The S&P BSE Sensex traded rangebound on Friday after weak ecport data raised concerns over the underlying weakness of the economy even though most of the other emerging markets were trading with a positive bias.
The Nifty50 also came under pressure but was still trading above its crucial psychological support level of 8,150.
Reliance IndustriesBSE 0.69 %, the oil & gas major, is expected to report 3.2 per cent rise in net profit to Rs 5,926 crore for the quarter ended September 30, compared to Rs 5,742 crore reported in the year-ago period.
Most other Asian markets traded with smart gains taking cues from the rally seen in US markets. Japan's Nikkei rose 1.3 per cent while Taiwan traded higher by 0.1 per cent. Hong Kong's Hang Seng index gained 0.7 per cent while China's Shanghai Composite was up 1.2 per cent.
US stocks rallied on Thursday after US Jobless claims succumbed to their lowest levels in 42 years, data released by the US Commerce Department on Thursday showed. The uneployment claims fell by 7,000 to 255,000 in September beating estimates. The data along with a 1.8 per cent core CPI inflation helped pacify investors concern over US economy while also bring forward the expected timeline of a rate hike by the US Federal Reserve. Read More - Free Nifty Tips
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