▲ Pre-Market Signal · 8:13 AM IST. GIFT Nifty at 24,437 — Nifty 50 expected to GAP UP ~106 pts
Indian equity markets are set for a robust opening on Thursday, following a massive surge in global indices. The GIFT Nifty is currently trading at 24,437, suggesting a gap-up start of over 100 points for the Nifty 50.
Table of Contents
| Index | LTP | Change |
|---|---|---|
| NIFTY 50 (Previous Close) | 24,330.95 | – |
| GIFT NIFTY | 24,437 | +106.05 |
| NIFTY BANK | 55,981.05 | – |
| INDIA VIX | 16.68 | 0.00% |
Global Market Sentiment
Wall Street witnessed a strong rally overnight as the Nasdaq surged over 2% and the Dow Jones jumped 612 points. This bullish momentum has spilled over into Asian markets during early trade today.
Japan’s Nikkei 225 is the top performer in the region, trading up by more than 5.60%. Meanwhile, the Hang Seng index in Hong Kong also posted healthy gains of 1.27%.
| Global Index | Value | Percentage Change |
|---|---|---|
| Dow Jones | 49,910.59 | +1.24% |
| Nasdaq | 25,838.94 | +2.02% |
| Nikkei 225 | 62,867.34 | +5.64% |
| Hang Seng | 26,545.80 | +1.27% |
Technical Levels to Watch
The Nifty 50 index faces immediate overhead resistance at 24,450 followed by the 24,550 zone. A sustained move above these levels could trigger further short-covering in the derivative segment.
On the downside, support is firmly placed at 24,250 and 24,180. The Bank Nifty will look to hold the 55,500 mark to maintain its upward trajectory.
Macro Factors and Volatility
India VIX remains relatively stable at 16.68, indicating that market participants are not pricing in extreme fear. However, Brent Crude prices climbing above the $101.76 per barrel mark may pose a challenge for domestic inflation.
The USD/INR pair is trading at 94.60, reflecting a stable currency environment for the moment. Institutional investors will closely monitor the gap-up sustainance during the first hour of trade.
