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

Asian stocks were mixed Friday as traders evaluated risks from the omicron virus strain, while Treasury yields pared a climb spurred by Federal Reserve comments about a quicker reduction in stimulus.

Equities fluctuated in Japan, fell in South Korea and rose in Australia. China and Hong Kong face headwinds: Chinese shares traded in the U.S. slid over the risk of delisting for flouting disclosure rules, while developer Kaisa Group Holdings Ltd. failed to win approval for a debt swap, highlighting property-sector woes.

U.S. futures retreated, continuing a choppy week for investors. Dip buyers returning to U.S. 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 a bid for U.K. telecom group BT Group PLC.

Maruti Suzuki has said that it will be hiking vehicle prices in January 2022. It said that over the past year, the cost of the company's vehicles continue to be adversely impacted due to an increase in various input costs. Therefore, it has become imperative for the company to pass on some impact of the additional costs to customers through a price hike.

Treasury yields dipped, retracing some of their jump in the U.S. on Thursday. Fed officials laid out the case for faster removal of policy support amid high inflation. The dollar was steady. Crude was higher after OPEC+ proceeded with an output hike but left room for quick adjustments.

Volatility in financial markets remains elevated, reflecting the Fed’s shift toward less generous monetary settings and uncertainty about how the omicron outbreak will affect global reopening. Some worries about the new strain have receded in the hope that vaccines will remain effective or can be adjusted.

(Bloomberg contributed to the story)

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