Indian stock markets kicked off Thursday on high note,helped by crude prices nearing $70 per barrel. This rise came after U.S.-Iran peace deal let tankers move again through Strait of Hormuz .
The Sensex jumped 400 points,or 0.52%,opening at 77,391.07. Meanwhile,Nifty started at 24,125.85, up over 100 points, or 0.43%. Sectoral indices mostly mirrored this upbeat mood, especially Nifty Realty and Nifty Auto,both climbing nearly 1%.
Other sectors like Nifty PSU Bank, Nifty IT, Nifty Pharma, Nifty Oil & Gas, Nifty FMCG,and Nifty Private Bank also gained. But Nifty Metal was lone sector in red,slipping 0.56%.
Early losers in Nifty included Hindalco Industries, Bharat Electronics, Power Grid Corporation,and Infosys. On flip side,Nifty Microcap 250 rose 0.87%,while Nifty Midcap 100 and Nifty Smallcap 500 gained 0.63% and 0.59%,respectively .
The India VIX,market volatility gauge,fell almost 3% to 13, showing reduced fear. Analysts say technical outlook stays positive if Nifty stays above 24,000. Immediate support seen at 23,900, with more at 23,790-23,750 if profit-taking hits.
“On upside,the 24,090-24,150 zone remains the key resistance area,and a decisive breakout above this supply zone could trigger fresh short-covering, paving the way for move towards 24,300,” analysts noted.
Global signals back positive trend,with Brent crude down ~2% to ~$72 per barrel. US West Texas Intermediate (WTI) crude also fell 1.83%,under $70. Traders eye market shifts, wary of upcoming expirations…
