Indian stock market opened at a higher level amid positive global signals, know the condition of Sensex and Nifty.

Mumbai, 19 December. Major benchmarks of the Indian stock market opened higher on Friday, the last trading day of the week, amid positive global cues. During this period, Nifty remained above 25,900, while Sensex saw a gain of more than 350 points. Till the time of writing the news in early trade, the 30-share Sensex was seen trading above 84,900 with a spectacular rise of 434 points or 0.51 percent. While Nifty was seen trading at 25,942.30 with a gain of 126.75 (0.49 percent) points.

In the early trading session, all Nifty indices were seen trading in the green, with Nifty Healthcare index on top with a gain of 1.14 percent. Apart from this, Nifty Pharma (up 1.1 percent), Nifty Auto (up 0.57 percent), Nifty IT (up 0.42 percent), Nifty Bank (up 0.27 percent) and Nifty FMCG (up 0.18 percent) were also among the profit making sectors.

In the broader market, the Nifty Midcap index rose 0.45 per cent, while the Smallcap index rose 0.47 per cent. In Nifty50, Tata Motors Passenger Vehicles (TMPV), Max Healthcare, BEL, Eternal and Infosys were among the top gainers, while shares of Shriram Finance, Nestle India, HDFC Life were seen in loss.

Vikram Cassat, Head Advisor, PL Capital, said that inflation seems to be decreasing in America, which is good news for the investors there. In November, CPI (inflation rate) stood at 2.7 percent on an annual basis, while economists had expected it to be 3.1 percent. Core CPI, which excludes food and energy prices, stood at 2.6 percent, much lower than expected.

He further said that after this news, there was a rise in the American stock market, because this may give scope to the Federal Reserve to further cut interest rates to handle the slowing economy. According to the CME FedWatch tool, the probability of an interest rate cut in January has now increased to more than 25 percent.

According to Pivot Analysis, the level of 25,750 is a strong support for Nifty, while resistance can be seen around 25,885. On the last trading day, Thursday, the domestic market closed almost flat. At the end of the day, Sensex was down by 77.84 points or 0.09 per cent at 84,481.81 and Nifty was at 25,815.55 with a marginal weakness of 3 points.