victorybull

Author: victorybull

  • Gold prices are down Rs 270 per kg, while silver is up Rs 60,000 per kg

    Gold prices are down Rs 270 per kg, while silver is up Rs 60,000 per kg

    On Thursday morning, gold prices in India fell by Rs 270 per gramme. After a Rs 250 drop, 10 gramme of 24-carat gold is trading at Rs 51,440, while 10 gramme of 22-carat gold is trading at Rs 47,150. The drop in gold prices comes after the raised interest rates for the first time since 1994 and warned of economic concerns.


    Silver, on the other hand, has seen a price increase. After a 200-rupee hike, 1 kilogramme of silver now costs Rs 60,000.

    The price of a gramme of 24-carat gold is Rs 51,440 in Delhi, Mumbai, Kolkata, Bangalore, and Hyderabad. Meanwhile, a gramme of 22-carat gold costs Rs 47, 170 in Delhi, Bangalore, Bhubneshwar, and Mangalore. In Chennai, a gramme of 24-carat gold costs Rs 51,500 while a gramme of 22-carat gold costs.



    In Delhi, Mumbai, and Kolkata, on the other hand, silver is trading at Rs 60,000 per kg. 1 kg of silver costs Rs 66,000 in Chennai, Bangalore, and Hyderabad By 4:09 p.m., spot gold had risen 1.4 percent to $1,833.42 per ounce. EDT (Eastern Daylight Time) (2009 GMT). The dollar’s depreciation boosted gold’s appeal among international buyers, while the benchmark U.S. dollar fell. Treasury yields have also fallen.

  • In early trade, the rupee rises 2 paise to 78.02 versus the US dollar

    In early trade, the rupee rises 2 paise to 78.02 versus the US dollar

    In early trade on Tuesday, the rupee bounced back from an all-time low against the US dollar, rising 2 paise to 78.02. The rupee began at 78.02 versus the dollar on the interbank foreign exchange, up 2 paise from its previous close In early trade, the native currency soared to 77.90 versus the US dollar, but it couldn’t hold on to its gains and fell to 78.06 The rupee fell 11 paise versus the US dollar on Monday, closing at a new career low of 78.04.


    According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the Indian rupee began flat versus the dollar on Tuesday, as gains from easing domestic inflation concerns offset the greenback’s overnight surge.

    Retail inflation fell to 7.04 percent in May, owing to lower food and gasoline costs, as the government and the RBI intervened with duty reductions and repo rate hikes to rein in spiralling prices.

    However, for the sixth month in a row, inflation remained over the Reserve Bank’s upper tolerance range of 6%. This might lead the central bank to raise the repo rate again at its August policy meeting. Meanwhile, remained high on Tuesday morning, limiting the upward potentia Although Asian and developing market peers have opened mixed, rising inflation estimates might keep the currencies’ tendency down, according to Iyer Fears of a global economic downturn and expectations of an aggressive rate rise path from the US Fed boosted the dollar index, which measures the greenback’s strength against a basket of six currencies, by 0.01 percent to 105.08.




    Brent crude futures dipped 0.02 percent to USD 122.25 a barrel, the global benchmark. On the domestic front, the BSE Sensex was down 145.13 points, or 0.27 percent, at 52,701.57, while the wider NSE Nifty was down 85.30 points, or 0.54 percent, at 15,689.10 According to exchange statistics, foreign institutional investors were net sellers in the capital market on Monday, offloading shares worth Rs 4,164.01 crore.

  • Interest rates on retail and bulk term deposits have been raised by the SBI

    Interest rates on retail and bulk term deposits have been raised by the SBI

    State Bank of India (SBI), the country’s largest lender, has increased interest rates on retail term deposits by 15 to 20 basis points on several tenors, effective June 14

    It has also increased interest rates on bulk term deposits by 50 – 75 basis points (bps) on certain tenors at the same time The term deposits (below Rs 2 crore) with a 211-day to less than 1-year duration has been raised by 20 basis points to 4.60 percent, up from 4.40 percent previously.
    Similarly, interest rates on retail term deposits with a tenor of one year to less than two years have been raised by 20 basis points to 5.30 percent, while rates on retail term deposits with a tenor of two years to less than three years have been raised by 15 basis points to 5.35 percent


    .



