Dalal Street remained poised to start Thursday morning on a positive note after a hitting fresh highs in the session yesterday. The BSE Sensex opened trading above 85,700, jumping more than 100 points, while the NSE Nifty50 rang the opening bell near 26,200, inching up 15 points, around 9:15 AM.
The pre-open session also gave indications of a favourable session ahead for investors. Around 9:04 AM, the BSE benchmark soared closer to 85,800, while the Nifty gained over 70 points.
Notably, Indian indices delivered a strong comeback on Wednesday, reversing a three-session decline, as domestic investors followed a sharp rally across global markets. Buying interest spanned most sectors, powered by expectations of a US Federal Reserve rate cut in December and improving fund flows from institutional investors.
The Sensex surged 1,022.50 points or 1.21 per cent to close at 85,609.51. NSE’s Nifty50 reclaimed the psychologically important 26,000 mark, gaining 320.50 points or 1.24 per cent to finish at 26,205.30.
Ponmudi R, CEO of Enrich Money, said, “broad-based buying across sectors reflecting the sharp risk-on sentiment in global equities” and attributed the move to “growing expectations of a US Federal Reserve rate cut in December, after the latest US economic releases, including September retail sales and producer price data, signalled softening demand and cooling inflation.”