US markets closed mixed with Nasdaq gaining 213 points as tech stocks rallied. Dow Jones ended lower by 35 points. Nasdaq surged after stronger-than-expected revenue guidance and an earnings beat from Nvidia fueled a rally in semiconductor and artificial intelligence stocks as well as other technology names. Nvidia shares jumped 24.4 percent in the session to finish at an all-time high. Investors are awaiting debt ceiling updates and inflation data

The market made a smart recovery on expiry day on Thursday and closed in the green, Nifty is now up 2.8 percent in the last one month. The big question is, can the Nifty take out resistance level of 18400-18450 today?

Both foreign and domestic investors bought in the cash market overnight. The foreign institutional investors (FIIs) bought Rs 589 crore in cash market, while the domestic institutional investors (DIIs) bought Rs 338 crore in cash market.

The important results to track today include BHEL, M&M, Samvardhan Motherson, BEML and ONGC.

In results reported yesterday, Zee Entertainment reported a net loss of Rs 73 crore vs a profit of Rs 182 crore year-on-year. Meanwhile, Page Industries also reported weak earnings with revenues down 13 percent year-on-year and profits falling 59 percent year-on-year.

Chris wood of Jefferies says, "Greed and fear continues to take the view that it will only be a matter of time before the Sensex reaches the 100,000 level, a target of fascination to India’s delightfully noisy financial media. This target, on a five-year view, now assumes trend 15 percent EPS growth and that a five-year average one-year forward PE multiple of 19.8x is maintained. Now is the time to add exposure to property stocks if it is believed that the end of the Indian. Monetary tightening cycle is at hand. These stocks went vertical in the second half of 2021 when it became clear that the property upturn was finally underway."