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 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.

Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Thursday. While BSE Sensex rose 450 points, Nifty50 was above 23,300.

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.