The Indian stock market is expected to start on a higher note on Wednesday (August 26), as indicated by GIFT Nifty trading 0.2 per cent, or 42.5 points, higher at 24,560 as of 8:15 am IST. According to reports from ET Now, GIFT Nifty serves as a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower or flat based on global market cues. This positive opening sentiment comes after Tuesday's session where the BSE Sensex gained 286.98 points, or 0.37 per cent, to close at 77,656.09.
Pradip Halder, Founder and CEO of PHD Capital Pvt. Ltd., has recommended several stocks that could potentially deliver gains during Wednesday's trading session. As reported by ET Now, the analyst has specifically highlighted Jubilant FoodWorks and Hindustan Petroleum Corp Ltd (HPCL) among his top picks for the day. These recommendations come as markets show positive momentum following Tuesday's recovery from intraday lows.
Asian markets provided positive cues with broad-based gains across major indices. According to ET Now, Japan's Nikkei 225 gained 0.9 per cent to 66,435.50, while South Korea's KOSPI traded about 2 per cent higher at 6,876.23. Hong Kong's Hang Seng jumped around 2 per cent to 25,736.5, and China's Shanghai Composite was up about 1 per cent at 3,924.39. These positive Asian market movements are supporting the optimistic opening sentiment for Indian markets.
Tuesday's trading session saw mixed performance with the benchmark indices recovering from intraday lows. As reported by ET Now, the NSE Nifty rose 115.50 points, or 0.48 per cent, to close at 24,334.55. The session was characterized by a range-bound movement with a negative bias for most of the session before the recovery. Nifty's top gainers included Adani Enterprises, Max Healthcare and Apollo Hospitals, while HDFC Life, Cipla and ONGC were among the top losers. The Nifty Bank index closed 11.75 points, or 0.02 per cent, lower at 57,514.20.
