Police say the shooting happened about 11:30 p.m. at an intersection two blocks south of Monument Circle. Police have only identified the victim as a male juvenile.
The fireworks drew tens of thousands of people downtown, but Bailey said the fireworks crowd had already dissipated before the shooting.
Officials and activists have repeatedly complained about large groups of teens who are left downtown without any supervision.
Bailey says police also confiscated a gun from a 20-year-old man Thursday night.