Nifty futures closed positive at 15,821, up 0.44%. Among specific stocks, SAIL, Aurobindo Pharma NSE 4.75%, Tata Steel, Coal India, Jindal Steel, Ashok Leyland NSE 3.94%, JSW Steel, MGL, Dr. Reddy’s, Glenmark, Cadila Healthcare NSE 2.20%, TCS saw trading setup bullish Gone. and Infosys but weaker in Concor, Canara Bank, UltraTech Cement NSE -0.70%, Voltas, and L&T.
During the opening tick on Friday, Nifty opened with a gap up and made a new lifetime high of 15,835. However, it remained confined for the most part of the session and closed with a lead of 60 points.
India VIX fell 5.98 percent from 15 to 14.10 levels. India VIX is gradually falling to its lowest level in the last 17 months since February 2020. A falling VIX may keep the market in line with the buy-on-decline strategy.
Bank Nifty opened positive but moved southwards for the first half of the session. The market witnessed volatility in the latter half of the day and the index finally closed with a fall of around 80 points. It formed a bearish candle on both the daily and weekly levels as supply pressure emerged higher. Now the index needs to stay above the 35,000 level to see a bounce above the 35,500 and 35,750 levels, while downside support is present at the 34,750 and 34,500 levels.
The Nikkei stock average ended 0.03 percent lower at 28,948.73, while the broader top’s was down 0.14 percent at 1,954.02. For the week, the Nikkei traded in a narrow range with a slight gain of 0.02 percent.
The Euro STOXX 600 added 0.3 percent to hit a record high and was on course for a sixth straight day of gains. Shares in London rose 0.6 percent, led by a gain of 1 percent for the mining sector, while Paris climbed 0.4 percent.
Also boosting sentiment in Europe, the European Central Bank was raising its growth and inflation forecasts on Thursday, while promising a steady flow of stimulus for now.