    The lender has increased the interest rate on bulk deposits of Rs 2 crore and above by 50 basis points to 3.50 percent and 4%, respectively.

    in the 7-day to 45-day tenor and 46-day to 179-day tenor. Similarly, the interest rates on 180-210-day tenors, 211-day tenors, and 1 year to less than 2-year tenors have been raised by 75 basis points to 4.25 percent, 4.50 percent, and 4.75 percent, respectively The rise in deposit rates follows the Reserve Bank of India’s (RBI) Monetary Policy Committee’s rate action in June, when the benchmark policy rate was raised by 50 basis points to 4.90 percent. In an unexpected off-cycle meeting, the six-member rate-setting panel raised the repo rate by 40 basis points to 4.40 percent.




    The institution raised the interest rate on its bulk term deposits (Rs 2 crore and beyond) by 40–90 basis points in early May, shortly after the MPC raised the repo rate by 40 basis points While lenders have been fast to pass on the higher rate to borrowers since many of the loans are tied to an external benchmark, the transfer of the new rate to the liabilities has been delayed.

  • As the anchor investor lock-in period expires, the LIC falls 4%, or 28%, from its issue price

    As the anchor investor lock-in period expires, the LIC falls 4%, or 28%, from its issue price

    In intra-day trade on Monday, shares of Life Insurance Corporation of India (LIC) fell 4% to Rs 681.70 on the BSE, with the lock-in period for anchor investors expiring on Monday, June 13 The share price of the state-owned insurance behemoth has dropped by 28% from its IPO price of Rs 949 per share. Retail investors were given shares for Rs 905 each at the time of the IPO, while policyholders were given shares at Rs 889 each The stock was trading at its lowest level since its initial public offering on May 17, 2022. It fell for the tenth trading day in a row, down 19% since the beginning of the year. Since its IPO, LIC’s market capitalization has dropped by Rs 1.2 trillion. The stock was down 3% at Rs 688.20 at 09:44 a.m., vs a 2.7 percent drop in the.





    LIC raised Rs 5,627 crore from anchor investors, with domestic mutual funds accounting for 71% of the total.

    The state-owned insurance company distributed almost 59.3 million shares to 123 individuals for Rs 949 each Anchor investors are well-known institutional investors who are given shares in a company before it goes public (IPO). Anchor investors will be able to sell their current shares on the market after the lock-in period expires. Nearly 1% of LIC’s 3.5 percent free float is held by anchor investors LIC is India’s sole public sector life insurance business, with private life insurance firms as its main rivals.




    Analysts say that private sector insurance businesses have grown quicker and gained market share than LIC, with no guarantee that LIC would not lose market share in the future. Emkay Global Financial Services analysts commenced coverage on LIC with a ‘hold’ rating and a target price of Rs 875, which is up roughly 12% from current levels market leadership and comfortable valuations remain attractive to analysts, but they favor private-sector counterparts with greater growth and profitability prospects, resulting in higher.

  • In Early Trade He Rupee Fell To An All-Time Low 78.29 Versus The US Dollar

    In Early Trade He Rupee Fell To An All-Time Low 78.29 Versus The US Dollar

    In early trade on Monday, the rupee fell 36 paise to an all-time low of 78.29 versus the US dollar, reflecting the strength of the US currency outside as investors rushed to the safe-haven currency amid an overall risk-averse mood Investor morale was pulled down by weak Asian currencies, a trend in local stocks, and continued foreign capital outflows, according to forex dealers The rupee began at 78.20 versus the US dollar on before losing momentum to quote at 78.29, a new low, down 36 paise from the previous closing The rupee fell 19 paise to a new lifetime low of 77.93 versus the US dollar on Friday.






    Weak global sentiments, as well as weak Asian and European currencies, have caused the rupee to start below 78, despite the RBI’s efforts to keep it below 77.70.

    We’ll have to keep an eye on the RBI in the coming days to see how it acts Head of Treasury, Anil Kumar Bhansali, stated Brent crude futures declined 1.46 percent to USD 120.23 a barrel, the global benchmark In the meantime, the dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.30 percent at 104.45.

  • Rupee falls 8 paise versus the dollar, reaching a new low of 77.82.

    Rupee falls 8 paise versus the dollar, reaching a new low of 77.82.

    In early trading on Friday, the rupee fell 8 paise to a new low of 77.82 versus the US dollar, reflecting the greenback’s rise in the international market.

    At the interbank foreign exchange, the rupee began weakly versus the dollar at 77.81, before losing momentum to quote at 77.82, an all-time low, a drop of 8 paise from the previous close The rupee lost 6 paise versus the US dollar on Thursday, closing at 77.74 According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee began lower versus the dollar on Friday, mirroring the greenback’s overnight surge.

    Asian and developing market counterparts have had a mixed start, with Asian stock continuing to be under pressure, which might impact on sentiments, according to Iyer.

