Indices at previous closing
Nifty50: 17,576 ▲237 (+1.3%)
Sensex: 58,862 ▲848 (+1.4%)
Nifty Bank: 38,505 ▲530 (+1.4%)
For more updates on F&O, click here.
Maruti Suzuki sales decline
In January 2022, the automaker’s domestic sales dropped by 7.2% year-on-year to about 1.3 lakh units. The management said that the shortage of electronic components had a minor impact on the production of vehicles.
Exports, however, rose 44% and helped overall sales. Meanwhile, the company has reportedly lined up 6 new models this year including facelifts.
ITC high on unchanged tax
Shares of FMCG and cigarette major surged 3.5% as there was no announcement in the Budget regarding a hike in taxes on tobacco and cigarettes. The rise in the stock price was supported by high volumes.
Experts believe it is a positive step as there were concerns of a rise in taxes after the World Health Organisation recommended a 75% tax on tobacco products. Meanwhile, ITC will release its December quarter results tomorrow.
Indian Hotels posts profitable Q3
In the December quarter, the owner and operator of the luxury Taj hotel chain reported a net profit of ₹76 crore in comparison to a loss of ₹119 crore in the same period last year. The profit was supported by a sharp 85% rise in the revenue to ₹1,134 crore.
It witnessed an upswing in domestic demand and recovery in the international markets. In general, the investor sentiment toward the hospitality sector was positive as the government announced extension of emergency credit line in the budget.
Sectoral indices (February 2)
| Top gainers | Top losers |
| Nifty Metal ▲ 4.4% | Nifty Auto ▼ 0.7% |
| Nifty Pharma ▲ 2.2% | Nifty PSU Bank ▼ 0.5% |
Global markets (at 8:10 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.6% |
| Nikkei 225 (Japan) | ▲ 1.5% |
| Hang Seng (Hong Kong) | ▲ 1.0% |
| SSE Composite (China) | ▼ 0.9% |
| Dow Jones (US) (February 2) | ▲ 0.7% |
| NYSE (US) (February 2) | ▲ 1.0% |
| Nasdaq (US) (February 2) | ▲ 0.7% |
| S&P 500 (US) (February 2) | ▲ 0.6% |
Fact of the day
Indira Gandhi was the first women finance minister of India to present the budget in 1970-71.
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