Opening Bell:
SGX Nifty is down by 28.5 points in the early morning trade, indicating a negative opening for Indian stock market.
Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.11% while the Hang Seng is up 1.15%. The Shanghai Composite is not trading Wall Street indexes closed slightly lower and the dollar gained with Treasury yields as investors digested Monday’s data and waited for the U.S. Federal Reserve’s interest rate decision due on Wednesday as well as key upcoming economic data and quarterly earnings reports. Nasdaq Composite is down by 0.11%. S&P 500 down by 0.03%. and Dow Jones down by 0.14%.
Stocks News:
?Kotak Mahindra Bank on April 29 reported 26 percent jump in its standalone net profit at Rs 3,495 crore for the March quarter. Net profit stood at Rs 2,767 crore in the year-ago period. A poll of brokerages had estimated net profit at Rs 2,925.7 crore for the fourth quarter.
?Adani Green Energy on Monday posted a more than four-fold rise in its consolidated net profit to Rs 507 crore in the March quarter compared to the year-ago period, supported by higher revenues.
?SBI Card has reported a net profit of Rs 596 crore for the three months ended March. The profit increased by a marginal 3%, compared with Rs 581 crore in the same period last year. The total revenue for the March quarter increased by 30% year-on-year to Rs 3,917 crore.
?Ultratech Cement on April 28 reported a net consolidated profit of Rs 1,665.95 crore for the March quarter of the financial year 2022-23, registering a decline of 32.29 percent from Rs 2,460.51 crore recorded in the same quarter of the previous fiscal.
?Foreign institutional investors (FII) bought shares worth Rs 3,304.32 crore, while domestic institutional investors (DII) purchased shares worth Rs 264.27 crore on April 28, according to provisional data from National Stock Exchange.
Domestic and International Events
- The government collected a whopping Rs 1.87 lakh crore as Goods and Services Tax (GST) in April, data released on May 1 by the Union Finance Ministry showed. At Rs 1.87 lakh crore, the GST collected in April is an all-time high by a substantial margin. The previous record high was Rs 1.68 lakh crore, collected in April 2022.
- The World Bank on Monday unveiled new methodology and improved safeguards for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favouritism toward China forced it to cancel its flagship rankings two years ago.
- Oil prices fell in thin early Asian trade on Tuesday as the market digests weak economic data from China and expectations of another U.S. interest rate hike.
- The government has cut the windfall tax on crude oil to Rs 4,100 per tonne from Rs 6,400 per tonne, effective from today, according to a notification. The government has left the windfall tax on petrol, diesel and aviation turbine fuel at zero.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 19,895 | 0.3 % |
| Shanghai Composite | 3,323 | 1.1 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 34,098 | 0.8 % |
| DAX | 15,922 | 0.8 % |
| FTSE 100 | 7,871 | 0.5 % |
| Nikkei | 29,123 | 0.9 % |
| Straits Times | 3,271 | (0.4) % |
