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Domestic benchmarks traded higher in early deals on Thursday after two straight sessions of losses, helped by gains in technology and bank stocks and a sharp fall in global oil prices.
The NSE Nifty 50 index was up 0.67 per cent at 17,741.95, while the S&P BSE Sensex rose 0.7 per cent to 59,444.95 in early trade.
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Day Trading Guide for September 08, 2022
Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.Asian stocks also gained, tracking a rally in US equities overnight, while oil prices tumbled to over seven-month lows on demand concerns following downbeat Chinese trade data.
India, the world's third-largest importer of oil, benefits from a fall in prices as it brings down imported inflation.
The Nifty IT index and the public sector bank index rose 1.3 per cent and 1.2 per cent, respectively.
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