Stock markets are set for a positive start on Thursday, buoyed by strong gains in Asian markets and optimistic global cues, with hopes of an RBI rate cut boosting investor sentiment.
As of 8:00 am, Nifty futures were trading at 24,733.5, signaling a solid opening above the previous close of 24,620.2. Several stocks are expected to be in focus during the day.
The MSCI Asia ex Japan index rose 0.8%, led by South Korean shares hitting an 11-month high thanks to post-election optimism. Hong Kong stocks also showed gains. Meanwhile, US markets ended mixed on Wednesday, with treasury yields and the dollar falling following data showing a slowdown in the US services sector—its first in a year. Lower US yields generally attract foreign investment into markets like India.
Foreign institutional investors (FIIs) reversed recent selling trends, buying Indian shares worth ₹1,076.18 crore on Wednesday. Domestic institutional investors (DIIs) continued their buying streak for the twelfth consecutive day.
VLA Ambala, co-founder of Stock Market Today, expects the Nifty to trade in a range of 24,300 to 25,000 in the coming sessions. She noted support around 24,500–24,370, with resistance between 24,730 and 24,800. Ambala highlighted the ongoing upward trend with healthy pullbacks, advising ETF investors to watch for opportunities while monitoring individual stock moves closely.
The market is also closely watching the RBI’s policy meeting on Friday, where most analysts anticipate a 25 basis points rate cut—potentially the third consecutive reduction—which could further energize the markets.
