Indian shares set to snap 4-day gaining streak, Reliance earnings eyed
Indian shares stepped back on Friday after four straight sessions of gains that set them on course for their strongest week since early-February, with earnings of Reliance Industries, the country’s most valuable company, in focus.
The NSE Nifty 50 index (.NSEI) fell 0.78% to 14,778.9 by 0349 GMT, while the benchmark S&P BSE Sensex (.BSESN) slipped 0.84% to 49,345.57. Both the indexes are likely to close the week around 3% higher on gains from upbeat earnings reports.
Reliance (RELI.NS) was marginally lower ahead of its quarterly results. The stock is up more than 6% this week, as of its last close.
Wipro (WIPR.NS) climbed as much as 4% to a record high after the IT firm raised its outlook for June-quarter IT services revenue following the close of an acquisition.
Benchmark Nifty 50 component IndusInd Bank (INBK.NS) is also due to report earnings later in the day.
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