Market at Close: Sensex Slumps 304 Points In Volatile Trade; Nifty Below 18,000

Market at Close: The benchmark BSE Sensex falls 304 Points to 60,353 & Nifty 51 points to 17,992, Nifty Bank Slips 350 points to 42,609 While Midcap Index Gains 158 points to 31,662. About 1667 shares advanced, 1705 shares declined, and 145 shares were unchanged.

Coal India ends 0.46 per cent higher today. The HPCL rises 4.95 points or 2.05 per cent. ONGC rises following a 0.17 per cent gain seen in crude. India has raised windfall tax on petroleum, crude oil and aviation turbine fuel, according to a government order dated 2 January 2023.

It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective from Tuesday, 3 January 2023 .

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 0.31 per cent at 82.5550 per U.S. dollar; previous close 82.8025.

On MCX, gold prices were up by over Rs 15 at Rs 55,783 per 10gm, while the Silver rates increased by Rs 32 to Rs 69,350 per kg.

Globally, Spot gold was up 0.1 per cent at $1,856.11 per ounce after hitting a near seven-month high in the previous session.

Crude oil prices jumped on Thursday, rebounding after marking the worst yearly start in three decades. The commodity prices opened more than nine per cent lower in 2023. Brent crude futures were nearly one per cent up at $78.6 per barrel at the last count. WTI futures jumped 1.2 per cent to $73.7 per barrel at the last count.

Asian Markets

Market at Close: Asian indices mostly gained despite the minutes from the Fed meeting showing the banks remaining determined to keep rates high. Tokyo, Hong Kong and Shanghai ended in green with impressive gains.

SGX Nifty ended with loss of 0.25 per cent at 18,065.00.

Hong Kong and Mainland China stocks extended their 2023 rally on Thursday as traders grew optimistic about the reopening of China’s economy. The Hang Seng Index gained 1.25 per cent.

The Shanghai Composite Index climbed 1.01 per cent while the Shenzhen Composite Index on China’s second exchange rose 1.59 per cent. South Korea’s KOSPI rose 8.67 points or 0.38 per cent to 2,255.98.

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.

Japan’s Nikkei share average rebounded from a three-month low as chip-related stocks rallied but gains were capped as hawkishness from global central banks clouded the outlook. The Nikkei ended the day up 0.4 per cent after going much higher only to give back most of those gains an hour before the break.

Also read: Opening Bell: Sensex, Nifty Open In Green On 5 Jan