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Immediate support for the Nifty is at 21,550 levels, said Nagaraj Shetti of HDFC Securities. As long as the sharp opening downside gap of Wednesday remains open at 21,970, there is a higher probability of a sell-on rise in the market for the short term.

Revenue from operations during the third quarter rose 8% year-on-year (YoY) to Rs 16,740 crore against Rs 15,521 crore in the corresponding quarter of last year.

As per Trendlyne forecasts, the majority of these stocks are expected to experience growth exceeding 20% from their current levels.

On Thursday, NHPC OFS received an overwhelming response from institutional investors, such that the government decided to exercise the greenshoe option and sell an additional 1% stake in the renewable energy major.

Hindustan Unilever (HUL) reported a disappointing quarterly performance, with net profit rising 0.6% YoY to Rs 2,519 crore, missing estimates. Revenue from operations fell 0.3% YoY. Underlying sales growth and volume growth were flat. EBITDA rose 0.1% YoY to Rs 3,540 crore. Operating margins expanded 8 basis points to 23.31%. Homecare segment sales declined, beauty and personal care segment had flat sales growth, and the foods and refreshments segment saw a 1% growth in sales.

Aasif Malbari, CFO of Godrej Consumer, discusses the need for stimulus in the rural economy and the potential for a boost in consumption through lower indirect taxation rates on everyday products. He emphasizes the importance of focusing on the consumption side of the economy in the budget, particularly through rural job creation. Additionally, he highlights the need to streamline compliance processes and reduce the cost of doing business to free up resources for the industry and calls for actions that can stimulate investments, such as income tax relief and indirect tax relief for capex investment.

From the Sensex pack, Bharti Airtel, NTPC, Tech Mahindra, M&M, Tata Steel, UltraTech Cement, and Titan were the top gainers, rising 2-3.2%. On the other hand, IndusInd Bank, Kotak Bank, and HDFC Bank closed 0.8-3.2% lower.