Indian equity benchmarks ended higher on Friday. Key indices started in positive and continued in green for the whole session, due to buying by Foreign Institutional Investors (FIIs), which also boosted the domestic traders’ sentiments. Traders also took some support with a private report stating that the Indian economy’s recovery from the pandemic is better as compared to global peers despite problems such as high inflation, monetary policy tightening, rising interest rate, and the Russia-Ukraine conflict. Another private report stating that India can raise green investments to $12.1 trillion by 2050 and reap a host of benefits, also boosted the market sentiments.

The Nifty has immediate resistance levels placed at 17,811 (3 days high) followed by 17,919 (key resistance). On the other side, it has a strong support level placed at 17,637 (2 days Low) followed by 17,420 (gap support), said Omkar Patil, Technical Research Associate at GEPL Capital.

Also Read: Binance’s CZ confirms $500 million investment in Elon Musk’s Twitter deal

Indian Indices

The Sensex jumped 203.01 points or 0.34% to 59,959.85 while the Nifty rose 49.85 points or 0.28% to close at 17,786.80 at the close of trading on Friday. The Sensex moved in a high-low band of 60,133.17 and 59,739.05. There were 19 stocks advancing against 11 stocks declining. The Nifty traded in a range of 17,838.90 and 17,723.70. There were 30 stocks advancing against 19 stocks declining, while 1 stock was stable on the index.

Broader Indices

The broader indices ended mixed with the BSE MidCap index down by 0.41% while the SmallCap index was down by 0.62%. The top gaining sectoral indices on the BSE were Auto by 1.66%, Energy by 1.20%, Oil and Gas by 0.76%, Consumer Discretionary by 0.32% and Consumer Durables by 0.25%. While Metal down by 1.44%,  Commodities by 1.08%, IT by 0.76%, Bankex by 0.72% and Telecommunication by 0.55% were the top losing sectoral indices on the BSE.

Also Read: Twitter delisted from New York Stock Exchange after Elon Musk acquisition

India VIX Index

Nifty or India VIX, a gauge of the market’s expected volatility over the near term, fell 4.07% to 15.92 on Friday.

SGX Nifty

The trends on SGX Nifty indicate a positive opening for the index in India with 167.50 points gain. The Nifty futures were trading at 18,002.00 on the Singaporean Exchange at around 09:00 hours IST

Support and Resistance level

The key support level for the Nifty is placed at 17,739, followed by 17,712 & 17,668. If the index moves up, the key resistance levels to watch out for are 17,827 followed by 17,854 and 17,898, according to pivot charts.

Also Read: India’s job situation ‘really alarming’: Raghuram Rajan

US Markets 

The S&P 500 rose 93.76 points, or 2.46%, to 3,901.06 on Friday.

The Dow Jones Industrial Average rose 828.52 points, or 2.59%, to 32,861.80.

The Nasdaq rose 309.77 points, or 2.87%, to 10,766.20.

The Russell 2000 index of smaller companies rose 40.60 points, or 2.25%, to 1,846.92.

Asian Markets

Asian markets ended mostly higher on Friday. Hang Seng down by 3.66%, the Nikkei 225 down by 0.88%, Shanghai Composite down by 2.25% and the KOSPI Composite down by 0.89%.

European Markets

European markets ended mixed on Friday. UK’s FTSE 100 fell 0.37%, France’s CAC rose 0.46% and Germany’s DAX rose 0.24%.

Also Read: ECB announces super rate hike of 75 bps to combat inflation

Major Headlines

Maruti Suzuki Q2FY22 results

The company has announced to recall of 9,925 units of Wagon R, Celerio and Ignis manufactured between August 3, 2022, and September 1, 2022. “It is suspected that there may be a defect in the rear brake assembly pin, which in a certain case, may break and cause a peculiar noise. There may be a possibility of an impact on brake performance in the long run,” it said in its regulatory filing.

NTPC Limited Q2FY22 results

The company reported a 7.4% year-on-year (YoY) decline in net profit at Rs 3,417.7 crore for Q2FY23 driven by higher fuel cost, finance cost, loss at joint ventures and lower other income. Revenue grew by 36% to Rs 44,175 crore against the year-ago quarter. Average tariff rate at Rs 4.77 per unit in the reviewed quarter, up from Rs 3.86 per unit in the corresponding quarter a year ago.

Also Read: Bank of Japan keeps ultra-low interest rates at -0.1%

Bulk Deal data

Rajasthan Global Securities Pvt Ltd bought 765086 shares in Tourism Finance Corp at Rs 80.85 per share on the NSE.

Rohan S Hegde sold 129234 shares in Liberty Shoes Ltd at Rs 303.1 per share on the NSE.

Raj Kumar bought 100000 shares in GSS Infotech Limited at Rs 290  per share on the NSE.

Abhay Narain Gupta bought 565000 shares in Suumaya Industries Ltd at Rs 41.64 per share on the NSE.

Anupam Narain Gupta sold 441961 shares in Suumaya Industries Ltd at Rs 41.67 per share on the NSE.

DII and FII data

Foreign institutional investors (FIIs) have bought shares worth a net of Rs 1,568.75 crore, whereas domestic institutional investors (DIIs) sold shares worth a net of Rs 613.37 crore on October 28, as per data available on the NSE.


No securities have been placed under the F&O ban for October 31. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.