European shares opened higher on Friday, lifted by an 8% jump in Glencore that put the STOXX 600 on track for its longest weekly winning streak since May.
Goldman Sachs has raised its 12-month target price for Reliance Industries ahead of its Q3 results, citing strong refining momentum and steady telecom growth offsetting near-term retail softness. The brokerage reiterated its Buy rating, expecting stable medium-term earnings supported by tight refining markets, rising Jio contribution, and improving cost dynamics.
Bitcoin hovered near the $90,000 level as investors awaited US jobs data and a Supreme Court ruling on global tariffs. The broader crypto market traded mixed, with analysts highlighting consolidation, ETF outflows and cautious sentiment amid geopolitical and trade-related uncertainty.
Auto stocks are outperforming the broader market in FY26, with the BSE Auto index up 32%. SML Mahindra and Force Motors have emerged as multibaggers, while strong demand and earnings visibility continue to support sector-wide momentum.
Japan's Nikkei share average closed higher on Friday. Fast Retailing's strong earnings fueled the rise. Automakers also saw gains due to a weaker yen and relief over China's export policy. The Nikkei climbed significantly for the week. Investors are now focused on US jobs data and its impact on monetary policy. Yaskawa Electric's results are also anticipated.
Why is the stock market falling? Indian equities extended losses for a fifth straight session, as global trade tensions and uncertainty over U.S. tariffs kept investors cautious. Markets are focused on the U.S. Supreme Court verdict on Trumps tariffs, which could have a major impact on IndiaU.S. trade relations and domestic market sentiment.
The US Supreme Court ruling on Trump-era tariffs could spark sharp gains or deepen volatility in Sensex and Nifty. India faces double exposure with 50% tariffs and a potential 500% levy on Russian oil imports, affecting trade and corporate profits.
Indo SMCs Rs 91.95 crore SME IPO, backed by Ashish Kacholia, opens January 13. The issue has a strong grey market premium and healthy order book, with proceeds aimed at plant expansion, working capital, and corporate purposes.
Nifty breached key support levels near 25,980 and 25,878, signalling a shift from bullish to bearish sentiment. Traders are advised to use a Bear Put Spread strategy to capitalise on the downward bias, with resistance at 26,10026,200 and support at 25,75025,700.
