Gold prices fall on higher US dollar index
A stronger US dollar, which touched its highest level since March 4 at 104.3, led gold prices to fall -0.57% to settle at ₹87,278, its lowest since March 4. Traders priced in a rate cut of about 63 basis points for 2024 after the Federal Reserve’s stance on deferring interest rate hikes due to economic…
Despite weak demand, India’s record rice output keeps prices steady
India recorded a record rice production in the 2024-25 crop year, with kharif rice output reaching 1,206.79 lakh tonnes and rabi rice at 157.58 lakh tonnes. This marks a sharp increase in kharif rice by 74.20 lakh tonnes compared to the previous year. The government procured 75.80 million tonnes of paddy, bolstering domestic stocks and…
March saw a Rs 35 lakh crore increase in market value. This list of top-performing industries follows a five-month break.
Investors on the Bombay Stock Exchange (BSE) have won Rs 35 lakh crore so far this year in March, with the Sensex rising more than 4,500 points to hover around 78,000. This is the latest success for the Indian stock markets after months of relentless selloff. After a sharp decline following September’s record highs, the…
The rupee is up 12 paise to 85.86 against the US dollar in early trading
The much-needed support was given by robust domestic inflows, which caused the rupee to climb 12 paise to 85.86 against the US dollar in early trading on Monday. But, according to currency dealers, the local unit still faces difficulties due to hidden risks, which might range from crude oil prices to supply shortages. The rupee…
Lower Arrivals Tighten Supply and Increase Buying Interest, Increasing Turmeric
Turmeric prices rose by 2.45% to ₹13,394, driven by lower-than-expected arrivals and strong buying interest. Export performance was positive, with shipments reaching a four-year high. From April to December 2024, turmeric exports rose 13%, reaching 1,36,921 tonnes. December saw a 46.94% YoY surge, reflecting global demand. However, new crop yields are projected to be 10-15%…
Natural gas prices fall on weather production
Record production levels and forecasts of mild weather that are expected to reduce heating demand in early April led natural gas prices to fall -0.29% to 344.2. Gas storage levels are still 8% below seasonal norms, including inventory drawdowns due to severe cold in January. According to LSEG figures, average gas production in the Lower…
Dollar inflows lift the rupee to its greatest week in over two years.
Stable oil prices, a decline in the dollar index, central bank liquidity support, and probable forex market interventions are just a few of the factors that have caused the Indian Rupee to rise more than 1% this week, continuing its winning streak into its eighth session and ending its best weekly performance in two years….
Hindalco plans to invest Rs 45,000 crore on segment expansion.
According to Kumar Mangalam Birla, chairman of the Aditya Birla Group, Hindalco plans to invest Rs 45,000 crore over the next three years in its copper, aluminum, and specialized alumina subsidiaries. The investment will be directed toward next-generation high-precision designed products and upstream operations. While speaking at the launch of its new corporate identity, Birla…
Aluminium prices eased as raw materials became more readily available
Aluminium prices fell -0.34% to ₹261.55, largely due to improved raw material availability. This helped ease supply shortages caused by disruptions in the previous year. China’s record production of 44 million tonnes in 2024 was curbed, with exports from China falling after tax incentives were removed, with more aluminium being sent to domestic markets and…
Imported steel will be subject to a 12% safeguard duty.
To shield the domestic industry from low-cost imports, the commerce ministry’s Directorate General of Trade Remedies (DGTR) has suggested imposing a 12% temporary safeguard levy on a few steel items. The Ministry of Finance will make a final decision. The DGTR stated in a notification that there are crucial situations in which any postponement of…
