Nifty futures on Singaporean Exchange had been trading 40 points or .25 per cent larger at 14,837.50, suggesting a positive opening for BSE Sensex and Nifty 50 on Friday. In the prior session, 30-share Sensex ended at 48,949 even though the Nifty 50 index settled at 14,725. Global peers had been trading in green in early trade on Friday. India reported a record 4.14 lakh new infections and 3,920 deaths on Thursday, according to Worldometer. Investors will track Jan-Mar quarter final results, stock-particular developments, oil rates, rupee movement and other international cues.
Global markets: Asian stock markets had been trading larger on Friday. Japan’s Nikkei 225 rose .33 per cent even though the Topix index added .56 per cent. In South Korea, the Kospi extended gains to trade up .75 per cent. In overnight trade on Wall Street, Dow Jones Industrial ended at a record higher. The Dow Jones Industrial Average rose .93 per cent, even though the S&P 500 gained .82 per cent. The Nasdaq Composite climbed .37 per cent.
Results today: As numerous as 25 BSE-listed firms such as Housing Development Finance Corporation, Dabur India, Kansai Nerolac Paints, Cholamandalam Investment, Navin Fluorine, EIH and Godrej Agrovet, will announce their January-March quarter earnings on May 7.
FIIs, DIIs information: On Thursday, foreign institutional investors (FIIs) purchased shares worth Rs 1,222.58 crore, even though domestic institutional investors (DIIs) offloaded shares worth Rs 632.51 crore on a net basis in the Indian equity industry.
Chart reading: The underlying trend of Nifty continues to be positive with variety bound action. “A sustainable move above 14725 is likely to result further strengthening of upside momentum and that is likely to pull the market towards 14900-15000 levels again in the near term. Immediate support is placed at 14610,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
India’s development forecasts reduce: Amid the second coronavirus wave, rating agencies have began trimming their development forecasts for India. The International Monetary Fund stated on Thursday the current jump in COVID-19 situations in India posed downside dangers to the Fund’s April forecast for 12.5% development in India’s financial output in fiscal years 2021 and 2022. While, Credit Suisse has sharply lowered its actual GDP development forecast for this fiscal year to about 8.5-9 per cent, citing financial disruptions in the nation due to the raging second wave that is most likely to shave one hundred-150 bps development off the economy.