Indices make a positive start to Saturday special session; Sensex reclaims 74K, Nifty breaches 22.5K

Among Nifty , , and were trading higher by around 1% each while JSW Steel, which announced Q4 results on Friday, was trading around 2% lower.

Shares of Zee Entertainment Enterprises, which reported a profit of Rs 13 crore vs loss YoY in the March quarter, rallied 5%. The highest positive momentum was seen in media and realty index, which went up over 1% each.

" closing in record territory above 40,000 will continue to provide global support for . However, in India, the election-related jitters might continue to cause high volatility. A significant trend now is the turning buyers on Friday, and this takes away the pressure on the markets," said Dr. V K Vijayakumar of .

At the technical level, 22,450-22,430 will act as an important support for Nifty.

"Till 22,430 holds, we can see the index move towards 22,530-22,550. A surge above 22,550 can take the index towards 22,590-22,610 zone. On breakdown & sustenance below 22,430, a further correction up to 22,390-22,370 will be on the cards," said .

Global Markets

The Dow Jones Industrial Average rose 134.21 points, or 0.34%, to 40,003.59 — a close above the 40,000 mark for the first time. For the week, the Dow gained 1.2%, the S&P 500 rose 1.5% and the Nasdaq climbed 2.1%.

Data from earlier this week showing softening consumer prices in April, boosted expectations that the US central bank will be able to cut rates twice this year, beginning in September.

Currency Watch

The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, tracking positive sentiment in domestic equity markets and fresh foreign fund inflows.

FII Flow

Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Friday, as they bought shares worth Rs 1,616.79 crore, according to exchange data.

(With input fron agencies)