Due to a strong dollar and gloomy global market attitude, the rupee was trapped between 82.90 and 82.60 levels the previous week. The dollar strengthened as tensions over the debt ceiling negotiations increased and Fitch placed the nation’s credit rating under review for potential downgrading. Better-than-expected economic statistics from the US boosted the speculations that…
Due to strong export demand and predictions of fewer supplies at the end of the current marketing year, jeera rose 0.7% yesterday to conclude at 44015. Prices increased as crop worries grew as a result of Rajasthan, the state that produces the majority of the crops, experiencing unseasonal rains and hailstorms. This season, the market…
Gold yesterday decreased -0.18% to 59353 as the dollar index stayed close to two-month highs above 104, helped by rising predictions that US interest rates may stay high for longer than originally predicted. Market expectations were higher than the most recent PCE inflation data, which raised the possibility that the Federal Reserve would retain its…
In the next five years, Berger Paints India, the second-largest paints company in the nation, expects revenues to double to approximately ‘20,000 crores, driven by a general increase in its paints business. Additionally, the corporation has budgeted an investment of around 400 crore for FY24. The ornamental industry would experience growth because there is so…
As Punjabi farmers are expected to reduce the acreage during the kharif planting season, the area under cotton in North India is unlikely to increase from levels seen last year. Farmers in Rajasthan and Haryana, however, are likely to plant more land in the natural fiber crop as a result of early April’s unexpected rains….
On Friday, the rupee strengthened versus the US dollar by 14 paise to 82.58 (provisional), helped by foreign capital inflows and an uptick in domestic markets. However, the strong US dollar relative to important foreign currencies restrained the home currency’s upward trend, according to FX traders. Since US President Joe Biden and Republican House Speaker…
A stronger dollar and confusing messages from Saudi Arabia and Russia ahead of the next OPEC+ policy meeting contributed to the decline in oil prices in early trade on Friday. In the morning session, Brent crude prices were down 30 cents to $75.96 per barrel, while U.S. West Texas Intermediate prices were down 14 cents…
Just 4-5 weeks away, the HDFC-HDFC Bank Ltd merger will result in a lower net interest margin (NIM) for the institution this year, brokerages said on Thursday, the day after management met with analysts. According to a study by Nomura analysts, the bank forecasts NIM, a crucial profitability metric, to decline as a result of…
Cotton prices yesterday decreased by -0.59% to 57500 as farmers who had been hanging onto their crop in anticipation of a return to record-high prices from the previous year have begun to sell their harvest. From the historical average of 20,000 bales per day in May, the daily arrival of cotton in the markets has…
Due to improved planting conditions in UP and Bihar and sluggish export demand, menthol oil yesterday declined by 0.6% to settle at 961.6. Efforts to plant have benefited from the recent rainy season in Uttar Pradesh and Bihar. Mentha’s seeding activities would benefit from the predicted higher-than-average May rains. The price will be under pressure…
