victorybull

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  • The Sensex Drops 236 Points In Turbulent Trade, Reversing Early Gains

    The Sensex Drops 236 Points In Turbulent Trade, Reversing Early Gains

    On Tuesday, equity indices failed to hold onto their morning gains, with the Sensex dropping 236 points due to a sell-off in information technology firms and negative global market trends The opened higher but was unable to maintain its gains, falling 236 points, or 0.43 percent, to 54,052.61. It traded between 53,886.28 and 54,524.37 during the day. The broader NSE Nifty ended at 16,125.15, down 89.55 points, or 0.55 percent Among the Sensex pack’s biggest laggards were Tech Mahindra, Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank.




    and Bajaj Finserv. Dr Reddy’s Laboratories, HDFC, Power Grid Corporation of India, Kotak Mahindra Bank, HDFC Bank, and Nestlé, on the other hand, were among the biggest gainers Hong Kong, Shanghai, Seoul, and Tokyo all finished lower in Asia. In the afternoon, European exchanges were also trading down. On Monday, US stock markets finished higher Brent crude, the international oil standard, fell 0.46 percent to $112.9 per barrel According to stock market data, foreign institutional investors continued their selling binge on Monday, offloading shares worth a net Rs 1,951.17 crore.

  • Bank of Baroda Expects ECB Inflows To Reduce As Iterest Rates Rise And The Currency Depreciates

    Bank of Baroda Expects ECB Inflows To Reduce As Iterest Rates Rise And The Currency Depreciates

    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 debt. According to RBI data, ECB approvals increased to $38.2 billion in FY22 from $34.8 billion the previous year.





    The relative cost advantage resulting from lower global interest rates for an extended period of time drove this increase in the use of the ECB route. It also supported growth by supplementing the country’s credit demand.

    With expected to rise, the relative appeal of ECB inflows may wane. In addition, the Indian currency’s recent devaluation will weigh on ECB inflows this year In a research note, BOB stated that on-lending/sub-lending is the most common reason for businesses to borrow cash from abroad. In FY22, its market share was 21.5 percent The firms also used monies raised through ECBs to fund previous ECBs. In FY22, this group had a share of 18.4 percent Rupee loan refinancing through new ECB approvals has climbed from from 6.5 percent in FY17 to 13.2 percent in FY22. According to BOB, ECBs are increasingly being used for new projects as well as modernization of existing ones.




    The capital market, banks, and foreign collaborators were the most common sources of ECB funding, according to data from the previous four year Lower global interest rates have prompted companies to look for funding in capital markets all over the world. Despite a substantial drop in global interest rates, the share of overseas capital markets in overall ECB approvals has risen sharply from 12.6 percent in FY19 to 33.2 percent in Other commercial banks’ market share has dropped from 44.4 percent in FY19 to 25.3 percent in FY22. Approvals from Indian commercial bank branches abroad, on the other hand, climbed from 14.7 percent to 19.8% in FY22.

  • In Early Trade, The Rupee Is Trading Flat Against The US Dollar

    In Early Trade, The Rupee Is Trading Flat Against The US Dollar

    On Tuesday, the rupee opened flat versus the US dollar, owing to a lackluster trend in domestic equity markets and continued foreign capital outflows The rupee opened sluggish versus the dollar at 77.56 on the interbank foreign exchange, before becoming volatile and trading in a narrow range of 77.56 to 77.51. The native currency was trading at 77.56 against the US dollar, down barely 1 paisa from the previous close The rupee had finished at 77.55 versus the dollar in the previous session. The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.19 percent at 102.27.






    The was down 59.07 points, or 0.11 percent, at 54,229.54 points, while the broader NSE Nifty was down 28.15 points, or 0.17 percent, at 16,186.55 points in the domestic equity market. Brent crude futures fell 0.61 percent to USD 112.73 a barrel, the global benchmark According to stock exchange data, foreign institutional investors were net sellers in the capital market on Monday, offloading shares worth Rs 1,951.17 crore RBI Governor Shaktikanta Das intimated on Monday that another interest rate hike in early June would be necessary to bring the stubbornly high inflation rate down. The next meeting of the Monetary Policy Committee (MPC) is scheduled for June 6-8.

