Both the Sensex and Nifty saw a strong recovery on Friday following a three-day losing skid. Four Nifty companies, including Reliance Industries, the largest company in India based on market value, are scheduled to release their December quarter earnings today, making this an action-packed afternoon.
A mainboard IPO is scheduled to reach the Street, and the Street is also awaiting a verdict on the Sony-Zee merger, which is expected to happen today. Positive signals from the overnight trading, aside from investors’ drop buying, bolstered the mood at home.
After a three-day losing streak, both the Sensex and Nifty had a robust comeback on Friday. This afternoon will be jam-packed with action as four Nifty companies, including Reliance Industries, the largest company in India by market value, are set to disclose their December quarter earnings today.
In addition to the Street anticipating a decision on the Sony-Zee merger, which is anticipated to occur today, a mainboard IPO is planned to reach the Street. Aside from investors’ impulsive purchases, encouraging signs from the overnight market lifted spirits back home.