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Indian Markets Poised for a Positive Start

Mumbai, India (September 26, 2024) – Indian equity markets are expected to open on a strong note, following the positive cues from the GIFT Nifty. The benchmark indices, Sensex and Nifty 50, are likely to continue their upward trajectory, buoyed by the recent record-breaking performance.

As of this morning, the GIFT Nifty, a key indicator of the Indian market’s sentiment, was trading near 26,045, suggesting a potential upside for domestic indices. This positive outlook comes on the heels of a successful trading session on September 25, when the Nifty 50 index breached the 26,000 mark for the first time.

The previous day’s gains were primarily driven by strong performances in the energy, metal, and media sectors. The Sensex closed 0.30% higher at 85,169.87, while the Nifty 50 rose 0.25% to 26,004.15.

Key Factors Influencing the Market:

Positive Global Cues: Favorable economic indicators and upbeat sentiment in global markets are likely to support Indian equities.
Strong Domestic Fundamentals: India’s robust economic growth, coupled with positive corporate earnings, is bolstering investor confidence.
Sectoral Performance: The continued strength in sectors like energy, metals, and media is expected to drive the market’s upward momentum.

While the overall outlook for Indian equities remains positive, investors should exercise caution and be mindful of potential short-term volatility, especially in the context of global economic uncertainties and geopolitical events.

Stay tuned to Moneycontrol for the latest updates on the Indian stock market and the GIFT Nifty.