Market likely to remain cautious; RIL, Maruti in focus

Markets are likely to be cautious While on Friday the trends in SGX Nifty suggest a negative opening for the Indian benchmark indices. On Thursday, the BSE Sensex closed at 58,461.29, up 776.50 points or 1.35%. Nifty was up 234.75 points or 1.37% at 17,401.65.

Asian stocks were mixed on Friday as traders assessed risks from the Omicron virus strain, while Treasury yields were driven by comments by the Federal Reserve about a sharp reduction in stimulus.

Equities fluctuated in Japan, declined in South Korea and rose in Australia. China and Hong Kong face headwinds: Chinese stocks traded in the US slipped at risk of delisting for violation of disclosure rules, while developer Casa Group Holdings Ltd failed to get approval for debt swaps, highlighting asset-sector woes have failed.

US futures prices fall, week volatility continues for investors. Returning dip buyers in US stocks sensitive to the economic outlook fueled the S&P 500’s best climb since October.

Reliance Industries Ltd on Monday denied that it was considering bidding for UK-based telecom conglomerate BT Group Plc.

Maruti Suzuki has said that it will increase the prices of the vehicles in January 2022. It said that in the last one year, the cost of vehicles of the company is being adversely affected due to increase in various input costs. Therefore, it has become imperative for the company to pass on some of the impact of the additional cost to the customers by way of price hike.

Treasury yields fell, retracing some of their jumps in the US on Thursday. Fed officials made the case for a swift removal of policy support amid high inflation. The dollar was stable. Crude was higher after OPEC+ moved ahead with production growth but left room for quick adjustments.

Financial markets remain volatile, reflecting the Fed’s shift toward less liberal monetary settings and uncertainty about how the Omicron outbreak will affect the global reopening. Some concerns about the new strain have subsided in hopes that the vaccines will remain effective or may be adjusted.
 

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