Business · Markets · 3 hrs ago
Indian stocks close near highs as analysts see potential for further gains
Indian benchmark indexes closed near their highs on Thursday after buying picked up in the second half of the session.
The market gained support from the US Federal Reserve keeping interest rates unchanged, despite volatility linked to the Sensex expiry.
Analysts say continued strength could lift the Nifty toward 23,100 in the next session.
If the index does not keep rising, they expect it to consolidate between 22,650 and 22,950; they identify 22,800 as an important support level.
Foreign investors sold shares worth Rs 944 crore, while domestic institutional investors bought Rs 1,924 crore.
India’s volatility index fell 7% to 15.12, and the rupee ended 2 paise higher at 95.26 against the US dollar.
Indian benchmark indices closed near the day’s highs on Thursday after fresh buying in the second half of the session.
Buying was particularly strong across the broader market.
Investor sentiment improved after the US Federal Reserve kept interest rates unchanged.
Analysts said further gains could take the Nifty towards 23,100 if the market shows follow-through strength.
If it does not, they expect consolidation between 22,650 and 22,950.
- Who
- Indian benchmark indices and investors.
- What
- The indices closed near the day’s highs, and analysts saw potential for further gains.
- When
- Thursday.
- Where
- India.
- Why
- Fresh buying in the second half of the session and improved sentiment after the Federal Reserve kept interest rates unchanged supported the market.
This story does not have two clearly opposing sides.
The Federal Reserve kept interest rates unchanged, supporting an improvement in investor sentiment.
Indian benchmark indices closed near the day’s highs after fresh buying in the second half of the session.
- Potential upside
- 23,100 on follow-through strength
- Consolidation range
- 22,650–22,950
- Nifty support
- 22,800
- Nifty resistance
- 23,175
- India VIX
- Fell 7% to 15.12