Tag: Global Markets

Share Market: Recovery continues after a fall in early trading on Tuesday, these stocks fell; Rupee breaks at lower level

The key stock index BSE Sensex began 340.76 points lower at 54,054.47 in early trade on Tuesday as a result of weakness in global markets. NSE Nifty opened at 16,143.35 while losing 72.65 points at the same time. However, a comeback is now apparent after the market’s decline up to 11 a.m. in the morning. Sensex has broken 186.75 points and is currently trading at 54,208.48. NSE Nifty is down 70.85 points at 16,145.15 at the same time.

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These stocks saw a decline

Top Sensex losers included Tata Steel, Titan, Bajaj Finserv, HDFC, UltraTech Cement, Nestle, Bajaj Finance, and ICICI Bank. In contrast, NTPC, Wipro, Tata Consultancy Services, and Bharti Airtel all had positive returns. In other Asian markets, stocks were trading at lower prices in Shanghai, Tokyo, Seoul, and Hong Kong. US stocks closed Monday with a loss. On Monday, shares owned by foreign institutional investors were sold for a net amount of Rs 170.51 crore, according to preliminary stock market statistics.

Rupee breaks to record low level

Due to a decline in the domestic equity market and a firming US currency abroad, the rupee on Tuesday dropped 13 paise to 79.58 against the US dollar in early trade. Additionally, ongoing sales of foreign currency and a rise in the price of crude oil, according to forex traders, placed pressure on the local currency.

The Indian rupee depreciated 13 paise over the previous closing price, falling from 79.55 to 79.58 versus the US dollar in the interbank foreign currency market. The US dollar’s performance against the other six major currencies is gauged by the dollar index, which rose 0.27 percent to 108.31.

Gold Price Today: Gold prices increased for the second consecutive day, now the price of 10 grams has become so much

In the domestic market, gold prices have increased for the second day in a row today. On Thursday, the April futures gold on the Multi Commodity Exchange gained 0.14 percent. Silver, however, has lost its lead. In early trading, May futures silver has increased by 0.15 percent, but after that, it has decreased. Silver futures on MCX are currently down 0.12 percent.

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Gold rose 0.8 percent in the previous session, while silver gained nearly 0.9 percent. The yellow metal reached a high of Rs 55,600 earlier this month amid the Ukraine crisis.

On the global markets, gold was steady at $ 1,943.75 an ounce today. Meanwhile, oil prices have increased again following reports that US President Joe Biden and other European leaders imposed new sanctions against Russia. Silver rose 0.1 percent to $25.08 an ounce, while platinum declined 0.3 percent to $1,016.99.

Gold Silver Price on 24 March 2022

Gold futures prices rose by Rs 73 to Rs 51,840 per 10 grams on Thursday on the Multi Commodity Exchange. Meanwhile, May futures silver fell by Rs 81 to Rs 68,183 per kg.

In Brussels, Vice President Joe Biden will take part in meetings about the NATO-led coalition’s response to the conflict in Ukraine that began on February 24. A rise in crude oil prices and weak stock markets led to a slight rise in gold and silver prices. While the Russo-Ukrainian conflict continues, not much has changed from a market perspective. The US president met with leaders of NATO and the European Union on Thursday to discuss the Russian invasion of Ukraine.

As a result of the Ukraine war and ensuing sanctions, commodity prices and inflation have risen, resulting in rapid monetary tightening from some central banks. According to Bloomberg, gold-backed exchange-traded funds are holding their highest levels in more than a year. On Wednesday, SPDR Gold Trust stock rose 0.4% to 1,087.66 tonnes, its highest level since February 26, 2021.

Over the past 11 months, gold imports have increased

Gold imports are up 73 percent to $ 45.1 billion in the first 11 months of the current financial year. Gold imports have increased because of high demand. The imports of precious metals, however, dropped by 11.45 percent to $4.7 billion in February 2022. During the first 11 months of the current fiscal year, gold imports increased the country’s trade deficit. During the first 11 months of the fiscal year 2021-22, the trade deficit increased to $176 billion, up from $89 billion during the same period of the previous year.

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