Stock Market LIVE Updates: GIFT Nifty suggests a flat start; US markets mixed, Asia trade lower

Sensex and Nifty 50, the benchmark indices of India have the tendency to open on a tepid note, tracking mixed global cues.

The Gift nifty trend is indicating a flat beginning for the Indian benchmark index. According to live market updates, the Gift Nifty was trading near the level of 24,540, a discount of about 7 points from the previous close of the Nifty Futures.

On Tuesday, the domestic equity benchmark indices concluded with sharp gains, continuing the rally for three consecutive sessions.

As per the latest Sensex updates, The Sensex share price surged 0.74% or 597.67 points, to end at 80,845.75, and the Nifty 50 managed 0.75% or 181.10 points, higher at 24,457.15.

Nifty 50 daily chart showed a reasonable bull candle, showing that the index is at the edge of breaking above the crucial barrier around 24,350- 24, 500 levels, the previous swing highs.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, ‘The current breakout may indicate a potential negation of the bearish pattern of the previous couple of months, according to the daily timeframe chart. Therefore, the current swing low at 23,873 can be a new higher bottom. The market latest updates indicate that the bullish pattern on the chart may unfold from here, resulting in more upsides for the stock market ahead.

Commodity market updates show as the dollar strengthens and gold slips, investors waiting for U.S. data. Following China Data, Oil inches up, hoping for higher demand due to increased factory output in China.