HomeCURRENT AFFAIRSBUSINESSStock Market Update: Tata Motors suffered a loss of 5006.6 crore

Stock Market Update: Tata Motors suffered a loss of 5006.6 crore

Stock Market Update: For the domestic stock market today, the signs are mixed. In today’s business, there is a mixed trend in major Asian markets.

Whereas on Wednesday, a great rally has been seen in the US markets. The US Fed has raised interest rates by 0.75 percent for the second time in a row to control inflation.

However, it has also been indicated that the pace of increase in rates will be slow going forward. This has improved the market sentiments. On Wednesday, Dow Jones gained 436 points or 1.4 percent and closed at 32,197.59. The S&P 500 index was up 2.62 per cent and closed at 4,023.61.

While the Nasdaq gained 4.06 percent and closed at 12,032.42. Tech stocks have seen a good rally after the quarterly results of Alphabet and Microsoft.

Brent crude has risen. Crude is trading at $108 per barrel in the international market. While US crude is at $99 per barrel.

The 10-year bond yield in the US stands at 2.774 per cent. Talking about Asian markets, SGX Nifty is up 0.52 percent and Nikkei 225 is up 0.10 percent.

Strait Times is down 0.04 per cent and Hang Seng is down 0.17 per cent. Taiwan Weighted also has a slight weakness of 0.03 per cent.

The Kospi is seeing 0.77 percent gain and the Shanghai Composite 0.14 percent.

Today, there is relief again on petrol and diesel at the domestic level. Crude prices remain high, but petroleum companies have not changed the price of petrol and diesel for the 68th consecutive day.

Talking about the capital of the country, Delhi, the price of 1 liter of petrol is Rs 96.72, while the price of 1 liter of diesel is Rs 89.62. The most expensive fuel in the country is in Sri Ganganagar, Rajasthan. While the cheapest petrol is Rs 84.10 per liter in Port Blair.

The loss of Tata Motors has increased in the June quarter. The company suffered a loss of 5006.6 crores. Whereas in the same quarter a year ago, there was a loss of 4450.92 crores.

The loss of the company has increased due to the weak performance of JLR. The Conso revenue coming from operations has grown by 8.3 per cent year-on-year to Rs.71934.66 crore.

Also Read – Stock Market Update Today: Today’s Top Gainers

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