Bullish Sentiment to the Fore

After a sluggish and choppy start to the week, market participants eagerly awaited the muchanticipated breakout on the NSE benchmark Nifty 50 index, aiming for a move above the 22,500-22,530 level. As is characteristic of stock markets, the unexpected unfolded delightfully for D-Street participants as Thursday commenced with a gap-up opening above the formidable resistance level. This surge led to a fresh all-time high, buoyed by positive global cues. The positive sentiment in the global markets could be attributed to Federal Reserve’s Chair Jerome Powell’s reassuring comments during a press conference.