Once the Nifty crossed its recent swing high of 25,448 on Thursday, there was no stopping the index, as it went on to scale not only 25,500, but also 25,600 in the process. 25,625 is now the new swing high for the Nifty. The index to watch today though, is the Nifty Bank, as it is now just 200 points away from its all-time high of 57,628. At one point on Thursday, it was only 100 points away.
Today is an earnings-heavy day, led by index heavyweight Reliance Industries, which will report after market hours.
Over 40 important companies report results today, including Polycab, Havells India, JSW Steel, REC, IndiaMART, Tata Technologies, Dixon Technologies, Bank of India, CEAT among others. There will also be earnings reactions from Infosys and Wipro, ADRs of which fell 2.5% each overnight. Jio Financial Services, Metro brands, LTIMindtree, Cyient, among others will also be reacting to results.
Watch this space for all the live updates.