The equity benchmarks were set to open lower on Friday as investors awaited election results from Bihar to gauge the ruling alliance’s popularity, while fading hopes of a near-term US rate cut dampened sentiment.

Gift Nifty futures were trading at 25,845.5 points, as of 7:37 a.m. IST, indicating that the Nifty 50 would open below Thursday’s close of 25,879.15.

Both the Nifty and the Sensex closed flat on Thursday, after rallying 1.5 per cent in the previous three sessions.

“Friday’s session may see heightened volatility due to the Bihar election outcome,” said Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services.

Exit polls showed the ruling National Democratic Alliance was on track to retain power in Bihar, but any surprise loss could trigger a

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