Concerns over the weakening global recovery for crude and fuels extended oil prices’ losses on Tuesday on data that showed a drop in China’s oil imports in May. Overnight, Brent crude was down 49 cents, or 0.7%, to $ 71.00 a barrel at 0643 GMT. U.S. Oil was down 44 cents, or 0.6%, at $…
Copper prices fell on Monday as investors feared weaker-than-expected trade data from top consumer China. China’s copper imports fell 8% in May over the previous month as higher prices further dampened buying interest, beating overall export growth analysts’ expectations. “When we receive data like this from China, it shows the risk that their rapid growth…
Brent topped $ 72 a barrel for the first time since 2019 as it faced concerns about an overall COVID-19 vaccine release worldwide, such as OPEC + supply discipline and recovery in demand. The Organization of the Petroleum Exporting Countries and its allies said they would abide by the supply restrictions agreed on Tuesday. A…
Despite the relentless noise in the markets about price pressures, the gold bullion can be heard as the yellow metal could not accumulate above $1,900 for the second straight week on Friday. A mixed U.S. Jobs’ image helped transcend the other standard of gold – a haven – to crawl near the $1,800 levels that…
Markets saw a cheap trading day and long positions with key indices were unknown. Bank Nifty cut Nifty by 1% and both indices declined. Financial stocks such as HDFC Bank, SBI, and ICICI Bank were among the best performers. The Nifty Midcap 100 index closed higher by 0.75%. The market width ended in favor of…
Gold fell in Asia on Friday morning, hitting a two-week low and recording its worst week in three months. Positive U.S. Employment data boosted dollar and bond yields, and investors were concerned about the reversal of stimulus measures. Gold futures are down 0.07% at $ 1,871.90 below $ 1,900. The dollar, which normally moves against…
However, markets extended their losses at a slower pace after the RBI left the policy repo rate unchanged for the sixth time in a row. Bank stocks appeared to be the best bears of the day and weighed in on the FMCG Index heavyweights. The Nifty 50 dropped its record high profit. At 12.35 pm,…
The West Texas Intermediate gained another 1% on Wednesday, hovering above $ 68 a barrel after OPEC + doubled its decision to ease supply restrictions by July, on-demand. As WTI crude traded at its highest level since October 2018, energy stocks rallied with it. XLE Energy ETF added nearly 2%, pushing its two-day rally closer…
Copper prices fell for a third day on Thursday as investors rallied in the U.S. on Friday. Waiting for work data will provide clues as to when monetary policy will tighten. Expectations of higher interest rates could hit growth-related assets such as metals and stocks. World stocks were at an all-time high and the dollar…
Bank stocks are more focused than the Reserve Bank’s monetary policy. Moreover, a slight surge in credit growth, along with market experts, has given the bull markets a boost in banking and financial stocks – which has increased investor appetite for these stocks. The ‘situation’ with the ‘accommodation position’ at the Reserve Bank is expected…
