The Indian market is expected to trade higher on Friday, but may face selling pressure at elevated levels due to mixed global cues. Nifty futures closed lower on Thursday, and India VIX rose by nearly 4%. Options data suggests a broader trading range between 23,500 and 24,500, with immediate levels between 23,700 and 24,200.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.