In the three days of gains, Sensex has rebounded 484.64 points while Nifty advanced by 133.85 points.
Sectorally, bank, financial services, media and consumer durables packs ended in the green, while FMCG and Oil and Gas saw the maximum cuts.
Here's how analysts read the market pulse:
«Global markets have restrained from making significant moves as they await the outcome of the central bankers' gathering at Jackson Hole scheduled for Friday. With the earnings season nearing its end, the heightened possibility of another rate hike in the US, along with the resultant increase in bond yields, are expected to keep the global market’s volatility high.
On the domestic front, sentiments remained positive, backed by strong demand in the banking sector, though IT and pharma limited the gains,” Vinod Nair, Head of Research at Geojit Financial Services, said.
“Technically, Nifty has formed Doji candles for the second straight day. ADX and MACD are still inclined on the negative side.
New long positions must be taken cautiously unless 19560 is taken out. In the daily chart, Index remained beneath the middle line of Donchain channel.
Index may find support around the 17250 levels,” Om Mehra, Equity Research Analyst, Choice Broking, said.
That said, here’s a look at what some key indicators are suggesting for Thursday's action:
US market
Wall Street's main indexes rose on Wednesday, ahead of Nvidia results that investors hope would reignite an artificial intelligence-powered rally in megacap growth stocks.
Rising bets that Nvidia's revenue target will surpass Wall Street estimates pushed the chipmaker's stock to a record high on Tuesday. But analysts equally fear a wider selloff if the company fails to match investor expectations.
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