Sensex Today | Share Market Live Updates: Asian shares traded on a mixed note on Tuesday, after US stocks retreated from near all-time highs last week in a blip for a market notching its longest weekly advance since 2004.
Signs of exhaustion emerged after an over $8 trillion surge in the S&P 500 last year, with the gauge still notching its ninth straight week of gains. Traders have looked past Federal Reserve uncertainty, recession angst and geopolitical risks. And many who came into 2023 dreading all that have ended up scrambling to chase the rally.
China’s factory activity expanded at a quicker pace in December due to stronger gains in output and new orders, but business confidence for 2024 remained subdued, a private-sector survey showed on Tuesday.
The Caixin/S&P Global manufacturing PMI rose to 50.8 at the end of 2023 from 50.7 in November, marking the fastest expansion in seven months and surpassing analysts’ forecasts of 50.4. The 50-point mark separates growth from contraction.
The sprawling manufacturing sector came under pressure amid weak demand in 2023, with a property downturn, geopolitical factors and tight-fisted consumers all weighing on the post-pandemic recovery.
The dollar was little changed. There was no cash trading of Treasuries as markets were closed in Japan.
Meanwhile, oil rose after Iran dispatched a warship to the Red Sea in response to the destruction of three Houthi boats by the US Navy over the weekend, a move that risks ratcheting up tensions and complicating Washington’s goal of securing a waterway that’s vital to global trade.
02 Jan 2024, 07:51:45 AM IST
Sensex Today Live: Centre raises windfall tax on domestic crude oil to ₹2,300/tonne
The Centre has raised windall tax on the sale of domestic crude oil to ₹2,300 per tonne, effective Tuesday.
For the past two weeks, the levy — Special Additional Excise Duty (SAED) — on domestic crude oil was at ₹1,300 per tonne.
The ministry, through a notification, has brought down the additional excise duty on the export of diesel and aviation turbine fuel to zero.
The increase in the windfall tax on the sale of locally produced crude oil comes at a time when the price of crude oil has largely been steady. On Friday, 29 December, the March contract of Brent on the Intercontinental Exchange closed at $77.49 per barrel, against $76.55 on 15 December. It had risen to $81.07 on 26 December.
02 Jan 2024, 07:38:00 AM IST
Sensex Today Live: GIFT Nifty slightly higher
The GIFT Nifty futures traded 20 points higher at 21,865, indicating a positive start for Indian benchmarks.
02 Jan 2024, 07:36:20 AM IST
Sensex Today Live: Asian shares trade mixed
Asian equities began the first trading day of the year with little momentum, after US stocks retreated from near all-time highs last week in a blip for a market notching its longest weekly advance since 2004.
Australian benchmark ticked slightly higher, while Japan is closed for holidays. Chinese shares were set to edge higher and contracts for US shares were muted.
Hong Kong stocks rose at the open Tuesday as investors returned for a new year hoping for a better run than 2023, with eyes on the Federal Reserve after it said it would cut interest rates in the months ahead.
The Hang Seng Index added 0.51%.
The Shanghai Composite Index dipped 0.07%, and the Shenzhen Composite Index on China’s second exchange edged up 0.06%.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!
Aniket Pujari is a passionate finance and technology enthusiast with a strong academic background in Financial Markets. Since 2015, he has been deeply immersed in the world of cryptocurrencies, blockchain technology, and global financial systems, building a wealth of knowledge and expertise in these rapidly evolving fields.
