On Thursday, the price of 10 grammes of 24-carat gold increased by Rs 160 to Rs 52,250, while the price of one kilogramme of silver increased by Rs 400 to Rs 62,000. The price of 10 grammes of 22-carat gold has increased by Rs 150, and the precious metal is now selling for Rs 47,900. The price of 10 grammes…
In early trade on Wednesday, the rupee rose 5 paise to 77.52 against the US dollar, as a robust trend in local equities improved investor spirits. However, forex traders claimed that rising global crude prices and continuing foreign capital outflows restricted the local currency’s appreciation bias. The rupee opened at 77.54 against the dollar on the interbank foreign exchange, then…
According to Bank of Baroda, corporate India’s offshore fundraising through external commercial borrowings (ECBs) may reduce in the coming months as monetary policy tightens and the rupee continues to depreciate. ECBs have become a significant source of funding for businesses, including public sector entities. In reality, as of the end of December 2021, ECBs amounted for 36.8% of India’s external…
The US dollar’s rally came to a halt as the DXY index dropped to 103.5 before the release of April’s US Consumer Price Index (CPI) numbers, while Treasury yields fell as investors switched away from a turbulent stock market amid fears about global growth and a potential inflation peak. The Japanese yen (JPY) and Swiss franc (CHF), the top laggards…
According to Reserve Bank of India (RBI) data released on Friday, India’s forex reserves fell by USD 1.774 billion to USD 595.954 billion for the week ended May 6 due to a drop in core currency assets. Overall reserves fell by USD 2.695 billion to USD 597.728 billion in the preceding reporting week, dropping below the USD 600 billion level.…
Metal stocks were in focus on Tuesday, as the Nifty Metal index rose 4% on the National Stock Exchange (NSE) amid hopes of a resurgence in Chinese demand and bargain buying. Individual stocks like as Vedanta and Hindalco Industries both rose 7% to Rs 307.70 and Rs 419.70, respectively. Apart from that, Hindustan Copper, National Aluminium Company, JSW Steel, and…
On Monday, equity markets closed a bumpy day in the green, increasing for the first time in seven days, as global markets backed up the trade sentiment. The benchmark S&P BSE Sensex fluctuated between 796 points and 52,974 points, or 0.34 percent higher. On the other side, the NSE Nifty closed at 15,842, up 60 points or 0.38 percent. The…
On Friday, the price of 10 grammes of 24 carat gold increased by Rs 490 to Rs 51,490, while the price of 1 kilogramme of silver increased by Rs 400 to Rs 60,800. On Friday, the price of 10 grammes of 22 carat gold increased by Rs 450, bringing the price to Rs 47,200. The price of 10 grammes of…
The Indian rupee fell to a new record low against the US dollar on Thursday, echoing losses across Asian rivals. The drop in global and local shares following the US inflation report pointed at more aggressive Fed tightening amid deteriorating investor confidence hit down by global economic slowdown. The currency began trading at 77.56 per dollar and fell to a…
When the Federal Reserve tightens, the Reserve Bank of India tries to defend its currency once more. Analysts expect it to launch a more limited defense this time, geared at fighting off the worst of speculative attacks rather than drawing a line in the sand when global capital flows are shifting and the Fed is expected to increase throughout the…
On Tuesday, the global cryptocurrency market reached its lowest point in history, with Bitcoin falling below $30,000 a coin, sending millions of investors into a panic. The whole global cryptocurrency market fell 13%, hovering around $1.37 trillion in market capitalization, its lowest level this year. Bitcoin had dropped more than 55% from its all-time high of $69,000 in November of…
Reliance Industries loses 3% after the March quarter results; it has dropped 9% in the last six days
eliance Industries (RIL) shares fell up to 3% to Rs 2,542.1 on the BSE in intraday trade on Monday after the Mukesh Ambani-led oil-to-chemicals (O2C) firm reported a consolidated net profit of Rs 16,203 crore for the quarter ended March 31, 2022 (Q4 FY22), up 22.5 percent from the year-ago period’s Rs 13,227 crore, but falling short of expectations. The stock was…