- Nasdaq 100 futures remained close to the flat line, while S&P 500 futures ended the day 1.6% higher.
- Oil prices in India continued to fall on Monday.
- The market capitalization of Tata Motors dropped to Rs 3,17,998.73 crore from Rs 29,946.88 crore.
Awaiting inflation data and the Federal Reserve’s plan for rate cuts, investors are holding split positions in US futures. Nasdaq 100 futures remained close to the flat line, while S&P 500 futures ended the day 1.6% higher.
For the eighth consecutive session, the 30-stock Dow saw gains of 125 points on the Dow Jones Industrial Average futures.
Stock Market Today
Due to sluggish gasoline consumption and remarks from US Federal Reserve officials that dashed expectations of interest rate cuts, oil prices in India continued to fall on Monday. US West Texas Intermediate crude prices were down 5 cents to $78.21 per barrel, while Brent crude futures declined 0.1% to $82.72 a barrel.
According to independent expert Tina Teng, oil markets have once again turned their focus back to the global economic picture, brushing off the effects of the turmoil in the Middle East. The market capitalization of Tata Motors dropped to Rs 3,17,998.73 crore from Rs 29,946.88 crore.
The company, riding with all three of its auto companies, particularly the British arm Jaguar Land Rover, posted an almost three-fold increase in consolidated net profit at Rs 17,528.59 crore in Q4. Compared to Rs 1,05,932.35 crore year over year (YoY), the total consolidated income from operations was Rs 1,19,986.31 crore.
The Nifty Auto index is currently trading at 22,190.65, down 639.60 points, or 2.82 percent. Nifty PSU Bank, Sonal BLW, Tube Investments, and Tata Motors are among the top losers. The India VIX, which measures volatility, has somewhat recovered from its peak for the day and is currently trading 2.19 points, or 11.86 percent, higher at 20.65.
Nifty Pharma has moved up 0.18 percent, or 31.60 points, to 18,644.45. Aurobindo Pharma, Sun Pharma, Cipla, and Lupin are among the top gainers. Although consolidated net profit for the fourth quarter increased by more than three times to Rs 17,528.59 crore, Tata Motors’ share price fell by more than 9%. On Friday, shares valued at Rs 2,117.50 crore were sold by Foreign Institutional Investors (FIIs).
