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• The equity benchmark Sensex surged over 700 points, while the Nifty nearly touched the 25,000 mark, fully recovering losses from the previous day. This rally was driven by blue-chip companies such as ITC, Kotak Bank, Bajaj Finance, Infosys, and SBI Life. Positive momentum in global markets, strong quarterly earnings, and a sharp rise in domestic Services and Composite PMI to a one-year high above 60 all contributed to the market’s upbeat sentiment.

• Key sectors that outperformed included FMCG, Insurance, exchange-related stocks, IT, metals, and Oil & Gas. The rupee strengthened sharply by 1% to 85.20, signaling increased foreign buying interest in Indian equities. The Nifty rose 244 points, or 1%, closing at 24,853, while the Sensex gained 770 points, or 0.9%, ending at 81,721.

• On the global front, the US market bounced back from recent lows, supported by falling US bond yields, with modest gains recorded in both Asian and European markets. Metal stocks advanced, bolstered by rising base metal prices on the London Metal Exchange, pushing the Nifty Metal Index up by 1%. FMCG stocks saw renewed buying interest following ITC’s strong Q4FY25 revenue growth, driven by increased rural demand, lifting the Nifty FMCG Index by 1.5%.

Technical Outlook:

• Nifty Index opened on a positive note and witnessed strong buying interest right from the first tick, with bulls taking charge of the session. The index showed solid bullish momentum in the initial hour and successfully surpassed an immediate resistance of 24750 zones. However, as the day progressed, the momentum faded as the index got stuck in a narrow range of around 100 points and traded sideways.

• On the weekly chart, Nifty has formed a small-bodied bearish candle with a long lower shadow, indicating that buying interest emerged from lower levels. It formed bullish candle on daily chart, negating the sequence of lower highs and ended the day with gains of nearly 250 points. Now it has to hold above 24750 zones for an up move towards 25100 then 25300 zones while supports are shifting higher at 24750 then 24600 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 0.96% at 24890 levels. Positive setup seen in Angel one, Hindustan Copper, MFSL, ICIC Prudential Life, BHEL, MCX, Jio Financial Services, HDFC Life, Tata Chemical, Sona BLW Precision, Bajaj FinServ and SBI Life while weakness in Container Corporation, GMR Airport, NHPC, ABFRL, Cummins India, Jubilant Food, Torrent Pharma, Polycab, Glenmark, Voltas and Biocon.

• On option front, Maximum Call OI is at 26000 then 25000 strike while Maximum Put OI is at 24000 then 24500 strike. Call writing is seen at 24900 then 25300 strike while Put writing is seen at 24800 then 24900 strike. Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24600 to 25000 levels.

• Grasim Industries - Birla Opus, the paints brand owned by Aditya Birla Group's flagship firm Grasim Industries, has become the second largest player in Indian decorative paints industry in terms of overall installed capacity, which has touched 1,096 MLPA.

• Reliance - Reliance is targeting investment of about 750 billion rupees ($8.8 billion) in northeast India while the Adani Group committed an additional 500 billion rupees ($5.8 billion) for the region.

• Patel Engineering - Company’s joint Venture gets Rs 9600crores irrigation project and Company shares in irrigation project worth of Rs 192crores

• Indoco Remedies Get US FD's Nod For Allopurinol Tablets - Company has received final approval from the US FDA for its Allopurinol Tablets. Allopurinol is commonly used to reduce uric acid levels in the blood.

• Bondada Engineering Share Price Gets Order From Andhra Pradesh Government (BSE) - Company has secured a significant order from the Andhra Pradesh government for a solar power project. The order includes the installation of 2000 MW AC and 2600 MWp DC solar power capacity.

• Kernex Microsystems Appoints MD - company has appointed Sreelakshmi Manthena as Managing Director for three years.

• Orion - Company Announces agreement with Shipla medicare and agreement is on recombinant human albumin for European market

Global Market Update

• European Market - European stocks were mostly up on Friday following better-than-expected economic data from Germany and the U.K. The German economy grew faster at the start of the year than previously reported as exports and manufacturing jumped on the back of U.S. firms stockpiling goods ahead of President Trump's tariffs. Germany, UK and France Index gained 0.5% each.

• Asian Market - Asian shares rebounded on increasing risk appetite, putting a regional gauge on course for a sixth consecutive week of gains, and Treasuries steadied as concerns about US fiscal policy eased. Japan, South Korea, Australia Index gained up to 1%.

• US Data - New Home sales and Building permit.

• Commodity - Oil extended this week’s decline as OPEC+ weighs another bumper production increase that could add supplies into a market already expected to face a glut. Brent traded near $64 a barrel, declining for a fourth session and bringing its weekly loss to about 2%

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