The BSE Sensex gained 254.03 points to close at 51,279.51 on March 10 while the Nifty50 rose 76.40 points to 15,174.80 and formed a small bearish candle on the daily charts as the closing was lower than opening levels.
According to pivot charts, the key support levels for the Nifty are placed at 15,110.9, followed by 15,047. If the index moves up, the key resistance levels to watch out for are 15,228.6 and 15,282.4.
The S&P 500 and the Dow indices hit all-time highs on March 11 as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims reinforced expectations of a labour market recovery.
The Dow Jones Industrial Average rose 188.57 points, or 0.58%, to 32,485.59, the S&P 500 gained 40.53 points, or 1.04%, to 3,939.34 and the Nasdaq Composite added 329.84 points, or 2.52%, to 13,398.67.
Asian stocks set for a strong start on March 12, following firm overnight leads from Wall Street and Europe as a further retreat in bond yields eased concerns about rampant inflation, restoring appetite for battered tech stocks.
Japan’s Nikkei 225 futures added 0.62% and Hong Kong’s Hang Seng index futures rose 0.55%. E-mini futures for the S&P 500 rose 0.99%. Australian S&P/ASX 200 futures rose 0.55% in early trading.
Trends on SGX Nifty indicate a positive opening for the index in India against March 10 close of 15,209. The Nifty futures were trading at 15,406 on the Singaporean Exchange around 07:30 hours IST.