Latest News The Nifty index marked its fifth consecutive day of gains on Wednesday, inching closer to the level of 22,600. Sustaining above this level could pave the way for new highs, adding to the cautious optimism among investors. Although the gains have been modest, the index has consistently made higher highs over the last seven trading sessions.
The Nifty's upward movement has been characterized by steady, incremental gains rather than dramatic surges. This measured advance comes as the market anticipates the outcome of the Lok Sabha elections, maintaining a "wait and watch" stance. The lack of significant volatility has been mirrored by a decline in the India VIX, which dropped on Wednesday but still remains above the 21 mark, indicating that investors are not entirely free from concerns.
Thursday is set to be important for the Nifty 50, with the weekly options expiry for the May Futures & Options (F&O) series. The recent uptick in the Nifty has turned the index positive for the series, albeit marginally. This positive shift, though slight, is a welcome change and could influence trading strategies and sentiment going forward.
A flurry of quarterly results reported after market hours on Wednesday is expected to impact Thursday's trading session. Key stocks such as Gland Pharma, Jubilant Foodworks, Grasim, Garden Reach Shipbuilders, Power Grid, Metro Brands, and Minda Corp will likely see significant movement. Investors will also be closely watching Nifty heavyweight IT.
