Nifty, Sensex may open in green on positive global cues, key levels to watch on October 9

In the previous session, the benchmarks closed with losses.

Nifty 50 and Sensex may see a positive start on the bourses on Thursday, October 9, after a close in the red in the previous session as global markets rally sharply on AI-driven optimism.

At 7.50 a.m., the GIFT Nifty index was quoting 25,151, higher by 0.24 percent or 60 points. In the previous session, the markets traded sideways and ended with a mild downtick, taking a breather after the recent surge.

Overnight, technology shares boosted U.S. stocks to a higher close on Wednesday as investors, lacking economic data during the government shutdown, looked to minutes from the Federal Reserve's most recent policy meeting for clues to the outlook for interest rates.

The tech-laden Nasdaq enjoyed the biggest percentage gain, boosted by the artificial intelligence-related megacaps that have led market gains so far this year.

The S&P 500 and the Nasdaq notched all-time closing highs, while the Dow ended flat. The Dow Jones Industrial Average fell 0.00 percent, the S&P 500 gained 0.58 percent and the Nasdaq Composite gained 1.12 percent.

Asian shares rose after a renewed wave of buying in companies linked to the artificial-intelligence boom sent Wall Street benchmarks to new peaks.

On the domestic front, going forward, while global cues will remain influential, market focus is expected to shift toward domestic earnings, key macroeconomic indicators, and the festive season momentum, noted analysts.

Key levels to watch in trade

Nifty index paused its recent upward momentum, forming two consecutive Shooting Star candlesticks—an early sign of exhaustion at higher levels. The index has been struggling to surpass its immediate resistance of 25,200.

“On Wednesday, Nifty slipped 62.15 points to close at 25,046.15, marginally above its crucial make-or-break zone. The index has now carved out a broad trading range between 25,200 and 24,900. As long as it remains within this band, a choppy and range-bound phase is likely to persist,” said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

From a technical standpoint, he added that Nifty continues to hover around the psychological mark of 25,000, with multiple layers of support aligning nearby. On the upside, unless the index decisively clears the 25,200–25,250 resistance band, sellers are expected to maintain their grip.

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