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Market Opening View

Nifty is likely to open on a gap-up note — GIFT Nifty at 26,150 (7:30 AM).
On Wednesday, the index opened flat but closed above 26,050, marking its highest close of the month. The rally was driven by IT and Financials, supported by renewed optimism around a potential India–US trade agreement after positive remarks from the commerce minister.

IT stocks gained ahead of Nvidia’s results and on expectations of a Fed rate cut, aided by soft U.S. labour data and currency tailwinds. Four of the top five Nifty gainers were from the IT pack. While IT and Banks led the rally, Oil & Gas and Realty saw mild pressure.

Nifty formed a bullish candlestick pattern on the daily chart, and buying momentum is expected to continue.
India VIX has closed near 12, signalling a likely uptick in short-term volatility.
The short-term trend remains bullish, turning bearish only below 25,720, with the 9-day SMA placed at 25,822.5.

Global Setup

U.S. markets remained choppy but closed mostly higher on Wednesday. Initial gains came from bargain-hunting after the recent sharp declines that pushed indices to one-month lows amid concerns of an AI-led bubble.

Nvidia recovered 2.9% ahead of its earnings release.

* Dow Jones gained 47 points

* S&P 500 added 24 points

Investors await key macro triggers including UK & European CPI data today and crucial U.S. jobs data tomorrow. Global sentiment remains cautious with focus on Nvidia’s AI outlook.

Key Corporate & Economy Updates

* Varun Beverages incorporates a wholly-owned Kenya subsidiary; snacks facility in Morocco ramps up to full-scale operations.
* L&T and BAE Systems secure licensed manufacturing order from the Indian Army for the BvS10 Sindhu platform.
* JK Tyre to sell 40 lakh shares of Cavendish Industries for Rs.130.64 crore; CIL continues as a subsidiary.
* Reliance Power approves formation of a new Board of Management to strengthen governance and strategic oversight.
* NBCC secures a PMC contract worth Rs.2,966 crore for development of Naveen Nagpur under NMRDA.
* HG Infra wins a Rs.274 crore order for access road network works at DLF Downtown Phase-2, Gurugram.

FundsIndia View

FII Positioning

* Futures: FIIs added 27 long contracts and reduced 1,191 short contracts — net bullish by 1,218 contracts.
* Options: Net bullish by 1,10,323 contracts. Highest Put OI at 26,000 and highest Call OI at 26,200.

Bullish Stocks (OI-based)

Max Healthcare, HCL Tech, Coforge, Persistent, 360 One WAM, Sona Comstar, LTIMindtree, Infosys, Bharat Forge, Motherson.

Bearish Stocks

Sammaan Capital, Tata Motors PV, HUDCO, Biocon, JSW Energy, APL Apollo, ICICI Prudential Life, Adani Energy Solutions, Laurus Labs, Havells.

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