  • The Dollar Takes A Break As US Yields Drop Ahead Of CPI

    The Dollar Takes A Break As US Yields Drop Ahead Of CPI

    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 in the previous quarter, gained ground against the USD as the US 10-year yield fell below 3% in European morning trading.
    Investors want to know if the US has achieved its inflation high, which might trigger the dollar and other significant currencies to react aggressively. The US CPI is expected to drop to 8.1 percent in April from a 41-year high of 8.5 percent in March, marking the first drop in annual inflation in seven months.





    However, rising energy costs on the one hand, and pressure on services pricing as a result of a reasonably strong US employment market on the other, might potentially lead to positive April inflation surprises Meanwhile, risk appetite is increasing today, with the Australian currency (AUD) and the New Zealand dollar (NZD) among the best performers, after Shanghai reported a 51% drop in new daily Covid-19 infections, while Beijing reported fewer instances as well After the head of the Bundesbank suggested that a rate hike could come in July and that waiting to change monetary policy is a risky strategy, the euro
    The Norwegian krone (NOK) increased by over 1% on the day, while the Canadian dollar (CAD) increased by 0.4 percentThe high-beta Swedish krona (SEK) was also one of the best performers today, rising roughly 1% against the dollar.

  • India’s Foreign Exchange Reserves Have Plummeted By $1.7 Billion, Reaching A one-Year Low

    India’s Foreign Exchange Reserves Have Plummeted By $1.7 Billion, Reaching A one-Year Low

    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 RBI is apparently intervening across all markets to defend the rupee, which is under pressure due to large outflows by foreign investors. In the six months leading up to March 2022, foreign exchange reserves fell by USD 28.05 billion.




    According to RBI’s weekly data, the loss in reserves was due to a drop in Foreign Currency Assets (FCA), a major component of overall reserves, and gold reserves during the reporting week.

    In the week ending May 6, FCA fell by USD 1.968 billion to USD 530.855 billion The effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets when expressed in dollar terms The data showed that gold reserves climbed by USD 135 million to USD 41.739 billion in the reporting week. The International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) increased by USD 70 million to USD 18.370 billion According to the data, the country’s reserve position with the IMF fell by USD 11 million to USD 4.99 billion in the reporting week.

  • Gokaldas Exports rises 9% to an all-time high, indicating a positive business outlook

    Gokaldas Exports rises 9% to an all-time high, indicating a positive business outlook

    On the back of a positive business outlook, Gokdaldas Exports’ stock hit an all-time high of Rs 505.65 on the BSE in intra-day trade on Wednesday The company’s stock, which is in the textiles and apparel business, has surpassed its previous high of Rs 488, which it reached on May 5, 2022. It has outpaced the market by 30 percent in the last month, compared to a 4 percent fall in the Gokaldas Exports achieved the greatest quarterly performance for the January-March quarter (Q4FY22), thanks to a growing order book and the ability to weather supply chain hiccups.




    In Q4FY22, the company’s consolidated profit after tax (PAT) more than doubled to Rs 61 crore, up from Rs 16 crore the previous quarter.

    Due to strong operating leverage, its consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda) margin increased 170 basis points quarter over quarter and 365 basis points year over year to Revenue increased by 58% year on year (YoY) to Rs 588 crore, the largest quarterly revenue ever, compared to Rs 373 crore in Q4FY21. Export revenue grew by 58.3 percent year over year. According to the corporation, robust revenue growth was supported by deep interaction with key customers and capacity expansion Strong capacity expansion and a speedy ramp-up of production were the key drivers of growth. A higher operating profit was driven by increased volume, a better product mix, and enhanced operational efficiency. The company’s capacity to withstand production and supply chain disruptions is reflected in the year’s results, according to the company.





    For the entire fiscal year 2021-22 (FY22), consolidated profit after tax (PAT) increased by 342% year on year to Rs 117 crore, while operating revenue increased by 47.9% to Rs 1,790 crore. Ebitda’s margin increased 270 basis points to 12.0% from On the forecast, management stated that the order book for FY23 remains hopeful. Despite the predicted uncertainties from a combination of headwinds and tailwinds, the company sees growth potential in Continued global sourcing shift away from China, supplier consolidation towards efficient and well-capitalized players, supply-side instabilities in countries such as China, Vietnam, and Sri Lanka, strengthening Dollar, the announcement of Production Linked Incentive (PLI), and signing of free trade agreements (FTAs) with key markets are some of the opportunities.

