Due to strong auto sales data, stronger GST revenues, and FII purchases over the week, the Indian equity market resumed its winning streak for the second week. However, Friday’s sell-off wiped out part of the weekly gains. The BSE Sensex increased 524.04 points, or 0.66 percent, to settle at 79,223.11 this week, while the Nifty50…
Oil prices rose on Friday due to cold weather in Europe and the US and additional economic stimulus from China. Brent crude futures settled 0.8% higher at $76.51 a barrel, the highest level since October 14. U.S. West Texas Intermediate crude settled 1.13% higher at $73.96, the highest level since October 11. China’s economic fragility…
Zinc prices fell 1.23% to ₹276.15 on sluggish manufacturing activity. This is expected to weigh on global GDP and zinc demand, leading to trade disruptions. In December 2024, China’s domestic production of refined zinc increased by 20,000 metric tons (MT) or 5% MoM. However, the year-on-year decline in overall production was more than 6%. Unexpected…
A survey from “Great Place to Work” predicted that by 2028, the healthcare industry in India would have grown to $320 billion. By 2030, the biotechnology industry hopes to reach $300 billion, while the pharmaceutical industry anticipates reaching $130 billion. According to the research, strong worldwide expansion, heightened industry consolidation, and the influx of investments…
Jeera prices fell by 0.66% to ₹24,225 due to profit booking gains. Delays in sowing in Gujarat and Rajasthan, key producing states, have impacted production timelines. Gujarat reported jeera sowing in just 15% of the normal area, with a 20-25 day delay impacting production timelines. India’s cumin production reached 8.6 lakh tonnes in 2023-24, up…
A cold January weather forecast and strong demand for LNG exports helped natural gas prices rise 1.08% to ₹318.6. LNG exports hit 15.16 billion cubic feet per day (bcfd) on rising global demand, while production rose to 103.3 bcfd in December from 101.5 bcfd in November. According to LSEG, demand in the Lower 48 states…
With the December Purchasing Managers’ Index (PMI) falling to 56.4, India’s manufacturing activity ended the year at a 12-month low and had its weakest growth rate of 2024, according to statistics provided by S&P Global on Thursday. This suggested that the improvement in operating conditions was less pronounced. Although the headline number was lower than…
Jeera prices rose by 0.82% to ₹24,550 due to delayed sowing in Gujarat and Rajasthan, key producing states, due to higher temperatures and poor germination. Gujarat reported seeding on only 57,915 hectares, significantly lower than last year’s 2.44 lakh hectares and below the normal 3.81 lakh hectares. The delay is expected to impact production, with…
Aluminium prices fell 0.08% to ₹241.7 on global production data. According to the International Aluminium Institute (IAI), primary aluminium production rose 3% year-on-year to 6.04 million tonnes in November. China, the world’s largest aluminium producer, increased its production by 3.6% to 3.71 million metric tonnes. Similarly, the 3% increase from October and 3.6% increase in…
In early trading on Wednesday, the Indian rupee marginally declined in value relative to the US dollar, closing at 85.6725 against the US dollar, down from 85.6150 at the close of the previous session. A major factor in the depreciation is the demand for dollars, primarily from importers. The Indian rupee has been steadily declining…
