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Stock market updates on Wednesday, January 31, 2024: Equity markets may remain volatile today ahead of the key US Fed policy decision later tonight, and the annoucement of Interim Budget Thursday.
At 08:20 AM, Gift Nifty futures quoted around 21,620, hinting at around 50-point dip at the opening bell on the Nifty 50.
Among individual stocks – Ambuja Cements, Atul Auto, Bank of Baroda, Dabur, DB Realty, Fino Payments Bank, Godrej Consumer Products, IDFC, IRB Infra, Jindal Steel, Jubilant Foodworks, Maruti, PSB, Shree Cement, Sun Pharma and Suzlon are likely to be in focus as these companies announce Q3 results today.
Global cues
Asian markets were seen trading in a sea of red. China’s Shanghai Composite and Hang Seng tumbled over 1.5 per cent each. Japan’s Nikkei was down 0.5 per cent. Kospi and Taiwan were down 0.3 per cent.
Overnight, the US benchmark indices seesawed between zones after strong US labour data, raised doubts on how soon the Fed could cut rates. Dow Jones ended 0.4 per cent higher, while Nasdaq slipped 0.8 per cent. The S&P 500 was down 0.1 per cent.
The yield on the benchmark 10-year US Treasury note declined to 4.019 per cent.
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