R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
Riding on an improved show across parameters, TVS Motor (TVS) outperformed larger two-wheeler peers Hero MotoCorp (Hero) and Bajaj Auto (Bajaj) during the September (Q2 of FY23) quarter. The Chennai-based firm, which has the most-diversified portfolio among two-wheeler majors, posted a 28 per cent jump in revenues. This compares to 18 per cent growth for Bajaj Auto and single-digit uptick for Hero MotoCorp.
Sentiments remained bearish as gold fell to 16-week low in the overseas markets as positive US economic data backed the case for the Federal Reserve to keep on reducing monetary stimulus which has dimmed the metal's appeal.
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Gold looks cheap compared to the stock markets that are highly overbought at the moment.
India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.
Tata Motors, Ford, Nissan, Maruti Suzuki, Toyota Kirloskar, BMW, Renault and Isuzu have also announced price hike from next month citing impact of increase in commodity prices and foreign exchange rates.
Despite its recent underperformance, gold must be a part of your portfolio.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
Adani Enterprises became the fourth listed company of Gautam Adani Group to cross Rs 4 trillion market capitalisation (market cap), as the stock hit a new high on the BSE in Tuesday's intra-day trade. At 01:24 pm; with Rs 4.04 trillion market cap, Adani Enterprises stood at number 15th position in overall market cap ranking on the BSE, data shows. Adani Transmission is at top of the group companies list, with market cap of Rs 4.48 trillion, followed by Adani Total Gas (Rs 3.96 trillion), and Adani Green Energy (Rs 3.72 trillion).
Equity benchmark Sensex ended marginally higher after a choppy session on Friday as concerns over the economic impact of the second wave of Covid-19 and pace of vaccination weighed on investor sentiment.
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
Shanghai Gold Exchange plans to open a centre at GIFT City, in partnership with BSE or NSE
As the country moves towards creating a spot gold exchange, markets regulator Sebi's whole time member G Mahalingam on Wednesday suggested routing all the imports of the precious metal through the exchange ecosystem in the future. Such a "funnelling" would ensure that gold monetisation takes place right at the source as the metal enters the country, he said while addressing a conference organised by industry lobby Ficci. However, he also noted that the issue has not been dealt with in the papers floated by Sebi.
Benchmark indices continued their downtrend on Monday, with the Sensex falling 84.88 points, tracking selling in index majors Infosys and Reliance Industries along with weak global equities. The 30-share BSE benchmark went lower by 84.88 points or 0.15 per cent to settle at 56,975.99 after recovering some lost ground during the fag-end of trade. During the day, it tanked 648.25 points or 1.13 per cent to 56,412.62. The NSE Nifty declined 33.45 points or 0.20 per cent to close at 17,069.10.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
The stock market watchdog had said any adverse findings by other regulators might have a bearing on the exchange.
Sri Lanka on Tuesday deployed military personnel at State-run petrol pumps to monitor and manage fuel distribution amidst a shortage that led to serpentine queues of consumers outside filling stations.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
Key stock indices Sensex and Nifty declined over 1 per cent at close on Monday due to heavy selling in banking, auto and FMCG shares amid weak global market trends and continued foreign fund outflows. Reversing its previous session's gains, benchmark BSE Sensex tumbled 638.11 points or 1.11 per cent to settle at 56,788.81. During the day, it tanked 743.52 points or 1.29 per cent to 56,683.40. The broader NSE Nifty fell by 207 points or 1.21 per cent to end at 16,887.35 as 42 of its constituents declined.
'The recent correction in indices has made the markets cheaper to invest for the long term.'
The BSE Sensex maintained its winning run for the fourth session on the trot on Wednesday to reclaim the 60,000-level after a gap of over four months as investors remained upbeat amid softening crude oil prices and persistent foreign fund inflows. A strengthening rupee and positive Asian markets further bolstered sentiment, traders said. The 30-share BSE benchmark jumped 417.92 points or 0.70 per cent to settle at 60,260.13 -- closing above the psychologically key 60,000-mark for the first time since April 5 this year.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
All wholesale commodity markets, including bullion and metals, will remain closed on Monday on account of 'Republic Day'.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. Nifty tumbled 314.95 points to 17,160.70.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
The Agricultural Produce Marketing Committee Act of a state regulates the purchase of agricultural products, such as cereals, pulses, fruits and vegetables for that region. It hobbles farmers, imposing multiple levies on produce and disallows direct sales to private companies.
Bank Nifty closes at a 30-month high; Rate sensitives lead the rally on RBI rate cut optimism.
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
'Earning expectations remain strong.'
The quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
