Share Market HIGHLIGHTS: Indices end in negative territory post-Interim Budget; Sensex falls 107 pts, Nifty settles at 21,697.45
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty and Sensex ended lower on Thursday, February 1, after Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 ahead of the general elections (Lok Sabha polls). Catch all the market action on Dalal Street on January 31, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty and Sensex ended lower on Thursday, February 1, after Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 ahead of the general elections (Lok Sabha polls). Both the indices closed over 0.1 per cent lower. The S&P BSE Sensex settled 106.81 points lower at 71,645.3, while the NSE Nifty50 slid 28.25 points to 21,697.45.
Meanwhile, in the broader market, the Nifty Mid Cap 100 closed over half a per cent lower, while the Nifty Small Cap 100 closed 0.63 per cent stronger. High-beta Nifty Bank closed 0.42 per cent higher at 46,188.65.
Also Read | Union Budget 2024 LIVE Updates: Full list of what gets cheaper and what gets costlier?
Catch all the latest updates about the February 1st session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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CLOSING BELL | Indices end flat with negative bias post-Interim Budget; Sensex falls 107 pts, Nifty settles at 21,697.45; Paytm down 20%
Share Market Today LIVE | Stocks of solar solutions providers rally post Budget announcement
Shares of solar solution providers—KPI Green Energy and Sterling and Wilson—climb in the afternoon trade on Thursday after Finance Minister Nirmala Sitharaman announced rooftop solarisation to ensure free electricity of up to 300 units per month for one crore households.
KPI Green Energy stock rallies 9.50 per cent to reach its 52-week high of Rs 1,997.15 on the BSE.
Shares of Websol Energy System climbs 4.99 per cent to hit its one-year peak of Rs 388.15, Sterling and Wilson Renewable Energy jump 4.16 per cent and Adani Green Energy advanced 2.14 per cent.
In her Budget speech, the FM mentioned about rooftop solarisation to ensure free electricity of up to 300 units per month to one crore households, leading to household savings of Rs 15,000-18,000 annually.
Share Market Today LIVE | Agri shares trade mixed bag after Nirmala Sitharaman's Interim Budget 2024 speech; this stock hits a 52-week high
With agriculture being one of the focus areas of the National Democratic Alliance (NDA), Finance Minister Nirmala Sitharaman made a number of announcements related to the agri sector during her Interim Budget speech on Thursday (February 1, 2024). Among some of the major developments in the agri sector, the finance minister estimated the fertiliser subsidy to be Rs 1.64 lakh crore in the Financial Year 2024-25, which would be less than Rs 1.89 lakh crore earmarked for the current financial year (FY23-24).
Sitharaman said that the government and private investment in post-harvest activities would increase.
In the backdrop of such important developments, let's see how agri stocks have been performing on BSE today.
Apex Frozen
The stock of the fisheries company is trading up by 3.74 per cent, or Rs 10.20, at Rs 264.00 on BSE.
Avanti Seeds
Avanti Seeds also rises by 3.57 per cent, or Rs 18.60, at Rs 539.75 in afternoon trades.
Godrej Agrovet
The stock of the diversified agribusiness company hit a 52-week high of Rs 581.60 on Thursday. It is trading up by 2.63 per cent, or Rs 14.60, at Rs 569.9 on BSE.
Patanjali Foods
Despite many of its counterparts trading in positive territory after the finance minister's speech, the stock of Patanjali Foods slips by 0.80 per cent, or Rs 12.65, at Rs 1570.15.
Coromandel International
A maker of Nano-DAP fertiliser, Coromandel International jumps by 1.57 per cent, or Rs 16.45, at Rs 1067.00.
Chambal Fertilisers & Chemicals Ltd
The stock of the company is trading in negative territory as it slid by 1.17 per cent, or Rs 4.30, at Rs 362.30 on Thursday. Read more
Share Market Today LIVE | Defence stocks trade mixed after FM announces increase in budget allocation for the sector
Defence stocks are trading mixed in the afternoon trade after Finance Minister Nirmala Sitharaman enhanced the budget allocation for the defence sector for FY25 to Rs 6.22 lakh crore in FM's Interim Budget 2024 speech, according to Zee Business. Post-development, here's how defence stocks are reacting.
