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Indian benchmark indices are looking for a strong headstart on Friday tracking global peers. The Gift Nifty futures also suggested a gap-up start as they stood 119 points higher versus the Nifty 50 futures at 22,892 levels.

Indian markets erased some of the previous session losses and ended higher with Nifty around 22,650 on May 2, as market participants digested the Fed Chair's comments on rate hike after keeping key interest rates unchanged on May 1 meeting.

On Thursday, the 30-share benchmark index ended at 74611.11 up by 128.33 points or by 0.17 % and then NSE Nifty was at 22648.2 up by 43.35 points or by 0.19 %.

On the global front, in Asia-Pacific markets tracked Wall Street's upward trajectory, buoyed by anticipation of crucial US employment data.

South Korea's Kospi climbed by 0.39 per cent, and the smaller-cap Kosdaq advanced by 0.52 per cent. Hong Kong's Hang Seng index shot up by 1.56 per cent. Meanwhile, markets in Japan and mainland China were closed for public holidays. In Australia, the S&P/ASX 200 index rose by 0.42 per cent.

On Wall Street, the Dow Jones Industrial Average surged by 0.85 per cent, while the S&P 500 and the Nasdaq Composite gained 0.91 per cent and 1.51 per cent, respectively.

Back home, Top traded Volumes on NSE Nifty – Tata Steel Ltd. 69320283.00, Power Grid Corporation of India Ltd. 44059506.00, NTPC Ltd. 27892188.00, Kotak Mahindra Bank Ltd. 26640478.00, ICICI Bank Ltd. 25118334.00, On NSE, total number of shares traded was 465.56 Crore and total turnover stood at Rs. 124577.28 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 334460 with a total turnover of Rs. 21260.59 Crore. Along with this total number of contracts traded in stock futures were 1710095 with a total turnover of Rs. 135179.71 Crore. Total numbers of contracts for index options were 708043676 with a total turnover of Rs. 41721381.18 Crore. and total numbers of contracts for stock options were 5619322 with a total turnover of Rs. 461194.05 Crore.

The FIIs on 02/05/2024 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 21768.10 Crore and gross debt purchased stood at Rs. 941.70 Crore, while the gross equity sold stood at Rs. 19917.08 Crore and gross debt sold stood at Rs. 1209.99 Crore. Therefore, the net investment of equity and debt reported were Rs. 1851.02 Crore and Rs. -268.29