Stock Market: Can Nifty reclaim the 26,000 mark today? What global cues indicate

Stock Market Today: Indian equity benchmark indices, the Sensex and the Nifty 50, are expected to open flat with a positive bias on Wednesday, tracking mixed global cues and steady institutional buying.

GIFT Nifty

At around 8:30 am, the GIFT Nifty was trading at 26,061.50, up 24 points or 0.09 per cent, signalling a mildly positive start for domestic equities.

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Previous session close

Indian markets ended higher on Tuesday for the third straight session.
The NSE Nifty 50 rose 68 points, or 0.26 per cent, to close at 25,935.
The BSE Sensex gained 208 points, or 0.25 per cent, to settle at 84,274.

The gains came despite cautious global sentiment, supported by selective buying across sectors.

Asian markets trade higher

Asian markets opened higher on Wednesday, extending recent gains.
South Korea’s KOSPI rose 0.65 per cent, while Australia’s S&P/ASX 200 advanced 1.45 per cent.
Japanese markets were closed due to a national holiday.

The positive trend came despite lingering concerns around artificial intelligence spending and weak economic signals from the US.

Wall Street ends mixed

US markets closed mixed overnight.
The S&P 500 slipped 0.33 per cent and the Nasdaq Composite fell 0.59 per cent.
The Dow Jones Industrial Average rose 0.10 per cent to notch its third straight record close.

Investor sentiment was weighed down after US retail sales data for December showed no growth, missing expectations of a 0.4 per cent monthly increase. Markets are now awaiting key labour market data for further cues.

Volatility cools further

India VIX declined for the second consecutive session.
The volatility index fell 4.3 per cent to close at 11.67, its lowest level in four days.
Lower volatility suggests reduced near-term risk perception in the market.

FII and DII activity

Foreign institutional investors continued modest buying.
FII index futures long positions increased to 21.69 per cent from 18.96 per cent, touching a three-month high.
FIIs bought shares worth Rs 69 crore in the cash market for the third straight session.
Overall, FIIs recorded net buying of Rs 844 crore across cash, index futures and stock futures.

Domestic institutional investors remained supportive.
DIIs purchased shares worth Rs 1,174 crore for the second consecutive day.

Technical view: Key Nifty levels to watch

Anil Singhvi, Managing Editor of Zee Business, outlined key support and resistance levels for the Nifty.

He said the 25,775–25,875 zone is an important support area for the index.
Below this range, 25,650–25,750 is seen as a strong buying zone.

On the upside, Singhvi noted that 26,000–26,125 is a higher resistance zone.
He added that 26,175–26,275 could act as a strong sell zone if the index moves higher.

According to him, the market trend remains positive as long as the Nifty holds above the key support levels.