Indian shares set to open flat; IT stocks in focus
Indian shares are likely to open little changed on Friday, while focus will be on IT stocks after Infosys 
INFY1! beat quarterly earnings estimates and raised its annual revenue forecast.
The GIFT Nifty (GIFc1) was at 24,856 points as of 7:55 a.m. IST, suggesting that the NSE Nifty 50 
NIFTY will open near its Thursday close of 24,800.85.
IT stocks 
CNXIT have driven gains in the Nifty and S&P BSE Sensex 
SENSEX over the last four sessions after strong earnings from Tata Consultancy Services 
TCS, HCLTech 
HCLTECH and LTIMindtree 
LTIM, and rising hopes of a U.S. rate cut in September.
Infosys will be in focus after its U.S.-listed shares jumped 8.38% overnight. India's second-largest IT services firm on Thursday raised its fiscal year 2025 revenue growth outlook to 3%-4% from 1%-3%, helped by demand recovery.
Besides earnings, the federal budget due on July 23 will also be crucial to sustain the ongoing markets rally, according to analysts.
India's budget could be positive for consumer, infrastructure, real estate, housing finance and auto companies helped by higher government spending to boost consumption, while maintaining focus on capex, according to brokerages.
Meanwhile, broader Asian shares dropped amid uncertainty across the geopolitical landscape and in major economies, and a weaker finish in U.S. equities overnight.
STOCKS TO WATCH
* Tata Technologies TATATECH: Co reported a fall in first-quarter profit, hurt by declining revenue from its services segment and higher expenses.
* Shoppers Stop 
SHOPERSTOP: Co swung to a quarterly loss as high inflation weighed on consumer spending on discretionary products, including apparel and beauty products.
* Earnings: Paytm 
PAYTM, Reliance Industries 
RELIANCE1!, UltraTech Cement 
ULTRACEMCO, JSW Steel 
JSWSTEEL, Wipro 
WIPRO
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