Indian equity indices opened Friday’s trading session on a lower note. The NSE Nifty 50 fell 27 points or 0.11% to open at 25,558. The BSE Sensex opened 77 points or 0.09% lower at 83,392.

The Bank Nifty opened 97 points or 0.17% lower at 57,325. Similarly, the small and midcap stocks opened the day on a weaker note. The Nifty Midcap dropped 19 points or 0.03% to open at 59,223.

“The market is resilient and technically strong. Price action in the leading stocks indicates short covering. Even now, there are big shorts in the system, and the strength in the market might keep the bears on the back foot, facilitating further short covering. Good results from the banking majors HDFC and ICICI can impart fundamental support to the market, and if RIL, which has been a laggard for some time now,

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