Nifty Surges 85 Points as Global Markets and Crude Oil Prices Boost Indian Equities

Indian Benchmark Indices Expected to Open Higher on Thursday

Indian benchmark indices are likely to open higher on Thursday, with GIFT Nifty indicating a positive start in early deals, tracking firm global cues and relatively stable crude oil prices. GIFT Nifty was trading at 24,334.5, up 85 points or 0.35 percent, suggesting that the Nifty 50 may extend Wednesday's gains and build on its move above the 24,200 mark.

The positive signal comes after a strong rebound in the previous session, when the Sensex surged 1,263.67 points and the Nifty climbed 388.65 points, supported by easing geopolitical concerns and a sharp decline in crude oil prices.

| Market Index | Previous Session Gain | | --- | --- | | Sensex | 1,263.67 points | | Nifty | 388.65 points |

Global markets remain supportive. Asian equities traded higher for a third straight session, with Japan's Nikkei rising over 2 percent to a fresh record, while a broader Asia-Pacific index gained about 0.9 percent. US markets also ended higher overnight, with the S&P 500 and Nasdaq closing at record levels, driven by optimism around corporate earnings and hopes of progress in US-Iran negotiations.

Crude oil prices continued to ease, with Brent trading around the $94-95 per barrel range after falling in early trade, as reports suggested that Iran could allow ships to pass through the Strait of Hormuz as part of ongoing negotiations with the United States. The moderation in oil prices has helped ease concerns over inflation and input costs, particularly for oil-importing economies like India.

Analysts said improving global risk appetite and softer crude prices are supporting the current recovery in domestic equities. Market sentiment has shifted towards a positive bias with cautious optimism, primarily supported by softer crude prices and improving global cues. The sustainability of the rally will depend on continued de-escalation in geopolitical tensions, stability in crude prices, and consistency in foreign investor flows.

Foreign institutional investors turned net buyers in the previous session, purchasing equities worth Rs 666 crore, indicating some stabilisation in flows after recent volatility.

From a technical perspective, the Nifty is trading in the 24,200-24,300 range, with immediate resistance seen in the 24,350-24,400 zone. A sustained breakout above this band will be key to extending gains towards higher levels. On the downside, the 24,000 mark is expected to act as an important support.