Indian Markets opened strong on Thursday with NSE Nifty trading comfortably above 25,000 levels. Markets have witnessed a strong 1000 point rally for NSE Nifty during the last few weeks. The rally has been witnessed even in mid-cap stocks in the recent days. Majority of blue-chip companies are trading near their 52-week or all-time highs.

US Federal Reserve kept the interest rates at the same level in its policy meeting yesterday. However, markets were positive as Fed Chairman Powell indicated that interest rate cut could be on the table in the September meeting if inflation numbers remain low.

Global markets have witnessed a strong rally despite geo-political troubles in the Middle-East. Gold and Crude Oil prices were higher on Wednesday as news came about Israel’s offensive against Hamas leader in Iran.

We could see Indian markets trading firm for today’s session with majority of stocks above their 200-day SMA. Indian markets have offered good returns to medium and long term investors. A healthy correction would be much appreciated at this stage but every correction has been followed by increased buying during the last few months.

Technology major Infosys Technologies has received GST pre-show cause notice for alleged tax evasion of Rs 32,403 crore. The company has denied any wrong-doing but the stock was trading lower by one percent in today’s session. Other companies in technology sector were also trading weak today.