- Markets are likely to open in green on Friday.
- The rupee opened 28 paise stronger at 95.40 against the US dollar, compared to Thursday's close of 95.68 a dollar.
- Global cues have also turned favourable, with Wall Street staging a strong rebound after robust earnings from Microsoft.
- The positive momentum has carried into Asian markets, with technology-driven buying supporting regional indices.
- The near-term outlook remains mildly positive as long as the Nifty sustains above the 24,150-24,000 support zone.
Positive market sentiment is reflected in the recent performance of the Sensex and Nifty indices, which have shown gains amid a strengthening rupee and favorable global cues. The rupee opened 28 paise stronger at 95.40 against the US dollar, compared to Thursday's close of 95.68 a dollar.
The Nifty 50 extended its recovery for a second consecutive session on Thursday, gaining 66.95 points to close at 24,317.15. This positive momentum has been supported by a rebound in global markets, particularly Wall Street, which saw a strong recovery driven by robust earnings from Microsoft. This fueled optimism around AI-led technology spending, lifting the Nasdaq by 2.8%, while the S&P 500 and Dow Jones also posted healthy gains.
The favorable global cues have translated into positive sentiment in Asian markets, with technology-driven buying supporting regional indices. Analysts suggest that the near-term outlook remains mildly positive, indicating that as long as the Nifty sustains above the 24,150-24,000 support zone, the undertone is likely to remain constructive.
“The rupee opened 28 paise stronger at 95.40 against the US dollar, indicating a favorable currency trend. Additionally, the near-term outlook remains mildly positive as long as the Nifty sustains above the 24,150-24,000 support zone, suggesting potential for further gains.”
