The recovery in the key indices, analysts believe, came on the back of upbeat global markets
In the previous session, both indices closed in the red. Sensex declined 110.64 points or 0.14 per cent to settle at 77,580.31, while Nifty50 ended at 23,532.70, losing 26.35 points or 0.11 per cent
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The GIFT Nifty indicated a flat start, with an uptick of 12 points at 6:35 AM, trading at 24,464.5
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At 6:30 AM, GIFT Nifty Futures were trading about 49 points lower at 25,069, suggesting a negative start for Indian markets.
At 6:41 AM, GIFT Nifty Futures indicated a modest increase of 53 points, reaching 25,102 levels, suggesting a tentative start for the Indian markets.
Analysts, however, suggest that the retail investors can capitalise on this opportunity to buy quality stocks at relatively better prices, provided they reach attractive levels
At 6:38 AM, GIFT Nifty Futures were trading 114 points lower at 24,871, indicating a potential gap-down opening for Indian markets.
At 6:40 AM, GIFT Nifty futures were trading 89 points higher at 25,262 levels, suggesting a robust opening for the markets.
The BSE Sensex fell as much as 1,264.2 points, or 1.50 per cent, reaching an intraday low of 83,002.09. Similarly, the Nifty 50 dropped 345.3 points, or 1.33%, hitting an intraday low of 25,451.60
At 7:20 AM, GIFT Nifty futures were trading approximately 8 points higher at 25,998 against Nifty futures close, suggesting a muted opening.
At 6:41 AM, GIFT Nifty futures were down 369 points, trading at 24,342.50, suggesting a gap-down start.
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Markets are showing strong momentum, with Nifty firmly holding above the 23,300 mark, indicating that bulls are in strong control
The faith in the market is at epic levels and may require something equally epic to break the faith. High or even bubble valuations are irrelevant for non-institutional investors, said a KIE note