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Indian shares set to snap 4-day gaining streak, Reliance earnings eyed

BENGALURU, April 30 (Reuters) - Indian shares stepped back on Friday after four straight sessions of gains that set them on course for their strongest week since early-February, with earnings of Reliance Industries, the country’s most valuable company, in focus.

The NSE Nifty 50 index fell 0.78% to 14,778.9 by 0349 GMT, while the benchmark S&P BSE Sensex slipped 0.84% to 49,345.57. Both the indexes are likely to close the week around 3% higher on gains from upbeat earnings reports.

Reliance was marginally lower ahead of its quarterly results. The stock is up more than 6% this week, as of its last close.

Wipro climbed as much as 4% to a record high after the IT firm raised its outlook for June-quarter IT services revenue following the close of an acquisition.

Benchmark Nifty 50 component IndusInd Bank is also due to report earnings later in the day. (Reporting by Chris Thomas in Bengaluru; editing by Uttaresh.V)

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