Following three straight weeks of gains, the markets had a severe decline, losing 4.5%, mostly due to unfavorable global cues. Beginning with growing tensions in the Middle East, which increased the price of crude oil due to concerns about supply disruptions, the mood was pessimistic. Further lowering market optimism was the ongoing FII selling, which…
Natural gas prices dropped by 3.57% to ₹240.3, despite a smaller-than-expected storage injection by US utilities. Concerns over potential disruptions in US natural gas production eased as tropical storms moved away from the Gulf of Mexico. Baker Hughes reported a 3 to 102 increase in rig drilling activity. Storage injections have been at record lows,…
Gold prices ended the day down -0.13% at ₹76,143 as the US dollar strengthened and market expectations for the Federal Reserve to slash rates aggressively were tempered by a better-than-expected US jobs report. In September, the US labor market shown resiliency as job growth picked up speed and the jobless rate dropped to 4.1%. As…
Soyabean, groundnut, and sunflower prices have fallen 8-25% below the Minimum Support Price (MSP) in agri-terminal markets during the early days of the harvesting season. Farmers face significant losses due to delayed MSP-based procurement, with soybean prices averaging ₹4,268 per quintal, 12.8% lower than the MSP. Large crop expectations and export uncertainties, particularly in Iran,…
Oil prices rose on Friday on concerns that Middle East conflict could disrupt supplies of this key export, Crude. U.S. crude futures rose 0.8% to $78.24 a barrel, while the Brent contract rose 0.8% to $74.35. Brent crude futures are set to gain around 8% for the week – their steepest since February 2023, while…
The rupee held below the $84 level on Friday, following a two-month low on Thursday, as the Reserve Bank of India (RBI) increased its intervention in the foreign exchange market to halt the depreciation. After closing nearly unchanged against the dollar on Thursday at 83.9750, the rupee fell to 83.9688 on Friday. Market players think…
At an Extraordinary General Meeting (EGM) on October 3, the leading food technology company Swiggy got approval from its shareholders to boost the primary issue size of its Initial Public Offering (IPO) from Rs 3,750 crore to Rs 5,000 crore. If additional cash is needed, the corporation has set aside an additional Rs 1,250 crore…
Oil prices rose in early Asian trading hours on Friday, holding on to their strong weekly gains as investors weighed Middle East conflicts and potential disruptions against the broader global market for crude oil. Brent crude futures were up 9 cents, or 0.12%, at $77.71 a barrel, U.S. West Texas Intermediate crude futures were up…
Cotton candy prices fell by 0.43% to 57,460 due to moderate demand and weak export activity, particularly in Bangladesh. However, the downside was limited due to hopes of demand recovery from China and concerns about crop damage from Hurricane Helene. The USDA revised India’s cotton production forecast for the 2024-25 season to 30.72 million bales,…
Guar gum prices rose 11.50% in September 2024, reaching ₹11,800 per quintal, driven by the US oil industry’s surge in fracking activities. The increase is primarily due to favorable global oil prices and increasing rig counts. The US oil production has also increased by 6.5% this year, boosting demand for guar gum in hydraulic fracturing….
