Market and Business News

Bangalore, December 15, 2021, Saturday Thus the financial year runs from March to March. Normally, income tax returns are filed by the end of July, but due to the Corona epidemic, the deadline for filing income tax returns for 2020-21 and filing year 2021-2 was earlier extended to September 30. It was later extended to December 31. There is still speculation that this date may be extended after the two-time filing of returns has been extended. It is argued that by December 15, 2021, 4.5 crore people have filed ITRs for the financial year 2020-21. The deadline for filing a return is now 15 days. An average of 3 lakh returns are being filed daily. As such, the number of people filing returns is likely to be lower than last year. Last year, for the year 2015-20, 25 million people had filed IT returns. The January 31 deadline is not enough for at least that number to be maintained. Based on this, IT file debt is expected to increase. A new portal was launched in June for filing ITR in t...

US Fed bonds tapping, global markets rally despite decision to raise interest rates (Gujarat News Correspondent) MUMBAI: The US Federal Reserve yesterday announced a two-fold cut in bond buying, signaling a three-fold increase in interest rates in the year 203 to curb inflation, with global markets pointing positive instead of negative today. Was. Federal Reserve Chairman Jerome Powell said the rapid rise in employment in the US now requires a focus on inflation and that the economy no longer needs stimulus-bond buying. Recovery was also seen in Asian markets today. Funds rallied today, led by IT-software services and technology stocks, to break the five-day index-based decline in Indian stock markets. Consumer durables, oil and gas stocks, the Sensex finally rose 119.11 points to 301.15 and the Nifty spot rose 3 points to close at 19.50. Brent crude rose ૩ 1.15 a barrel to ડો 2.01 a barrel and Nymex crude rose ૬ 1.15 to close at ૩ 2.09 a barrel, as crude oil inventories in the Unite...

MUMBAI: Private companies are reaping the most benefits of the initial public offerings (IPOs) boom of 2021 and the government has either been reluctant or lagging behind. Along with the boom in the country's secondary market, the primary market is also booming in the current year and in 2021, companies have raised Rs 1,15,6 crore through six public payments. Of the 52 IPOs received till November this year, only two were public IPOs. Out of the total amount of Rs 1.10 trillion raised through public payments, Rs 5 crore has been raised by two public sector companies, which is less than five per cent of the total amount, according to a research report. One of the reasons the government is lagging behind in taking advantage of the current boom is bureaucracy, said one analyst. For the last two years, the government has been talking about LIC IPO. He also said that the IPO should have come in the current boom. It remains to be seen whether the government will be able to bring in L...

AHMEDABAD: Indian stock markets have been volatile for the past one and a half months after touching record highs. However, market analysts believe that the market is unlikely to rebound unless foreign investors stop selling. According to available data, foreign investors invested Rs. Sales of Rs 301.5 crore were undertaken. Earlier in October, he had spent about Rs. 5,000 crore has been sold. In the current month, foreign institutional investors have so far invested Rs. 15 crore while domestic institutional investors sold Rs. 17,200.50 crore. The Nifty range is expected to remain bound until the end of this month, when foreign institutional investors will start allocating for 203. The market will continue to bounce behind the good-natured factors. If there is no major threat on the Corona front, the country's economic activity will improve further. The RBI has made almost no changes to its recent inflation and growth forecasts and has ensured adequate liquidity in the system. ...

At the bi-monthly review meeting of the Monetary Policy Committee (MPC) last week, it was decided to keep the policy rates unchanged. This was already expected. The Reserve Bank of India's (RBI) Committee on Policy Rates has not made any change in the policy repo rate and has decided to maintain its moderate stance unless there is a need to support economic growth. There was no discussion about the gradual withdrawal of special incentives at the policy level. The committee also did not change its stance on the macroeconomic situation. But with the spread of the new form of the Covid-12 virus, Omicron, uncertainty has increased. According to the committee, India's economic growth rate is expected to be 7.5 per cent in the current financial year. Inflation is projected to average 4.5 per cent this year. According to the committee, inflation is expected to reach 7.5 per cent in the fourth quarter, but should come down to 5 per cent in the first six months of the next financial y...

- Investors move towards IPO and equity market with 'Risk Hai To Isk Hai' attitude In India, fixed deposit is generally regarded as a safe and profitable investment. However, the attractiveness of FDs has diminished in recent years due to lower interest rates. On the other hand, following the bumper returns received by investors from the equity market, especially in the aftermath of the first phase of the Corona epidemic, the Indian public is now investing in IPOs and the secondary equity market with a 'risk hai to isk hai' attitude. Now investors are looking at IPOs as an alternative to FDs. A research report by the State Bank of India also seems to support this. According to a SBI report, bank deposits have fallen sharply by Rs 4.5 lakh crore since Diwali. The SBI research report said that the sharp decline in deposits between November 8-12 was the largest since November 15, the biggest drop in the last three years this fortnight. On the other hand, if we talk abo...

