Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — gained 27 points or 0.15 percent to 17,692, thereby pointing to a slightly negative/flat opening for the market today.

The market slowly inched higher post the close of March 31 and has been grinding lower through this week. In another such session on Thursday, the Nifty 50 moved in a 100-point band and ended flat. However, the index managed to snap a three-day losing streak with that five-point gain.

Surprisingly, the volatility that comes along with a weekly options expiry session was also absent on Thursday.

It appears as if the market has been awaiting results from Reliance Industries, which will report after market hours later this evening. Reliance has a 10 percent weightage on the Nifty 50 and any move here will be key in determining which way the index is headed.

The market will also react to results from HCLTech, which optically appear to be a mixed bag but the guidance and commentary from the management has been fairly bullish. The company expects revenue growth of 6-8 percent in financial year 2024 in constant currency terms, better than Infosys' forecast of 4-7 percent.

#stockmarketupdates #sensex #nifty #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday

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