Nifty Opens Above 24,800, Sensex Gains 300 Points, Broader Market in Green
- Nifty 50 starts at 24,819.55, up 85 points (0.34%)
- Sensex tests 81,000 level, rising nearly 300 points
- All sectors trade positive except FMCG
The Indian equity markets opened on a positive note with both the BSE Sensex and NSE Nifty 50 gaining ground in early trade. The Nifty 50 advanced over 85 points, or 0.34%, to start the day at 24,819.55, while the Sensex climbed nearly 300 points to test the 81,000 level. Market sentiment was supported by a strong start in Asian equities and firm signals from GIFT Nifty. All major sectoral indices opened in the green, with FMCG being the only sector showing mild weakness.
Market expert Nimesh Thaker explained that equity reactions often reflect expectations around key events. Investors were anticipating a possible GST rate cut ahead of the festive season, but instead, the announcement of a new 40% tax slab created disappointment among participants. As a result, market sentiment is now more influenced by global factors, which remain mixed.
From a technical perspective, Thaker noted that the Nifty is currently trading near its 100-day moving average, suggesting a sideways-to-consolidation trend. He highlighted that the 25,000–25,100 zone is acting as a strong resistance area, while the 24,300-24,400 range provides solid support. This positions the index within a 500-600 point trading band, indicating limited movement unless a clear breakout or breakdown occurs.
Overall, while the domestic market outlook remains cautiously optimistic, the near-term trajectory of the Nifty will likely be guided by global developments, sector-specific performance, and investor reactions to upcoming policy cues.
