Following a recovery in the dollar and weaker Chinese currencies, the Indian rupee concluded the prior week on a negative note. The local unit dropped for the second consecutive week to close at 82.77, the lowest level since February 2023. The rupee fell after reaching 82.50, despite significant inflows of foreign capital. Foreign institutions have…
Early Friday morning Asian trading saw a minor decline in oil prices as hopes that a U.S. debt default will be avoided were weighed against persistent inflation statistics that might signal future interest rate increases from central banks around the world. Brent futures were down 2 cents at $75.84 per barrel on today morning. West…
In April 2023, India’s coal output increased by 8.85% to 73.14 million tonnes (MT), and the total amount of coal shipped during the month increased by 11.66% to 80.35 MT compared to the same period last year. According to the coal ministry, there were 71.96 MT of coal available in April 2022, while production was…
The largest stainless steel producer in the nation, Jindal Stainless (JSL), has set aside Rs 2,500 crore in capital for FY24, which will be mostly utilized to complete its recent acquisitions. In addition, the business wants to rank among the top three stainless steel producers outside of China. JSL made plans to invest $157 million…
The dollar gained on Wednesday as traders reduced their bets on the Federal Reserve cutting interest rates soon in the wake of strong U.S. consumer spending statistics and as a result of the safe-haven status of the dollar under the threat of a U.S. government default. Although nothing is finalized yet, negotiations between Republican senior…
After weaker-than-expected economic data from the United States and China, the two biggest oil consumers in the world, the price of oil plummeted for a second day on Wednesday. This came after a surprising increase in U.S. crude stocks raised demand fears. Brent crude futures decreased by 29 cents, or 0.4%, to $74.60 a barrel….
On Tuesday, the prices for gold and silver both decreased. The price of June delivery gold futures on the multi-commodity exchange was Rs 60,903, down 124 points, and the price of July delivery silver futures was Rs 73,116, down 286 points. While the US debt-ceiling issue and fear of a default restrained additional losses in…
In response to a recovery in the value of the dollar relative to other major currencies, the Indian rupee had its largest weekly loss in two months. As Treasury yields increased amid an increase in expectations that the Federal Reserve will intensify its fight against inflation, a measure of the dollar experienced its best weekly…
In an effort to increase derivative trading at the country’s leading market, BSE on Monday relaunched the Sensex and Bankex derivative contracts. According to BSE, the relaunch of derivative products includes a smaller lot size for futures and options, as well as an earlier Friday expiry cycle. Derivatives are regarded as high-risk, high-reward financial tools…
The Indian equities markets achieved large gains and closed over 1% higher during a week of persistent volatility, buoyed by in-line profits, FII support, and a disregard for warning signs from international competitors. The Nifty50 increased 245.8 points or 1.36 percent to close at 18,314.8, and the BSE Sensex increased 973.61 points or 1.59 percent…
