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Indian Oil Corporation (IOC) has reported a 50 percent year-on-year rise in standalone net profit at Rs 7,265 crore in Q4FY25 on account of inventory gains and robust domestic sales. It reported net profit of Rs 4,838 crore in the year-ago period.

The oil major’s revenue from operations stood at Rs 2.18 lakh crore during the quarter, lower than Rs 2.20 lakh crore reported in the same period last year.

The refinery throughput of the company was 18.548 million metric tonne (MMT) during the quarter, compared to 18.282 MMT last year.

On the marketing front, quarterly domestic market sales of IOCL came in at 24.601 MMT during Jan-Mar 2025 from 23.737 MMT in last year. Exports in the quarter came in at 1.344 MMT.

The U.S. dollar headed for a third-straight weekly gain as signs of progress in Washington's talks with some of its trading partners and better-than-expected data eased concerns over investments in the world's largest economy.

The dollar, U.S. Treasuries and shares have bounced from steep declines last month as President Donald Trump's erratic tariff policies drove fears of a recession and sapped confidence in U.S. assets.

The dollar index was little changed in early Asia trading, poised for a 0.5% gain in a week of relatively light trading due to holidays. The greenback traded at 145.53 yen, just off a three-week high reached on Thursday.

The euro was little changed at $1.1290, near a three-week low. The Aussie dollar edged up 0.2% to $0.6396.

Asian stocks edged up and US equity-index futures reversed losses Friday after China said it’s evaluating possible US trade talks, boosting optimism that tariff tensions will tamp down.

The Foreign institutional investors (FIIs) extended their buying on 11th consecutive session on April 30 as they bought equities just over Rs 50 crore. Domestic institutional investors (DIIs) also extended their buying on fourth day as they bought equities of Rs 1792 crore....

Trends on GIFT Nifty indicate a positive start for the broader index in India, with a gain of 37.5 points or 0.15 percent. The Nifty futures were trading around 24,432 level.

Oil prices pulled ahead in early Asian hours on Friday after China said its door is open for talks with the United States, raising hopes of a de-escalation in a bitter trade war between the world's two largest economies.

Brent crude futures rose 38 cents, or 0.6%, to $62.51 a barrel, while U.S. West Texas Intermediate crude futures added 38 cents, or 0.6%, to $59.62 a barrel.

The US economy unexpectedly contracted in the first three months of this year, according to fresh data published Wednesday, due largely to a surge in imports ahead of the introduction of sweeping tariffs by President Donald Trump.

The gross domestic product of the world's largest economy decreased at an annual rate of 0.3 percent in the first quarter, after growing 2.4 percent in the final months of 2024, according to an estimate from the US Commerce Department.

Wednesday's data was sharply below the market consensus estimate of 0.4 percent growth, according to Briefing.com.

Revenue came in at $5.1 billion, up 7.5 percent or 8.2 percent in constant currency, form the year-ago period. Subsidiaries Belcan and Thirdera contributed approximately 400 basis points to revenue growth ...

GST collection rose to an all time high of Rs 2.37 lakh crore from Rs 1.96 lakh crore in the previous month, according to data released by the government on May 1.

The government had collected Rs 2.1 lakh crore in April 2024. The annualised pace of collections at 12.6 percent was also highest in 17 months.

The stellar performance follows from the previous quarter. Quarterly collections had hit a new high of Rs 5.75 lakh crore in the last quarter of FY25, as consumption helped provide support to the economy.

IGST revenues were up 20.8 percent, while domestic revenues expanded 10.7 percent for the month.

Wall Street stocks rallied and gold prices slid on Thursday as solid earnings from big tech bolstered investor risk appetite.

All three major U.S. stock indexes began the month with solid gains, with upbeat quarterly results from Meta Platforms and Microsoft benefiting the Nasdaq most, sending the tech-laden index up 1.5%.

The Dow Jones Industrial Average rose 83.42 points, or 0.21%, to 40,752.78, the S&P 500 rose 35.04 points, or 0.63%, to 5,604.11 and the Nasdaq Composite rose 264.40 points, or 1.52%, to 17,710.74.

The rising volatility, amidst increasing geopolitical tensions between India and Pakistan, signals a need for caution. Hence, the index is likely to remain in the range of 24,000–24,500 in the upcoming sessions, experts said....

#1 Asian markets rise as China evaluates trade talks with the US

#2 GIFT Nifty hints at positive start

#3 US Futures edge higher

#4 Wall Street kicks off May on a positive note

#5 Dow, S&P 500 clock 8-day winning streak

#6 Microsoft, Meta earnings fuel a rally in AI stocks

#7 In extended trading, Apple slid 4% as Services division fell short

#8 Apple expects to add $900 mn in costs in the current quarter due to tariffs

#9 Amazon dropped 2% after issuing light guidance

#10 Amazon highlights tariffs behind soft guidance

#11 US GDP contracts for the first time since 2022

#12 Trump says US GDP contraction has ‘nothing to do with tariffs’

#13 US initial jobless claims surge to a two-month high

#14 US April jobs report due today

#15 US payrolls may have grown by 133,000 vs 228,000 in March

#16 US unemployment rate may hold steady at 4.2%

#17 FTSE’s winning streak on par with best ever run in 2017

#18 US 10-year yield rises over 3 bps to yield 4.2%

#19 USD index trades above 100

#20 Oil rises as Trump imposes new Iran sanctions

#21 Trump: Any country buying Iranian oil will not be allowed to do any business with US

#22 Gold slips to 2-week low on trade talk hopes

Benchmark indices Sensex and Nifty 50 ended a volatile trading session nearly flat amid lingering geopolitical concerns and a cautious corporate guidance by Bajaj Finance.

At the close of trade, Sensex slipped 0.06 percent, or 46.14 points to settle at 80,242.24, while the Nifty edged lower by 0.01 percent or 1.75 points, to end at 24,334.20.

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