On Thursday, as crude oil prices fell from high levels, the rupee strengthened 11 paise to settle at 82.14 (provisional). Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit gained 11 paise from its previous close to close at the interbank foreign exchange market,…
Due to the local market’s ample supplies and the muted demand, turmeric prices yesterday declined by -0.06% to 6696. Due to increasing deliveries in important trading centers, Millers’ stockists are in a wait-and-watch mode. Arrivals of the fresh crop have increased; as of now, 7-8 lakh bags have entered the Nizamabad market, compared to 7…
As investors considered the likely course of interest rates, zinc yesterday decreased by -0.87% to 246.15. Although a cut is now mostly anticipated by year’s end, markets are still pricing in a 25 bps increase in the fed funds rate for next month. Williams, the president of the New York Fed, recently stated that the…
With effect from this Wednesday, the government has reinstated the windfall tax on domestically produced crude oil with an impost of Rs 6,400 per tonne and eliminated the tax on diesel exports. Petrol and aviation turbine fuel intended for exports are still free from tax. In its most recent fortnightly review, the Central Board of…
As crop worries rise as a result of unseasonal rains and hailstorms in Rajasthan, the state that produces the majority of jeera, the price of the spice yesterday increased by 0.3% to 40500. Demand from domestic and international purchasers has increased as a result of the market’s expectation of a lower yield and quality of…
The price of silver rose yesterday by 0.3% to settle at 75472, as the demand for silver climbed by 18% last year to a record high of 1.24 billion ounces, creating a huge supply gap and raising concerns about more shortages in the years to come. The institute’s most recent World Silver Survey indicates that…
On Wednesday, the Indian rupee hit a more-than-two-week low versus the dollar as the dollar mounted a comeback due to stronger U.S. Treasury yields. The rupee reached its lowest level since April 3 at 82.2250 to the dollar at the close. The previous close for the currency was 82.04. Technically, 82.20 is a crucial level,…
Private equity investment in India’s real estate sector fell precipitously during the first quarter of 2023, with only $0.05 billion (or 370 crores) spent, a startling 95% decrease from the $1 billion invested during the same time in 2022. Due to growing concerns about a global recession, rising capital costs, and a mismatch in investors’…
The windfall tax on all domestically produced crude oil was increased by the centre from zero to Rs 6,400 per tonne. Additionally, the government eliminated the SAED, which had been charged at a rate of 0.5 rupees per litre. For the continued export of petrol and ATF (aviation turbine fuel), windfall tax exemptions are granted….
Due to increased demand and decreased crop output in the current season, cotton prices are predicted to reach 75,000 per candy by the middle of this year. India will soon cease being a net exporter of cotton due to its high consumption, according to Atul Ganatra, president of the Cotton Association of India. With fewer…
