Indian markets extended their winning streak for the third consecutive session on January 16, buoyed by lower-than-expected US CPI numbers and strong earnings from major financial institutions, along with a ceasefire agreement between Israel and Hamas.

Benchmark indices Sensex and Nifty bounced back on Tuesday after four days of sharp decline on easing retail inflation and a rebound in global markets

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,