  • Metal Stocks Rise On Renewed Demand Expectations; Hindalco And Vedanta Both Gain 7%

    Metal Stocks Rise On Renewed Demand Expectations; Hindalco And Vedanta Both Gain 7%

    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 Tata Steel also had gains of The Nifty Metal index was the highest gainer among sectoral indexes at 10:36 a.m., gaining 4.4 percent versus 1.3 percent for the Nifty50 index Despite today’s rally, most metal equities have had a 30% correction in the last month. Vedanta, Steel Authority of India (SAIL), Hindalco, JSW Steel, Hindustan Zinc, NMDC, Tata Steel, and Jindal Steel, on the other hand, were down between 13% and 30%. Meanwhile, the Nifty Metal index has dropped 15% in the last month, compared to an 8% drop in the Nifty50 index.





    Shanghai laid out plans on Monday for the return to normalcy on June 1 and declared the six-week-long COVID lockdown complete In April, China’s economic activity slowed drastically as lockdowns wreaked havoc on industrial production and employment, fueling predictions that the economy could contract in the second quarter Industrial metals prices surged on Monday as a result of China’s announcement that COVID restrictions would be eased.

  • As investors seek safe haven assets, the rupee hits a new all-time low

    As investors seek safe haven assets, the rupee hits a new all-time low

    The rupee struck a new all-time low versus the dollar in early trade on Tuesday, trading at 77.78/$, as the dollar strengthened against other foreign currencies, prompting investors to seek safe haven assets This is the second trading session in a row that the Indian currency has dropped to new lows. The rupee.





    touched an intraday low of 77.63/$ on Friday, the preceding trading day The Reserve Bank of India increased its currency market intervention, slowing the rate of decline. Following Russia’s invasion of Ukraine, the Indian currency, which has devalued by roughly 4% in 2022, came under pressure. Since the battle began in late February of this year, the foreign reserves have dropped by roughly $35 billion.

  • Sensex Stops 6-Day Losing Streak With A 180-Point Gain; DMart Rallies 10%, ACC 4%

    Sensex Stops 6-Day Losing Streak With A 180-Point Gain; DMart Rallies 10%, ACC 4%

    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 biggest gainers on the Sensex index today were NTPC, Bajaj Finance, Maruti Suzuki, SBI, HDFC, Kotak Bank, M&M, and IndusInd Bank, which rose between 1.6 and 2.9 percent.





    Ultratech Cement, Asian Paints, ITC, TCS, HCL Tech, Nestle, and Dr Reddy’s Labs were the worst performers, with losses ranging from The BSE MidCap and SmallCap indexes outpaced the benchmarks by 1.5 percent and 1.15 percent, respectively, in the wider market. The Nifty PSU Bank index was the best performer, up 3%, while the Nifty IT index was the poorest performer, down 0.75 percent.

  • Today’s gold price is Rs 50,450 per 10 gramme; silver is Rs 59,400 per kilogramme

    Gold, SIlver, Price, India,

    On Monday, the price of a gramme of 24 carat gold remained steady at Rs 50,450. Silver remained constant as well, selling for Rs 59,400 per kilogramme.

    On Monday, the price of 10 kilos of 22 carat gold remained steady, with the precious metal selling for Rs 46,250 per gramme.

    The price of 10 grammes of 24 carat gold in Delhi and Mumbai is the same as the price of 10 grammes of 24 carat gold in Bangalore, Hyderabad, and Kolkata, at Rs 50,450 each.

    On Monday, however, 10 kilos of 24 carat gold in Chennai was selling for Rs 51,670.
    The price of 10 grammes of 22 carat gold in Delhi and Mumbai is Rs 46,250, which is the same as the price of 10 grammes of 22 carat gold in Bangalore, Hyderabad, Kolkata, and Kerala.

    While 10 grammes of 22 carat gold costs Rs 47,370 in Chennai.

    The gold rates in India are influenced by a variety of factors, including international gold prices, local levies, and currency fluctuations.

    The price of gold varies by area due to numerous factors such as making costs, excise duty, state taxes, and so on.

    One kilogramme of silver costs Rs 59,400 in Delhi, Mumbai, and Kolkata, and Rs 59,400 in Bangalore, Hyderabad, and Chennai is Rs 63,700