MARKET VIEW
GLOBAL MARKETS
US market indices closed higher on Thursday, Dow Jones rose 345.09 points, or 1.05 percent, to 33,221.
S&P 500 gained 66.06 points, or 1.75 percent, at 3,849.
Nasdaq Composite added 264.80 points, or 2.59 percent, at 10,478.
Asian markets are trading mostly higher in the early trade on Friday with Taiwan Weighted up 0.8 percent, while Nikkei and Straits Times up by 0.3 and 0.07%.
Oil prices fell for a second straight session, Brent crude fell by 0.16% and now trading at 83.47$ per barrel.
INDIAN MARKETS
Sensex reclaimed 61,000, rising 224 points to 61,134, while the Nifty50 gained 69 points at 18,191 and formed a long bullish candle on the daily charts, continuing bullish candle formation for fourth straight session. Banknifty gained 425 points or 1% up and closed at 43252.
The sectors which outperformed were Metals, PSU & PVT Banks and sectors that underperfomed were Media & FMCG.
Foreign institutional investors (FIIs) have net offloaded shares worth Rs 572.78 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 515.83 crore.
TODAY’S VIEW
The market is expected to open in the green as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 61 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,047, followed by 17,991 and 17,901. If the index moves up, the key resistance levels to watch out for are 18,228 followed by 18,284 and 18,375.