Stock Market Today: SGX Nifty indicates negative start; Asian stocks trading lower

Stock Market Today: The BSE Sensex finished 910 points or 1.52% higher at 60,842, while the Nifty50 gained 244 points or 1.38% to 17,854. The Nifty futures on the Singapore Exchange were trading 23 points, or 0.13 percent, lower at 17,817, indicating that Dalal Street was off to a bad start.

Stock Market Today: State Bank of India Q3 earnings

State Bank of India reported a 68 percent increase in net profit for the December quarter on February 3, exceeding Wall Street expectations by a wide margin. A decrease in provisions and strong core income growth boosted net profit.

The largest lender in India reported a net profit of Rs 14,205 crore for the December quarter, up from Rs 8,431.9 crore in the previous year's corresponding period. A poll of eight brokerages put the net profit for the quarter at Rs 13,360 crore.

Adani Enterprises shelves Rs 1,000 crore bond plan after market rout

Following a market rout, Adani Enterprises Ltd. has shelved a plan to raise up to 10 billion rupees ($122 million) through its first-ever public bond sale, according to people familiar with the matter.

Bloomberg reported in December that the flagship firm of Indian billionaire Gautam Adani's empire had planned the public note issuance for January, in collaboration with Edelweiss Financial Services Ltd., AK Capital, JM Financial, and Trust Capital. However, according to the people who asked not to be identified because the matter is private, activity has now ceased.

Stock Market Today: US weekly jobless claims drop to nine-month low

The number of Americans filing new unemployment claims fell to a nine-month low last week, indicating that the labour market remains resilient despite higher borrowing costs and mounting concerns about a recession this year.

For the week ending Jan. 28, initial claims for state unemployment benefits fell 3,000 to a seasonally adjusted 183,000, the lowest level since April 2022. Applications fell for the third week in a row. Reuters polled economists, who predicted 200,000 claims for the most recent week.

Gold hits over 4-week low as dollar edges higher

Gold prices fell to a more than four-week low on Monday, as the US dollar strengthened after stronger-than-expected job data fueled speculation that the Federal Reserve would continue to raise interest rates.

As of 0045 GMT, spot gold was little changed at USD 1,865.88 per ounce, having fallen to its lowest level since January 6 earlier in the session. Gold futures in the United States rose 0.2% to USD 1,879.40.

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