Indian equity markets witnessed a strong gap-up opening and extended their gains throughout the session, appreciation in the Indian Rupee from lower levels, and short covering by FIIs, all of which lifted investor sentiment. From short term perspective, analysts say index to head towards the key resistance area of 24,500-24,600 levels being the confluence of the current month high and the high of April 2026.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a muted start

GIFT Nifty on the NSE IX traded lower by 31 points, or 0.12 per cent, at 24,272, signaling that Dalal Street was headed for a muted start on Thursday.

Tech View: In the near term, the index is likely to remain strong, with the potential to rise towards 24,450–24,500. On the lower end, support is placed at 24,100. Sentiment may weaken if the index falls below this level, which could lead to a decline towards 23,950.

India VIX: India VIX, which is a measure of the fear in the markets, fell 4.4% to settle at 12.01 levels.

Read Also: Ahead of Market: 10 things that will decide stock market action on Thursday

The benchmark S&P 500 hit its lowest level in a month, while the tech-heavy Nasdaq was down about 9% from its June record high.

Asian stocks swung between gains and losses on Thursday as a deepening selloff in semiconductor shares extended losses in the US. Long end of Treasuries dropped, sending yields to their highest levels in almost two decades amid uncertainty over the Federal Reserve’s policy outlook.

S&P 500 futures rose 0.4% as of 9:06 a.m. Tokyo time

Hang Seng futures rose 0.7%

Japan’s Topix fell 1%

Australia’s S&P/ASX 200 fell 0.3%

Euro Stoxx 50 futures fell 0.8%

Oil prices gave up some of their gains on Thursday as oil tankers continued to make their way out of the Middle East even as tensions there escalated, with the U.S.-Iran war spreading beyond its main fronts.

The U.S. dollar found its footing at the start of Asian trading on Thursday after the Federal Reserve kept its policy interest rate on hold and Chair Kevin Warsh left markets guessing about how divisions on its rate-setting committee would resolve.

Stocks in F&O ban today

NIL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Foreign portfolio investors net bought shares worth Rs 2,981 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 998 crore.

The Indian rupee strengthened to a near three-week peak on Wednesday, supported by a rally in local stocks and traders trimming bearish positions ahead of the US Federal Reserve's policy decision later in the day.