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Amid mixed global cues and volatile trading activity, the Indian stock market ended Friday’s session on a mildly positive note. The Nifty 50 index advanced 64 points to close at 23,719, while the BSE Sensex gained 231 points to settle at 75,415. Meanwhile, Bank Nifty outperformed the broader market, rallying 615 points to finish at 54,055.

Sector-wise participation remained selective, with banking, financial and metal stocks leading the recovery. However, pharma and IT counters witnessed relatively subdued activity. Broader markets also remained largely range-bound, as both midcap and smallcap indices ended almost flat, reflecting cautious undertone in overall market breadth.

What does Gift Nifty indicate?

Gift Nifty is signalling a strong gap-up opening for Dalal Street on Monday. The index is currently trading near the 24,000 mark, almost 300 points above Friday’s Nifty spot close, indicating improved global sentiment and strong overnight buying interest.

Market Outlook Today

According to market experts, the positive Gift Nifty trend suggests that Nifty may attempt to reclaim the crucial 24,000 zone in early trade. Sustaining above this level could further strengthen bullish momentum and open the path toward the important 24,300 resistance band in the coming sessions.

Technically, the 24,000 zone also coincides with the crucial 50-DEMA hurdle, making it a decisive level for short-term trend confirmation. On the downside, strong support for the Nifty is placed near the 23,200 zone, which is expected to act as an important cushion for the market.

Bank Nifty Outlook

Bank Nifty displayed strong recovery momentum during the previous session, witnessing aggressive buying from lower levels near the 53,500 zone. Frontline banking counters including ICICI Bank and Axis Bank showed notable improvement in technical bias, supporting the overall strength in the banking index.

Analysts believe Bank Nifty now faces an important hurdle near the 55,300 zone, which coincides with the 50-DEMA resistance. A decisive breakout above this level may trigger fresh upside momentum toward the 56,400 mark in the coming days.

Overall, traders are expected to closely monitor the sustainability of the gap-up opening, as global sentiment, crude oil movement and institutional activity are likely to remain key market drivers in the near term.