India’s benchmark stock indices opened slightly higher on Thursday, March 13, 2025, buoyed by favorable global market trends and softer-than-expected inflation data from both the U.S. and India.
Market Opening Highlights:
- Nifty 50: Rose by 0.15% to 22,501 points as of 9:20 a.m. IST.
- Sensex: Increased by 0.18% to 74,138.81 points at the same time.
The Information Technology (IT) sector led the gains, with the Nifty IT index advancing by 0.7%. This uptick follows a period where the IT index had confirmed a bear market, indicating a potential recovery in the sector.
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Bank Nifty: Opened higher, reflecting positive sentiment in the banking sector. Analysts suggest that if Bank Nifty surpasses the 48,500 mark, it could signal further upward momentum; conversely, dropping below 48,000 may indicate potential declines.
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Bankex: Mirrored the positive opening of Bank Nifty, with major banking stocks showing early gains.
Key Support and Resistance Levels:
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Nifty 50:
- Support: 22,300 and 22,000
- Resistance: 22,600 and 23,000
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Bank Nifty:
- Support: 48,000 and 47,500
- Resistance: 48,500 and 49,000
These levels are crucial for traders to watch, as movements beyond these thresholds could dictate market direction in the short term.
Contributing Factors:
The positive opening is largely attributed to:
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Inflation Data: Both U.S. and Indian consumer price indices showed moderate increases in February, easing concerns over aggressive monetary tightening.
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Global Cues: Stable international markets have provided a supportive backdrop for domestic equities.
