Crude prices were down 0.65% to settle at 5,839, as concerns over future demand and fears of supply disruptions weighed on the market. Both the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) have cut their forecasts for global crude demand in 2024 and 2025. Weak economic data from China,…
The Indian government has raised minimum support prices (MSP) for seven rabi crops for the 2025-26 marketing season, with mustard and rapeseed being the most affected. The increase is expected to ensure remunerative prices for farmers and encourage crop diversification. Wheat’s MSP has been raised by Rs 150 per quintal. To reduce import dependence on…
Gold prices hit record highs on Friday, helped by an interest rate cut by the European Central Bank just weeks before the US presidential election. Spot gold rose 0.8% to $2,713.18 an ounce, while gold futures for December expiration rose 0.8% to $2,728.30 an ounce, both hitting record levels on Friday. Silver prices broke out…
JSW Renew Energy Limited and JSW Renew Energy Thirty Limited, the company’s step-down subsidiaries, signed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) on Friday for STU-connected Solar-Wind Hybrid Capacity, JSW Energy Limited announced. Two hybrid projects totaling 1,200 MW in capacity have PPAs signed by the company. Each project has…
Jeera prices dropped by 0.36% to 24,935 due to increased supply and pressure from ongoing arrivals. 30% of cumin stocks are held by farmers, with daily arrivals in Unjha ranging from 12,000 to 17,000 bags. Despite the pressure, the export market remains active, with prices quoted between $3,150 and $3,200 per tonne. Demand is particularly…
Benchmark indices extended their downward trajectory on Thursday, closing at their lowest points in almost two months due to disappointing earnings and ongoing selling by foreign portfolio investors (FPIs), which dampened investor sentiment. After posting dismal profits for the September quarter, Bajaj Auto saw a 13% decline, making it the biggest loss on the Nifty….
Natural gas prices fell 1.4% yesterday to settle at 197.6, as forecasts of milder weather over the next two weeks indicated less than normal heating demand. Meteorologists predict warmer-than-normal temperatures in the Lower 48 U.S. states through Nov. 1, which will reduce natural gas consumption. As a result, LSEG forecasts that average gas demand, including…
India’s merchandise exports increased somewhat year over year to $34.58 billion in September, albeit from a low base (-2.8%). However, with import growth also being moderate at 1.6%, the trade imbalance shrank to $20.78 billion, its lowest level in five months. With exports falling sharply by 9.3% year over year in August, the trade imbalance…
Mukesh Ambani’s Reliance Industries Limited (RIL) shares increased 1.1% to Rs 2,738.70 during intraday trading on Thursday after it was announced that October 28, 2024, would be the record date for identifying shareholders who qualify to get 1:1 bonus shares. Late on Wednesday, the company announced that its bonus issue had been approved by shareholders,…
Copper prices rose by 0.48% to ₹821.05, driven by a softer dollar and short-covering activity. China’s pledge to increase debt and stimulate growth boosted sentiment, but it lacked specific details on the stimulus and limited enthusiasm. China’s weaker-than-expected September trade data raised concerns about demand, while the US Federal Reserve’s cautious interest rate cuts weighed…
