly 168 points from the Nifty futures’ previous close.
The domestic benchmark indices, Nifty 50 and Sensex, demonstrated notable volatility in Wednesday’s session on November 27. While the rebound in Adani Group stocks was a positive development, it was somewhat tempered by the underperformance of key index heavyweights. This created a dynamic trading environment with significant fluctuations. Nevertheless, it is encouraging to see that the indices ultimately closed the day with healthy gains, reflecting resilience in the market.
“Indian indices continue to exhibit positive upside as a result of healthy consolidation and the likelihood of strong H2FY25 earnings forecasts. In Asia, market sentiment was mixed due to the potential tariff impositions by the US. Meanwhile, the Chinese market rebounded on expectations of additional stimulus measures. The global sentiment is positive as the US FOMC minutes and a truce in the Middle East were optimistic. Decelerating inflation and robust growth prospects could lead to continued rate cuts by the Federal Reserve,” said, Vinod Nair, Head of Research, Geojit Financial Services.
Asian shares had a quiet session on Thursday, with the MSCI index for Asia-Pacific shares outside Japan slipping 0.07%. Meanwhile, Japan’s Nikkei managed to gain 0.46%. The dollar faced pressure after recent US data indicated that progress in slowing inflation had stalled, even though the economy showed signs of resilience. This situation has led to uncertainty regarding the Federal Reserve’s potential actions in the upcoming year. Investors are closely monitoring these developments to gauge their impact on market trends moving forward.
