India stock benchmarks set to open higher, led by Infosys after strong earnings
India's equity benchmarks are likely to open higher on Friday, driven by Infosys after the IT major posted strong quarterly earnings and raised its full-year revenue growth outlook.
Gift Nifty futures were trading at 25,790 points as of 7:56 a.m. IST, indicating that the Nifty 50 could open above Wednesday's close of 25,665.6. The markets were closed on Thursday for a local holiday.
On Wednesday, Infosys, India's No. 2 software services exporter, unexpectedly raised its revenue forecast to 3%-3.5% from 2%-3% and signalled a healthy demand outlook, citing steady discretionary tech spend and renewed momentum in its core financial services business.
The company's U.S.-listed shares surged 10.5% on Wednesday following a better-than-expected earnings report.
Investors now await earnings reports from other blue-chip companies, including Reliance Industries, Wipro, HDFC Bank and ICICI Bank, later in the day and on Saturday.
The benchmarks Nifty 50 and Sensex have declined in seven of the last eight sessions, losing 2.5% and 2.8%, respectively, as concerns over U.S. tariffs, geopolitical risks, and foreign fund outflows weighed on risk appetite.
Foreign investors sold shares worth 47.81 billion rupees ($529.3 million) on Wednesday, per provisional data. They have offloaded $2.11 billion so far in January, continuing the record sell-off seen in 2025.
STOCKS TO WATCH
** ICICI Prudential Asset Management Company reports a steep rise in third-quarter profit, helped by robust domestic capital inflows
** HDB Financial Services registers 36% jump in third-quarter profit, supported by robust loan demand, with asset quality holding steady sequentially
** Engineering research and development firm L&T Technology cuts fiscal year 2026 revenue forecast after reporting lower-than-expected revenue for December quarter due to subdued business in its mobility segment
($1 = 90.3220 Indian rupees)
