Nifty continues to face resistance at 19500. Large selling from domestic investors was witnessed on Thursday. Domestic institutional investors (DIIs) sold Rs 1,196 crore in cash yesterday while foreign institutional investors (FIIs) bought Rs 2,237 crore in cash.

Global cues are strong, Nasdaq is up 1.5 percent. PPI showed inflation rose less than anticipated. It has been a week for US markets — S&P 500 up 2.5 percent , Dow Jones up 1.9 percent , Nasdaq up 3.5 percent this week.

Today is an important day of earnings in the US — Jpm, Wells Fargo, Citi, Blackrock, are all set to report earnings today.

Tech stocks continue to be in focus. Wipro reported weak earnings with revenue down 2.8 percent. Its guidance for the second quarter indicated weakness to persist for Wipro. It has deferred its compensation cycle from late 2Q (Sept) to 3Q for FY24.

Oil prices hit a three-month high as US inflation eased. Brent crude prices are back above 81.5$/bbl. Oil prices have rallied by over 11 percent in two weeks, primarily in response to supply cuts from top producers Saudi Arabia and Russia.