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…
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…
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…
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…
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 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…
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,…
Oil prices fell slightly on Tuesday on factors including weaker Chinese demand. Brent crude was down 4 cents, or 0.06%, at $72.80 a barrel. At $68.60 a barrel, the U.S. West Texas Intermediate crude futures lost 10 paise, or 0.15%. The NHC noted that analysts “risk at least 125,000 barrels per day (bpd) of oil…
Gold prices fell slightly in Asian trade on Tuesday, but remained close to recent peaks as traders awaited key U.S. inflation data for more cues on the Federal Reserve’s plans to begin cutting interest rates. Spot gold came within spitting distance of a record high on Friday, but then pulled back as the dollar advanced…
Due to strong domestic valuations and volatility in the global market, foreign institutional investors (FIIs) engaged in a wave of significant selling during the first two weeks of August. However, later in the month, they turned their attention to purchasing, allocating Rs 25,000 crore across eight important sectors. With purchases of Rs 5,297 crore, consumer…
