For the week, the Nifty fallen 691.25 points (4.04 percent) to closed at 16,411.3, while Bank Nifty fallen 1495 points (4.14 percent) closed at 34591. the BSE Sensex down 2,225.29 points (3.89 percent) to closed at 54,835.58. Indian market decreased 4 percent in the week ended May 6 after a surprise rate hike by the…
The rupee was down on Friday by the U.S dollar earning strength globally and the sustained greenback purchases by foreign investors, who continued to sell the shares in the Indian equity market in the wake of the U.S. Fed rate hike. The Indian unit decreased about 66 paise to close at 76.9150 per dollar against…
Tata Motors, India’s biggest commercial vehicle manufacturer, on Thursday launched a battery electric version of its popular mini truck Ace which it plan to launch commercially next quarter. The launch would mark Tata Motor’s charge into the electric cargo segment of commercial vehicles. The company also signed an MoU with various e-commerce and logistics companies…
Across the country the sugar mills have produced 342.37 lakh tonnes (lt) of sugar between October 1, 2021, and April 30, 2022. This is about 42 lt or 14% higher than 300.29 lt produced during the same period past season. The Indian Sugar Mills Association (ISMA) has estimated that during the this season, the industry…
Gold prices down on Friday in global markets and looked set to fall for a third straight week, weighed down by a robust dollar and rising yields, while investors await the U.S. jobs report to evaluate its impact on monetary policy. Spot gold fell 0.4% to $1,869.26 per ounce, while U.S. gold futures down by…
Burning heat wave conditions in many North Indian consuming markets has taken a charge on pepper demand with its prices remaining steady for the past 23 weeks with marginal changes. Prices of clean varieties are now ruling at ₹515-520 per kg, while that of distorted varieties at ₹535-540. Traders pointed out that the demand was…
The Monetary Policy Committee (MPC) on Wednesday collectively voted to increase the policy repo rate by 40 basis points from 4% to 4.40% with an immediate effect, in a clear indication that inflation may be curving to higher levels than expected. The move came a few hours ahead of the Federal Reserve’s rate decision on…
Crude oil down by more than one per cent on Tuesday as concerns about demand due to China’s extended Covid lockdowns outweighed support from a possible European oil bans on Russia over its actions in Ukraine. Beijing, reporting dozens of new cases daily, is mass testing citizens to prevent a lockdown similar to Shanghai’s over…
The rupee gained 8 paise to 76.40 against the U.S. dollar in early trade on Wednesday in expectation of foreign fund inflows through LIC IPO. At the interbank foreign exchange, the rupee opened at 76.46 against the U.S. dollar, then gained further ground to price at 76.40, registering a rise of 8 paise from the…
The two-wheeler industry is noticing a turnaround in sales after months of poor performance unsettled to multiple factors, including limited demand from rural areas. A major reason of the better numbers is the low base as markets started reopening after the pandemic subsided, said Industry Analysts. Two-wheeler market leader Hero Moto Corp witnessed growth in…
