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The benchmark S&P 500 opened slightly higher on Thursday following strong gains in the previous session, as investors assessed softer-than-expected retail sales data and a set of strong bank earnings.

Infosys reported better-than-expected revenue and net profit growth for Q4 2024, increased its FY25 revenue guidance, and plans to hire more freshers. The steady recovery in discretionary spending, rising deal flow, and AI platform development are expected to drive sustained business momentum.

Reliance Retail Q3 Results: The Q3FY25 revenue from operations stood at Rs 79,595 crore, reflecting a 7% rise from Rs 74,373 crore posted in the corresponding quarter of the previous financial year.

Banking and auto stock rallies led indices higher for the second consecutive session on Thursday. Sensex gained 318.74 points to close at 77,042.82, while Nifty rose 98.60 points to settle at 23,311.80.

UBS predicts that the Budget’s focus on fiscal discipline may dampen market sentiment, particularly if FY26 capital expenditure remains unchanged at Rs 11 trillion, similar to FY25. This could negatively impact infrastructure-heavy sectors like Larsen & Toubro and core infrastructure firms, as their reliance on domestic orders, coupled with limited overseas opportunities, makes subdued public capex a potential challenge for growth.

The rally was driven by a decline in U.S. inflation in December, raising expectations of additional interest rate cuts by the Federal Reserve.

Waaree Renewable Technologies reported a 16.7% YoY net profit decline to ₹53.50 crore for Q3 FY24, despite a 12.4% income rise. The company announced a ₹1/share interim dividend and saw its stock drop 7.2% amid CFO resignation and market volatility.

The Nifty IT index closed 0.49 per cent at 43188.85.