Ahead of Market: 10 things that will decide D-Street action on Friday
The NSE Nifty 50 settled 0.22% higher at 23,567, while the S&P BSE Sensex added 0.18% to 77,479.
Here's how analysts the market pulse:
«The market consolidated within a range, with the index stuck between 23,400 and 23,650. The undertone remains bullish as long as the index sustains above the 23,400 support, where aggressive put writing is visible. Surpassing the 23,650 mark will open further room towards the 23,800/24,000 levels,» said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Tejas Shah of JM Financial & BlinkX, said, «Support for the Nifty is now seen at 23,500 and 23,300-350 levels. On the higher side, the immediate resistance zone is at 23,600-625 levels and the next resistance zone is at 23,750-800 levels.»
That said, here’s a look at what some key indicators are suggesting for Friday's action:
US market
The benchmark S&P 500 touched a record high on Thursday, boosted by strong gains in Nvidia, while investors assessed the recent economic data and commentary from Federal Reserve officials to gauge the timing for interest rate cuts this year.
At 9:51 a.m. ET, the Dow Jones Industrial Average was up 109.08 points, or 0.28%, at 38,943.94, the S&P 500 was up 29.81 points, or 0.54%, at 5,503.04, and the Nasdaq Composite was up 52.21 points, or 0.29%, at 17,914.44.
European shares
European shares gained on Thursday, boosted by an advance in technology and real estate stocks, while Swiss equities gained after the central bank continued to loosen monetary policy.
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