The Indian equity benchmarks ended on a strong note after remaining range-bound for most of the session on Thursday.
GIFT Nifty futures are hinting at a gap down open for the index. As of 10:50 p.m. IST, the GIFT Nifty traded 0.6% lower at 24,050 levels even analysts expect bullish momentum to continue.
Accenture Plc.’s Q3 earnings for financial year 2026, specifically the company’s softer revenue guidance, are going to be hurdles in Nifty IT’s path and threaten to weight on the benchmark as well.
“If Accenture does not recover tonight, it will definitely have impact on Indian IT sector tomorrow,” underlined Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.
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The index can continue its positive momentum if it trades above immediate support level of 24,000. “Any near-term dip toward this level is likely to attract buying interest, as long as the index holds above it,” said Nandish Shah, the Deputy Vice President at HDFC Securities.
On the flipside, if Nifty sustains above the crucial support levels, it might test the levels of 24,300-24,450 in the near term, analysts said.
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Nifty Bank
The banking benchmark has been outperforming Nifty for the past couple of sessions and is expected to continue doing so, as per analysts.
“From a technical perspective, the index is currently trading comfortably above its short-term as well as long-term moving averages, reinforcing the prevailing bullish undertone,” said Shah.
He added that the index is likely to continue its upward trajectory and test the levels of 58,500 followed by 59,100 in the short term. On the downside, the zone of 57,500–57,400 is expected to act as immediate support, providing a cushion against any interim pullbacks.
Market Recap
Benchmark indices extended their gains for the fifth consecutive trading session, their longest gaining streak since April 7. The NSE Nifty 50 rose 82.30 points, or 0.34%, to close at 24,168. The BSE Sensex gained 254.36 points, or 0.33%, to end at 77,409.98.