Stock Market updates: Gift Nifty envisages positive start

The trends on Gift Nifty indicates a positive start for the Indian benchmark index. The benchmark indices Nifty 50 and Sensex ended in the green in the previous trade sessions.

Stock Market updates: Gift Nifty envisages positive start

Domestic equity benchmarks Nifty 50 and Sensex are likely to initiate good trading sessions with green note amid global cues. Gift Nifty futures an early indicator of the Nifty 50 index, up 33.45 points or 0.16 percent at 21,418.5 ahead of the opening bell on Dalal Street. On Friday, the domestic equity indices ended higher with Sensex ascending to 241.86 points to close at 71,106.96, while the Nifty 50 settled 94.35 points, or 0.44 percent higher at 21,349.40.

Financial analysts are expecting a turnaround situation for market existence due to derivative settlement and portfolio adjustments by institutional investors. The recommended trades for Nifty and Bank Nifty are outlined with most bidding on Coal India, Zomato, Britannia, and SRF.

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Bank Nifty failed to cross 48,100 levels and witnessed a strong reversal in the second half. The respective Nifty trade of 48,000 CE has the highest OI while on the downside has moved to 47,000 for the put OI for the monthly expiry.

The Nifty 50 outlook has tested the higher range of 21,400 levels and the expected crossover of the same would witness a breakout on the higher side to scale a new all time high. 

Rating agency Fitch anticipated robust economic growth in India and mentioned it to be among the world's fastest-growing sovereigns, with resilient GDP growth of 6.5 percent in FY25 and FY24 6.9 percent.

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