It is an unusual trading day on Saturday for investors with a special live session being conducted to assess the disaster recovery system. Analysts expect the ongoing momentum to continue going forward.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
Gift Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 60.50 points or 0.27% at 22,511.00, signalling that Dalal Street was headed for a positive start on Saturday.Tech View: Nifty closed above the crucial resistance zone of 22,250-300 levels on a weekly closing basis and we believe that as long as Nifty is holding above the 22,000 mark, the rally is likely to continue and it can test the next resistance zone of 22,450-500 on an immediate basis and eventually Nifty can test the level of 22,700 on the higher side.India VIX: India VIX, which is a measure of the fear in the markets, fell 2.17% to settle at 15.24 levels.
Asian Shares Gain
Asian markets were largely higher on Friday following Wall Street gains driven by tech rallies and key US inflation data that met investors’ expectations.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2%, although it was still set for a weekly loss to 0.4%.
Japan’s Nikkei 225 gained 1.9% at 39,910.82
Australia’s ASX 200 closed 0.6% higher at 7,745.6 points. It gained 1.3% for the week, marking its best week since the beginning of February.
DJ New Zealand gained 0.4% to end at 371.53.
South Korea’s Kospi shed 0.37%
Shanghai – Composite gained 0.4% at 3,027.02
Hong Kong’s Hang Seng gained 0.5% to 16,588.00
US stocks gain
U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields.
The gains marked the second straight closing record for the Nasdaq, which also set an intraday record as AI-related names such as Nvidia and Meta Platforms led it past its prior peak of 16,212.23 set in November 2021.
Dollar falls
The dollar fell against the euro on Friday on weaker than expected U.S. economic data but gained against the Japanese yen after Bank of Japan (BOJ) governor Kazuo Ueda said it was too soon to declare victory on inflation.
Oil rises
Oil prices rose on Friday and were set for weekly gains as markets awaited an OPEC+ decision on supply agreements for the second quarter while also weighing fresh U.S., European and Chinese economic data.
Brent futures for May were up $2.24, or 2.73%, at $84.15 a barrel by 12:08 p.m. EST (1334 GMT). The April Brent futures contract expired on Feb. 29 at $83.62 a barrel.
Stocks in F&O ban today
1) ZEE
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit
FII/DII action
Foreign portfolio investors were net buyers at Rs 128 crore on Friday. Domestic institutional investors too bought shares worth Rs 3,814 crore.
Rupee
The rupee declined 2 paise to close at 82.91 against the US dollar on Friday amid rising crude oil prices in the overseas market and increased demand for the American currency from importers.
FII data
The net short of FIIs increased from Rs 58,968 crore on Thursday to Rs 62,761 crore on Friday.
