Home >Markets >Stock Markets >Markets likely to open marginally lower; Srei, Airtel, Hindalco in focus

MUMBAI: Indian markets are likely to open marginally lower on Friday tracking losses in SGX Nifty and mixed Asian markets.

Asian equities are mixed on the final trading day on the week, despite gains on Wall Street overnight. Benchmark indices gained in Japan, fluctuated in South Korea and declined in Australia.

Overnight, US markets rallied on Federal Reserve chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation.

Oil prices edged higher, treasury 20-year bonds outperformed while the US dollar held losses.

On Thursday, Indian equities erased most of the morning gains and closed marginally higher amid concerns of economic growth after more states joined localised lockdown on continued rising covid virus cases.

“Going ahead, Indian markets are likely to track global cues along with the earnings season which would kick start from next week and would keep markets volatile" said Motilal Oswal in a note to its investors.

On stock front, SREI Infrastructure Finance will be in focus after its arm SREI Equipment Finance got expression of interest from US-based Arena Investors and Singapore's Makara Capital Partners for capital infusion worth $250 million.

Bharti Airtel will be in the limelight on the news reports that the department of telecom (DoT) plans to slap Videocon Telecommunications’ adjusted gross revenue (AGR) dues of 1,376 crore on Bharti Airtel.

Hindalco Industries will be in focus after its subsidiary Novelis Inc has committed to becoming a net carbon-neutral company by 2050 or sooner and reducing its carbon footprint 30% by 2026.

(Bloomberg contributed to this story)

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