Latest News Today – Gold, Silver Prices Decline Marginally On MCX


Gold futures for delivery on August 5 fell as much as 0.25 per cent.

Gold, Silver Price Today: Gold futures for delivery on August 5 fell as much as 0.25 per cent to hit an intraday low of Rs 48,162 on the Multi Commodity Exchange (MCX). In the spot market, 24 carat gold also known as fine gold was retailed at Rs 48,358 per 10 grams, according to India Bullion & Jewellers Association. 22 carat gold was priced at Rs 48,164, 18 carat gold was being sold at Rs 44,289 per 10 grams, gold with purity of 16 carat was retailed at Rs 36,269 per 10 grams and gold with 14 carat purity was priced at Rs 28,289 per 10 grams.

In international markets, Gold was set on Friday for its best week in more than two months on renewed signs that the US Federal Reserve might not taper economic support and hike interest rates in the near term.

Spot gold was steady at $1,827.20 per ounce by 10:06 am, having hit its highest since July 15 at $1,832.40 on Thursday. It was on track for its biggest weekly gain since May 21, having risen 1.4 per cent so far.

US gold futures eased 0.2 per cent to $1,831.80 per ounce.

Gold jumped as much as 1.4 per cent on Thursday following Fed chief Jerome Powell’s remarks that the US job market still had “some ground to cover” and that it was “ways away” from considering interest rate hikes.

Back home, silver was also witnessing a mild selling pressure as silver futures for delivery in September fell as much as 0.48 per cent to hit an intraday low of Rs 67,875 per kilogram on the MCX. In spot market silver was priced at Rs 67,881 per kilogram.



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Latest News Today – Sensex, Nifty End Marginally Lower; Banking Shares Fall,


Hindalco was top Nifty loser, the stock fell nearly 2 per cent to close at Rs 388.

The Indian equity benchmarks ended marginally lower as investors booked profits at record highs in banking, metal and financial services. However, buying in information technology and power shares capped the downside for the benchmarks. During the session, Nifty touched record high of 15,778.80 before succumbing to profit taking and Sensex fell as much as 297 points from day’s highest level.

The Sensex fell 53 points or 0.1 per cent lower at 52,276 and Nifty 50 index slipped 12 points to close at 15,740.

Five of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Bank index’s 1 per cent fall. Nifty Financial Services, Metal, PSU Bank and Private Bank indices also closed lower.

On the other hand, information technology, power, auto, realty and FMCG shares witnessed buying interest.

Mid- and small-cap shares outperformed their larger peers as Nifty Midcap 100 index rose 0.6 per cent and Nifty Smallcap 100 index advanced 0.5 per cent.

Among the individual shares, shares of Gautam Adani-led power producer – Adani Power – have rallied a whopping 57 per cent in the last four trading sessions, data from stock exchanges showed. In Tuesday’s session Adani Power shares rose as much as 19.33 per cent to hit record high of Rs 151.50 on the back of heavy trading volumes.

Hindalco was top Nifty loser, the stock fell nearly 2 per cent to close at Rs 388. Tata Steel, JSW Steel, Kotak Mahindra Bank, HDFC, State Bank of India, HDFC Bank, Shree Cements, Power Grid and UltraTech Cement also fell between 0.9-1.7 per cent.

On the flipside, Tata Motors, Tech Mahindra, Bharti Airtel, Indian Oil, HCL Technologies, Infosys, HDFC Life, Bharat Petroleum and Britannia Industries were among the gainers.

The overall market breadth was extremely positive as 1,838 shares ended higher while 1,365 closed lower on the BSE.



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Latest News Today – Gold, Silver Prices Decline Marginally On Akshaya


Akshaya Tritiya 2021: 24 carat or fine gold was priced at Rs 47,760 per 10 grams.

