PremiumIndian indices are likely to start with marginal gains on Friday, as indicated by trends in SGX Nifty. Asian markets were mixed as investors worried about the effect of rising interest rates, while US stocks ended with gains. Crude oil prices edged lower and bond yields rose. In India, investors would be closely eyeing the RBI policy meeting outcome for further cues.
Here is the list of top 10 stocks that will be in focus on Friday:
The government must keep reserve prices of 5G airwaves at least 50% lower than present levels, said telecom analysts. It must also consider a steeper cut for the 700 Mhz band, to ensure greater proliferation of 5G, as it will be the primary band for pan-India services, they said. (Full report)
Indian benchmark indices are likely to open flat on Friday tracking SGX Nifty. Amid fresh worries about a hawkish US Federal Reserve, Nifty and the Sensex ended 0.94% and 0.97%, lower respectively on Thursday. Markets are expected to remain volatile on Friday as participants would react to the outcome of the RBI's MPC meeting. “We expect MPC to maintain the status quo on rates. However, commentary on inflation and growth would be actively tracked," Ajit Mishra, vice-president of research, Religare Broking Ltd.
Asian stocks and U.S. equity futures struggled to make headway Friday as the Federal Reserve’s plan for aggressive policy tightening and China’s Covid lockdowns hung over markets.
Nikkei started marginally higher; South Korea’s Kospi index lost 0.2%; Australia’s S&P/ASX 200 index was 0.6% higher; Hong Kong’s Hang Seng index declined 0.2%; China’s Shanghai Composite index rose 0.2%
A late-afternoon rebound led by technology companies helped drive stocks higher on Wall Street Thursday, lifting the market from an early slide. The S&P 500 rose 0.4%, its first gain after a two-day slump. The Dow Jones Industrial Average rose 0.3% and the tech-heavy Nasdaq managed a 0.1% gain.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!