Stock Market Today: Domestic equity indices are expected to open moderately higher on Monday, according to SGX Nifty trends. In early morning trade on the Singapore exchange, Nifty futures were trading 15.5 points, or 0.09%, higher at 17,705.0. On Friday, the BSE Sensex down 874.16 points, or 1.45%, to 59,330.90, while the Nifty 50 fell 287.60 points, or 1.61%, to 17,604.35. Bank Nifty fell 3.13%, Nifty PSU Bank fell 5.43%, Nifty Private Bank fell 2.69%, Nifty Metal fell 4.69%, and Nifty Oil & Gas sank 5.60%.
Stock Market Today: Solid third-quarter results
Following the release of the Hindenburg report, Adani group equities plummeted up to 20% in intraday trade. Tata Motors’ stock rose more than 6% to Rs 445.55 after the company posted solid third-quarter results.
Dollar cautiously firm ahead of busy central bank week
The dollar strengthened on Monday, pulling away from an eight-month low ahead of a flurry of central bank meetings this week, including the Federal Reserve’s, with traders looking for information on the direction of interest rate rises.
The US dollar index, which measures the greenback against a basket of currencies, climbed 0.03% to 101.92, easing away from the eight-month low of 101.50 set last week.
Oil climbs after drone attack in Iran, China’s pledge to promote consumption
Oil prices rose in early Asia trade on Monday, bolstered by Middle East tensions following an Iranian drone attack and Beijing’s commitment over the weekend to promote consumer recovery, which would support fuel demand.
Brent crude futures were up 54 cents, or 0.6%, to $87.20 a barrel by 0115 GMT, while West Texas Intermediate crude was up 54 cents, or 0.7%, to $80.22 a barrel.
Tata Motors to hike prices of passenger
Tata Motors announced on January 27 that it would raise the prices of its passenger vehicles by 1.2 percent on a weighted average basis beginning February 1 due to rising input costs.
According to the automaker, it has “absorbed a considerable percentage of the additional expenses due to regulatory changes and rise in total input costs and is thus passing on some portion through this hike.”
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