Bharat Electronics share price
State-owned Bharat Electronics Ltd (BEL) shares trade at Rs 182.5, down Rs 3.4, or 1.83 per cent, on the NSE.
Hindustan Aeronautics share price
Hindustan Aeronautics Ltd (HAL) shares trade 0.6 per cent, or Rs 18.1, lower at Rs 2,981.3 on the NSE.
Data Patterns (India) share price
The integrated defence and aerospace electronics solutions provider trade 2.18 per cent, or Rs 41.55, stronger at Rs 1,947.05 on NSE. Read more
Image/ Unsplash/ Representational image Share Market Today LIVE | Sun Pharma, Tata Motors hit 52-week highs
As many as four stocks in the S&P BSE basket reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) NTPC 320.95 326.95 325.70 (29 Jan 2024) 326.95 (01 Feb 2024) POWERGRID 267.1 270.9 260.00 (31 Jan 2024) 270.90 (01 Feb 2024) SUNPHARMA 1,404.45 1,438.80 1,438.50 (31 Jan 2024) 3,090.00 (29 Feb 2000) TATAMOTORS 887 901.9 896.65 (31 Jan 2024) 1,381.40 (06 Dec 2010) Share Market Today LIVE | NTPC, Power Grid hit all-time high
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) NTPC 320.95 326.95 325.70 (29 Jan 2024) 326.95 (01 Feb 2024) POWERGRID 267.1 270.9 260.00 (31 Jan 2024) 270.90 (01 Feb 2024) Nifty Today LIVE | Maruti Suzuki, TCS, SBI among top movers in Nifty
Maruti Suzuki, TCS, State Bank of India and Power Grid are the top movers in the Nifty baskets at this hour. On the contrary, L&T, Bharti Airtel and UltraTech Cement are among the top drags.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | Aviation and allied stocks trade mixed as FM proposes ‘UDAN’ scheme on 517 new routes
Aviation-related stocks trade mixed after Finance Minister Nirmala Sitharaman, in her Interim Budget speech on Thursday, February 1, proposed the ‘UDAN’ scheme on 517 new routes connecting tier-2 and tier-3 cities.
Spicejet shares trade with a cut of 1.7 per cent at Rs 63.89, while shares of Interglobe Aviation-operating no-frills air carrier Indigo trade with over 2 per cent gains at Rs 3,022 per share.
“The aviation sector has been galvanised in the past ten years. The number of airports has doubled to 149. The rollout of air connectivity to tier-two and tier-three cities under the UDAN-19 scheme has been widespread. Five hundred and seventeen new routes are carrying 1.3 crore passengers. Indian carriers have pro-actively placed orders for over 1000 new aircraft. Expansion of existing airports and development of new airports will continue expeditiously,” read the budget speech of Nirmala Sitharaman. Read more
Interim Budget 2024 Highlights | From record capex to Vande Bharat trains, key takeaways from FM Nirmala Sitharaman's speech
Finance Minister Nirmala Sitharaman delivered her sixth back-to-back Union Budget in Parliament on February 1, 2024. Here are the highlights of what the FM said as she unveiled the contents of her bahi khata to the country.
Here are the highlights of the Finance Minister's sixth consecutive Budget:
FY25 capex at record Rs 11.1 lakh crore
Revised fiscal deficit estimate for FY24 at 5.8 per cent
FY25 fiscal deficit estimated to be at 5.1 per cent
Aim to contain fiscal deficit at 4.5 per cent by FY26
Three railway corridors for energy, mineral and cement spaces
40,000 train coaches to be transformed into Vande Bharat standard. Read moreShare Market Today LIVE | Maruti Suzuki rise 5% post-Q3 results beat estimates | Time or buy, sell or hold?
Maruti Suzuki India (MSIL) shares take centre stage on Thursday, February 1 after the automaker's third-quarter beat Street's estimates and brokerages' reactions. The stock emerges as the top gainers on NSE rising as much as over five per cent to hit the day's high at Rs 10,699.8, rising for the fourth session straight ahead of the Union Budget 2024 announcement at 11 am by Finance Minister Nirmala Sitharaman.