Prices of precious metals (gold and silver) declined marginally on Multi Commodity Exchange on Akshaya Tritiya day, the day considered by many as an auspicious to make purchases of precious metals like gold and silver believing that it will bring good luck. Price of gold futures for delivery in June on the Multi Commodity Exchange declined as much as 0.2 per cent to Rs 47,343 per 10 grams. In the spot market, 24 carat or fine gold was priced at Rs 47,760 per 10 grams, 22 carat gold was sold at Rs 46,140, 18 carat gold was priced at Rs 38,210 and 14 carat gold was sold at Rs 31,760, according to India Bullion and Jewellers Association (IBJA).

“COMEX gold trades little changed near $1820/oz after a 0.1 per cent gain yesterday. Gold stabilized as US bond yields eased back after testing the highest level in more than a month. Also supporting price is increased tensions between Israel and Gaza. However, weighing on price is ETF outflows, concerns about consumer demand in India and increasing debate that inflation pressure may cause monetary tightening. Gold may remain choppy reflecting volatility in the US dollar however we expect buying interest to emerge at lower levels as Fed is likely to maintain a dovish stance,” said Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities. 

In international markets, gold was Gold prices fell on Friday and were on track for a weekly loss, as firmer dollar and rising U.S. Treasury yields dampened the metal’s safe-haven appeal.

Spot gold was down 0.3 per cent at $1,821.89 per ounce by 0401 GMT. For the week, bullion has lost nearly 0.5 per cent.

U.S. gold futures eased 0.1 per cent at $1,822.10.

Benchmark U.S. 10-year Treasury yields were trading above the key 1.6 per cent level and were on track for a strong weekly rise. Higher bond yields raise the opportunity cost of holding non-interest bearing gold.

Back home, silver prices were also trading marginally lower on Akshaya Tritiya day. Silver futures for delivery in July declined as much as 0.19 per cent to hit an intraday low of Rs 70,337. In spot market silver was priced at Rs 70,948 per kilogram.



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Latest News Today – Gold Trades Marginally Higher, Silver Declines On Profit


In spot market, 24 carat gold or fine gold rose was priced at Rs 47,850 per 10 grams.

Gold, silver price today: Gold futures prices for delivery on June 4 were trading marginally higher on the Multi Commodity Exchange while silver futures for delivery in July slipped marginally on account of profit booking after a firming up in the past few days. Gold futures for delivery in June rose as much as 0.13 per cent to hit an intraday high of Rs 48,013 on the MCX. In spot market, 24 carat gold or fine gold rose was priced at Rs 47,850 per 10 grams, gold with purity of 22 carat was sold at Rs 46,230 per 10 grams, 18 carat gold was sold at Rs 38,280 and 14 carat was retailed at Rs 31,820 per 10 grams, according India Bullion and Jewellers Associations.

In international markets, gold prices held steady on Tuesday as investors awaited US consumer price data due later this week to measure whether inflationary pressure is building, with a weaker dollar and a pullback in Treasury yields supporting the metal.

Spot gold was unchanged at $1,835.41 per ounce by 9:10 am, after hitting its highest since February 11 at $1,845.06 on Monday.

US gold futures were little changed at $1,836.90 per ounce.

“Although gold extended higher earlier today, it’s struggling to continue building momentum and part of that is concern about inflation… it isn’t a given that those job numbers mean that the Fed won’t act,” DailyFX currency strategist Ilya Spivak said.

There is significant resistance for gold within the $1,855-$1,875 area, while support is around the $1,800 level, Spivak said.

Back home, silver futures for delivery in July slipped 0.37 per cent on the MCX on account of profit booking. In spot market silver was priced at Rs 70,835 per kilogram.

In international markets, silver was steady at $27.30, while platinum was down 0.1 per cent to $1,245.68.



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Latest News Today – Maruti Suzuki Trades Marginally Higher Ahead Of March


Maruti Suzuki shares traded 0.16 per cent higher at Rs 6,650.

