The three-day decline stopped and on Thursday Nifty opened 135 points higher at 24,615, while Sensex opened 414 points higher at 79,530. The Iran war has cooled down the global markets including India. Iran hinted at diplomatic talks on Wednesday, which brought some positivity in the global market. On Wednesday, Nifty reached an intraday low of 24,305 and finally closed at 24,480, falling 385 points.
What is positive for the market today?
There was a good recovery in the US market, which closed at a day’s high.
Domestic funds made big purchases worth ₹12,000 crore yesterday.
Nifty got support yesterday at a big level of 24,300.
Bank Nifty recovered from the closing level of 58,400 on Budget Day.
Gold and silver traded peacefully, indicating reduction in risk.
Indications of increase in flights to some Gulf countries.
What is negative for the market today?
Heavy selling by FIIs at cash and net level.
Rupee closed at record low of 92.15.
Crude oil remains strong near $83.
Sharp attacks continue from both Iran and the US.
No statement on peace or stopping the war.
VIX rose again by 23% yesterday, which shows volatility.
Despite the market recovery, mid- and small-cap markets remain quite weak.