Bharat Express

NIFTY

Government of India cuts windfall tax on crude oil and Aviation fuel to Rs 1900 per tonne. Thus, stocks like Reliance, ONGC, BPCL and IOC are likely to be in focus.....

Indian shares were lower in early trades on Tuesday, tracking other Asian stocks after hawkish comments from Federal Reserve officials against inflation.

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.

WTI Crude oil fell for the second straight session of the New Year as demand concerns weighed. Crude fell more than 5.30 per cent as it ended the session near $73/bbl. In today’s early session crude is trading around a percent higher. The COVID-19 situation in China and its impact on demand from the world’s largest importer of oil is continuing to haunt the markets.

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

Shares of oil companies are in focus as government announces hike in windfall tax. It is expected to add 6,000 barrels of crude oil per day to the ONGC’s production in the coming days..

Shares of oil companies are in focus as government announces hike in windfall tax. It is expected to add 6,000 barrels of crude oil per day to ONGC’s production in the coming days.

India has raised windfall tax on petroleum, crude oil, and aviation turbine fuel. It raised the windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective on Tuesday.

Closing Bell: Domestic indices Nifty and Sensex gave up their intraday gains to close in the negative territory. The 30-share BSE Sensex fell 293.14 points or 0.48 percent to settle at 60,840.74 on Friday. The broader NSE Nifty declined 85.70 points or 0.47 percent to end at 18,105.30. Closing Bell: Domestic Bank Nifty closed 0.5 …

Opening Bell: SGX Nifty signals a positive start. Indian shares opened higher on Friday in the final session of 2022, aided by an uptick in IT stocks, tracking gains in global equities. BSE thirty share surged 110 points to 61,256.57 while NSE Nifty50 went up to 30 points to 18,234.15. Nifty bank is trading 0.18 …