Indian stock markets opened marginally higher on Thursday, a day after being closed for the Christmas holiday.

Market experts expect the indices to consolidate within a narrow range for the rest of the year, as the lack of major positive or negative triggers limits market movement

As markets in India and around the world reopen after the Christmas holiday, investors here are looking to ride the so-called Santa Clause rally driving Wall Street higher

The stock markets will remain closed on December 25 for Christmas. On Tuesday, investors showed caution leading to minor declines in BSE Sensex and Nifty50 amidst foreign fund outflows.

The S&P BSE Sensex added 18.18 points to close at 78,491.05, while the NSE Nifty50 was up 22.55 points to end the day at 23,750.20.

Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Tuesday. While BSE Sensex was above 78,500, Nifty50 was above 23,750.

Market experts advise caution amid global trends and FII selling pressure, with Nifty consolidating around 23,900-23,600 range.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,800 level, a premium of nearly 30 points from the Nifty futures’ previous close.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the red. Nifty 50 closed at 23,727.65, while Sensex ended at 78,472.87. Asian stocks gained in early trade today. Today is also the last Nifty 50 expiry of 2024.