    Brent crude futures slid 0.66 percent to USD 122.26 a barrel, the global benchmark In the meantime, the dollar index, which measures the strength of the greenback against a basket of six currencies, was down 0.04 percent at 103.17 On the domestic stock market, the 30-share Sensex was down 620.68 points, or 1.12%, at 54,699.60, while the wider NSE Nifty was down 165.30 points, or 1%, at 16,312.80 According to stock exchange statistics, foreign institutional investors were net sellers in the capital market on Thursday, offloading shares worth Rs 1,512.64 crore.

  • In early trade, gold is up Rs 270, while silver is up Rs 62,200 per kilogramme

    In early trade, gold is up Rs 270, while silver is up Rs 62,200 per kilogramme

    On Friday, the price of gold rose by Rs 250 from the previous day’s closing to Rs 52,310 for a gramme of 24-carat gold. In the meantime.

    a gramme of 22-carat gold costs Rs 47,950. Although gold is utilised as an inflation hedge, rising interest rates raise the opportunity cost of owning the non-yielding asset Silver, however, began marginally higher on Friday, trading at Rs 62,200 per up to Rs 100 from the previous day. For the day, a gramme of 24-carat gold costs Rs 52,310 in Delhi, Mumbai, Bangalore, Hyderabad, and Kolkata. In Delhi, Mumbai, Bangalore, Hyderabad, and Kolkata, a gramme of 22-carat gold costs Rs 47,950.

    On Wednesday in Chennai, a gramme of 24-carat gold and a gramme of 22-carat gold were trading at Rs 52,430 and Rs 48,060, respectively.

    Silver, on the other hand, is selling for Rs 62,200 a k in Mumbai, Delhi, and Kolkata. The precious gold is selling for Rs 68,000 per in Chennai, Bangalore, Hyderabad, and Kerala According to a government source in May increased 677 per cent year on year to the highest level in a year, as price corrections right before a critical festival and wedding season encouraged retail Increased imports by the world’s second-largest bullion user might bolster benchmark prices, but they could also widen India’s trade imbalance and put pressure on the rupee Gold is set to decrease for the week as Treasury rates increase, with investors looking for clues on the future of monetary policy from important monthly US inflation data expected later in the day As of 0038 GMT, spot gold was down 0.1per cent at $1,846.22 per ounce, while U.S. gold futures were down 0.2 per cent at $1,849.10. Silver has down 0.1 per cent to $21.65 per ounce on the spot market.

  • The rupee falls to an all-time low of 77.74 per dollar

    The rupee falls to an all-time low of 77.74 per dollar

    The rupee fell to a new all-time low against the US dollar on Wednesday, ending at 77.74, slightly lower than its previous close of Despite continued foreign capital outflows and higher global crude oil prices, the local currency traded in a limited range The previous low was set on May 19, when it closed at 77.73 against the dollar, but it had hit 77.80 levels during intraday trade on May 17 USD-INR volatility may continue to be minimal. Anindya Banerjee, the vice-president, of currency options & interest rate derivatives, Kotak Securities, stated, “A range of 77.40 to 78.00 remains in play in the short term.





    Bond prices climbed following the Reserve Bank of India’s monetary policy committraiseding the policy repo rate by 50 basis points bps in line with market expectations.

    and keeping the status quo on banks cash reserve requirements. The three-year government bond rate fell 9 basis points, while the five-year bond yield fell 7 basis points. The four-year paper’s yield fell 8 basis points According to statistics from the the yield on 10-year government bonds (6.54 percent 2032) was 7.51 percent at the start and 7.49 percent at the close Given the high level of inflation, the market has priced in the magnitude of the repo rate rise. Bond rates are projected to fluctuate in a range for the time being, according to dealers and experts The RBI governor has previously stated that a rate hike was a ‘no brainer,’ according to Madan Sabnavis, chief economist of Bank of Baroda. “As a result, the 10-year yield was largely constant between 7.47 and 7.5 percent under the present regime.” In the short run, the yield on 10-year paper is projected to remain range-bound,” he added. As the RBI works toward a more controlled drawdown of liquidity, the yield might rise to 7.75-8%, he noted.

