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…
Shares of Nifty Realty continued their gains amid positive markets on Thursday. The index rose by 4% after hitting the Oberoi Realty record on Thursday. Phoenix Ltd was in top gear, with Prestige and Indiapools real estate gaining more than 5%. Suntech Realty was also positive. The declining cases and gradual restrictions in many cities…
British wholesale gas prices were mixed on Wednesday morning, rising earlier in the day on lower wind forecasts, but other contracts weakened as demand for warmer weather and falling carbon prices. 0834 GMT One day earlier the trade increased by 0.30 pence to 63.75 pence. The September contract was down 0.90 pence at 63.10 p…
Copper fell on Wednesday as investors took some money off the table amid concerns that top consumer demand for China would ease, while a solid dollar cut the metal’s appeal. Benchmark copper was down 0.4% at $ 10,207 per tonne on the London Metal Exchange, trading at a narrow range of 1050 GMT. “Investors are…
Oil prices rose for a third day on Thursday in anticipation of rising fuel demand by the end of this year, especially in the US and Europe, and China, while large manufacturers have been adhering to supply discipline. After reaching its highest level since September 2019, Brent crude futures rose 40 cents, or 0.6%, to…
The European Commission on Thursday raised its projected wheat production for the 27 EU member states to 126.2 million tonnes by 2021/22. This was 6.5% more than the 2020/21 crop of 117.2 million tonnes, as shown by the Commission’s monthly supply and demand data. The EU Commission on General Wheat or Soft Wheat Exports remained…
The Chicago-based research firm AgResource noted that the agricultural future of CBOT was flat as the agricultural market reacted to the rapid expansion of consumer demand. Fallen U.S. AgResource is positive for the agricultural futures amid dollar and strong consumer demand, suggesting that any early weekly correction offers a new buying opportunity. Spot CPOD corn…
