The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 89-points gain.
The BSE Sensex rallied 417.96 points to 59,141.16, while the Nifty50 jumped 110 points to 17,629.50 and formed bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,545.07, followed by 17,460.63. If the index moves up, the key resistance levels to watch out for are 17,679.27 and 17,729.03.
The S&P 500 ended slightly lower on Thursday paring losses in late trading after unexpectedly strong retail sales data underscored the strength of the U.S. economic recovery.
The Dow Jones Industrial Average fell 62.22 points, or 0.18%, to 34,752.17, the S&P 500 lost 6.65 points, or 0.15%, to 4,474.05 and the Nasdaq Composite added 20.30 points, or 0.13%, to 15,181.83.
Shares in Asia-Pacific were mixed in Friday morning trade as investors react to mixed US economic data released overnight.
The Nikkei 225 in Japan climbed 0.38% while the Topix index traded fractionally higher. South Koreas Kospi shed 0.22%.
Trends on SGX Nifty indicate a positive opening for the index in India with a 89-points gain. The Nifty futures were trading at 17,694 on the Singaporean Exchange around 07:30 hours IST.
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