Thu, Nov 28, 2024
The Finance Ministry would review the efficacy of windfall tax on the export of petrol, diesel and Aviation Turbine Fuel (ATF) as global crude oil prices have stabilised, sources said. Phenomenal profits made by some oil refiners on exporting fuel at the expense of domestic supplies had prompted the government to introduce an export tax on petrol, diesel and ATF in July 2022.
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Fri, Oct 04, 2024
India is bound to be impacted by the spillover impact of global developments, a central government official has said.
Tue, Oct 01, 2024
Brent crude slipped below $70, Brent crude fell by about 2.5%
Mon, Nov 28, 2022
Oil Futures tumble more than $2 a barrel on Nov 28, with WTI hitting an 11-month low as protests in China over strict COVID-19 curbs fueled demand concerns. Meanwhile, investors are keeping an eye on Western plans for a price cap on Russian oil.
How is the rising covid cases in China affecting the market? Why is China following Zero Covid Policy? How much more will crude prices decrease? Will Venezuela become an alternative to Saudi Arabia for crude supply? Know from Global Market Expert Ajay Bagga.
Thu, Nov 24, 2022
Fed members agreed to reduce the pace of rate hikes. Yesterday, the US market rose for the second consecutive day. The Dow Jones gained 100 points and the Nasdaq gained 1% for the second day. Weekly unemployment claims rose from 17,000 to 2.4 lakh in the US. Tesla shares surged 8%. Apart from this, consumer sentiment data in US was better than expected. US markets will remain closed today. There was a slight increase in Europe. Talking about the commodity market, Crude oil reached a 2-month low due to the news of a price cap of $65-70 on Russian crude oil.
Stock Market HIGHLIGHTS: In Nifty50, 44 stocks advanced, 5 declined while 1 remained unchanged. The top gainers were Apollo Hospitals, HDFC Life, BPCL, Infosys and Tata Consumers while the top losers were Cipla, Coal India, Bajaj Finserv, Kotak Bank, Bajaj Finance and Hero MotoCorp.
Tue, Nov 22, 2022
Why there was uproar in the commodity market yesterday? What is the reason for the huge fall in crude? Has the concern over lockdown increased in China again? What will happen next in the US market? Know from Anil Singhvi.
Sluggish action was seen in the US market. The Dow Jones slipped 50 points amid trading in the 300-point range. Nasdaq fell 1% due to heavy fall in IT stocks. Apart from this, maximum selling was seen in the energy sector. The rising covid cases in China had an impact on selective companies. Tesla's stock fell 7%. Disney's stock jumped 6% on the news of the new CEO. Dell was up by 6% on the results. Whereas ZOOM slipped 4.5%. Today 3 Presidents of Fed will give speech. Apart from this, Brent fell sharply to $82 yesterday.
Thu, Nov 17, 2022
Nifty Oil & Gas index was trading nearly flat at 8,307.80 with six stocks in the 15-share index trading in the green. The top gainers were Castrol India, Hindustan Petroleum and Reliance Industries. The top losers were Indraprastha Gas, Oil India Limited and Gujarat Gas
India has also cut export tax on diesel to 10.50 rupees per liter from 13 rupees per liter, the order said.
Wed, Nov 02, 2022
The government on Nov 2 cut the windfall tax on domestically produced crude oil while increasing the rate on the export of diesel and jet fuel in line with the rise in international oil prices.
Tue, Nov 01, 2022
In the fortnightly revision of windfall tax, the government hiked the rate on export of diesel to Rs 13 per litre from Rs 12 per litre.
Mon, Oct 31, 2022
The rally in both key indices was mainly on the back of multiple positive factors among them was the softening of global crude oil prices, the market analyst pointed out.
Sat, Oct 22, 2022
OPEC+ alliance "is doing the right job", said Saudi Energy Minister Abdulaziz bin Salman here. The minister is on a day-long visit to prepare the ground for Saudi Prime Minister and Crown Prince Mohammed bin Salman's trip to India next month.
Wed, Oct 19, 2022
Expert Anuj Gupta said that he did not read to much from today's lows, citing that the weakness was on account of higher demand for USD in the domestic market ahead of the long festive holidays
Sun, Oct 16, 2022
The tax on crude oil produced by firms such as state-owned ONGC was increased to Rs 11,000 per tonne beginning October 16 from Rs 8,000, a government notification showed.
Sat, Oct 15, 2022
At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three per cent, which is higher than the global average of nearly one per cent, Union Minister Hardeep Singh Puri said.
Thu, Oct 13, 2022
Crude will be cheaper. Global demand growth is likely to decline from 2% to 1.5%. The fall in crude oil will increase. Know full details from Neha Anand.
Tue, Oct 11, 2022
US Stock Market: Wall Street has been turbulent amid worries about stubbornly hot inflation and the Federal Reserve’s plan to tame high prices by raising interest rates. The goal is to slow economic growth and cool both borrowing and spending in order to get inflation under control, but the plan risks sending the economy into a recession.
Mon, Oct 10, 2022
Crude oil at 5-week high, Know the global outlook on crude oil from Neha Anand.
Sat, Oct 08, 2022
Inflation in India has been on the rise consistently for the past several months and various reasons can be attributed to it such as soaring food and oil prices, among others
Thu, Oct 06, 2022
OPEC+ decision a bearish signal? What is the global signals for the domestic market? Why was there a negative outlook on the UK? Know Ajay Bagga's global outlook with Anil Singhvi in 'AB of Global Market'.
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