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Below the Quote On Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd

Oil climbed on Friday, poised for a weekly increase, buoyed by recent data from the U.S. and China, the world's top two consumers of crude, indicating heightened demand. Moreover, persistent uncertainty surrounding the Gaza conflict lent support to prices. In the U.S., jobless claims unexpectedly surged to 231K, surpassing earlier projections. Meanwhile, India's foreign exchange reserves surged to $641.6 billion as of May 3. Later today, the U.S. economic agenda will feature speeches by FOMC members Bowman and Barr, potentially offering insights into future monetary policy. Additionally, the preliminary University of Michigan Consumer Sentiment for May is anticipated to be released, with expectations set at 76.3.

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