- Higher-than-expected inflation rates could prompt global central banks to tighten lending policy ahead of time The new variant of the deadly epidemic Kovid-18 Omikro has once again created an atmosphere of terror in the global economy. In addition, rising inflation and liquidity crises have added fuel to the fire. In the calendar year 2021, the benchmark BSE Sensex and the NSE Nifty of the Indian stock market have seen a sharp rise of 20 to 5 per cent. Meanwhile, global equity markets, including India, appear to be on high alert to welcome the new calendar year 207. The main risk, market analysts say, is that the existing vaccine is less effective for a new variant of the Covid-12 transition, Omicron. Rising inflation is also a threat to the asset class in 2021, even though many brokers-traders believe that the current high inflation rate is temporary. However, volatility relative to projected inflation rates could prompt the world's central banks to tighten monetary policy an...

- In November, 10 companies raised a record Rs. 5,000 crore collected Share prices fluctuate when anchor investors start selling their shareholdings at the end of a 90-day lock-in period in an IPO allotment. According to the EPO, November was a bumper month in which 10 companies lost a record Rs. 2,119 crore. However, December will test the patience of investors who invest in stocks of these companies as the one-month mandatory lock-in period for anchor investors is coming to an end this month. As per SEBI rules, shares allotted to anchor investors are locked for 90 days from the date of allotment so they cannot sell the shares allotted to them during this period. Anchor Investors are large companies that invest heavily in IPOs. Stock prices fluctuate when anchor investors start selling their shares at the end of a 90-day lock-in period in an IPO allotment. The anchor investors' lock-in period of 10 IPOs in November is coming to an end in December. These companies include Naya...

- Everyone was amazed to see Elon Musk's face with a hairstyle that we call bowl cut hair style in Gujarati - The youngest and funniest Elon Musk is also the founder of SpaceX. Elon Musk, the richest man in the world, jokes that people call him a funny rich man. He is very active on social networks Three days ago, Elon Musk sold 3 million shares of his company and commented that he wanted to step down as CEO. .. Elon Musk, the world's richest man and owner of the Tesla company for 40 years, is a happy creature. They have the most wealth in the world. The other richest people in the world who come next to him are rarely found enjoying themselves in public. The list of the richest people in the world after Elon Musk with a net worth of 3.04 billion includes Jeff Bissoz (૭ 206.04 billion), Bernard Arnold (૯૪ 16.06 billion) and others. All of them are younger than Sai and also the founder of the funny Elon Musk Space X. Elon Musk, the richest man in the world, jokes that peopl...

MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...

(Gujarat News Office) MUMBAI: The dollar rose again to close at Rs 5 against the rupee in the Mumbai currency market today. The rupee also depreciated against the dollar in the currency market amid a slump in the stock market. The dollar opened at Rs 4.5 in the morning and touched a low of Rs 4.5 and a low of Rs 4.5. The dollar rose 3 paise today. Meanwhile, according to market speculation, if the dollar appreciates above Rs 5, it is likely that state-owned banks will start selling dollars at the behest of the RBI. The US Federal Reserve meeting began on Tuesday and will end on Wednesday (today) and the market was now keeping a close eye on the meeting's views on raising interest rates and reducing bond buying. Apart from the US, the players were also watching the meetings of Bank of England, Bank of Japan and European Central Bank. Globally, the growing infestation of Omicron virus has also had a negative impact on the rupee. In the Mumbai market, charts were also showing the ...

(Gujarat News Office) MUMBAI: Gold prices in the Mumbai jewelery market today fell again after rising. Silver also saw two-way fluctuations. Gold prices in global markets were on a downward trend today, but in the domestic currency market, the rupee continued to strengthen against the dollar, market sources said. Gold prices in the world market were at ૭૮૭ 16 to આજે 17 an ounce today. Behind gold, global silver prices also fell by ૨૨ 6.41 an ounce to ૨૨ 2.8 an ounce, from ૭ 2.15 to ૮ 2.15 an ounce. In the Mumbai jewelery market today, the price of gold with GST of 10 grams has gone up to Rs. 2013 was closing when the price of 8.50 was Rs. 4,150 to Rs. 515 while the price with GST was 3% higher. Meanwhile, the price of silver in Mumbai today closed at Rs 3050 per kg, excluding GST, at Rs 2060, while the price with GST was 5 per cent higher. In the Ahmedabad jewelery market today, gold was trading at Rs 30 for 2.50 and Rs 70 for 2.50 while Ahmedabad silver was trading at Rs 2,000. M...

