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• The equity benchmark Sensex rose nearly 300 points, while Nifty closed above the 23,300 mark, driven by a rally across global markets. Market sentiment was boosted as US core inflation data came in lower than expected, sustaining expectations that the Federal Reserve may cut interest rates this year. Positive earnings reports from major US banks also contributed to the upbeat mood. Overnight, US markets surged by 2.5%, and Asian markets gained 1%, following the easing of US core inflation concerns. Additionally, better-than-expected quarterly results from HDFC Life and L&T further lifted the domestic market. A drop in the US 10-year bond yield, a decrease in the US Dollar Index to below 109, reduced geopolitical tensions, and a ceasefire agreement between Israel and Hamas all helped strengthen market sentiment.

• The Sensex advanced 318 points, or 0.40%, closing at 77,042, while the Nifty gained 98 points, or 0.40%, closing at 23,311, marking a third consecutive day of gains. Both mid-cap and small-cap stocks rose over 1%.

• Railway stocks rallied after reports suggested that Indian Railways might receive a 15-20% increase in its capital expenditure allocation for FY26 in the upcoming budget.

Technical Outlook:

• Nifty index opened positive but slipped and gave up its opening gains in the first tick itself. This was followed by a lacklustre move with slight attempts to recovery which was again given up. The last hour witnessed a comeback of bulls and it managed to cross its previous rejection zone of 23350 zones.

• It formed a small bodied candle on daily frame with longer lower shadow and has started making higher lows from the last three sessions. Now it has to cross and hold above 23350 zones for strength to regain towards 23500 and 23700 zones while supports are shifting higher to 23150 then 23050 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 0.61% at 23406 levels. Positive setup seen in LTTS, BSE, MCX, Indian hotel, Indus Tower, Ambuja Cement, CDSL, Reliance, SRF and Kotak Bank while weakness in Trent, OFSS, Tata Consumer product, Bata India, HUL, HPCL, Lupin, HCL Tech, Kalyan Jewellers, Nestle India, KPIT Tech and Supreme Industries.

• On option front, Maximum Call OI is at 24500 then 24000 strike while Maximum Put OI is at 22000 then 23000 strike. Call writing is seen at 23300 then 24000 strike while Put writing is seen at 23000 then 22500 strike. Option data suggests a broader trading range in between 22800 to 23700 zones while an immediate range between 23100 to 23500 levels.

• Delhivery – Company has introduced its new service, Rapid Commerce, designed to offer sub-2-hour deliveries in response to the rising demand for ultra-fast shipping. The service, akin to quick-commerce (q-commerce), which completes deliveries within 10-15 minutes, debuted in Bengaluru and is already handling more than 300 orders daily. – Positive

• InfoEdge – Company Ventures-backed fintech Recur Club, which operates a debt marketplace for startups and small and medium businesses, Thursday said it is launching a platform that will lend Rs 150 crore, or $17.3 million, to direct-to-consumer (D2C) startups in the quick-commerce sector. – Positive

• Bharat Dynamics – Company has won worth Rs2960cr order to supply medium-range missiles to Indian Navy – Positive

• Sun Pharma – Company’s subsidiary arm TARO Pharma has entered into an agreement to acquire 100% stake in Antibe Therapeutics, Canada. – Positive

• Samman Capital – Company after reported Q3FY25 operational update. The company received an occupation certificate for a premium project in Central Mumbai, selling five apartments at an average of ? 72 crores each,

• collections accelerated from a super-luxury project in South Mumbai, and collections surpassed ?3,900 crores against ? 3,750 crores target

• PNB - Cabinet clears appointment of Ashok Chandra as MD & CEO of Punjab National Bank

• RBI Allows Foreign Investors to open INR accounts for local use - The Reserve Bank of India has allowed foreign individuals with business interest in India to open local rupee accounts for conducting transactions with a resident Indian. RBI said a foreign investor in India may open a special non- resident rupee account with a bank in India or its branch outside India for current and capital account transactions with an Indian entity

• DB Corp Q3 Income Rs642.6cr (down 0.3% YoY), Ebitda Rs177.2cr (down 3.2% YoY), Ebitda margin at 27.6% vs 28.4% (YoY) and Net profit Rs118.cr (down 4.7% YoY). Advertising revenue down 1% to Rs 477 crore versus Rs 482 crore. Circulation revenue down 1.11% to Rs 356 crore versus Rs 360 crore.

Global Market Update

• European Market - European stocks gained on Thursday, lifted by the luxury and technology sectors as a double-digit jump in Richemont’s sales and an upbeat outlook by Taiwan Semiconductor Manufacturing Co. boosted sentiment.. UK Index gained 0.5%, Germany and France Index gained 0.2% each.

• Asian Market - Shares in Asia tracked Wall Street’s rise as cooling US core inflation kept alive the prospect of Federal Reserve easing this year. The yen jumped on Bank of Japan rate-hike expectations. Gauges in Australia, Hong Kong and China all notched gains, sending an index of Asian equities higher for a third day.

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