Markets Set Top Open Higher; Reliance Industries, Future Retail In Focus

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NDTV News


The domestic equity benchmarks are set to open higher on Thursday as indicated by Nifty futures on the Singapore Exchange. The Singapore Nifty futures also known as the SGX Nifty rose 0.4 per cent or 58 points to 14,702. In Wednesday’s session, the Sensex and Nifty closed at new record highs led by gains in auto and information technology shares.

Meanwhile, Global equity benchmarks rose to new record highs and oil prices rose on Wednesday as investors moved into riskier assets in anticipation of further U.S. stimulus under the new Biden administration to mend the economic damage of the coronavirus pandemic.

U.S. President Joe Biden, who was sworn into office on Wednesday, last week laid out a $1.9 trillion stimulus package proposal to boost the economy and speed up the distribution of vaccines.

U.S. Treasury Secretary nominee Janet Yellen urged lawmakers to “act big” to save the economy and worry about debt later at a confirmation hearing Tuesday.

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Back home, Reliance Industries will be in focus after SEBI on Wednesday night granted approval to Reliance Industries’ Rs 24,713-crore deal to buy Future Group’s retail assets, in a blow to Amazon’s efforts to block the agreement. The BSE also granted its “no adverse observation” report to the deal clearance from the market regulator, with some riders.

Bajaj Finance reported a 29 per cent year-on-year (y-o-y) decline in consolidated net profit at Rs 1,145.98 crore for the three months to December due to higher losses and provisions.

UltraTech Cement will consider a proposal for raising funds at its board meeting scheduled on January 23.



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