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“The bigger and more extreme sanctions have not been imposed, which is targeting financial institutions and banks in Russia and cutting them off from ruble convertibility and US dollar settlement. If that happens, the oil market in particular will start pricing in retaliatory measures from Russia. We believe that the market is going to start pricing oil up to about $110 average in the second quarter and that might go down to about $100 in the third quarter. In the middle of the quarter it could spike to $120.”

Russia’s central bank and private sector have almost $1 trillion of liquid wealth, with a much larger share of this held in U.S. dollars than most people realize, even after the country sold all its Treasuries holdings in 2018, Pozsar wrote.

Questioning the definition of bull and bear markets, Vijay Kedia said everybody defines it according to their own portfolios.

For the quarter under review, the company’s sales rose 35.49 per cent to Rs 644.15 crore as against Rs 475.43 crore during the previous quarter ended December 2020, reports said.

The market capitalisation of BSE-listed companies jumped to Rs 2,49,39,482.35 crore, recording a gain of Rs 7,15,302.56 crore compared to the level when the counters closed on Thursday.

Prashant Jain said the market would stabilise in the short term if sanctions on Russia are not harsh.

After shedding around 1.5 per cent against the US dollar on Thursday, the rupee regained some ground on Friday as domestic equity markets bounced back after a brutal selloff and as traders pinned their hopes on the Reserve Bank of India expending some of its formidable foreign exchange reserves.

Promoters held 37.4 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 18.16 per cent and 0.02 per cent, respectively.

The stock quoted a 52-week high price of Rs 604.0 and a 52-week low of Rs 331.25.

“Yesterday was the first time when the entire retail trader universe actually believed that markets can actually fall. Till that time, there was a belief that Indian markets will not fall. They will just keep on bouncing back. People should be cautious. They should invest very slowly if they have to at all. ”