The equity markets on Thursday opened higher, as global sentiment strengthened overnight after the US Fed delivered a 25-bps rate cut to 3.50%-3.75%. The BSE Sensex rose 65.5 points to 84,456.75 in the morning
trade, while the NSE Nifty rose above 25,750 to open at 25,771.4. Shares of IT stocks and PSU banks gained the most in the early trade.
The domestic markets turned red immediately after opening, before staging a smart recovery. However, the market again fell and turned red, with the Nifty trading at the day’s high of 25,803, as of 9:30 am.
In the broader market, the BSE Midcap was trading flat or 0.09 per cent higher. However, the BSE Smallcap index fell 0.31%.
Amruta Shinde, technical & derivative analyst at Choice Equity Broking, said, “Broader sentiment remains cautiously constructive amid mixed global cues and the absence of significant domestic triggers. In the immediate term, market participants will continue to monitor global equity trends, crude oil price movements, and institutional flows to assess the directional bias for benchmark indices.”
She added that from a technical standpoint, Nifty holds immediate support at 25,600–25,650, while the 25,850–25,900 zone continues to act as a strong resistance that has repeatedly halted upward momentum. A decisive breakout above this resistance band will be essential to re-establish bullish traction. Conversely, a sustained move below the identified support range may extend the ongoing consolidation phase.
Ponmudi R, CEO of Enrich Money, said, “Despite the volatility of the past two sessions, the market still reflects consolidation after a sharp upmove rather than a reversal. Both Nifty and Bank Nifty are positioned at key trendline zones, meaning today’s trade could set the directional tone for the rest of the week. Sustaining above 25,850 will be critical for Nifty to rebuild momentum and avoid deeper retracement.”
Overall, India continues to outperform global peers, supported by strong earnings, liquidity flows, and macro stability. The tone remains cautiously optimistic, with a clear bias to accumulate on dips as long as structural supports remain intact. The market is preparing for its next move, and the behaviour of Nifty above 25,850 in the first hour will be the most important signal for today’s session, he added.
