Is the Sensex Rising? Nifty Approaches 25,000 Amidst Mixed Global Signals

Synopsis
Key Takeaways
- Sensex opened up by 85 points.
- Nifty is approaching the 25,000 mark.
- Encouraging trade discussions with the United States.
- Sector performance varied, with Nifty Media leading gains.
- Market sentiment remains cautiously optimistic amid volatility.
Mumbai, Sep 11 (NationPress) The key domestic benchmark indices made a slight upward movement on Thursday, influenced by developments regarding bilateral trade negotiations between India and the United States, alongside various global indicators.
At 9:25 am, the Sensex registered an increase of 85 points, equating to a rise of 0.11 percent, reaching 81,510, while the Nifty climbed 24 points or 0.09 percent, standing at 24,997.
The broader indices surpassed the benchmark figures, with the Nifty Midcap 100 gaining 0.16 percent and the Nifty Small Cap 100 rising by 0.28 percent.
Major gainers on the Nifty included NTPC, ONGC, TCS, and SBI, while the laggards comprised SBI Life Insurance, Hero Motorcorp, Dr Reddy's Labs, Tech Mahindra, and Trent.
Sector-wise, the Nifty Media index emerged as the top gainer, surging 1.46 percent, followed by Nifty PSU Bank (up 1.11 percent) and Nifty Oil and Gas (up 0.91 percent). Other indices showed negligible fluctuations.
The Nifty extended its rally for the sixth consecutive session yesterday, boosted by positive developments in trade talks with the United States.
Investor sentiment remains cautiously optimistic, yet the ongoing volatility and mixed global cues continue to impact confidence.
Experts suggest that a decisive breakout above 25,160 could pave the way to 25,340, with immediate support levels identified at 24,950 and 24,850.
In the Asia-Pacific markets, expectations for a rate cut by the US Federal Reserve have increased, while investors are analyzing inflation data from China. The consumer prices in China fell 0.4 percent year-over-year in August, as reported by the National Bureau of Statistics.
Asian markets displayed robust gains during the morning session, with China's Shanghai index rising by 0.92 percent and Shenzhen advancing by 2.32 percent. Japan's Nikkei climbed 0.99 percent, while Hong Kong's Hang Seng Index decreased by 0.41 percent. South Korea's Kospi saw a minor increase of 0.31 percent.
On Wednesday, foreign institutional investors (FIIs) net sold equities worth Rs 115 crore, whereas domestic institutional investors (DIIs) net purchased shares worth Rs 5,004 crore.