Bullish sentiment lifts stock market

The day commenced on a positive note for the stock market, witnessing an upsurge in indices as trading commenced in the green territory. Nifty's opening, affected by the recent US holiday and a truncated trading day, displayed resilience in a narrow range trade yesterday, closing marginally down but maintaining its stance above the critical 19800 mark.

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The Sensex initiated with a surge of 54.58 points at 66,051.66, while Nifty gained 20.90 points, opening at 19,820.75. Among the Nifty companies, 28 experienced advances, while 22 saw declines.

Varun Aggarwal, Founder of Profit Idea, conveyed a positive medium-term outlook for the Indian economy. He identified short-term support at 19276 and a major support level at 18837 for Nifty. Aggarwal highlighted Nifty's shift into a broader range of 20000-19500 levels, setting a medium-term target between 20466-21234-21410.