Shares of the country’s largest car maker Maruti Suzuki were trading marginally higher ahead of March quarter earnings. Maruti Suzuki shares rose 0.2 per cent to Rs 6,652 ahead of March quarter earnings. The stock rose as much as 0.66 per cent to hit an intraday high of Rs 6,684.95. Maruti Suzuki shares witnessed lower than usual trading volumes as 19,000 shares changed hands on the BSE compared with an average of 56,000 shares traded daily in the past two weeks.

Maruti Suzuki hiked prices on selected models from April 16 due to an increase in various input costs. According to a regulatory filing by the company to stock exchanges, the weighted average price increase in ex-showroom prices (Delhi) across selected models is 1.6 per cent. This was the second price hike on cars by the company this month, and the third hike since February.

In quarter ended December 2020, Maruti Suzuki sold a total of 495,897 vehicles during the third quarter – up 13.4 per cent compared with the year-ago period.

The automaker’s net profit grew 24 per cent for the quarter ended December 31, on the back of strong sales. Net profit for Maruti rose to Rs 1,941 crore as sales grew Rs 22,367 crore – an increase of 13.2 per cent compared with the same period previous year.

“These results have to be viewed in the context that in the previous year FY 2019-20, sales volume declined by 16 per cent for the company and about 18 per cent for the industry,” Maruti said in a statement.

As of 12:36 pm, Maruti Suzuki shares traded 0.16 per cent higher at Rs 6,650, outperforming the Sensex which was up 0.84 per cent.



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At 0.25%, Exports Decrease Marginally In February, Trade | Sidnaz Blog


The country’s merchandise exports in February 2021 were $27.67 billion, showed government data

The country’s trade deficit in goods widened to $12.88 billion in February from $10.16 billion during the corresponding period a year earlier, according to preliminary data released by the government on Tuesday, March 2. Merchandise exports declined 0.25 per cent in February from a year earlier to $27.67 billion, while imports were up 6.98 per cent to $40.55 billion. India was a net importer in February 2021 with a trade deficit of $12.88 billion, as compared to $10.16 billion in the corresponding month last year, improving by 26.74 per cent. (Also Read: At 0.14%, Exports Grew Marginally In December, Trade Deficit Rose To $15.44 Billion )

Merchandise exports in February 2021 were $27.67 billion as compared to $27.74 billion in the corresponding month last year, registering a decrease of 0.25 per cent. On the other hand, imports in February were $40.55 billion, as compared to $37.90 billion in the corresponding month last year, registering an increase of 6.98 per cent.

According to data released by the Ministry of Commerce and Industry, the exports during the period of April-February2020-21 were $ 255.92 billion, as compared to $ 291.87 billion registered in the year-ago period. This exhibits a de-growth of 12.32 per cent. The imports during April-February 2020-21 were $ 340.88 billion, as compared to $ 443.24 billion registered in the year-ago period, showing a de-growth of 23.09 per cent.

Last month, the value of non-petroleum exports was $25.16 billion, registering a growth of 3.55 per cent over the corresponding month last year. The value of non-petroleum and non-gems and jewellery exports in February 2021 was $22.48 billion as compared to $ 21.28 billion in the corresponding month last year, registering a growth of 5.65 per cent.



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Rupee Slips Marginally To 72.74 Against Dollar Amid | Sidnaz Blog


Rupee Vs Dollar Today: Rupee settled at 72.74 against the American currency

Rupee Vs Dollar: The rupee settled five paise lower against the US dollar on Wednesday, February 16, at 72.74 (provisional) tracking losses in the domestic equity markets and a stronger American currency. At the interbank foreign exchange market, the domestic unit opened at 72.90 against the dollar and registered an intra-day high of 72.72. It witnessed a low of 72.92. In an early trade session, the local unit slumped as much as 23 paise to 72.92 against the greenback. The rupee closed five paise lower at 72.74 against the American currency. On Tuesday, February 16, the local unit had settled at 72.69 against the dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, gained 0.35 per cent to 90.82. “Today”s Fed minutes will decide whether USDINR spot will appreciate or not because Powell was dovish in his recent speech, if the same is reflected by all the FOMC members then we may see bearishness to continue in USDINR spot,” said Rahul Gupta, Head Of Research-Currency, Emkay Global Financial Services.

