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The debt-ridden telecom operator Vodafone Idea said its board has approved raising up to Rs 14,500 crore, including Rs 4,500 crore from promoter entities

Shares of Grab, which was reporting its first quarterly earnings since going public in December, skidded to their lowest ever. They have lost nearly three-quarters in value since their debut.

On Thursday, JP Morgan analysts said Brent would have to rise to $120 a barrel "and stay there for months to incentivize demand destruction."

“Aluminium prices globally are at an almost eight-year high. Same is the case with some of the other commodities like steel. Some of these stocks have already run up and hence fresh entry can only be suggested for short-term traders. For investors, any sharp cooloff or correction could be a good entry opportunity. For 2022, commodities would continue to remain in momentum.”

All of the top digital tokens were bleeding on Friday. Ethereum and Solana tumbled 7 per cent each, whereas Avalanche and Cardano dropped 6 per cent each. Bitcoin, Shiba Inu and Dogecoin shed 5 per cent each.

“There is valuation risk in the market even though markets are down around 2,000 points in terms of Nifty. No one actually knew that crude is going to $120. We are still going to see some margin squeeze and growth could get impacted going forward. I would think that this is the time to be cautious and we cannot say that just because price action of 2,000 points has happened in the Nifty. We could still see some further downside over the next few weeks.”

“I am getting more into spaces where there is a good amount of visibility of earnings which are not impacted by domestic demand or rising input prices and there are only a few of those businesses. That is where one may hide for the next few months or so. It is too simplistic to say just buy at every correction. If the crisis lasts longer, it will test everybody’s patience and we are not even talking about the relentless selling which is coming from FIIs.“

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 94737.49 Crore) operating in Auto sector.

Gold futures on MCX were trading higher by 0.48 per cent or Rs 251 at Rs 52,021 per 10 grams. Silver futures were trading up 0.45 per cent or Rs 306 at Rs 68,210 per kg.

"The more Nifty consolidates around 16,400-16,500 and fails to sustain at higher levels, it increases the probability of triggering one more round of sell-off to test 16,200 or may even slide below that as well," said Sameet Chavan of Angel One.