Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Air India Cuts Fuel Surcharge Up To $125 On International Routes As ATF Prices Ease
The move comes after a sharp moderation in global crude oil prices and ATF prices.
INR settles on a positive note; Easing oil prices, positive local equities support
The Indian rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. Rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows. The Indian equity benchmarks closed sharply higher, with the BSE Sensex surging 579.48 points (0.75%) to settle at 77,502.12 and the NSE Nifty 50 advancing 169.85 points (0.71%) to end at 24,175.70.
INR seen supported by easing crude oil prices
The Indian rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. The rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Brent crude slipped below $71 a barrel after signs of progress in indirect US-Iran talks eased concerns over India's inflation and import bill. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Meanwhile, foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows. Yesterday, rupee depreciated 67 paise to close near a three-week low of 95.23 against the US dollar. The BSE Sensex is trading up roughly 400 points at 77,321.07, while the NSE Nifty 50 has crossed the key psychological hurdle to trade at 24,129.75.
Stocks to buy or sell: Osho Krishan of Angel One suggests buying CDSL, Indian Hotels shares on 2 July
Indian stock indices Sensex and Nifty 50 rose on Thursday, boosted by falling crude oil prices after US-Iran negotiations. Nifty 50 gained 0.23%, while Sensex increased by 0.21%. Continued sideways trading seen, with key resistance at 24,100-24,200 and support at 23,850-23,800
Petrol, Diesel Prices On July 2: Check New Fuel Rates In Mumbai, Hyderabad, Chennai, Kolkata, And More
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.
Stocks in news: Hero MotoCorp, Canara Bank, Bharti Airtel, Indian Hotels, SBI
Indian markets opened positively, with analysts suggesting a stock-specific strategy amidst consolidation. Hero MotoCorp sees a revival in commuter bike demand, planning capacity expansion. Canara Bank and Indian Bank reported strong credit growth. Bharti Airtel's NBFC arm has begun operations, while Indian Hotels plans significant capital expenditure. SBI launched AI-powered innovations, and BPCL is acquiring a stake in a Brazilian oil venture.
INR slumps back beyond Rs 95 per dollar mark as dollar stays firm; positive local equities cap downside
The Indian rupee depreciated 67 paise to close near a three-week low of 95.23 (provisional) against the US dollar on Wednesday, as a strengthening dollar index weighed on emerging market currencies. The USD/INR pair witnessed significant pressure due to the strengthening of the American currency in the overseas market, persistent capital outflows, and broader Asian currency weakness. Moreover, market sentiment turned highly cautious, following the breach of the psychological level of 95.00. Local equities also rebounded driven by positive global cues, a drop in crude oil prices, and easing geopolitical tensions. The NSE Nifty 50 gained 140.10 points (0.59%) to close at 24,005.85, while the BSE Sensex climbed 443.97 points (0.58%) to settle at 76,922.64.
Top Gainers & losers on 1 July: Reliance Power, Delhivery, Eternal, Paytm, MCX, Dabur India among top gainers
The Indian stock market opened positively in July, led by strong buying in realty, FMCG, and auto stocks, with Nifty 50 at 24,005 and Sensex at 76,873. However, IT and metal sectors saw declines as geopolitical tensions impacted crude oil prices.
India's June crude imports hit record high as Russian supplies surge despite West Asia tensions
India's crude oil imports hit a record 4.93 million barrels per day in June, bolstered by substantial purchases from Russia, which solidified its role as the top supplier. This surge underscores India's robust supply chain resilience amidst global geopolitical tensions. Analysts highlight proactive diversification and procurement strategies as key to maintaining these strong inflows, ensuring refiners are well-positioned for future needs.
Ukrainian drone attacks on oil refineries plunge Russia into a summer fuel crisis
Ukrainian drone strikes on Russian oil refineries are causing widespread fuel shortages and long queues at gas stations across Russia. This unprecedented crisis, impacting ordinary citizens and businesses, has led to rationing in many regions. President Putin acknowledged the issues, calling them temporary, but motorists report a stark contrast between official statements and reality. The attacks are disrupting Russia's energy production and impacting its economy.
Jet fuel price cut by Rs 5/litre as global oil prices ease
A significant drop in jet fuel prices, by nearly Rs 5 per litre, brings welcome relief to Indian airlines. This reduction, driven by falling international crude oil rates and easing West Asian tensions, is expected to lower operating expenses for domestic carriers. Meanwhile, commercial LPG cylinder prices also saw a substantial cut of Rs 183.50, marking the first reduction this year, while domestic LPG rates remain steady.
Petrol, Diesel Prices On July 1: Check New Fuel Rates In Mumbai, Hyderabad, Chennai, Kolkata, And More
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.