As part of the government’s efforts to control wheat and atta prices, state-owned FCI intends to sell 10.13 lakh tonnes of wheat to large users in the sixth round of an online auction on Wednesday. In order to keep prices under control, the Center has announced the sale of 50 lakh tonnes of wheat in…
According to data provided by the Commerce Ministry on Tuesday, India’s wholesale inflation, which is based on the all-India Wholesale Price Index (WPI), decreased to 3.85 % in February from 4.73 % in January. This is less than the 4% prediction made by Reuters. The data made public indicate that the decrease in the rate…
The biggest US bank failure since 2008 continued to reverberate through financial markets as oil prices extended losses ahead of important inflation data. After a turbulent session on Monday and a 2.5% decline in the closing price, West Texas Intermediate fell under $75 a barrel. Investors will be watching the consumer price index reading, which…
Domestic indices lost some of their early gains on Monday and lost more than 1% over the day. The Nifty 50 lost 277 points from its intraday high of 17,529.90 to trade at 17,252.25 while the BSE Sensex dropped 1000 points from its high of 59,510.92 to trade at 58,474.02. Continuing the downward trend, Bank…
Despite conflicting global cues, the gold rate is up today while the silver rate is up 1.21%. Gold April futures were up Rs 465 or 0.83% on the Multi Commodities Exchange, trading at Rs 56,615 per 10 kilos. On the MCX, silver May futures were trading at Rs 63,650 per kilogram, up Rs 760. After…
Although a recovery in Chinese demand and a weaker dollar offered some support, oil prices fell in Monday’s Asian morning session as worries about potential future interest rate hikes in the United States continued to worry investors. The price of Brent crude futures had dropped 15 cents, or 0.18%, to $82.63 per barrel. West Texas…
Due to anticipated price growth for the metal, which had been stagnant for the first nine months of the year, steel manufacturers’ margins would improve in the fourth quarter. An added benefit would be the openness of China. In Q4, an increase of 7-8% in steel demand is predicted. “Steel prices increased from $600 per…
The rabi crops in Himachal Pradesh have suffered severe damage as a result of the protracted dry weather, with the Hamirpur district of the hill state suffering the largest loss of Rs 2,857.78 lakh, according to officials on Thursday. Out of 4,01,853 hectares, crops on 85,538.20 hectares of land have been destroyed by insufficient/inadequate rains,…
The dollar weakened on Friday as data revealed that weekly U.S. unemployment claims increased more than anticipated, raising hopes that a deteriorating labour market could lead to less-aggressive rate hikes from the Federal Reserve. Following a session-high increase of more than 1%, spot gold was up 0.1 percent at $1,832.59 per ounce. US gold futures…
According to market players who spoke with the central bank last week, India’s federal government should limit borrowing in the first half of the upcoming fiscal year to 55% of the objective and increase the proportion of longer-tenor bonds. The Reserve Bank of India, which represents as the government’s debt arranger, met with a select…
