Ahead of Market: 10 things that will decide stock market action on Friday

The Indian market extended its winning streak on Thursday, with the Nifty 50 now less than 100 points away from its 52-week high, as financials and consumer durables led gains amid optimism over a domestic earnings rebound and renewed foreign inflows.

The S&P BSE Sensex surged 862.23 points, or 1.04%, to close at 83,467.66, while the NSE Nifty 50 rose 261.75 points, or 1.03%, to 25,585.30.

Here's how analysts read the market pulse:

Domestic equities extended their strong recovery rally, buoyed by positive global cues and renewed optimism surrounding India–U.S. trade discussions, said Vinod Nair, Head of Research at Geojit Investments, adding that gains were broad-based, led by Realty, Auto, FMCG, and Private Banking stocks.

“Sentiment was further lifted by expectations of a Q3FY26 demand revival, early signs of FII inflows, supported by dovish commentary from the US Fed, and a softer dollar index. The recent appreciation of the INR also reinforced the positive undertone. While near-term momentum remains favourable, sustained performance will depend on signs of earnings growth from ongoing corporate results and developments in global trade," said Nair.

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US markets

Wall Street's main indexes rose on Thursday, boosted by a strong quarterly update from TSMC that reinforced investor optimism around AI and extended a rally in chip stocks.

TSMC, the world's biggest producer of advanced chips, raised its full-year revenue forecast on a bullish outlook for spending on artificial intelligence.

European Markets

French stocks rose to a seven-month high on Thursday after the government survived a confidence vote, while a jump in Nestle buoyed the wider European market.

The pan European STOXX 600 closed up 0.7%, with gains in food and beverage stocks offsetting weakness in insurance stocks.

French Prime Minister Sebastien Lecornu survived two no-confidence votes with last-minute backing from the Socialist Party - a lifeline that came at the cost of suspending President Emmanuel Macron's contested pension reform.

Tech View

Bulls remained at the helm as the Nifty surpassed the crucial resistance of 25,500 during the day and also closed above it, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the technical front, the index has given a swing high breakout, indicating the possibility of a strong rally in the short term.

"The momentum indicator RSI is in a bullish crossover and rising. Overall, the short-term trend looks positive, with potential to move towards 25,750–25,800, while on the lower end, support is placed at 25,500," said De.

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Most active stocks in terms of turnover

Eternal (Rs 3,215 crore), BSE (Rs 2,320 crore), HDFC Bank (Rs 2,269 crore), Axis Bank (Rs 2,125 crore), BLS International Services (Rs 2,008 crore), Adani Power (Rs 1,737 crore) and ICICI Bank (Rs 1,722 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.

Most active stocks in volume terms

Vodafone Idea (Traded shares: 58.31 crore), Adani Power (Traded shares: 11.11 crore), Eternal (Traded shares: 9.11 crore), YES Bank (Traded shares: 8.09 crore), BLS International Services (Traded shares: 6.39 crore), Bank of Maharashtra (Traded shares: 4.93 crore) and Suzlon Energy (Traded shares: 4.88 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest

Shares of BLS International Services, Craftsman Automation, Oberoi Realty, Apar Industries, Ola Electric Mobility, Cyient and Whirlpool India were among the stocks that witnessed strong buying interest from market participants.

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52 Week high

Over 165 stocks hit their 52 week highs today while 92 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Bajaj Finance and Eternal.

Stocks seeing selling pressure

Stocks which witnessed significant selling pressure were Eternal, Infosys, IndusInd Bank, Delhivery and Bharti Airtel.

Sentiment meter bullish

The market sentiments were bullish. Out of the 4,334 stocks that traded on the BSE on Thursday, 1,871 stocks witnessed declines, 2,330 saw advances, while 133 stocks remained unchanged.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)