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Sensex Today | Stock Market LIVE Updates: US stocks ended sharply higher on Friday and the S&P 500 registered an all-time closing high as strong earnings and a blowout January employment report boosted confidence in the economy, even while lowering the likelihood that the Federal Reserve will cut interest rates any time soon.
February 05, 2024 / 07:39 am IST
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Stock Market Today
Moneycontrol.com
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February 05, 2024 / 07:39 AM IST
Sensex Today | Asian markets trade mostly lower; Straits Times, Kospi down 1% each, Nikkei up 0.5%
Asian markets were trading mostly lower as investors awaited policy decisions from key central banks, including from the Reserve Bank of Australia on Tuesday and the Reserve Bank of India on Thursday.
On Monday, private surveys on service sector activity will be released from China and Hong Kong. Singapore will also release its retail sales figures for December, while Thailand will see its inflation numbers out for January.
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February 05, 2024 / 07:37 AM IST
Sensex Today | India raises windfall tax on petroleum crude to 3,200 rupees/tonne
India increased its windfall tax on petroleum oil to 3,200 rupees per tonne from 1,700 rupees on Saturday, while keeping the windfall tax on diesel and aviation turbine fuel at zero, the government said late Friday.
On January 16, the government reduced the windfall tax on petroleum crude from 2,300 rupees per tonne.
From July 2022, India placed a windfall tax on crude oil producers and increased the charge on petrol, diesel and aviation fuel exports since private refiners preferred to sell fuel overseas to profit from high refining margins rather than selling locally. It adjusts the tax every two weeks.
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February 05, 2024 / 07:35 AM IST
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February 05, 2024 / 07:32 AM IST
Sensex Today | RBI likely to hold rates until mid-year, first cut in Q3 2024: Reuters poll
The Reserve Bank of India will hold its key interest rate steady at 6.50% on Feb. 8, according to economists polled by Reuters who expected the central bank to keep rates unchanged until at least July, longer than some developed market central banks.
After hiking its repo rate by a cumulative 250 basis points – much less than most of its major peers – the RBI has kept it untouched since February 2023 as inflation largely remained within the bank’s 2%-6% target range.
A few weeks ago, RBI chief Shaktikanta Das expressed confidence current monetary policy could bring inflation back to its 4% medium-term target.
But with inflation close to the upper band of the target range and India holding onto its title of fastest-growing major economy, a rate cut is unlikely anytime soon.
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February 05, 2024 / 07:30 AM IST
Sensex Today | S&P 500 surges to record closing high on solid earnings, robust data
US stocks ended sharply higher on Friday and the S&P 500 registered an all-time closing high as strong earnings and a blowout January employment report boosted confidence in the economy, even while lowering the likelihood that the Federal Reserve will cut interest rates any time soon.
The rally capped a tumultuous week filled with high profile earnings, a Fed rate decision, and renewed jitters over regional banking weakness.
Solid quarterly results from Meta Platforms, opens new tab and Amazon.com, opens new tab helped boost the S&P 500 index, opens new tab and the Nasdaq Composite Index, opens new tab over 1%, while the blue-chip Dow Jones Industrial Average’s, opens new tab gain was more muted.
All three major U.S. stock indexes notched their fourth consecutive weekly gains.
The S&P 500 climbed 1.07% to end the session at 4,958.61 points. The Nasdaq gained 1.74% to 15,628.95 points, while Dow Jones Industrial Average rose 0.35% to 38,654.42 points.
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February 05, 2024 / 07:28 AM IST
Market on Friday:
Taking Stock: Nifty hits new high, Sensex up 440 points; oil & gas shine, banks a drag
After a muted reaction to the Interim Budget in the previous session, the market posted solid gains on February 2, with Nifty hitting a new high of 22,126.80 and the Sensex rallying more than 1,400 points.
The benchmarks gave up some of the gains to close off the day’s high. The Sensex ended 440.33 points, or 0.61 percent, at 72,085.63, and the Nifty 156.30 points, or 0.72 percent, at 21,853.80.
On the back of positive global cues, the market opened higher and extended the gains as the day progress but profit-booking at higher levels erased some of the gains.
The Sensex settled 1,003.77 lower from the day’s high of 73,089.40, while Nifty index shed 273 points from the high of 22,126.80.
The Nifty Bank index slipped in to red (down 0.5 percent) at 45,970.95, after hitting high of 46,892.35, intraday.
The market posted biggest weekly gains in two months, as the Sensex and the Nifty rose 2 percent each in this Budget week.
Top gainers on the Nifty were BPCL, Power Grid Corporation, ONGC, Adani Ports and NTPC, while losers were Eicher Motors, Axis Bank, HDFC Life, HDFC Bank and HUL.
Among sectors, oil & gas index was up 4 percent and information technology, metal, realty and power indices gained up to 2 percent each, while the banking index was down 0.5 percent.
The BSE midcap index closed 0.8 percent and smallcap index 0.5 percent higher.
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February 05, 2024 / 07:26 AM IST
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February 05, 2024 / 07:25 AM IST
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