The Indian stock market is expected to begin Thursday on a quiet note as the GIFT Nifty indicates a muted opening. Even though global markets slipped overnight, sentiment in India remains relatively stronger compared to other major markets.
A big positive for the market has been the clear victory of the NDA in the Bihar elections. This result removes political uncertainty and gives investors more confidence. Experts now say the next major trigger could be the India–U.S. trade deal, which both sides claim is very close to being finalized.
With these cues, the Nifty is currently trading near lifetime highs around 26,277. Whether this level gets crossed in November is something traders are watching closely. The Bank Nifty has already hit fresh all-time highs, moving past the 59,000 mark.
Meanwhile, life in Mumbai has been affected since Sunday due to a gas supply cut at the MGL’s Wadala unit. Many commuters faced trouble reaching offices and returning home. However, both GAIL and MGL have said that supply should be fully restored by this afternoon, which should ease the situation.
Coming back to the markets, today is the weekly F&O expiry for Nifty, so volatility may pick up. Global sentiment is weak after a sharp sell-off in the U.S., where concerns about the slowdown in the AI-driven rally led to a 500-point drop in the Dow.
Despite this, analysts believe the Indian market may still attempt to move toward the key resistance level of 26,100. If Nifty crosses this mark, experts say it could open the door to new record highs.
Several block deals are also expected today, especially now that the Q2 earnings season has ended. One of them—Zinka Logistics—has already taken place, and more are likely through the day.
Traders are expected to stay stock-specific and take cues from global trends while keeping an eye on Nifty’s key levels.
source – moneycontrol
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