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Category: Financial Market

  • The price of 10 grams of gold is Rs 52,250, while the price of a kilogram of silver is Rs 62,000

    The price of 10 grams of gold is Rs 52,250, while the price of a kilogram of silver is Rs 62,000

    On Thursday, the price of 10 grammes of 24-carat gold increased by Rs 160 to Rs 52,250, while the price of one 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 of 24-carat gold in Delhi and Mumbai is the same as it is in Bangalore, Hyderabad, and Kolkata, with the precious metal retailing for Rs 52,250 in these cities In Delhi and Mumbai, the price of 10 grammes of 22-carat gold is comparable to the price of 10 grammes of 22-carat gold in Bangalore, Hyderabad, and Kolkata, with the metal selling for Rs 47,900 in these cities. However, 10 kilos of 24-carat gold costs Rs 52,770 in Chennai and 10 grammes of 22-carat gold costs Rs 48,370 in the city.




    In Delhi, Mumbai, and Kolkata, one kilogramme of silver costs Rs 62,000, while the metal costs Rs 66,500 in Chennai, Bengaluru, and Hyderabad.

  • The rupee begins the day with a gain against the US Dollar

    The rupee begins the day with a gain against the US Dollar

    In early trade on Thursday, the rupee was trading higher versus the US dollar. However, due to a stronger dollar in outside markets, the immediate gain was limited On the interbank forex market on Thursday, the rupee rose 3 paise to 77.52 against thedollar Meanwhile, in early morning activity on Thursday, stock markets opened in the green. The Sensex rose 0.35 percent, or 190.36 points, to 53,939.62 points, while up 0.21 percent, or 33.90 points, to 16,059.70 points.





    In limited activity on Wednesday, the rupee rebounded 2 paise to close at 77.55 against the US dollar The US dollar recovered from two days of losses ahead of the release of the US Federal Reserve’s meeting minutes later this month. Against a basket of six major currencies, the US dollar index rose 0.4 percent to 102.25 The rupee opened higher versus the dollar in the interbank forex market, at 77.54, and traded in a range of 77.44 to 77.57 in the day session. The rupee finally closed at 77.55 against the dollar, up 2 paise from its previous finish of 77.57.

  • 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.

  • 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.

  • Indices fall for the fourth day in a row as global equities markets tumble and FPIs retreat

    Sensex and Nifty indices

    The benchmark Sensex and Nifty indices dropped for the fourth day in a row on Wednesday, extending their month-to-date decline to over 5 per cent amid a global equity rout and sustained pull-back by foreign portfolio investors (FPIs).

    The US Federal Reserve’s (Fed’s) decision to aggressively hike interest rates and reduce balance sheets to catch up with inflationary pressures has wreaked havoc across risky assets in recent weeks. Add to that, global growth concerns due to China’s Covid-management approach and jump in commodity prices attributable to the disruption in supply chains caused by the Russia-Ukraine conflict.
    On Wednesday, the Sensex closed at 54,088 points, down 276 points or 0.51 percent.

    The Nifty ended the day at 16,167, down 73 points or 0.45%. Both indicators closed at their lowest levels since March 8. Both indices are down roughly 12% since the year’s top in January.

    Other worldwide markets have fallen even faster. The MSCI Emerging Markets (EMs) Index, for example, is down 28% from its peak in February last year, while MSCI China has more than halved.

    India is one of the most expensive emerging markets. In addition, due to its large reliance on imports, India has the weakest profit revision. Due to margin pressure caused by rising prices, several leading Indian corporations failed to reach consensus earnings projections in the March quarter.

    According to Bloomberg, 11 of the 28 Nifty50 companies that have released earnings thus far have missed projections, while 17 have at least met them. Cipla and Asian Paints were the most recent companies to declare profits that fell short of expectations.

    On Wednesday, only nine Sensex components rose, while 22 fell. Larsen & Toubro, Bajaj Finserv, and Bajaj Finance all lost more than 2% of their value. Axis Bank and IndusInd Bank both gained 1.9 percent and 1.4 percent.

  • Investors are panicking as Bitcoin falls below the $30,000 level

    Cryptocurrency, Bitcoin, Market, News,

    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 last year.

    Cardano (20%), Solana (16%), XRP (13%), BNB (16%), and Ethereum (16%) were among the digital assets that experienced double-digit percentage declines (10 per cent),

    According to experts, the combination of rising interest rates and declining economic activity has created a risk-off atmosphere.

    Terraform Labs (TFL), the company behind UST, LUNA, and the Luna Foundation Guard (LFG), has depleted its treasury wallet of all of its bitcoin (about 42,530 bitcoin) worth $1.3 billion.

    According to TechCrunch, the UST stablecoin lost its 1:1 dollar peg for the second time in three days on Monday, falling as much as 5.3 percent to 95 cents.

    The drop is due to concerns about the US Federal Reserve’s willingness to combat inflation. The Federal Reserve raised interest rates by 50 basis points last week.

    The GST council in India is considering a 28 percent tax on cryptocurrencies, similar to the present GST on casinos, betting, and lottery, which might further damper the attitude of crypto investors in the country.

    Bitcoin is worth approximately $650 billion and accounts for almost a third of the cryptocurrency market.