Maruti Suzuki Q3 results
During market hours on Wednesday, Maruti Suzuki reported a standalone net profit of Rs 3,130 crore for the September- December quarter of the current fiscal (Q3 FY24), up 33.11 per cent year-on-year (YoY) against Rs 2,351.3 crore logged in the corresponding quarter of the previous fiscal. Read more
Share Market Today LIVE | Railway stocks trade mixed bag after Railway gets a boost in Interim Budget
Railway stocks are trading mixed bag after Finance Minister Nirmala Sitharaman made a few important announcements related to train facilities in India. In her Interim Budget 2024 speech on the FM said that the central government would build three railway corridors for energy, minerals and cement. In an important announcement, she said that as many as 40,000 railway coaches will be converted into Vande Bharat standard. At the same time, Metro Rail will be expanded to other cities also.
ZeeBiz goes through the performance of the railway stocks after her announcement.
IRCTC
The stock of the ticket and hotel booking company is trading in positive territory, up by 0.53 per cent, or Rs .20, at Rs 983.55.
RVNL
The stock of Rail Vikas Nigam Limited is trading lower by 1.27 per cent, or Rs 3.90, at Rs 304.40 on BSE.
IRFC
The stock of Indian Railway Finance Corporation is trading down by 0.53 per cent, or Rs 0.93, at Rs 174.1 on BSE.
Titagarh Rail Systems Limited
The stock of the railway coach factory is down by 0.83 per cent, or Rs 9.05, at Rs 1,085 on BSE.
RITES
RITES is trading down by 3.51 per cent, or Rs 26.05, at Rs 717.1 on BSE.
BEML
The stock of the company is trading higher by 2.96 per cent, or Rs 103.80, at Rs 3,609.85 on BSE. Read more
Share Market Today LIVE | Nifty Bank trades nearly 20 pts higher
Post Union budget speech and announcements, Nifty Bank turns positive and trades nearly 20 points higher.
Source: NSE
Share Market Today LIVE Updates | Nifty, Sensex trade flat post Budget speech
Nifty Bank | Nifty Bank trades flat, down 0.08%
Source: NSE
Share Market Today LIVE | Nifty above 21,750, Sensex up nearly 250 pts amid Budget speech
Share Market Today LIVE | Govt to expand EV ecosystem for supporting charging infra; e-buses for public transport network to be encouraged says FM
EXPERT VIEW | Siddhesh Mehta, Research Analyst, Samco Securities
"The government announces a golden era for tech-savvy enterprises, setting a corpus of Rs. 1 lakh crore with a 50-year interest-free loan for long-term financing/refinancing. This strategic financial initiative, featuring low to nil interest rates, aims to scale up the private sector's research and development efforts significantly in sunrise domains. Notably, this infusion is set to fortify deep tech technologies."
Share Market Today LIVE | Indian air carriers pro-actively placed orders for 1,000 new aircraft
Share Market Today LIVE | 40,000 normal railway bogies will be converted to Vande Bharat standard says FM
Share Market Today LIVE | Three major railway corridors, including for cement, to be constructed says FM
Share Market Today LIVE | Capital spending for 2024-25 raised by 11% to Rs 11.11 lakh crore or 3.4% of GDP says FM
Share Market Today LIVE | Govt is focused on more comprehensive GDP, governance, development and performance, says FM
Share Market Today LIVE | Mahindra & Mahindra total vehicle sales rise to 73,944 units in January
Mahindra & Mahindra's total vehicle sales grew 15 per cent year-on-year to 73,944 units in January. The utility vehicle sales stood at 43,068 units in the previous month as against 32,915 vehicles sold in January last year, growing 31 per cent year-on-year, M&M in its filing said. Post the development, the counter trades at Rs 1,685.25, up by Rs 31.4 or 1.9 per cent.
Share Market Today LIVE | Indian economy has staged a strong performance in past 10 years
Dividend, bonus stocks | Havells India, Salasar Techno Engineering, Route Mobile, TIPS Industries and 3 other shares trade ex-date today
A total of eight stocks traded ex-date on Thursday, February 1, according to the NSE website. The list includes Havells India, Salasar Techno Engineering, Route Mobile, TIPS Industries, among others.
CESC dividend
CESC has announced an interim dividend of Rs 4.5 per equity share with a face value of Re 1. The company has fixed February 1 as the record date.
Route Mobile dividend
Route Mobile has announced an interim dividend of Rs 3 per equity share with a face value of Rs 10.
Salasar Techno bonus record date
Salasar Techno Engineering turned the ex-bonus date. The bonus was announced in the ratio of 4:1 with a face value of Rs 1.
