Benchmark indices opened higher in today’s session amid strong cues from Asian markets following gains in Wall Street as investors  welcomed US President Donald Trump’s growth initiatives.

Both the indices, Sensex and Nifty, which ended at almost 11-week high on Wednesday, extended gains for the third straight session on fresh buying ahead of January F&O expiry and Union Budget next week.

Nifty 50 hit 8,500 on opening, for the first time since November 10 led by gains in Bajaj Auto, Ultratech Cements, Idea and Tata Power while Sensex rallied over 100 points.

At 9:17 am, the S&P BSE Sensex was trading at 27,454 up 79 point, while the broader Nifty50 was ruling at 8,498, up 22 points.  In the broader market, the BSE Midcap and BSE Smallcap indices registered an uptick of 0.3%, and 0.4%, respectively.

“Looking towards the momentum Nifty is carrying since last two trading sessions, it likely to extend its rally towards 8,520/8,570. On the flip side, Nifty has a immediate support at 8,370 levels on closing basis. For intraday, Nifty support lies at 8,420/8,370 and resistance placed at 8,440/8,460,” said Nirmal Bang in a technical note.
Global Markets

Asian stocks are set to climb to fresh three-month highs on Wednesday following a stronger Wall Street as investors welcomed U.S.
President Donald Trump’s eagerness to deliver on his campaign promises.

Source: business-standard.com