The Indian stock market is poised to open on a positive note on Thursday, December 26, with both Sensex and Nifty 50 likely to gain. This optimism is being driven by encouraging signals from Asian markets, though many global equity markets remain closed for the holiday season today. Additionally, the trends on Gift Nifty, which is an early indicator of market sentiment, suggest a positive start for the Indian benchmark indices. The Gift Nifty was trading around the 23,800 level, marking a premium of nearly 30 points from the previous close of Nifty futures.
On the other hand, the Gift Nifty also reflects some cautiousness in the markets, indicating a muted start for the Indian indices. The Gift Nifty was seen trading around the 19,440 level, showing a discount of nearly 30 points from the previous Nifty futures close.
The Indian stock market, along with major global markets, was shut on Wednesday due to the Christmas holiday. On Tuesday, however, the domestic equity market ended on a slightly negative note, with the benchmark indices closing marginally lower after a volatile trading session. The Nifty 50 formed a small red candle on the daily chart, which followed the previous day’s positive candle, signaling uncertainty in market momentum.
Looking ahead, market participants will be closely watching developments in global markets, particularly in the U.S. and Asia, which could influence the Indian market's direction in the coming sessions. As the global holiday season continues, lower volumes may contribute to more subdued market movements in the short term.