Havells India dividend
Havells India has announced an interim dividend of Rs 3 per equity share with a face value of Rs 1. The company has fixed February 1 as the record date. Read more
Share Market Today LIVE | Sensex, Nifty turn flat; Maruti Suzuki up 4%, Dr Reddy's down 2%
Share Market Today LIVE | Sensex up over 200 points as FM begins Interim Budget speech
Markets trade in the green as FM Nirmala Sitharaman begins Interim Budget 2024 speech. Sensex trades at 72,025.83 points, up by 273.72 points. Shares of Powergrid are up over four per cent, Maruti gains four per cent and NTPC is up by two per cent.
Anil Singhvi on Budget | Which levels are important after the budget? here's what market wizard suggests
- Nifty rose 0.5% on both the last Interim Budgets
- 21150-21250 strong support for Nifty
- 21975-22125 upper level for Nifty
- 45550-45675 and 45000-45200 strong support for Bank Nifty
- 46475-46575 and 46900-47100 upper levels for Bank Nifty.
Share Market Today LIVE Updates | Nifty above 21,800, Sensex up nearly 350 pts as FM Nirmala Sitharaman begins Budget speech
EXPERT VIEW | FOMC—Neutral, non-committal stance, says Prashant Tandon
Calling the FOMC, a neutral, non-committal stance, Prashant Tandon, Senior Director, Listed Investments Client Advisory, Waterfield Advisors says, “In line with market expectations, the US Federal Reserve left rates unchanged for a fourth straight meeting. However, there was a slight change in tone from the December meeting with the statement mentioning that the Fed does not expect rate cuts until it sees “greater confidence that inflation is moving sustainably toward 2% percent”. The biggest worry for the Fed is not to repeat the same mistakes of the 1970s when flip-flopping in interest rate decisions took the inflation specter above its first peak. We do not see a major impact of the current policy decision on financial markets with 10-year yields closing lower on the day and equity markets being driven by earnings expectations rather than immediate Fed policy”.
Share Market Today LIVE | Shree Cement posts strong Q3 numbers on all parameters; stock hits 52-week high
Shares of Shree Cement clock a fresh 52-week high on the BSE at Rs 30,405 apiece after the company posted strong Q3FY24 results on all parameters. Shares of Shree Cement trade 6.53 per cent or Rs 1,864.95, higher at Rs 30,403.9 apiece on BSE. Meanwhile, its market capitalisation stands at Rs 1,09,699.55 crore at around the same time.
How did Shree Cement perform in Q3?
Bangur family-promoted Shree Cement on Wednesday after market hours reported over a two-fold jump in its consolidated net profit to Rs 701.85 crore for the third quarter ended December 2023. Read more
Share Market Today LIVE Updates: Nifty near 21,800, Sensex up nearly 250 pts ahead of Interim Budget, auto stocks rise
Anil Singhvi on Budget | Which budget will be called a good budget? Here's what market wizard says
- No interference, let whatever is going on go on.
- The government should control the financial deficit
- The government should focus on Capex
- Give income tax concessions to the middle class
- Do not increase any tax on investors
Currency Update | Rupee rises 9 paise to 82.95 against US dollar ahead of Budget
The rupee appreciates 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget.
Budget Stock Exchange 2024: M&M, TVS Motor, Britannia, HUL, Dr Reddy's Labs among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Vishvesh Chauhan, Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia, Siddharth Sedani, Sandeep Jain, Jay Thakkar and Vikas Sethi share their top stock recommendations in this special segment, Budget Stock Exchange.
On the top analysts' 'buy' list are stocks such as Kaveri Seed Company, Transport Corporation of India (TCI),BLS International Services, KPR Mill, Gujarat Gas Ltd (GGL) and Zomato, Sun Pharmaceutical Industries, TVS Motor Company and Lemon Tree Hotels, Kirloskar Brothers, KNR Constructions, VST Tillers, Gandhi Special Tubes, Hindustan Unilever Ltd (HUL), Dr Reddy's Laboratories, Power Finance Corporation (PFC), Mahindra & Mahindra (M&M), Indian Railway Finance Corporation (IRFC) and Infibeam Avenues. Read more
Budget 2024 Live Streaming: When and Where to Watch Nirmala Sitharaman's Interim Budget Speech Live telecast on TV, Mobile apps, and Laptop
As Finance Minister Nirmala Sitharaman gears up to present the Interim Budget 2024–25 at 11 am today, we bring you a quick guide on when and where to watch the finance minister's Interim Budget speech Live on TV, Mobile apps, and Laptop.
