MARKET LIVE: SGX Nifty up despite weak global cues; HCL Tech, RIL in focus

Stock market LIVE updates: Investors will react to HCL Technologies’ Q4 results, which came largely in-line with Street expectations. Besdies, they will await March quarter numbers of Reliance Industries, which is slated to report the earnings post marekt hours today. At 7:25 AM, SGX Nifty was at 17,683, up 18 points.

Oil-to-telecom major Reliance Industries (RIL) is likely to see up to 14 per cent year-on-year (YoY) revenue growth to Rs 2.36 trillion in the January-March quarter (Q4FY23), as lower windfall tax, and stronger base gross refining margins (GRMs) could drive better oil-to-chemicals (O2C) business, said analysts. READ PREVIEW HERE

Other key companies due to announce Q4FY23 results on Friday, April 21, are Bheema Cement, Aditya Birla Money, Hindustan Zinc, Prime Securities, Rajratan Global Wire, Tanfac Industries, Tejas Networks, and Wendt (India).

Global cues

Asia-Pacific markets traded mixed on Friday as Japan’s core inflation for March came in at 3.1 per cent, unchanged from February.

The Nikkei 225 and Topix climbed marginally, while Australia’s S&P/ASX 200 lost 0.62 per cent. South Korea’s Kospi fell 1.16 per cent, while the Kosdaq saw a larger loss at 1.94 per cent.

Overnight in the US, the Nasdaq Composite slipped 0.8 per cent, while the Dow Jones Industrial Average lost 0.33 per cent. The broad-based S&P 500 dropped 0.6 per cent.

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