market today: BSE Sensex and Nifty50 resumed surged in trade on Friday after three continuous days of decline this week. While BSE Sensex surged over 650 points, Nifty5 crossed the 21,600 level. At 9:28 AM, BSE Sensex was trading at 71,837.84, up over 650 points or 0.91%. Nifty50 was up over 190 points or 0.91% at 21,656.50
The stock market surge comes after the benchmark indices continued their decline on Thursday due to selling pressure in HDFC Bank and weak global cues. Today, Nifty heavyweights such as Reliance, HUL, and Ultratech will be announcing their results, which could have an impact on the index.
According to an ET report quoting Siddhartha Khemka, Head of Retail Research at Motilal Oswal, the market is expected to consolidate within a limited range amid a global uncertain environment.
There is a possibility of a short-term pullback rally, which is expected to be a sell-on-rise opportunity. Important resistance levels to watch are at 21,700-21,800, while lower support levels are placed at 21,200-21,000, as per Nagaraj Shetti of HDFC Securities.
US stocks ended the day with significant gains, with the S&P 500 approaching record highs. This was driven by optimism in the AI sector, particularly in Nvidia and other chipmakers. The S&P 500 was up 0.88 percent, Nasdaq rose 1.35 percent, and Dow gained 0.54 percent