Budget 2024-2025 Live Streaming: When and Where to Watch Nirmala Sitharaman’s Speech Live
One can watch the FM's budget speech live on the official channels of Sansad TV and Doordarshan. One can also watch live telecasts of the speech on the Zee Business news channel. Live Budget 2024 telecast will also be available on the respective YouTube channels of Sansad TV, Doordarshan, and Zee Business.
Budget 2024-2025 Free Live Streaming: Union Budget Speech Live on Mobile App
One can access Budget 2024 documents in "paperless form" through the Union Budget App.Read more
Share Market Today LIVE | Godrej Consumer Products hits a 52-week high, soars by over 9% after beating Street estimates in Q3 results
Godrej Consumer Products hit a 52-week high of Rs 1280.55 on BSE after the consumer product company reported above-Zee Business research estimate numbers in its December quarter results. On a day when Nirmala Sitharaman is set to present the Union Budget 2024 at 11 am, the stock of Godrej Consumer Products is soaring higher by 9.60 per cent, or Rs 11.80, at Rs 1275.95.
Godrej Consumer Products Q3 results
Its consolidated profit after tax jumped by six per cent to Rs. 581 crore from 546 crore Year-on-Year (YoY), against research estimates of Rs 566 crore. Read more
Anil Singhvi on Budget | Where will be the focus of the Interim Budget? Here's what market wizard expects
- Expenditure will increase on railways and the defense sector
- Focus on infrastructure and cement
- Promotion of PLI and manufacturing
- Focus on nuclear, solar, renewable, and green energy
- Concessions to electric vehicles and flexi biofuel
- Relief on small home loan interest to middle-classAnil Singhvi on Budget | What major things will be important in the budget figures?
- GDP figure should be around 330 lakh crores
- The target of fiscal deficit should be kept at 4.5% till the financial year 2026.
- Government should make capex of Rs 11.5 lakh crorePaytm shares freeze at 20% lower circuit on RBI action; Jefferies downgrades the stock
Shares of One 97 Communications, the parent company of Paytm, hit a 20 per cent lower circuit of Rs 608.8 in Thursday’s opening trade a day after the Reserve Bank of India (RBI) prohibited Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instrument, wallet, or FASTags after February 29, 2024. READ MORE
Anil Singhvi on Budget | No Bad News is Good News for Market
PM Narendra Modi and FM Nirmala Sitharaman have said that there will be no big announcements in this budget, so will this budget not be something special? Here's what Zee Business Managing Editor Anil Singhvi says:
- If there are no big announcements, it does not mean anything negative
- No bad news is good news for the stock marketShare Market Today LIVE Updates: Nifty above 21,750, Sensex up nearly 50 pts
Nifty 50
Source: NSESensex
Source: BSE
Interim Budget 2024 | Anil Singhvi shares February 1 market strategy; important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,550-21,650 levels and a strong buy zone at 21,450-21,525 levels on Thursday, February 1, the day Finance Minister Nirmala Sitharaman is scheduled to unveil her Interim Budget for 2024-25.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Traders' Diary | Buy, sell or hold strategy on TCS, L&T, GCPL, JSPL, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Thursday, February 1. Check out the complete list of stocks on analysts Kushal Gupta and Ashish Chaturvedi's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy Ajanta Pharma shares in the cash segment for a target of Rs 2,240 with a stop loss at Rs 2,150
- Buy Shree Cement futures for a target of Rs 29,500 with a stop loss at Rs 28,200
- Buy the Rs 3,480 put option of Larsen and Toubro (L&T) at Rs 83 for a target of Rs 125 with a stop loss at Rs 65
- Technical pick: Sell Jubilant FoodWorks futures for a target of Rs 500 with a stop loss at Rs 525
- Fundamental pick: Buy Cochin Shipyard shares for a target of Rs 940 with a stop loss at Rs 900
- Investment idea: Buy Tata Consultancy Services (TCS) shares for a one-year target of Rs 4,300
- News-based pick: Buy Divgi Torqtransfer Systems shares for a target of Rs 960 with a stop loss at Rs 920. Read more
Share Market Today LIVE | Catch JM Financial's Ashu Madan today on Zee Business
EXPERT COMMENT | FOMC—Easing not imminent, but visible, says Madhavi Arora, Lead Economist, Emkay Global Financial Services
Madhavi Arora says that it is rare for an FOMC statement to be quite so different from one meeting to the next, here's other key points she highlights:
- One of the more surprising (and hawkish) responses during the presser was Powell's explicit pushback against a March rate cut.
