Indian Equity Markets Open Strong

On Thursday, Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green with BSE Sensex above 81,600 and Nifty50 above 24,650. At 9:29 AM, BSE Sensex was trading at 81,626.05, up 100 points or 0.12%, while Nifty50 stood at 24,654.35, up 13 points or 0.051%.

The markets showed minimal movement on Wednesday, maintaining a range-bound pattern for the fourth consecutive session. "We anticipate the consolidation phase to conclude soon, with the Nifty likely to surpass the 24,800 resistance level. While sectoral participation remains selective, the banking and IT sectors are expected to play a pivotal role in driving the next leg of the rally," said Ajit Mishra, SVP, Research, Religare Broking.

Global Markets React to US Inflation Data

The Nasdaq surpassed 20,000 points for the first time, and the S&P 500 advanced following US inflation data that strengthened prospects of a Federal Reserve rate reduction. The Dow declined 0.22%, while the S&P 500 and Nasdaq gained 0.82% and 1.77% respectively. Asian markets also showed positive movement on Thursday, responding to favorable US inflation figures.

F&O Restrictions and Investor Activity

Stocks under F&O restrictions include Granules, Manappuram, Metropolis, PVR Inox, RBL Bank, and Hindustan Copper. FIIs sold shares worth Rs 1012 crore, while DIIs purchased Rs 2008 crore worth of shares. The FII net short position increased to Rs 47,768 crore.