The Indian equity benchmark indices, Sensex and Nifty 50, are expected to extend rally and open higher on Friday tracking positive momentum in global peers.
Asian markets traded higher, while US stock market indices ended overnight with minor gains as Treasury yields dropped.
On Thursday, the Indian stock market indices extended the rally with the Sensex crossing above 79,000 level and the Nifty 50 surpassing 24,000-mark for the first time.
The Sensex jjumped 568.93 points, or 0.72%, to close at 79,243.18, while the Nifty 50 settled 175.70 points, or 0.74%, higher at 24,044.50.
“The up move in the markets has been gradual so far (except for the last 4 days) as participants are wary of the high valuations. They are also afraid of a sharp bout of profit taking which has not happened so far. Q1FY25 numbers are also not expected to be great due to election related disruption. Though the breadth of the markets is negative, we expect it to soon improve if the markets sustain at record high levels,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
Sebi Board Decisions
Securities & Exchange Board of India (SEBI) at its board meeting approved a new criteria for a single stock F&O entry and exit, voluntary delisting norms and flexibility on the same, norms on finfluencers, measures to ease of doing business for REITs and InvITs and many other decisions.
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