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Below is the Daily Markets Quote on Today`s Market Performance by Mr. Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

In light of favorable global cues, Indian benchmark equity indices recouped most of yesterday's losses.  At the close Nifty was up by 193 points or 1.35% to close at 14518.  After opening with a gap, Nifty remained range-bound through the day, though intraday dips found buyers on every occasion.

Buying was witnessed across the board, as advancing shares on NSE outnumbered declining shares. 

Volumes on the NSE were on a lighter side – as many traders chose to keep their positions light ahead of holiday-shortened week. Indian markets are closed next week on Monday to celebrate the festival of Holy and on Friday on account of “Good Friday”.

Shares in Asia's emerging markets gained on Friday on hopes of an economic recovery. MSCI's ex-Japan Asia index rose 1.5% after hitting a near three-month low on Thursday. The Shanghai Composite Index gained 1.5, snapping a three-day losing streak.

European stocks hit one-week highs on Friday, with economy-linked sectors such as miners and autos leading the way as investors balanced worries about surging coronavirus cases with the prospect of a strong U.S. economic recovery.

Although Nifty has recovered sharply on Friday, it has failed to close above an important previous bottom level of 14529.  Traders will watch these levels closely next week. If nifty fails to trade convincingly above 14550 mark, that will confirm a lower bottom on weekly charts and portend further weakness in times to come.

Nifty is facing stiff resistance around 14800-14700 zone and convincing move beyond this resistance zone would open further upside. On the dips, 14250 levels could offer support to the market.

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