Wednesday, February 1, 2023

Index Watch

  «Post- Market
 % Change
10482.20 10451.90 10596.25 10440.55 10582.50 100.30 0.96
34812.99 34846.19 35187.75 34672.20 35144.49 331.50 0.95
  • Domestic benchmark equity indices ended higher today, on receding fears of an interest-rate hike by the RBI - following retail inflation hitting a 13-month low in Oct'18, & as global crude-oil prices fell. News that China's Vice-Premier - Liu He will visit the US, to fix a meeting between the leaders of the 2 biggest economies - later this month, which have been at loggerheads over trade-tariffs - also aided sentiment. Global crude-oil prices fell, after US President - Donald Trump, yesterday said he hoped Saudi Arabia & the OPEC would not cut production. Shares of state-owned OMC majors - IOC, BPCL, & HPCL ended sharply higher, as the fall in oil prices - eased concerns about these cos' marketing margins.
  • Key Asian equity indices ended lower today - tracking weakness in US equities overnight & on losses in shares of technology cos. Japan's benchmark index - Nikkei-225 was the worst hit in the region, with a 2% fall - on the back of losses in suppliers of Apple's iPhone parts. Shares of suppliers to Apple have come under pressure - after 3 such cos issued profit warnings yesterday. China's Shanghai Composite was the major gainer in the region - up 0.90%, after reports said the country will send a delegate to the US - for trade-talks. Key European equity indices are seen rising in afternoon trade today - on hopes of some progress in the US-China trade-dialogue. Reports said China's Vice-Premier - Liu He will visit the US, to fix a meeting later this month - between the leaders of the 2 biggest economies, which have been at loggerheads over trade-tariff - for the past 1 year. Shares of miners & travel cos were the biggest gainers in the region. Investors will monitor developments in Italy - as today is the last date for Rome to submit it's budget to the European Commission.
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