Stock Market Today: As predicted, the US Federal Reserve raised interest rates by a quarter of a percent. Rates rose to 5.25%, a 16-year high. The Fed chairman says don’t expect a decrease this year but does hint at a pause in additional interest rate hikes. As chances for a rate drop this year faded, the atmosphere in the US markets soured. Dow dropped 270 points, and it appears that Asia is also experiencing pressure. Additionally, the SGX NIFTY is currently down about 70 points. Fears of a recession have caused crude to tumble by more than 4% once more. Crude oil prices have dropped to a 16-month low by falling under $72. On the COMEX, however, the rapid increase in gold has reached $2060.
Decline in crude oil
Fears of a recession have caused crude to tumble by more than 4% once more. Crude oil prices have dropped to a 16-month low by falling under $72. On the COMEX, however, the rapid increase in gold has reached $2060. The cost of Brent also appeared to be declining throughout Wednesday’s trading, reaching a low of $71.70 per barrel. The level is the lowest it has been since March 2020. Also down 4.3% to $68.60 was WTI. The price of crude oil fell by 5% on Tuesday, the previous day.
Tata Chemicals made a profit of Rs 965 crore
The income of Tata Chemicals increased from Rs 3,098 crore to Rs 4,407 crore in the January-March quarter of the financial year 2022-23 compared to the January-March quarter of 2021-22. Working profit, or EBITDA, rose from Rs. 657 crore to Rs. 965 crore. EBITDA margin went up to 21.9% from 18.9%. A dividend of Rs 17.50 would be paid to investors for each share. The corporation has never paid a dividend as large as this one.
Stock Market Today: Shares coming under F&O ban on NSE
As of May 4th, only one stock, Manappuram Finance F&O, is prohibited from trading on the NSE. Let us inform you that if a position in a security exceeds its market-wide position limit, the stock in the F&O segment is placed in the “ban” category.
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