Business
Stock Market Today: Sensex, Nifty edge higher as Budget session commences
By - 31 Jan 2024 08:29 PM
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Indian indices inched higher as trading session progressed on Wednesday ahead of the FY 2024 interim budget to be presented on February 1. Investors will keenly observe the announcements despite the interim nature of the budget. Share Market Updates: Indian benchmark indices opened near flatline on Wednesday’s trading session amid cues from the global market. BSE Sensex opened 58.60 points, or 0.08 per cent at 71,081.30 while Nifty opened 34.80 points, or 0.16 per cent at 21,487.30. However, the indices inched higher as trading session progressed on Wednesday ahead of the FY 2024 interim budget to be presented on February 1. Investors will keenly observe the announcements despite the interim nature of the budget. Observers will keep an eye on any proposals on taxation on investment in capital markets. Commentators say sentiments are running positive ahead of the anticipated budget. Voltas, M&M Financials and L&T Finance remained among top gainers and Nifty 50 Larsen, Indus Towers, Astral Ltd tanked the most. Nifty Bank traded over 1.5 per cent higher. International oil prices climbed on higher global economic forecasts and sustained tension between the US and oil rich Iran. Brent Oil Futures lost 0.22 points, or 0.27 per cent at $82.31 a barrel while WTI futures traded 0.17 points, or 0.22 per cent at $77.65 per barrel. Indian Rupee closed today’s trade 8 paisa stronger at 83.11 against the American currency. Indian currency opened flat at $83.11 vs Tuesday’s close. The US dollar index gained 0.20 points, or 0.20 per cent 103.42. Asian markets remain mixed after China posted below the expectation industrial results. Chinese manufacturing contracted in January for a fourth straight month, reflecting weak demand and a faltering recovery. Nikkei gained 0.61 per cent and Kospi fell 0.07 per cent. NASDAQ 100 futures slid 0.8 per cent after several tech companies posted Q4 results that fell below the expectations of market analysts. Shares of tech giant Alphabet tanked by 5 per cent while Apple shares fell nearly 1 per cent. Dow Jones Industrial Average ended with minor gains with 133.86 points, or 0.36 per cent at 48,467.31 while S&P 500 ended 2.96 points, or 4,924.97 lower. |
