Stock Market Live Updates, Indian Share Market News Today: Indian equity benchmarks opened on a positive note on Thursday, extending the momentum from Wednesday’s strong rally.
In early trade, the BSE Sensex edged up 134 points, or 0.16 per cent, to trade at 85,743, while the Nifty50 added 30.15 points, or 0.12 per cent, to stand at 26,235.
Broader markets also saw mild gains, with the Nifty Midcap index rising 0.16 per cent and the Nifty Smallcap index advancing 0.18 per cent.
On the sectoral front, the Nifty Metal index led the move higher with a 0.5 per cent gain, followed by the Nifty Auto index, which climbed 0.35 per cent.
Global Cues
Across Asian markets, equity benchmarks were trading firmly in the green, led by gains in Japan’s Nikkei and South Korea’s Kospi. According to Bloomberg, global equities are close to wiping out their losses for November, with the MSCI All Country World Index rising for a fifth consecutive session.
Overnight, Wall Street extended its winning streak as optimism around potential interest rate cuts continued to fuel buying interest. The S&P 500 advanced 0.69 per cent, while the technology-heavy Nasdaq gained 0.82 per cent.
Back home, a key development emerged from the foreign exchange market, with the International Monetary Fund reclassifying the rupee’s exchange rate regime from ‘floating’ to ‘crawl-like’, citing a moderation in the central bank’s forex interventions in recent times. A crawl-like arrangement refers to small, gradual adjustments in the currency to reflect inflation differentials between a country and its trading partners.
Nifty levels to watch
A sustained 15-minute close above 26,277 could trigger fresh upward momentum towards the 26,350–26,500 zone, with a potential short-term extension towards 27,000, said Ponmudi R, CEO of Enrich Money. “On the downside, immediate support is seen at 26,100–26,000, while a stronger safety buffer lies around 25,850 in the event of a sharper pullback. Momentum indicators remain supportive,” he added.