Sensex gains over 200 points in early trade
Business
Indian markets opened higher on Thursday after a sharp drop yesterday—the Nifty had a 1.5% cut.
Volatility declined nearly 10%
Tensions in the Middle East (mainly US-Israel-Iran) have sent oil prices soaring and made investors nervous.
Volatility, as measured by the India Vix, declined nearly 10% to 19.04, but interestingly, while foreign investors pulled out ₹8,752 crore, domestic investors stepped up and bought shares worth ₹12,068 crore.
Nifty's key support and resistance
While Middle East conflicts have disrupted energy supplies and fueled worries of a drawn-out crisis, Wall Street and some Asian markets rallied yesterday—which could help cushion Indian losses.
For traders: Nifty's key support is around 24,370-24,450; resistance sits near 24,625-24,840.