Nifty, Nikkei and Kospi Move in Lockstep with RIL's Q4 Earnings

Asia-Pacific Markets Remain on Edge as Crude Oil Prices Hover Above $100 a Barrel

Markets across the Asia-Pacific region remained on edge as crude oil prices hovered above $100 a barrel following US President Donald Trump's announcement of a three-week truce extension between Israel and Lebanon. Despite Trump's statement that he is under no pressure to reach a resolution with Iran, the "clock is ticking" for Tehran, which failed to calm investors. This nervousness was visible in early trade in both South Korea and Hong Kong.

Indian Market Focus Shifts to Quarterly Earnings

In India, the focus will shift to quarterly earnings, with Infosys already reporting its March quarter results. Reliance Industries is set to announce its Q4 numbers today.

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Key Morning Cues for Indian Equity Markets

Ahead of the Indian market opening, here are the key morning cues to note:

• The GIFT Nifty is trading higher at around 24,230, indicating a positive start for Indian equity markets today.
• On Thursday, domestic equities remained volatile as they extended losses for a second straight session. At the close, the Sensex fell 852.49 points, or 1.09 percent, to 77,664, while the Nifty declined 205.05 points, or 0.84 percent, to 24,173.05.

Reliance Industries Q4 Results

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Reliance Industries Ltd is expected to post steady fiscal fourth-quarter earnings despite the war in West Asia, a key source of global crude supply. Analysts estimate revenue at Rs 2.81 lakh crore and net profit at Rs 16,943.5 crore.

Asia-Pacific Stock Markets

Barring Japan's share market, most of the stock markets in Asia Pacific remain in the red on Friday morning. The key stock market indices are:

Japan's Economic Data

Japan's core consumer prices excluding fresh food rose 1.8% from a year earlier in March, according to government data. This topped the median economist estimate of 1.7% and compared with a 1.6% advance in the prior month. A slowing in the decline of gasoline prices supported the index, a Bloomberg report said.