The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,405 level, a premium of nearly 140 points from the Nifty futures’ previous close.

Indian benchmark indices rose for a third straight session on Thursday, driven by gains in financial heavyweights and Reliance Industries. Eased U.S. inflation in December boosted hopes of further rate cuts by the U.

The market is expected to be under intense pressure with strong headwinds. Brent crude is above $81 per barrel, while sharper than expected surge in US jobs data coupled with consistent FIIs selling and Q3 earnings have taken a toll on the market.

For the benchmark Nifty 50 Index 23260 would be the key level to watch out for and above the same market could bounce back till 23350-23400, said experts

In another rangebound session, the Indian market closed on a positive note, extending its winning streak for the third consecutive day on Thursday, driven by positive cues such as the Gaza ceasefire deal,

The BSE Sensex rose 318.74 points, or 0.42%, to 77,042.82. Likewise, Nifty 50 gained 98.60 points, or 0.42%, to 23,311.80.

The Nifty 50 ended the session with a gain of 0.16% at 23,213, while the Sensex closed at 76,724 marking a 0.29% increase from the previous close. The Nifty Smallcap 100 index rose by 0.56% to 17,353,

The stock market seems to be continuing its rally for the third consecutive day by opening in the green on Thursday.