Banks, financial, FMCG, metal, realty, and consumer durables sectors also closed higher. Shares of IIFL Securities closed 16% lower a day after SEBI barred the brokerage firm from taking any new client for two years for alleged regulatory violations that pertain to the segregation of clients' funds.įrom the sectoral front, Nifty IT rose 0.78% and Nifty Auto surged 0.74%. On the flip side, Bajaj Finance, Bajaj Finserv, Sun Pharma, M&M, UltraTech Cement, and IndusInd Bank closed with losses. Tech Mahindra, NTPC, L&T, Axis Bank, and Kotak Bank also closed with gains. From the Sensex pack, Tata Motors, Power Grid, and HCL Tech were the top performers, rising 2-3%. The blue-chip Nifty index ended 61 points or 0.33% higher at 18,816. BSE Sensex rose 159 points, or 0.25%, to 63,328 led by an uptick in tech and financial stocks while caution ahead of US Federal Reserve Chair Jerome Powell's congressional testimony on Wednesday capped the gains. India's benchmark indices reversed their initial losses to advance in the last leg of trade on Tuesday. You can find more information in the detailed table of forecast changes.Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. coal production (current forecast) (million short tons) electric power sector generation from coal (current forecast) (billion kilowatthours) renewable diesel production (current forecast) (million barrels per day) LNG exports (current forecast) (billion cubic feet per day) U.S natural gas consumption in the electric power sector (current forecast) (billion cubic feet per day) The previous STEO forecast was released June 6. The current STEO forecast was released July 11. This month’s Between the Lines article discusses our U.S. We periodically publish report and article supplements to the STEO to provide an in-depth analysis of special topics related to our forecasts. coal-fired generation during 2H23 will be 75 billion kilowatthours (18%) less than 2H22. The increase in solar capacity, along with lower natural gas prices, reduces our forecast of coal-fired electricity generation this year. solar generation this summer (June, July, and August) than last summer. Solar has been the leading source of new generating capacity in the United States so far this year, and the new capacity contributes to our forecast of 23% more U.S. Henry Hub prices in our forecast average more than $2.80 per million British thermal units (MMBtu) in the second half of 2023 (2H23), up from about $2.40/MMBtu in the first half of the year. We expect the Henry Hub spot price will rise in the coming months as declining natural gas production narrows the existing surplus of natural gas inventories compared with the five-year average. However, we still expect renewable diesel production will grow in the United States to reach 219,000 b/d in 2024. Environmental Protection Agency’s (EPA) revised Renewable Fuel Standard (RFS) rule establishing biofuel volume requirements that was issued on June 21, we have reduced our forecast for renewable diesel production growth. Crude oil prices gradually increase throughout our forecast, reaching about $80/b in 4Q23 and averaging about $84/b in 2024 because we expect that global oil inventories will decline over the next five quarters. We forecast that the Brent crude oil spot price will average $78 per barrel (b) in July. We use the S&P Global macroeconomic model, and we input our energy price forecasts to get the forecasts for the U.S. The upward revision is partially driven by an updated estimate of real GDP growth in the first quarter of 2023 (1Q23) resulting from more consumer spending and aggregate investment than assumed in last month’s STEO. GDP growth of 1.5% in 2023 and 1.3% in 2024, which is revised up from last month’s forecast of 1.3% in 2023 and 1.0% in 2024.
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