The rupee recovered after a slow start, reaching an intraweek high of 81.08 on Friday before ending the week at 81.1250 against the dollar. The local currency rose to 80.88 on Monday before reversing drastically lower. It posted a daily loss of 0.32% and closed at 81.72 on Tuesday.Positive foreign flows were mostly responsible for…
India’s stock market is expected to surpass the US and Canada as the one with the fastest settlement times for equity deals. All blue-chip and large-cap stocks in India, which account for 80% of the market capitalization, will be settled on a T+1 (today plus one day) cycle starting on January 27. To put it…
Keeping up with the strong trend in the global markets, gold rates in the futures market may reach a new high of ₹68,350 per 10 grams. On Tuesday, when the U.S. dollar fell, gold for March delivery saw a high of ₹68,700 and a low of ₹68,210. The near-month price of the February gold contract…
Traders and industry executives said it will be difficult to restock the depleted government granaries given the record-high wheat prices, which are currently nearly 50% higher than the minimum support price (MSP) of Rs 2,125 per quintal for the current 2022–23 rabi selling season. After Baisakhi, the pace of harvesting the new wheat crop will…
On Monday, January 23, 2023, data available on NSE shows that foreign institutional investors (FII) sold shares worth a net Rs 219.87 crore and domestic institutional investors (DII) purchased shares worth a net Rs 434.96 crore. FII sold shares worth a net of Rs 20,099.98 crore for the month of January up through January 23,…
As the dollar dropped on Tuesday and investors awaited US economic data in the expectation that the Federal Reserve would raise interest rates more gradually, gold prices moved up on the world markets. The yellow metal continued to experience an upsurge in the session after the previous week’s close, finishing with 0.25 percent gains. Investors…
The actual acreage and production have decreased for all major crops, despite the government’s promotion of millets. When farmers receive guaranteed irrigation, experts claim that the only thing that will prevent them from switching to other crops is better returns. Ragi, bajra, and jowar’s total production have decreased by 7% to 15.6 million tonnes over…
On Monday, the Indian rupee began trading at 80.94 to the dollar, up 18 paise from the previous close of 81.12 to the dollar. For the first time since the start of 2022, the local unit is below the 81-point threshold. On the strength of increased risk appetite in the home market, a weaker dollar,…
This season (October 2022–September 2023), India’s production of chillies is anticipated to increase by 23%, and jeera (cumin) and pepper production are also anticipated to rise. According to reports presented at the International Spice Congress 2023 (ISC 2023), however, turmeric production will probably be lower due to waterlogging of the fields during the monsoon. Jeera…
In this month alone, foreign investors have made a net withdrawal of Rs. 15,236 crore due to the appeal of the Chinese markets and worries that the US economy may be ready to face a recession. However, over the past four trading sessions, foreign portfolio investors (FPIs) have switched from sellers to purchasers. Following a…
