The 50-share Nifty index is expected to open higher on Friday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to surpass its previous record high of 8181.55 made on Thursday.
At 07:30 a.m., Nifty India stock futures in Singapore were trading 55 points lower at 8,249 indicating a gap-up opening on the domestic market.
The benchmark indices ended at all-time closing highs led by gains in technology, oil & gas, banks and realty sectors even as the US ended its Quantitative Easing program on Thursday.
The 50-share Nifty closed 78 points higher at 8169.20 and Sensex ended 248 points higher at 27346.33 in the previous session.
"Nifty cleared the resistance of 8,100 and moved higher to form a new high of 8,181. If the present momentum spills over to next few days then it may move higher towards 8,200 - 8,240 range which is the next resistance to watch out for," GEPL Capital said in a report.
South Korea's Kospi index was trading 0.24 per cent higher at 1,963 and China's Shanghai index was trading 0.24 per cent higher at 2,396
At 07:30 a.m., Nifty India stock futures in Singapore were trading 55 points lower at 8,249 indicating a gap-up opening on the domestic market.
The benchmark indices ended at all-time closing highs led by gains in technology, oil & gas, banks and realty sectors even as the US ended its Quantitative Easing program on Thursday.
The 50-share Nifty closed 78 points higher at 8169.20 and Sensex ended 248 points higher at 27346.33 in the previous session.
"Nifty cleared the resistance of 8,100 and moved higher to form a new high of 8,181. If the present momentum spills over to next few days then it may move higher towards 8,200 - 8,240 range which is the next resistance to watch out for," GEPL Capital said in a report.
The level of 8,130 has now emerged as an immediate support and the bias would turn negative for short term only if Nifty breaches 8,130. A breach of 8,130 may drag it down to 8,060," added the report.
According to analysts, the market is in bull-grip and the momentum is likely to take Nifty to 8,300 in November series itself.
Overnight, U.S. stocks ended higher boosted by a strong reading on quarterly economic growth and by another round of upbeat earnings reports including Visa, which accounted for nearly 140 points in the Dow industrials.
Gross domestic product grew at a 3.5 percent annual rate in the third quarter, beating expectations," Reutrs reported.
"A separate report showed first-time applications for unemployment benefits rose marginally last week, but a measure of underlying trends hit its lowest level since May 2000 in a show of labor market strength," added the report.
The Dow Jones industrial average rose 221.11 points, or 1.3 per cent, to 17,195.42, the S&P 500 gained 12.35 points, or 0.62 per cent, to 1,994.65 and the Nasdaq Composite added 16.91 points, or 0.37 per cent, to 4,566.14.
Asian shares were trading higher. Japan's Nikkei 225 index which was trading 1.7 per cent higher at 15,930 and Hong Kong's Hang Seng index was trading 0.80 per cent higher at 23,889. Gross domestic product grew at a 3.5 percent annual rate in the third quarter, beating expectations," Reutrs reported.
"A separate report showed first-time applications for unemployment benefits rose marginally last week, but a measure of underlying trends hit its lowest level since May 2000 in a show of labor market strength," added the report.
The Dow Jones industrial average rose 221.11 points, or 1.3 per cent, to 17,195.42, the S&P 500 gained 12.35 points, or 0.62 per cent, to 1,994.65 and the Nasdaq Composite added 16.91 points, or 0.37 per cent, to 4,566.14.
South Korea's Kospi index was trading 0.24 per cent higher at 1,963 and China's Shanghai index was trading 0.24 per cent higher at 2,396
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