The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,405 level, a premium of nearly 140 points from the Nifty futures’ previous close.

The market is expected to be under intense pressure with strong headwinds. Brent crude is above $81 per barrel, while sharper than expected surge in US jobs data coupled with consistent FIIs selling and Q3 earnings have taken a toll on the market.

Benchmark indices Nifty and Sensex started on Thursday on a positive note, recording their third consecutive day of gains. Investor sentiment was lifted by December's cooler-than-expected US inflation data,

Nifty 50 outlook remains weak and the markets will consolidate in a range with stock specific action on the back of Q3 result announcements, analysts said.

The stock market seems to be continuing its rally for the third consecutive day by opening in the green on Thursday.

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,

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