Domestic equity benchmarks Nifty 50 and Sensex might open on a tepid note, following mixed global cues on September 11, Thursday. At 7.40 am, the GIFT Nifty index was trading at 25,079, higher by 5 points or 0.02 percent.
Globally, the uptrend in US equities continued, driven by hopes of Fed rate cut in the upcoming policy meet to counter slowing job growth. The S&P 500 and Nasdaq notched record-high closes on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rates next week.
Asian equities were mixed Thursday after a rally on Wall Street drove stocks and bonds higher, as a drop in producer prices supported bets the Federal Reserve will resume cutting interest rates next week.
In the previous session, Indian benchmark indices extended the previous session gains with Nifty crossing 25,000 intraday on September 10, led by IT, financial, realty names. However, profit booking in auto and media stocks erased some of the intraday gains.
"Renewed optimism around ongoing trade negotiations between India and the US lifted market sentiment. Anticipation of stronger H2FY26 earnings, driven by GST rationalization and the benefits of monetary easing, is providing resilience to valuations," said Vinod Nair, Head of Research, Geojit Investments
Foreign investors net sold Rs 116 crore worth of Indian equities on Wednesday. At the same time, domestic institutional investors (DIIs) net bought shares worth Rs 5,004 crore, according to provisional exchange data.
Key levels to watch
Nifty continues to grapple with the psychological 25,000 mark, which has emerged as a stiff resistance zone.
The immediate hurdle is seen at 25,050, followed by 25,150, while on the downside, 24,800 has proven to be a reliable support level, having held firm on two occasions. As long as this base remains intact, a buy-on-dips approach appears favourable, said Dhupesh Dhameja of Samco Securities.
He added that the broader trend remains constructive, backed by a strong base near 24,700–24,800 and the support of the 20- and 50-DEMA cluster. The ongoing higher-high and higher-low structure further strengthens the bullish undertone.
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