The Indian market opened on a strong note on Thursday despite the US inflation surged to 41-year high at 9.1 per cent on Wednesday. Benchmark Nifty50 opened near 16000, while the Sensex gained over 150 points in the opening trade. The two indices opened at 16,018.85 and 53,688.62 respectively on Thursday
“Early dips to 15870 could present an opportunity to swing higher. However, inability to scale the 15980-16040 barrier will set up the environment for another plunge aiming at the lower 15700s,” Anand James, Chief Market Strategist at Geojit Financial Services, had said ahead of the market opening
In the broader market, Nifty midcap and smallcap were trading higher by around 0.3% each.
Among the sectoral indices, except for Nifty PSU Bank, all other indices sat in the green.
In the pre-open, the Sensex rose by nearly 200 points to 53,688.62 around 9.10 am as 18 stocks advanced, six declined and one remained neutral on the 30-share index.