Top 10 things to know about the stock market today before it opens

Top 10 things to know about the stock market today before it opens

GIFT Nifty statistics show that the Indian index as a whole is off to a bad start, down 31 points or 0.14 percent.

On February 5, benchmark Sensex and Nifty indexes are probably going to open lower as the GIFT Nifty trends down by 31 points, signaling a poor start for the whole index.

On February 2, the market saw significant gains, with the Sensex rising by more than 1,400 points and the Nifty reaching a new high of 22,126.80. To end the day at their highest points, the benchmarks gave back part of their gains. The Nifty concluded 156.30 points, or 0.72 percent, higher at 21,853.80, while the Sensex closed 440.33 points, or 0.61 percent, higher at 72,085.63.

The Nifty is expected to find immediate support around 21,806, followed by 21,730 and 21,607 levels, according to the pivot point calculator. around higher levels, it may encounter immediate resistance at 21,883, followed by 22,127 and 22,250 levels. However.

Keep up with Moneycontrol to find out what's going on in the equities and currency markets right now. Important headlines from various news sources that might affect the Indian and global markets are included below.

present nifty

GIFT Nifty statistics show that the Indian index as a whole is off to a bad start, down 31 points or 0.14 percent. The Nifty futures were trading at about 21,935.00.

Top 15 things to know before the starting bell sounds about today's trading setting

US marketplace

Friday saw a dramatic increase in U.S. stock prices, with the S&P 500 ending at an all-time high. The January jobs data and solid profits helped to improve economic confidence while decreasing the chance that the Federal Reserve would reduce rates anytime soon. will eventually lower interest rates as well.

The surge concluded a turbulent week that included high-profile earnings, a Fed rate announcement, and a resurgence of concerns about regional banking weakness.

The S&P 500 index opened in a new browser and the Nasdaq Composite Index opened in a new tab both saw rises of more than 1%, thanks to strong quarterly results from Meta Platform and Amazon.com. Conversely, gains for the blue-chip Dow Jones Industrial Average opened in a new tab were more subdued.

The US stock market's three main indices all saw weekly gains for the fourth week running. At 4,958.61 points at the close of the session, the S&P 500 increased by 1.07 percent. The Dow Jones Industrial Average increased by 0.35 percent to 38,654.42, while the Nasdaq increased by 1.74 percent to 15,628.95.

Asian marketplace

The week without holidays began with a mixed start for Asian markets as investors anticipated policy announcements from key central banks, such as the Reserve Bank of India on Thursday and the Reserve Bank of Australia on Tuesday.

On Monday, Hong Kong and China's private surveys on the activities of the services industry will be made public. Thailand will announce January's inflation statistics, while Singapore will also disclose its December retail sales data.

The levy on crude oil in India was suddenly raised to Rs 3,200 per tonne.

The Indian government said late on Friday that it will increase the windfall tax on petroleum oil to Rs 3,200 per tonne from Rs 1,700 per tonne from Saturday. The windfall tax on diesel and aviation turbine fuel would remain at zero.

The government lowered the windfall tax on petroleum crude by Rs 2,300 per tonne on January 16.

In July 2022, India levied an additional tax on producers of crude oil and raised tariffs on the export of gasoline, diesel, and aviation fuel since private refiners favored exporting fuel overseas due to larger refining margins than domestic sales. Every two weeks, the tax is adjusted.

First rate drop in Q3 2024, RBI expected to maintain rates till mid-year, according to a Reuters poll.

In contrast to several developed market central banks, the Reserve Bank of India is projected to maintain rates constant until at least July, according to analysts polled by Reuters. The central bank will maintain its benchmark interest rate at 6.50 percent on February 8.

The RBI has left the repo rate unchanged until February 2023 after boosting it by a total of 250 basis points, which is much less than most of its major rivals. This is because inflation has mostly been within the bank's goal range of 2–6%.

Shaktikanta Das, the head of the RBI, had voiced confidence a few weeks before that the present monetary policy can return inflation to its medium-term objective of 4%.

However, given that India continues to be the major country with the highest pace of growth and that inflation is almost at the higher end of the goal range, a rate decrease seems unlikely anytime soon.

SBI's third-quarter net profit drops 35% to Rs 9,163 crore but asset quality rises.

On February 3, the State Bank of India (SBI) revealed its October–December quarter net profit for the fiscal year 2023–24. This is a 35% decrease from the Rs 14,205 crore reported in the same period the previous year. - Before the period. The net profit was lower than the Rs 13,525 crore average of five brokerage predictions.

The institution said in a press statement that it had a Rs 7,100 crore one-time extraordinary item.

The biggest bank in the nation has interest income (NII) outstanding of Rs 39,815 crore as opposed to the estimated Rs 40,304 crore. The net interest margin of the lender was 3.22 percent.

Gross non-performing assets (NPAs) for the bank were 2.42 percent, down from 3.14 percent during the same period previous year. However, net non-performing assets (NPA) for the quarter were 0.64 percent as opposed to 0.77 percent in the previous year.

Consolidated net profit for Tata Motors rises to Rs 7,025 crore in Q3.

Due to an increase in passenger and commercial vehicle sales in India, Tata Motors announced on February 2 a twofold increase in its consolidated net profit for the October-December quarter, coming in at Rs 7,025 crore as opposed to Rs 2,957.71 crore the previous year. robust car demand, aided by Jaguar Land's ongoing expansion. Rover model, lower costs for raw materials, higher pricing, and improved product mix.

In a statement to the stock market, Tata Motors said that its revenue for the same time last year increased by 24.9 percent to Rs 110,577 crore from Rs 88,489 crore.

Analysts had predicted that the Mumbai-based automaker's net profit would increase by 54% year over year (YOY) to Rs 4,547 crore in the October–December quarter. However, the actual figures beat their projections. Additionally, according to the forecasts, sales would increase by 22% annually to Rs 1,08,169 crore.

The operating margin of the Tata group firm increased by 171 basis points to 13.94 per cent, while profits before interest, taxes, depreciation, and amortization (EBITDA) increased by 42.5% year over year to Rs 15,333 crore.

IndiGo's net profit for the third quarter rose by 111%.

The biggest low-cost airline in India, IndiGo, is owned by InterGlobe Aviation Ltd., which on February 2 announced a 111% increase in net profit for the December quarter. This increase was attributed to both the ongoing demand for air travel and the fuel surcharge that was implemented in October.

The airline reported to markets that its net profit for the previous year was Rs 2,998.12 crore, up from Rs 1,422.6 crore.

The revenue climbed by 30% to INR 19,452.15 crore.

According to the announcement, IndiGo's overall revenue increased to Rs 20,062.2 crore from Rs 15,410.2 crore during the same time last year.

Data from FII and DII

Provisional NSE data shows that on February 2, domestic institutional investors (DIIs) purchased shares worth Rs 2,463.16 crore, while foreign institutional investors (FIIs) purchased shares at a net amount of Rs 70.69 crore.

NSE stocks prohibited from F&O

The F&O ban list for February 5 has been updated by NSE to include Hindustan Copper. The list still includes India Cements, Indus Towers, SAIL, and Zee Entertainment Enterprises.