📊 Top 5 factors to drive Indian capital markets’ movement today🔎
Thu, May 26, 2022 8:00 AM

📊 Top 5 factors to drive Indian capital markets’ movement today🔎

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✅ SGX Nifty improved by about 0.42% to 16,090 points as of 6:35 am today. ✅ Asian shares improved tracking the Wall Street after the US Fed took a less-than-anticipated hawkish tone on rate hike. ✅ BPCL's net profit plunged by 73% to Rs 2,803 crore in Q4. ✅ Hindalco, NMDC, Page Industries and others are announcing their Q4 results today. ✅ INR closed at Rs 77.52 against the USD on Wednesday.

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Crude oil prices plunge over $1 as G7 debate Iran nuclear deal, Russia

Crude oil prices plunge over $1 as G7 debate Iran nuclear deal, Russia

Crude oil prices plunged by over $1 a barrel on Monday. This was noticed as global economic concerns adversely affected the oil demand outlook, and investors are concerned regarding the G7 meeting this week for a decision on Russian oil exports and a revival of the Iran nuclear deal. By 0010 GMT, Brent crude futures tanked by $1.42, or 1.3%, to $111.70 a barrel after rebounding 2.8% on Friday.

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NMDC’s Chhattisgarh steel plant to commence production in September

NMDC’s Chhattisgarh steel plant to commence production in September

NMDC’s 3 mtpa greenfield steel plant at Nagarnar in Chhattisgarh is expected to be commissioned towards the end of September. The facility by the state-run Company is already witnessing a delay of almost 7 years. Notably, NMDC spent Rs 20,240 cr as of May 2022 for the plant. The state-run firm is likely to spend another Rs 1,700 cr, and the project reported a cost overrun of around Rs 7,000 cr.

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Coal supplies hike, though 50% thermal units have stocks at critical level

Coal supplies hike, though 50% thermal units have stocks at critical level

The power and the coal ministry announced that during the upcoming monsoon the coal supplies to the power plants may not witness a crisis with power plants building up inventories. This was declared, despite 91 out of India's total 173 thermal power stations reporting coal stocks in a critical situation. Among these 91 plants, 8 are non-operational and 8 depend on imported coal for operation.

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