Business

Market at Close: Indian Equity Indices Ended Wednesday’s Session In The Red Territory

Market at Close: The benchmark BSE Sensex fell 636.75 points, or 1.04 per cent, to 60,657.45, while the broader the NSE index lost 187.5 points, or 1.03 per cent, to 18,045.05, as investors worried over rising Covid-19 cases in China and the Federal Reserve’s interest-rate hiking path.

Nifty Bank slips 467 points to 42,959 and the Midcap index 357 points to 31,503.

Coal India ends three per cent lower after company announces 19 per cent minimum wage hike. The HPCL rises while the ONGC slips following a four per cent fall seen in crude. India has raised windfall tax on petroleum, crude oil and aviation turbine fuel, according to a government order dated January 2.

It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective from Tuesday. Crude oil pumped out of the ground and from below seabed is refined and converted into fuel like petrol, diesel and aviation turbine fuel.

The WTI Crude futures for January delivery were down 2.35 per cent at $75.12 while Brent Crude futures for February delivery were trading 2.25 per cent lower at $75.12.

The federal government also raised export tax on diesel to Rs 7.5 per litre from Rs 5, while raising the windfall tax on the ATF to Rs 4.5 per litre from Rs 1.5, the document showed.

Rupee ends up 0.09 per cent at 82.8025 per U.S. Dollar; previous close 82.8800.

Gold futures on the multi-commodity exchange for February delivery were trading at 55920.00 up 390 points or 0.70 per cent while Silver futures for March delivery were up 713 points or 1.02 per cent at 70630.00.

Asian Markets

Market at Close: Asian markets concluded on a mixed note. SGX Nifty ended with loss of 1.21 per cent at 18,085.00.

China’s Shanghai SE composite index ended in the green, rising 7 points or 0.22 per cent at 3,123.52 on Wednesday.

Japan’s Nikkei 225 fell 377.64 points or 1.54 per cent to 25,716.86. Hong Kong’s Hang Seng climbed by 647.82 points or 3.22 per cent to 20,793.11. Taiwan Weighted ended with loss of 0.18 per cent at 14,199.13. FTSE TWSE Taiwan 50 Index fell 51.87 points or 0.48 per cent to 10,744.98. South Korea’s KOSPI rose 37.30 points or 1.68 per cent to 2,255.98.

Also read: Opening Bell: Indian Nifty 50 Below 18,128 & Sensex Down 340.45 Points

Spriha Rai

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