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MUMBAI: Markets are likely to be steady on Friday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Thursday, the BSE Sensex ended at 52,699, up 392.92 points or 0.75%. The Nifty was at 15,790.45, up 103.50 points or 0.66%.

Asian stocks opened in the green Friday after US shares hit a record on a bipartisan $579 billion U.S. infrastructure deal that stoked economic optimism. The dollar held a retreat.

Shares climbed in Japan, South Korea and Australia, and Hong Kong futures pointed higher. US contracts were little changed after the S&P 500 and Nasdaq 100 reached new peaks. Sectors seen as beneficiaries of the recovery from the pandemic, such as energy, led gains. U.S. banks rose in postmarket trading after clearing stress tests.

US President Joe Biden celebrated the bipartisan plan, which is expected to move through Congress alongside a separate bill that would spend trillions more on what he called “human infrastructure." It’s not yet assured either measure will get enough wider lawmaker support given the political splits in the U.S.

Reliance Industries Ltd (RIL) pledged to invest 75,000 crore in clean energy, becoming the latest oil company to announce a mega push into renewables as the environmental impact of fossil fuels comes under increasing scrutiny from investors and regulators.

The Reserve Bank of India (RBI) on Thursday put in place certain conditions for non-banking financial companies (NBFCs) to pay dividends to shareholders from the financial year ending 31 March 2022.

State-owned Indian Bank on Thursday said it has raised 1,650 crore through the QIP launched earlier this week.In March this year, the committee of directors of capital raising of the bank (committee) had accorded approval for raising equity capital aggregating up to 4,000 crore through QIP in one or more tranches.

Among key companies Indraprastha Gas, JSW Energy, Hindustan Copper, Finolex Industries, Shree Renuka Sugars, PNC Infratech, Godfrey Phillips, Railtel Corporation of India, Barbeque Nation and Inox Winds will announce their March quarter results today.

The benchmark 10-year US Treasury yield was little changed after climbing over the week. Investors took the latest comments from Federal Reserve officials in their stride, after the central bank reassured on supportive policy while signaling that exceptional stimulus is set to be trimmed gradually.

An MSCI Inc. gauge of global stocks is on course for its best week since April, underpinned by the economic reopening from the health crisis. Risks such as faster inflation, the prospect of tighter monetary policy and more infectious coronavirus variants have yet to sap sentiment materially.

The Mexican peso rallied, spurred by an unexpected central bank interest-rate increase. But the Bank of England pushed back against speculation that a surge in UK inflation heralds higher borrowing costs. The pound edged lower.

West Texas Intermediate crude oil stayed above $73 a barrel. Traders are awaiting upcoming deliberations among OPEC+ producers that may lead to a supply hike. Bitcoin extended a rebound from a swoon earlier in the week.

(Bloomberg contributed to the story)

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