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  • 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.

  • 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 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.

  • Dollar continues 20-year high vs yen amid inflation fears; Aussie falls

    Dollar continues 20-year high vs yen amid inflation fears; Aussie falls

    The dollar extended its overnight run into Asian trading hours on Tuesday, reaching new two-decade highs against the yen as concerns over continuing inflation drove up US bond rates The dollar gained ground against the euro, pound, and Swiss franc. It also rose against the Australian dollar, with the market divided on whether the country’s central bank will raise Australia’s key interest rate by a quarter-point later in the day or opt for something bigger The Australian dollar fell 0.15 percent to $0.7183, continuing its decline from a six-week high of $0.72825 reached last Frida.





    The dollar rose to 132.305 yen on Tuesday, a level not seen since April 2002, boosted by a surge in the 10-year Treasury yield above 3.05 percent for the first time in almost four weeks. The currency pair was last trading at 132.12, up 0.17 percent.

    In contrast, the curve management strategy has kept corresponding Japanese rates close to zero, with central bank governor Haruhiko Kuroda maintaining an unflinching commitment to “strong” monetary stimulus on Monday The Commonwealth Bank of Australia attributes the yen’s weakness to not just yield differentials but also Japan’s reliance on energy imports, though it does not predict much further weakening Strong US job statistics at the end of last week fueled speculations that price pressures will persist for a longer period, perhaps prompting the Federal Reserve to take more aggressive action Consumer pricing data on Friday will give more insight into the Fed’s rate-hiking strategy ahead of next week’s policy meeting when a half-point hike is generally predicted. The dollar index, which compares the currency to six major peers, rose 0.04 percent to 102.51, extending Monday’s 0.26 percent raise The euro fell 0.9% to $1.0686 ahead of the European Central Bank‘s rate-setting meeting on Thursday, with traders demanding more clarity on what comes next, having already priced in many rises and the end of bond-buying stimulus Sterling fell 0.04 percent to $1.2523. It gained 0.29 percent in the previous session as Prime Minister Boris Johnson survived a no-confidence vote but was left vulnerable. The US dollar increased by 0.11 percent to 0.97125 Swiss francs

  • Ahead of the RBI policy announcement, India’s 10-year bond rate reaches 7.5 percent, the highest level since 2019

    Ahead of the RBI policy announcement, India’s 10-year bond rate reaches 7.5 percent, the highest level since 2019

    In early trade on Monday, India’s benchmark 10-year bond yield hit its highest level since March 2019 as investors braced for a 50-basis-point rate hike later this week while rising global crude oil prices weighed on the mood.







    The 10-year bond yield in India was trading at 7.4965 percent, up 4 basis points from the previous close. The yield climbed to 7.5004 percent, its highest level since March 22, 201 The will focus on interest rate rises in the coming months in a relatively short tightening cycle, with the repo rate expected to hit its terminal level early next year Oil prices jumped more than $2 in early trading on Monday as Saudi Arabia boosted pricing for its oil sales in July, indicating how tight supply remains despite OPEC+ agreeing to increase output over the next two months.

  • 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.