Following the Reserve Bank of India’s (RBI) policy announcement, shares in rate-sensitive industries including banking, finance, auto, and real estate are seeing a stable day. The financial industry is where the most notable effects are observed. At 50,243.45, the Nifty Bank index was up. It gained 611 points in a single day. Over the past…
Thursday saw oil prices rise for the third consecutive day as government data revealed a sharp decline in US crude stockpiles, which helped the commodity recover from multi-month lows reached this week. While U.S. West Texas Intermediate crude gained 29 cents, or 0.4%, to $75.52, Brent crude futures increased by 23 cents, or 0.3%, to…
Gold prices edged higher on Thursday due to tensions in the Middle East and US price cuts. U.S. Gold futures were down 0.2 percent at $2,428.40, while spot gold was up 0.3 percent at $2,389.42 an ounce. Geopolitical unpredictability in the Middle East and falling US Treasury yields increase the attractiveness of gold. Analysts expect…
In July, foreign portfolio investors bought a net amount of Rs 32,365 crore, however, due to concerns about high valuations and the topline growth forecast, among other reasons, foreign investors sold in some sectors, such as IT, power, metals, and energy. According to NSDL data, in July, foreign institutional investors (FIIs) sold shares valued at…
China imported 9.97 million barrels of oil per day last month, a 12% decrease from June’s number and a 3% decrease from July 2023’s daily import average. The fall in July comes after an 11% yearly decline in June’s reported crude oil imports, albeit from a record high planned for June 2023. Data released in…
According to data from energy cargo surveillance company Vortexa, India’s petroleum product exports grew slightly by 1% to 4.9 million barrels per day in the first four months of the current fiscal year 2024–25 from 4.8 million barrels per day in the April–July period of 2023–24. However, compared to 1.22 million barrels per day in…
On Wednesday, gold prices were marginally lower as the US currency strengthened and Treasury yields rose. Spot gold: was down 0.2 percent at $2,385.23 an ounce. US gold futures: fell 0.3% to $2,425.50 an ounce. Gold prices rose due to gains in the dollar by investors holding foreign currencies. Higher Treasury yields reduce the appeal…
Gold prices fell more than 2 percent on Monday. Spot gold was down 2% at $2,393.66 an ounce. In contrast, US gold futures fell 1.4% to $2,434.10. Spot silver fell 5.7% to $26.92 an ounce, palladium fell 4.5 percent to $849.05, its lowest level since August 2018, and platinum fell 4.1 percent to $918.35. Other…
India’s cotton industry will undoubtedly be severely impacted by the political unrest in Bangladesh, even though it may not have a major impact on trade. Bangladesh is the recipient of $2.4 billion worth of Indian cotton exports. Bangladesh’s proportion of India’s total cotton exports increased from 16.8% in FY13 to 34.9% in FY24, based on…
Oil prices were close to eight-month lows on Monday as concerns about a potential recession in the United States, the world’s biggest oil user, outweighed concerns about the potential impact of escalating tensions in the Middle East on supply from the main producing region. Brent crude futures experienced a minor decline of 4 cents, or…