“Also, it depends on how US yields react to the fiscal stimulus package as it will increase inflationary pressure. Currently, the spot is trading in between 72.50-73 and we expect the range to stay intact in near-term. Only a consistent trading above 73 will push the spot towards 73.25-73.30,” he added.

On the domestic equity market front, the BSE Sensex ended 400.34 points or 0.77 per cent lower at 51,703.83, while the broader NSE Nifty declined 104.55 points or 0.68 per cent to 15,208.90. 

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”Retail participation continues to remain strong though and futures long open interest for Retail continued to be slightly above last month at 550k lots. Financials and energy sectors have been leaders over the last week, while consumer staples and siscretionary sectors have been laggards,” said S Hariharan, Head – Sales Trading, Emkay Global Financial Services.

”Looking ahead, a sharp rise in US Treasury yields and pick up in commodity prices would have negative implications for foreign flow into bonds, and some collateral impact on INR as well. In this context, one can expect more defensive sectors to remain well-bid in the near term,” he added.

According to exchange data, the foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,144.09 crore on February 16. Brent crude futures, the global oil benchmark, climbed 0.60 per cent to $ 63.73 per barrel.



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Rupee Slips Marginally To 72.87 Against Dollar Amid Firm | Sidnaz Blog


Rupee Vs Dollar: Rupee settled lower to 72.87 against the dollar

After opening flat in early trade session. the rupee slipped three paise lower against the US dollar on Thursday, February 11, to close at 72.87 (provisional) following a firm trend in the domestic equity markets. At the interbank foreign exchange market, the domestic unit opened at 72.81 against the dollar and registered an intra-day high of 72.65. It witnessed a low of 72.87. In the early trade session, the domestic unit opened on a flat note, rising three paise to 72.81 against the greenback. It settled at 72.87 against the American currency, registering a fall of three paise over its previous close. On Wednesday, February 10, the local unit settled at 72.84 against the dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.02 per cent to 90.38. ”USDINR in the same range of 72.75/73.00 and all others are selling while RBI is buying. Yesterday in futures is closed around 72.80 but RBI is just not allowing the downside to be breached and on upticks there are large number of sellers so it is not able to breach 73.00 levels,” said  said Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors. 

”Best is to receive the premium and sit tight on the position else daily carry goes. Importers to just hedge their very near term and exporters to keep selling the upticks which is rare these days,” he added. On the domestic equity market front, the BSE Sensex ended 222.13 points or 0.43 per cent higher at 51,531.52, while the broader NSE Nifty advanced 66.80 points or 0.44 per cent to 15,173.30. ‘

“The Nifty/Sensex closed at the highest point of the day on the weekly closing of the index options. Index giant Reliance Industries has pulled the market sentiment otherwise the market participants were more interested in small-cap stocks throughout the day. Today, the Nifty Small-Cap Index surged and more than 60 per cent of the stock closed in the positive territory,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

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”Based on the market closing, we can conclude that the market is consolidating and would remain volatile between the 15200/51700 and 15000/51100 levels until the market closes at the 15200/51700 level,” he added.

According to exchange data, the foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,786.97 crore on February 10. Brent crude futures, the global oil benchmark, fell 0.70 per cent to $ 61.04 per barrel. 



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Sensex, Nifty End Volatile Session Marginally Lower | Sidnaz Blog


The Indian equity benchmarks ended Wednesday’s volatile session marginally lower as gains in Reliance Industries, HDFC, TCS and Bajaj Finance were offset with losses in HDFC Bank, Infosys, Bharti Airtel, Larsen & Toubro, Axis Bank and ICICI Bank. For most part of the day benchmarks traded with a negative bias as investors were seen booking profits at record highs. However, late buying in last 30 minutes of trade led to indexes close on a flat note. The Sensex moved in a band of 667 points and Nifty 50 index touched an intraday high of 15,168.25 and a low of 14,977.20.

