Oil prices rose on Friday due to production disruptions
Oil prices rose on Friday due to production disruptions in the US Gulf of Mexico. Brent crude futures were up 32 cents, or 0.44%, at $72.29 a barrel. U.S. West Texas Intermediate crude futures were up 34 cents, or 0.49%, at $69.31 a barrel. While Brent crude fell below $70 a barrel on Tuesday for…
August CPI inflation ticks up to 3.65%; Core inflation stays unchanged, as food prices rise.
Due to a rise in grain prices and a little lower base than the one for July, India’s retail inflation, as measured by the Consumer Price Index (CPI), crept up to 3.65% in August from 3.6% in July. Retail inflation decreased to 6.83% in August 2023 from 7.44% in July 2023. Due to a large…
The increase in sowing of turmeric has led to losses
Turmeric prices fell by 2.96% to ₹13,626, driven by increased sowing and dry weather in Indonesia. However, tighter market supplies and stockist buying interest limited the downside. Farmers held back stocks in anticipation of price rises. Low export demand and rising sowing acreage could contribute to further price declines. Sowing reports show doubled turmeric sowing…
Rupee to trade between 83.60 and 84.10 in the short term.
A weak dollar index, falling crude oil prices, and robust foreign portfolio investment (FPI) inflows have not deterred the Indian rupee from trading close to its all-time low. As of September 10, it closed at 83.98, having moved in a narrow range between 83.92 and 83.99 thus far this month. The rupee has remained rangebound…
Gold prices rose amid speculation of further rate cuts
In Asian trade on Thursday, gold prices rose. Because investors expect the yellow metal to continue to profit from the low interest rate environment. However, interest rates were cut somewhat lower than expected due to the core consumer price inflation figures for August. Traders saw a 25 basis point drop in late September; This idea…
Prices for cotton increase as acreage decreases by 9%, raising supply issues
Cotton candy prices rose by 0.5% to ₹58,610 due to concerns over reduced acreage in the Kharif season, down by 9% to 110.49 lakh hectares compared to 121.24 hectares last year. Farmers are shifting to other crops due to lower cotton yields and high production costs. Increased cotton exports to Bangladesh have tightened the cotton…
Swiggy’s forthcoming IPO will see a $600 million fresh issuance; the total amount could reach $1.4 billion.
According to internal documents, Swiggy, the fast-food delivery and e-commerce company, is preparing to raise about $600 million through a new issuance as part of its first public offering (IPO). From the $450 million that was originally stated, this represents a huge increase. The entire possible financing might be close to $1.4 billion when added…
Oil prices rise due to tropical storm
Crude prices rose slightly on Wednesday as a tropical storm could damage France’s oil supplies.U.S. Oil futures were up 44 cents, or 0.7%, at $66.19 a barrel, while Brent crude futures were up 39 cents, or 0.6%, at $69.58 a barrel. While some production facilities had already been suspended, concerns about the storm’s risk of…
Copper Prices Drop in August After China’s Imports of Unwrought Copper Reach a 16-Month Low
Copper prices dropped by 0.75% to ₹784.95, primarily due to weaker demand from China, the world’s largest copper consumer. China’s unwrought copper imports fell to a 16-month low in August, with total imports down 12.3% year-on-year to 415,000 metric tons. This was largely due to reduced manufacturing activity and demand in key sectors like electric…
As India’s largest solar facility starts to produce, Tata Power shares jump by 6%.
Tuesday saw a nearly 6% increase in Tata Power Company’s stock, which by early afternoon on the NSE had reached Rs 445. The increase comes as it was revealed that Tata Power subsidiary TP Solar has started producing solar cells for sale at its recently opened facility in Tirunelveli, Tamil Nadu. The 4.3 GW plant,…
