Stock Market LIVE Updates: The market is poised to kick off an important Thursday session on a positive note, with the BSE Sensex leaping more than 540 points and Nifty crossing the 23,830 mark, riding gains from the banking and IT counters. The expiry of weekly options on the Sensex is here today ahead of the monthly expiries next week, when traders are closely watching for positioning, global cues, and important levels in anticipation of bigger intraday swings.
After Wednesday’s recovery from deeper cuts, the market enters the session with one big question: Can the rebound continue, or does supply return at higher levels?
Good morning, Traders — Here’s What The Market Is Watching Today
The setup looks cautiously positive from the start, but the conviction is still lacking.
Wall Street rallied late overnight, helped by softer bond yields and some cooling in crude prices. While markets welcomed the move, investors remain careful because there is still no firm breakthrough around West Asia developments.
Back home, the mood appears constructive — but selective.
GIFT Nifty Signals Positive Start
Early indications point to a firmer open.
The GIFT Nifty was trading higher by 147.50 points (0.62%) at around 23,812.50 at 7:20 AM, hinting that Indian equities could begin Thursday’s trade in the green.
But expiry-day optimism and sustained momentum are rarely the same things.
What Happened On Dalal Street Yesterday?
Wednesday’s session was another reminder that volatility is not leaving anytime soon.
Benchmark indices recovered strongly after a weak first half:
Nifty 50 closed at 23,659.00, up 0.17%
Sensex ended at 75,318.39, gaining 0.16%
Both indices had slipped nearly 0.9% intraday before bouncing back
The recovery suggested buyers are still stepping in near lower levels — but not aggressively enough to trigger a breakout.
Bulls Vs Bears: Which Levels Matter Today?
If you are tracking expiry positioning, these are the zones traders are watching closely:
Support Zone: 23,350–23,450
This remains the key cushion for Nifty.
Bulls may attempt to push pullbacks and short-covering rallies as long as this zone holds.
Resistance Zone: 23700-2380
That’s the problem now.
Breaking above this zone could bring back the path to the 20-day moving average at around 24,000.
But expiry sessions often punish aggressive positioning—so traders may prefer confirmation over anticipation.
Will oil prices continue to drive sentiment?
Crude remains one of the market’s biggest variables.
After a sharp fall in the previous session:
Brent crude held its ground above $105 a barrel
WTI traded around $99 a barrel
Markets will be looking at developments regarding the possible easing of supply concerns and discussions on resuming energy movement through the Strait of Hormuz.
Lower oil prices are likely to support India’s sentiment more broadly on inflation and import concerns, although volatility in energy markets is high.
