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On the global front, Russia has signed a decree on transferring payments for gas with “unfriendly countries” in Rubles. Existing contracts for gas delivery will hence be stopped if buyers from these countries do not fulfil new terms, which go into effect from Friday. Hence the supply shortage fears for Europe is looming larger than before.
Back home, among likely buzzing stocks, Future Retail may be in focus as its CEO Sadashiv Nayak has quit the troubled company seven months after his appointment; while the group companies reportedly defaulted on payments.
Further, Hero MotoCorp will also be eyed as the I-T department has found Rs 800 crore siphoned off via shell firms by the company in its probe.
Global cues
The US markets slumped on Thursday to close the quarter with biggest quarterly losses in two years amid persisting concerns on the Ukraine war, high inflation and Fed policy. The Dow Jones, S&P 500 and Nasdaq plunged over 1.5 per cent, each.
Asian markets were largely seen in red on Friday morning. Hang Seng shed 1.4 per cent. Nikkei, Kospi and Taiwan were down 0.8 – 1 per cent, each. Shanghai Composite slipped 0.4 per cent. Straits Times, however, was flat.
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