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​So, I think given the kind of impetus the government has given for growth in the country, the kind of global outlook towards India that has been improving and with so much of investments coming to the country and more expected in the next decade, I think we are in for a sweet spot in terms of manufacturing.

The S&P 500 and Nasdaq indexes reached their highest in 14 months as economic data eased concerns about inflation, increasing bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. This helped offset worries about future rate hikes and boosted companies like Apple and Microsoft, which both reached record highs. Traders believe there is a 67% chance of a 25-basis point rate hike in July, followed by a potential rate cut by December. All 11 S&P 500 sector indexes rose, and the Dow Jones Industrial Average also increased.

The Bank of Japan (BOJ) on Friday maintained ultra-low interest rates and its forecast that inflation will slow later this year, underscoring its focus on supporting a fragile economic recovery.

ETMarkets has identified 9 stocks with a market cap of over Rs 10,000 crore that have shown a bullish MACD crossover signal, indicating a potential upward trend. Godrej Industries, Data Patterns (India), Carborundum Universal, UNO Minda, Asian Paints, Bata India, Honeywell Automation India, Indian Oil Corporation, and Coforge are the companies identified. These companies operate in various sectors such as consumer goods, electronics, automotive components, paints, automation, oil refining, and IT solutions, making them significant players in their respective markets and potential opportunities for investors.

Oil prices rose on Thursday due to a weaker dollar and a jump in refinery runs in China. Brent crude futures surged by 1.58% to $74.36 a barrel, while US West Texas Intermediate crude increased by 1.61% to $69.37 a barrel. Experts suggest that oil prices could receive further support in the coming months after voluntary production cuts by OPEC+ countries, alongside strong demand.

US Treasury yields saw its biggest one-day drop since May 30, with the yield on 10-year Treasury notes down 7.8 basis points to 3.720%, following the latest policy statement from the Federal Reserve. Despite unchanged weekly initial jobless claims in the US, which followed expectations at 262,000, the yield curve measuring the gap between yields on two- and 10-year Treasury notes remained negative, indicating reticence on the perceived strength of the US economy. Meanwhile, the European Central Bank increased borrowing costs for the first time in 22 years, while leaving the door open for further hikes.

A total of 2,751 shares changed hands on the counter till 01:48PM (IST)

In the overseas markets, both gold and silver were trading lower at USD 1,932 per ounce and USD 23.36 per ounce, respectively.

Stocks in focus included names like Poly Medicure, which was up nearly 13%, L&T Finance Holdings, which rose nearly 5% to hit a fresh 52-week high, and EPL, which closed flat but is inching towards fresh 52-week highs.

The European Central Bank (ECB) increased interest rates for the eighth consecutive time and hinted that more measures may be on the horizon to manage high inflation. Despite decreasing commodity prices, the labour market remains tight, wage growth fast and underlying price pressures, particularly for services, have stayed high, which is why some policymakers have suggested a July rate hike and most are keeping an open mind about September.