- On balance, the FOMC has taken a step towards cutting rates, but it needs to see more progress toward the 2 per cent inflation target which will give it the "greater confidence" it needs.
- There was no mention of slowing the pace of QT in the statement, with Powell stating that an in-depth discussion around potential tapering would take place at the March meeting.
- While Treasuries initially whipsawed, especially during the presser, they are now ~10bps lower across the curve. The DXY ended higher, while the S&P500 ended the day down 1.6 per cent.
Share Market Today LIVE | Fed's Powell sees lower rates on the horizon as inflation ebbs, economy bounces ahead
In a sweeping endorsement of the US economy's strength, Federal Reserve Chair Jerome Powell, on Wednesday said that interest rates had peaked and would move lower in coming months, with inflation continuing to fall and an expectation of sustained job and economic growth.
Powell, speaking after the end of a two-day policy meeting, declined to declare victory in the U.S. central bank's two-year inflation fight, vouch that it had achieved a sought-after "soft landing" for the economy or promise that rate cuts would come as soon as the Fed's March 19-20 meeting, as investors had hoped in the run-up to this week's policy decision.
(With agency inputs)
Union Budget 2024 LIVE Updates | Full list of what gets cheaper and what gets costlier?
While this is an interim budget and will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls, all eyes will be on what will become cheaper and what will become costlier this year. Click here for all the latest updates on the list of what will get costlier and cheaper
Share Market Today LIVE | Interim Budget will focus on Railway, Defence, Infrastructure, Green Energy says Anil Singhvi
Asia Stock Market | Asia ponders Fed fallout, bonds still bullish on rate cuts
Asian shares falter today after Wall Street took a late spill, while investors stuck to bets for sizable cuts in US interest rates this year even if the kick-off might now be a little later than first hoped. Read more
(with agency inputs)
Currency Market Update| Dollar hovers near 7-week high as Fed cut bets shift to May
On Thursday, the dollar hovers close to the highest level in seven weeks against the euro, after Federal Reserve Chair Jerome Powell pushed back on the idea of a first US interest rate cut as soon as March.
The yen, however, hold on to overnight gains amid a decline in US Treasury yields, as troubles at regional US lender New York Community Bancorp sparked a rush to safer assets.
The US dollar index, which measures the currency against a basket of six major peers including the euro and yen, slips 0.07 per cent to 103.54 in early Asian trading, giving back a little of Wednesday's 0.19 per cent advance. Read more
(with agency inputs)
Commodity Market Update | Oil edges up on US Fed rate signals, China property sector support
Global oil prices climb on Thursday, supported by signals from the US Federal Reserve on a possible start to rate cuts and as China unveiled new support measures for its embattled property market.
Brent crude futures rise 46 cents, or 0.6 per cent, to $81.03 a barrel and US West Texas Intermediate crude futures gain 47 cents, or 0.6 per cent, to $76.33 after falling by more than $2 a barrel in the previous session.
On Wednesday, Federal Reserve Chair Jerome Powell said that interest rates had peaked and would move lower in coming months, with inflation continuing to fall and an expectation of sustained job and economic growth. Read more
(with agency inputs)
Budget 2024 Live Updates | Finance Minister Nirmala Sitharaman to deliver Interim Budget speech at 11 am
The final few hours of wait are left! With Finance Minister Nirmala Sitharaman scheduled to present her sixth Union Budget in Parliament on Thursday, February 1, 2024, expectations are rife, once again, that the annual event will spell some good news for everyone—from economists, policymakers, investors, businesses and taxpayers to the common man. What will the finance minister's humble bahi khata contain this time? Click here to catch all the latest updates on the Interim Budget 2024-25
Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead of Interim Budget announcement
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 12.6 points or 0.06 per cent at 21,796 ahead of the opening bell on Dalal Street.
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