Meanwhile, the volatility gauge India VIX ended at 18.46, down by 5.86% from the last closing.
Indian stock markets were closed on Friday due to Maharashtra Day holiday.
Here’s how analysts read the market pulse:
Nifty traded in a narrow, choppy range during the truncated week, ending with marginal gains of about 0.42% just below the 24,000 mark, Rajesh Bhosale, Technical Analyst at Angel One said. The price action reflected indecision, with small-bodied candles on daily charts and a Doji formation on the weekly chart, as investors awaited triggers such as election outcomes and geopolitical clarity, he said.
In his view, the broader trend remains positive despite the near-term consolidation, supported by a strong 7.5% rally in April and bullish technical indicators like a weekly RSI crossover. “Key support is seen around 23,500–23,400, while resistance stands at 24,350; a breakout above this could open the path towards 24,600. Overall, the bias remains constructive, with dips likely to attract buying interest,” Bhosale said.
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US markets
The S&P 500 and Nasdaq closed at record highs on Friday, lifted by strong earnings and softer crude prices, capping their biggest monthly gains in years.
Both indexes extended their winning streak to six straight weeks, the longest since October 2024, with tech stocks continuing to lead the rally.
European Markets
London’s blue-chip FTSE 100 edged lower on Friday, weighed down by declines in major energy stocks and AstraZeneca, with a UK holiday dampening trading activity.
The FTSE 100 slipped 0.1% to 10,363.93, while the midcap FTSE 250 rose 0.3%.
Meanwhile, French CAC, Germany’s Dax, Stoxx 600 and Spain’s IBEX 35 ended with strong gains on Thursday, rising between 0.53% and 1.41%.
Tech View
Decoding the charts, Bajaj Broking said the index is witnessing consolidation in the broad range of 23,600-24,400 amid stock specific action. Within the consolidation, a close below last two weeks’ identical lows around 23,800 will open downside towards the lower band of the range placed around 23,600 levels, this brokerage said.
“On the higher side only a move above 24,400 will open further upside towards 24,600 and 24,800 levels in the coming week. Short-term support is positioned around 23,600–23,500 range being the confluence of the recent major low and 38.2% retracement of the last 3 weeks pullback (22,183-24,601),” Bajaj Broking added.
Most active stocks in terms of turnover
Reliance Industries (RIL, Rs 670 crore), HDFC Bank (Rs 296 crore), Syngene(Rs 200 crore), Bajaj Finance (Rs 188 crore), ICICI Bank (Rs 186 crore), Infosys (Rs 151 crore) and State Bank of India (SBI, Rs 150 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: 3.06 crore), SpiceJet (Traded shares: 1.97 crore), HFCL (Traded shares: 1.02 crore), Inox Wind (Traded shares: 1 crore), JP Power (Traded shares: 63.74 lakh), Reliance Power (Traded shares: 63.16 lakh) and Suzlon Energy (Traded shares: 56.28 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
Syngene, Newgen Software Technologies, Bajaj Auto, Cemindia Projects, Mtar Technologies, RPG Life Sciences and Meesho were among the stocks that witnessed strong buying interest from market participants.
52-week high
Today, 106 stocks hit their 52 week highs while 26 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Abans Enterprises, Acutaas Chemicals, Adani Ports and Special Economic Zone (APSEZ), Chennai Petroleum Corporation, Clean Max Enviro Energy Solutions, Dev Labtech Venture and HFCL.
Stocks seeing selling pressure
Among the large cap names were Tata Motors Passenger Vehicles (TMPV), Eternal and Hindalco Industries. Other stocks which witnessed significant selling pressure were Waaree Energies, Edelweiss Financial Services, Force Motors, HEG, Emmvee Photovoltaic Power, Indian Metals & Ferro Alloys and National Aluminium Company (Nalco).
Sentiment meter favours bears
Sensex settled with strong gains, aided by ICICI Bank, HDFC Bank and Larsen & Toubro (L&T) though the broader market breadth stayed mildly 1,581. Out of the 4,337 stocks that traded on the BSE on April 30, Thursday, 2,051 stocks witnessed advances, 2,606 saw declines while 150 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)