The RBI’s policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently. However, the move lacks determination amid remaining challenges like…
Indian rupee gains 4 paise to 77.62 against the U.S. dollar in opening trade on Monday, supported by a weak American currency in the overseas markets. However, muted domestic equities, uplifted crude oil prices and persistent foreign fund outflows controlled the rupee’s rise, foreign exchange traders said. At the inter-bank foreign exchange, the rupee opened…
Central government may announce increases in minimum support prices (MSP) for the summer crops in 2022-23 year soon, taking into consideration a sharp rise in costs of farming inputs. The MSP increases this year could roughly be in the range of 5-20%, the highest since 2018-19 when a new policy of 50% profits over computed…
The market stretched gains for the third week ended June 3 after the corporate earnings season, supported by positive global cues and good updates on monsoon progress. In the coming week, the market is expected to continue its uptrend amid volatility and monetary policy meeting but anything negative on the global front could spoil the…
Zinc – the fourth most consumed metal worldwide after iron, aluminium and copper is witnessing an uptrend with a four per cent week-on-week increase in global prices. There has been a similar hike in India, too. Zinc cash prices in the LME was at $3,896 per tonne up 4% and the three month contract price…
The Organization of the Petroleum Exporting Countries (OPEC) and association including Russia, known as OPEC+, agreed to increase output by 648,000 barrels per day (bpd) in July and 648,000 bpd in August. Ahead of the meeting, sources told Reuters that Saudi Arabia and other OPEC members could increase oil output to offset a drop in…
UltraTech Cement, an Aditya Birla Group company, plans to invest ₹12,886 crore to add capacity of 22.6 million tonnes per year with a mix of brown-field and green-field expansion across the country. The fresh capacity addition comes at a most competitive cost of $76 per tonne. Over completion of the latest round of expansion, the…
The rupee declined 12 paise to 77.62 against the U.S. dollar in trade on Thursday, tracking the strength of the American currency in the global market. At the inter-bank foreign exchange, the rupee opened at 77.61 against the U.S. dollar, then lost ground to priced at 77.62, registering a fall of 12 paise from the…
The government’s wheat procurement in the current year down by more than 54% on year to 18.65 million tonne (mt) till Tuesday. With an arrival of only around 81,000 tonne of wheat on Tuesday in mandies mostly in Uttar Pradesh and Madhya Pradesh, purchase of the grain by the Food Corporation of India (FCI) and…
Steel prices have decreased to ₹64,000-65,000 a tonne from ₹71,000 last month on expectation of a supply surplus on levy of 15% export duty. Prices were flying at ₹76,000 a tonne in April. Interestingly, the excess supply comes amid forecast of weak demand with onset of south-west monsoon slowing down infrastructure activities from this month….
