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Market Outlook
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US stocks moved sharply higher led by technology names after Meta posted better than expected earnings. Nasdaq gained 3.10% making it as its best day since March, S&P added 2.50% and Dow gained 1.80%.

US dollar index gained further ground to trade near 103.67, Cboe Vix declined marginally below 30 (Vix still trades at elevated levels despite of sharp recovery in stocks), 10 year traded flat near 2.83%.

Crude prices moved sharply higher as Germany is no longer opposed to full Russian oil embargo. WTI moved above 105, Brent above 107.

Indian stocks moved higher on last trading day of April series, some short covering along with buying from FPI and domestic institutions helped Nifty and Sensex to add 1.20% to their overnight close. Nifty reclaimed 17200, Sensex closed above 57500.

Markets may continue to build on the gains made on Thursday at the open on strong cues from mother markets. Participants may however watch for some resistance near 17500 levels. Global markets may keenly watch the outcome of FOMC meet next week before deciding next course of action. Continue to trade with rotational bias and maintain enough protection against longs for near term trading.

(all prices mentioned above are as on 3.00 am IST)
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