Indian stock market: Gift Nifty was trading around 24,527 level, a premium of nearly 154 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following a rally in global markets.
Asian markets traded higher, while the US stock market rallied overnight led by technology stocks and signs of easing US-China trade war.
On Thursday, the Indian stock market indices ended lower on profit booking, snapping their seven-day winning streak.
The Sensex declined 315.06 points, or 0.39%, to close at 79,801.43, while the Nifty 50 settled 82.25 points, or 0.34%, lower at 24,246.70.
“This phase of consolidation in the index is in line with expectations and may continue in the coming sessions. Therefore, we recommend maintaining a focus on stock selection and using market dips as buying opportunities. Following their recent outperformance, banking and financial stocks may see some consolidation. Meanwhile, sectors like PSEs, metals, and pharmaceuticals could attract renewed interest, so plan your short-term positions accordingly,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
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