  • On Tuesday, the dollar struggled to find buyers as the market mood improved

    On Tuesday, the dollar struggled to find buyers as the market mood improved

    allowing the currency to remain reasonably resilient against its peers. Eurostat will publish the euro area’s first-quarter Gross Domestic Product (GDP) numbers. Later in the day, a 10-year US Treasury note auction will take place, and the US Census Bureau will release statistics on Wholesale Inventories. The trade action might continue muted ahead of the European Central Bank’s (ECB) policy announcements on Thursday and the US inflation data on Friday Despite the lack of high-impact data announcements, Wall Street’s major indexes rose sharply on Tuesday. US stock index futures, on the other hand, are down between 0.3 and 0.4 percent so far on Wednesday, indicating a cautious market sentiment. The US Dollar Index, which measures the value of the dollar against a basket of six major currencies, is up slightly at 102.50.






    The raised its key repo rate by 50 basis points to 4.9 percent on Wednesday, while keeping the reserve repo rate at 3.35 percent constant.

    After initially soaring to 77.95, the USD/INR has recovered to 77.70 China’s Vice Commerce Minister stated in a statement a day before the release of the country’s trade balance figures that importers and exporters are still under pressure owing to logistical issues and rising material prices. On Tuesday, the EUR/USD fell to a five-day low of 1.0652 before recovering its losses. In the European session, the pair is trading just below 1.0700.





    After dipping to a multi-week low below 1.2500 on Tuesday, the GBP/USD closed the day in positive territory, aided by risk flows. The pair has been maintaining its gains below 1.2600 at the time of writing.

    Above 133.00, the USD/JPY is at its highest level in 20 years. Japan’s GDP dropped by 0.5 percent on an annualised basis in the first quarter, according to official figures. On Wednesday, Bank of Japan Governor Haruhiko Kuroda stated that his comment on families’ acceptance of price rises had been withdrawn. “Rapid currency weakness in a short period of time, as observed recently, is undesirable,” Kuroda continued, although his words did not help the yen find buyers On Tuesday, gold took advantage of falling US T-bond rates to end a two-day losing skid. In the European session, XAU/USD appears to have stabilised at Bitcoin is continuing to fall after suffering minor daily losses on Tuesday, and was last noted around $30,500, down 2% on the day. Ethereum remains on the back foot, trading within a hair’s breadth of $1,800.

  • The stock prices of MRPL and Chennai Petroleum have risen by 19% as a result of positive business prospects

    The stock prices of MRPL and Chennai Petroleum have risen by 19% as a result of positive business prospects

    In an otherwise sluggish market, shares of Mangalore Refinery & Petrochemicals (MRPL) and Chennai Petroleum Corporation (CPCL) soared up to 19% and touched 52-week highs on Tuesday’s session on the BSE amid strong volumes The fact that the Singapore gross refining margin (GRM) has risen to a new high of $25.2 per barrel is good news for Indian refiners that transform crude oil into refined goods. Individual equities such as MRPL rose 19% to Rs 107.35, while CPCL rose 17% to Rs 374.80. The S&P BSE Sensex, on the other hand, was down 0.93 percent at 55,159 at 10:07 a.m. On good profits, CPCL has soared 234 percent and MRPL has soared 145 percent in the last three months, compared to a 4% rise in the benchmark index.





    When compared to the average trading volume over the previous 10 trading days, these counters’ trading volumes virtually tripled. On the NSE and BSE.

    a total of 24 million shares traded on the MRPL counter, while 8.02 million shares traded on the CPCL counter. With effect from today, the stock exchanges have increased the circuit limit on certain equities from. CPCL is a downstream petroleum company. It makes a variety of petroleum products with added value. MRPL is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), which owns 71.63 percent of the company’s ownership. CPCL recorded a four-fold increase in its consolidated net profit in the January-March quarter (Q4FY22), from Rs 242 crore in Q4FY21 to Rs 1,002 crore in Q4FY22. Year on year (YoY), revenue from operations increased by 43% to Rs 20,997 crore from Rs 14,705 crore in the preceding quarter.





    Higher crude output and greater gross refining margins helped MRPL achieve a standalone net profit of Rs 3,008 crore in Q4FY22, compared to Rs 268 crore in Q4FY21. MRPL adopted several steps to increase marketing margins in domestic, export and B2B (business to business) transactions. As a result, gross operating revenue increased 36% year on year to Rs 28,228 crore from Rs 20,793 crore in Transport fuel product cracks are now trading at multi-quarter highs. According to experts at ICICI Securities, GRMs are projected to gain from a refining landscape, and the MRPL is predicted to generate robust earnings in the short future Meanwhile, on the BSE, Oil and Natural Gas Corporation (ONGC) rose 6% to Rs 162.85. Oil India set a new 52-week high of Rs 288.95 in intraday trade Wednesday, up 4%, after soaring 15% in the previous two trading days.