Singapore trading sets stage for positive start
Nifty futures on the Singapore Stock Exchange were trading 25 points, or 0.24 per cent, higher at 10,493, indicating a positive start for the Nifty50 on Dalal Street.
Nifty forms bullish candle on daily chart
Nifty50 on Thursday climbed for the fifth consecutive trading session to settle the day above its 50-day moving average, forming a bullish candle on the daily chart. The index made higher high higher low pattern for ninth consecutive session, suggesting a positive bias for the market. Besides, technical indicators and oscillators generated buy signals, with MACD line closing above its equilibrium line, triggering a fresh buy signal.
Sensex can hit 41,500 in bull case: MS
Indian markets are likely to outperform their emerging market peers, said Morgan Stanley in a report. Morgan Stanleys base case (50 per cent probability) and bear case (20 per cent probability) targets for the Sensex by December 2018 stands at 35,700 and 25,000, respectively. The bull case (30% probability) for the Sensex stands at 41,500.
F&O data hints at further upside
Chandan Taparia of Motilal Oswal Securities said that significant Put writing at 10400 and 10,300 strike has been observed, which the index's shifting its support to higher side while Call unwinding is seen at all immediate strike prices which is giving a scope for further upside in the market.
Asian shares drop in early trade
Global stocks recovered to three-week highs on Friday as anticipated strong earnings season took centre stage after US President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan's Nikkei gained 0.8 per cent. MSCI's broadest gauge of the world's stock markets also edged up 0.1 per cent after hitting a three-week high on Thursday.
US stocks settle higher
US stocks settled higher in overnight trade. The S&P 500 index gained 21.80 points, or 0.8 percent, to 2,663.99. The Dow Jones industrial average added 293.60 points, or 1.2 percent, to 24,483.05. The Nasdaq composite climbed 71.22 points, or 1 percent, to 7,140.25.
Infosys Q4 results today
Analysts said they do not see a major move in the stock on either side on the results outcome, which is reflected in the low implied volatility. The results, which are due after market hours on Friday, will influence the stock movement on Friday. Analysts said the low implied volatility suggests confidence on likely lower volatility this time around.</span></span>
IIP, CPI give economy double boost
Industrial output as measured by the index of industrial production (IIP) rose 7.1 per cent in February while the consumer price index (CPI) showed retail inflation at 4.28 per cent in March, the fourth successive month of decline. IIP growth was 7.4 per cent in January while consumer inflation stood at 4.44 per cent in February.
FPIs buy Rs 369 cr worth of equities
Foreign portfolio investors (FPIs) bought Rs 368.90 crore worth of domestic stocks on Thursday, provisional data available with BSE suggested. DIIs were net sellers to the tune of Rs 615.81 crore, data suggested.
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