Today, Thursday, the market started well but became a bit volatile after opening. However, a strong uptrend returned in the last hours. The market closed with significant gains, ending the three-day losing streak. Nifty closed at 25,900, up 140 points. Auto index gained more than 1 percent today. Media and Oil & Gas indices saw slight losses, but all other indices were trading firmly higher. At around 2 pm, the Sensex was up by more than 300 points. Nifty was also up by 100 points and was trading above 25,850. Barring a slight decline in the Oil & Gas sector, all sectoral indices were trading in the green. The biggest gains were seen in Auto, Metal, Pharma and Private Bank indices.
What are the reasons for this strong market rally?
Global markets benefited from interest rate cuts in America.
– Weakness in the dollar index was also positive for the markets.
– Positive news also came out regarding trade deals.
– For the last three days, Nifty was trying to find support near 25700 and Bank Nifty was trying to find support near 58800.
Which levels are important now? ,
Nifty 25675-25750, Bank Nifty 58800-59000 are strong support levels
– In recovery, Nifty will try to reach the range of 25900-26000
– Recovery target of Bank Nifty is 59350-59550
– If Nifty closes below 25700 and Bank Nifty closes below 58800 then lighten the position.
If Nifty closes above 25950 and Bank Nifty closes above 59350, it will indicate that the decline will stop.
stock in action
Voda Idea:
– Vodafone Idea is trying to cross the level of 11 for the third time
– OFS was at level 11
– Recently, it crossed level 11 twice intraday but did not close above it
Adani Green:
– Good recovery seen from lower levels in power stocks
– Stock buying returned after the block deal
BSE:
– Strong buying seen in capital markets infrastructure stocks
– This stock was mentioned in ‘Opening Heroes’ this morning at level 2643
Shortly after the open, the indices slipped into the red. Overall, the market was quite volatile. Around 09:22 am the Sensex was up 60 points at 84,451. Nifty was up 28 points at 25,786. There was 63% bearish sentiment in the market. Broader markets were trading mixed. Buying was seen in IT and metal indices.
At the opening, Sensex opened 65 points higher at 84,456. Nifty opened 13 points up at 25,771 and Bank Nifty opened 6 points up at 58,966. In the currency market, the rupee opened 1 paise weaker at 89.98/$ against the dollar.
The opening was expected to be strong based on global cues. The US Federal Reserve, as expected, cut interest rates by a quarter percentage point and also announced the purchase of $40 billion of government bonds per month to increase liquidity in the system. However, the Fed forecasts only one rate cut in 2026, leading to a cautious outlook for the future.
Global market boom
After the Fed’s decision, US markets gained momentum. The Dow Jones gained 500 points to close at a four-week high, while the Nasdaq rose 75 points to a five-week high. The Russell 2000 also hit a new all-time high for the second consecutive day. GIFT Nifty was trading up 80 points at around 25,950, although Dow futures showed some weakness in early trade.