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A recovery in global markets is likely to cheer domestic equity markets on Thursday. However, renewed fears of covid-19, tepid foreign flows, and rising crude oil prices may weigh indices.
Globally, the US stock markets edged higher overnight, supported by strong quarterly results and improved investor sentiments. All major indices in Wall Street – Dow Jones, NASDAQ Composite, and the S&P 500 closed above 1 per cent.
Markets in Asia-Pacific, meanwhile, were mixed this morning as Nikkei 225, Topix, Kospi, and Shanghai Composite indices fell up to 0.6 per cent. The S&P 200, and Hang Seng indices, however, rose up to 1 per cent.
In the commodities market, prices of Brent Crude and WTI Crude rose up to 0.3 per cent to $82 per barrel, and $78 per barrel, respectively, due to fall in US crude inventories.
Back home, shares of Reliance Industries will be in focus after retail arm Reliance Retail acquired a complete stake in METRO Cash & Carry India for Rs 2,850 crore.
Besides, shares of Glenmark Pharma will be tracked after the company launched triple fixed-dose combination Teneligliptin with Pioglitazone and Metformin in India for diabetic patients.
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