Market Ahead, January 9: Top factors that could guide markets today


The news overnight on the US-Iran front is set to push the domestic indices higher today as oil prices recede to their cheapest level since mid-December.
The United States and Iran backed away from the brink of further conflict in the Middle east as US President Donald Trump said Iran’s missile strikes had not harmed any Americans and that Tehran appeared to be "standing down". On its part, Iran has offered no immediate signal it would retaliate further to the January 3 strike.
Oil reversed its gains and now sits cheaper than it was before the killing of the Iranian commander, Qassem Soleimani. Brent futures nursed overnight losses of 4 per cent to trade at $65.44 per barrel.
Besides this, investors will now shift their focus to the December quarter results and pre-Budget newsflow. Stock-specific development, the Rupee's trajectory, and foreign fund flows will also affect sentiment.
Shares of Bharti Airtel will be in focus today as the wireless telephony major has begun marketing its $2-billion equity issuance to institutional investors. The fundraising is meant to pay the AGR dues to the central government within the January 23 deadline set by the Supreme Court. The company will also raise an additional $1 billion as convertible bonds due in 2025. Readmore

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