The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking a rally in global markets.The trends on Gift Nifty also indicate a positive start for the Indian benchmark index.

The Nifty moved within a range and ended higher for the second consecutive day on Wednesday. Experts believe that the US CPI and retail sales data, along with the ongoing Q3 earnings reports, will be the main factors influencing the market in the short term.

Reliance Industries Ltd., HDFC Bank Ltd., Maruti Suzuki Ltd., Kotak Mahindra Bank Ltd., Larsen & Toubro added to the Nifty 50 index.

For the benchmark Nifty 50 Index 23260 would be the key level to watch out for and above the same market could bounce back till 23350-23400, said experts

Indian benchmark indices ended trading on Wednesday in the positive territory after beginngint the session on a higher. The BSE Sensex settled for the day at 76,724, climbing more than 200 points, while the NSE Nifty50 ended trading above the 23,

The Nifty 50 ended the session with a gain of 0.35% at 23,167, while the Sensex closed at 76,500 marking a 0.22% increase from the previous close. Likewise, the Nifty Smallcap 100 index rose by 1.97% and the Nifty Midcap 100 index concluded the day with a gain of 2.

The gains were led by Reliance Industries Ltd, Maruti Suzuki India Ltd, Larsen & Toubro and Zomato Ltd. The BSE Sensex rose 248.07 points or 0.32 per cent to 76,747.70. Nifty stood at 23,231.40, up 55.

The stock markets started trading on Wednesday in the positive territory following a firm trend seen in the Asian indices. The BSE Sensex rallied a little over 400 points to cross 76,900 in early trade,

The stock market continued its rise into the green upon opening led by mid and small cap IT, telecom, financial services, and energy stocks.