The Sensex ended 20 points lower at 51,309 and Nifty 50 index slipped 3 points to settle at 15,106.

The Sensex and Nifty have gained more than 10 per cent in February on optimism from a high-spending budget and upbeat corporate earnings, but with benchmarks already scaling multiple record highs, the rally has been losing steam.

“Nifty can go down to 14,800 levels in the near term on account of profit booking at record highs. Traders should sell Nifty with target of 14,800,” Sumeet Bgadia, associate director at Choice Broking told NDTV.

Six of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Realty index’s 1.6 per cent gain. Nifty Auto, IT, Pharma and PSU Bank indexes also ended higher.

On the other hand, Nifty Bank, Private Bank and Financial Service indexes ended lower.

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Mid- and small-cap shares also ended higher as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose 0.8 per cent.

Cipla was top Nifty gainer, the stock closed nearly 3 per cent higher at 865. Bajaj Finserv, SBI Life, HDFC Life, Mahindra & Mahindra, GAIL India, Bajaj Finance, Titan and Reliance Industries rose between 1-2.75 per cent.

On the flipside, Eicher Motors fell 2 per cent after it reported December quarter earnings. Bharti Airtel, HDFC Bank, Tata Steel, Britannia Industries, ONGC, Indian Oil, Larsen & Toubro, UPL and Axis Bank declined between 0.7-1.6 per cent.

The overall market breadth was negative as 1,588 shares ended lower while 1,406 closed higher on the BSE.



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Rupee Gains Marginally To 72.93 Against Dollar Amid | Sidnaz Blog


Rupee Vs Dollar: The rupee ended at 72.93 against the American currency

The rupee gained marginally by three paise against the US dollar on Friday, February 5, to settle at 72.93 (provisional) after the Reserve Bank of India kept the policy rate unchanged but maintained its accommodative stance during its bi-weekly Monetary Policy Committee meeting today. At the interbank foreign exchange market, the domestic unit opened at 72.98 against the dollar and registered an intra-day high of 72.80. It witnessed a low of 72.99. In an early trade session, the local unit opened on a flat note to 72.95 against the dollar. The rupee ended at 72.93 against the American currency, registering a rise of three paise from its previous close. On Thursday, February 4, the rupee had ended at 72.96 against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.13 per cent to 91.41. Throughout the week, the rupee witnessed both steady and volatile sessions as it settled on a flat note against the greenback for two straight trading sessions. During the week, it also closed at marginal gains, even as domestic equities scaled fresh highs. 

“Indian Rupee gained strength amid surge in domestic markets and as Reserve Bank of India kept repo rate unchanged at 4.0 per cent and maintained its accommodative stance. However, sharp upside was prevented on strong dollar and surge in crude oil prices,” said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.

The six-member Monetary Policy Committee (MPC) voted to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target, according to Governor Shaktikanta Das.

On the domestic equity market front, the BSE Sensex ended 117.34 points or 0.23 per cent higher at 50,731.63, while the broader NSE Nifty advanced 28.60 points or 0.19 per cent to 14,924.25. ”Indian benchmark equity indices managed to end with small gains on Feb 05, ending higher for the fifth straight session after hitting record highs in early trade. The outcome of the RBI’s MPC had little effect on the markets”, said Mr. Deepak Jasani, Head of Retail Research, HDFC Securities.

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”Nifty gained handsomely in the week gone by aided by the announcements in the Union Budget. It has turned back from 15,000 after breaching it during the day. However, it may make another attempt to touch/breach that number in the coming week. Advance decline ratio again ended in the negative reflecting some profit-taking in midcaps (as the attention has shifted to large-caps lately),” he added.

According to exchange data, the foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,936.74 crore on February 4.  Brent crude futures, the global oil benchmark, rose 1.24 per cent to $ 59.57 per barrel. 



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