Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Manappuram Finance, Muthoot Finance, other gold financier stocks drop up to 3%. Here's why
Shares of gold financiers declined as a sharp fall in gold prices and a stronger US dollar weighed on sentiment. Expectations of further US Federal Reserve rate hikes pressured bullion, raising concerns over collateral values and loan demand for gold-backed lenders such as Manappuram Finance, Muthoot Finance and IIFL Finance.
Euro attempts recovery against dollar from around 12-month low
Euro attempts recovery against the dollar on Thursday after being pushed to its lowest level in almost a year. EUR/USD is seen quoting at $1.1403, up marginally on the day after the counter was severely battered through the week and last as dollar firmed up on a hawkish Fed stance. Possibility of more than one Federal rate hike this year to tame soaring inflation is seen propping dollar and weighing on dollar denominated assets. The dollar index is trading above 101 mark and yield on the US 10-year Treasury note is also hovering around 4.4% this morning. Investors also continued to evaluate the outlook for Federal Reserve policy ahead of a key US inflation report that could help shape expectations for interest rates. On the NSE, EUR/INR futures are down around 0.12% at 107.40.
Gold, silver ETFs fall up to 4% as stronger dollar, rate-hike fears weigh
Analysts said silver ETFs have corrected more sharply than gold ETFs as silver functions both as a precious metal and an industrial commodity
Vedanta, NALCO, Hind Zinc: Metals stocks dip up to 3%; here's why
A sell-off in precious metals, especially Silver, owing to strength in the US dollar and hawkish US Federal Reserve stance, triggered selling pressure in metal stocks on Thursday, say analysts.
Vedanta, NALCO, Hindustan Zinc shares fall up to 3% as silver, aluminium, other metal prices tumble. Here's why
Metal stocks including Vedanta, NALCO and Hindustan Zinc fell up to 3% as global metal prices declined sharply. A stronger US dollar, easing Middle East tensions and rising expectations of a Fed rate hike pressured commodities like silver, aluminium, copper and zinc, triggering a broad-based pullback in the metal pack.
INR rebounds on the back of a steep fall in global crude oil prices
The Indian rupee is witnessing a pullback from sharp decline registered this week in opening trades on Thursday as oil prices are receding to near pre war levels and by taking some positive cues from local equities. INR opened at Rs 94.30 and hit a high of 94.25 far during the day. Yesterday, rupee appreciated by 11 paise to settle at 94.65 against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz. However, dollar strength overseas on expectation of a near term rate hike is likely to cap any sharp gains in .
Gold rate falls on MCX on a stronger dollar amid rising expectations of US Fed rate hikes; what should investors do?
Gold rate on the MCX declined in the morning on Thursday, 25 June, due to a stronger dollar. MCX gold August futures were 0.37% down at ₹1,40,749 per 10 grams, while MCX silver July futures were 1.07% down at ₹2,10,801 per kg around 9:10 am.
Gold slips below $4,000 an ounce, silver tumbles nearly 2%: Factors at play
Gold and silver prices fall as a stronger US dollar and expectations of further Federal Reserve rate hikes pressure bullion, investors eye key US economic data.
Dalal Street set for a positive start as GIFT Nifty trades higher
Indian markets bounced back strongly on Wednesday, with the Nifty closing over 24,000, fueled by renewed buying and falling energy prices. Brent crude dipped, easing concerns about the Strait of Hormuz. Despite a rise in market fear gauge, foreign institutional investors offloaded shares while domestic investors showed robust buying. The rupee also strengthened against the dollar.
Kospi steadies after selloff as emerging-market currencies slip on dollar
Emerging-market assets weakened as a stronger US dollar dampened risk appetite, while South Korean stocks rebounded after a sharp tech-driven selloff
Gold, silver rates today: Comex gold falls below $4,000, silver slips under $60 as hawkish Fed outlook boosts US dollar
Precious metals experienced a sharp sell-off on June 24, with gold dropping to $3,980 and silver falling to $58. Factors include a stronger US dollar, rising interest rate expectations, and adjustments in gold forecasts from major banks, resulting in significant losses for both metals this year.
Bank of India eyes $3.5 billion foreign currency inflows on RBI's dollar push
Bank of India aims to raise approximately $3.5 billion through foreign currency deposits and overseas borrowings, leveraging recent RBI measures. This strategic move, including $1 billion from FCNR(B) deposits and $1.5 billion via concessional swap facilities, is expected to reduce borrowing costs by 50-60 basis points.