The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,303 level, a premium of nearly 31 points from the Nifty futures’ previous close.

At around 9.26 am, Sensex was trading at 76,758.37 after rising 258.74 points or 0.34 per cent, while Nifty was trading at 23,225.50 after climbing 49.45 points or 0.21 per cent. On the National Stock Exchange (NSE), 1,263 stocks were trading in green, while 289 stocks were in red.

The stock market is poised for a positive opening today, driven by gains in the GIFT Nifty index during early trading hours. As of 8:15 AM, GIFT Nifty futures were trading at 23,268, with a marginal decline of 0.

Nifty 50 outlook remains weak and the markets will consolidate in a range with stock specific action on the back of Q3 result announcements, analysts said.

The gains were led by Reliance Industries Ltd, Maruti Suzuki India Ltd, Larsen & Toubro and Zomato Ltd. The BSE Sensex rose 248.07 points or 0.32 per cent to 76,747.70. Nifty stood at 23,231.40, up 55.

The performance comes ahead of the Budget 2025 announcement, with Q3 earnings, foreign investors flow and global trends emerging as key triggers currently. On January 14, 2025, the market is open despite the public holiday in many states due to the celebration of Makar Sankranti 2025.

The stock market continued its rise into the green upon opening led by mid and small cap IT, telecom, financial services, and energy stocks.

Resistances for the benchmark Nifty-50 index is seen at 23,340 and 23,500, while on the downside 23,047 becomes the base for the short term, said analysts.

Indian benchmark indices Nifty and Sensex ended on Tuesday with modest gains, breaking a four-day losing streak, as a strong rally in banking, metal, and energy stocks lifted sentiment. However, a selloff in IT and FMCG stocks kept investors cautious.

In an attempt to regain control, Bulls pushed the Sensex up by 169.62 points, or 0.22%, to 76,499.63. Likewise, Nifty 50 jumped 90.10 points, or 0.39%, to settle at 23,176.05.