(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils fell in the spot and futures market today in the Mumbai oilseeds market while domestic edible oils remained calm. In the Mumbai spot market, the price of 10 kg of imported palm oil fell by Rs 115 while the price of crude palm oil CPO Kandla fell by Rs 1,100. In the futures market, CPO prices fell by Rs 10.50 and soyoil futures by Rs 2.50. Soybean futures fell by Rs 150 to Rs 12 per kg. However, there were indications that castor futures had risen by Rs 150 to Rs 15 today. In the Mumbai spot market today, soyoil prices fell from Rs 1,150 to Rs 115 for digam and Rs 113 for ref. The price of sunflower was reduced to Rs. 1150 and Rs. In Rajasthan, mustard cultivation has so far increased to 2.5 lakh hectares. During the same period last year, the area under cultivation was 2.08 lakh hectares. Experts were pointing out that the total annual planting of mustard this year is likely to touch 4 lakh hectares as...

MUMBAI: After retail, the wholesale price index (WPI), which was released today, rose to 18.50 per cent, hitting a 17-year high. The meeting of the US Federal Reserve's Open Market Committee begins today. The benchmark indices of the Indian stock market closed lower for the third day in a row today as investors adopted a wait-and-see policy. Finance Minister Nirmala Sitharaman plans to start pre-budget discussions from tomorrow to formulate the budget for the next financial year. The BSE Sensex finally closed at 3111.05, down 18.5 points from yesterday's low of 208.5 and above 4.5. Compared to yesterday, it was down 4.5 points and closed at 12.30. Electricity and pharma stocks were the main gainers, while auto and banking stocks were the weakest. There was mixed flow in FMCG. Market breadth remained positive on BSE. 1,901 stocks rose while 1,610 declined. 118 shares remained unchanged. Nifty Pharma Index rises 12 points: Lupine, Aurobindo, Torrent Pharma Lupine's share ...

MUMBAI: Soyoil imports doubled in November but crude palm oil fell. Total vegetable oil (including edible and non-edible oils) reached 11.5 lakh tonnes in November. The imports were 10.40 lakh tonnes in October and 11.04 lakh tonnes in the same month a year ago. Thus, the total import of vegetable oils in November has increased by 2.4 per cent and 11 per cent on a monthly basis. According to the Solvent Extractors Association, soyoil imports in November rose by 115 per cent to 6.5 lakh tonnes. However, palm oil imports fell to 7.5 lakh tonnes in November from 2.4 lakh tonnes in October. Imports of RBD palmolin stood at 7 tonnes in November as against 315 tonnes in October. Imports of crude sunflower oil have increased to 1.5 lakh tonnes. Imports of soft oil stood at 4.5 lakh tonnes in November. Imports of refined oil as well as crude oil have been declining in November. Of this, 8 tonnes of refined oil and 10.50 lakh tonnes of crude oil have been imported. As per the statistics, as...

Mumbai: Expensive edible oils may bring more relief to the people in the coming days. In the last one month, the price of edible oils has gone up by Rs. 8 to 10 and in the coming days the price will go up by Rs. 6 to 7 is likely to decrease. The edible oils association said that due to factors such as sharp fall in import duty by the government, softening global prices, over-cultivation of oilseeds, edible oils may become cheaper in the coming days. It is noteworthy that during the Corona epidemic, the prices of edible oils jumped by 40 to 100 per cent and reached a historic high, which increased the budget of housewives' kitchens. The president of the Solvent Extractors Association (C) said that the association had urged its members to reduce the price of edible oils as much as possible before Diwali. In the last 30 days, the prices of edible oils in the retail market have come down by Rs 8 to 10 per kg. In the near future, the price of edible oils may fall further by Rs 2-3 ...

(Gujarat News Office) MUMBAI: Gold prices rose in the Mumbai jewelery market today. Silver was even higher. The rising market saw signs of rising import costs, with the market seeing fewer sellers and more buyers today. In the global market, the dollar index declined and bond and treasury yields also declined. At home, the gold price in Ahmedabad Jewelery Bazaar today is Rs. 120 increased to Rs. 50 and Rs. 30 while Ahmedabad silver price was Rs. Were being maintained at the head of 2000. Gold prices in the world market today ranged from ૭૮૨ 16 to ના 17 an ounce, while global silver prices hovered at ૨ 2.41 to ૨૨ 6.5 an ounce, up from ૯ 6.15 an ounce. The rise in global gold prices was also seen amid indications of a new omikron virus outbreak in Britain. The British pound fell against the dollar in world markets today. The Turkish lira plunged to a new low. In the US, the market was watching the two-day meeting of the Federal Reserve on Tuesday and Wednesday. The market players wer...

(Gujarat News Office) MUMBAI: Cingulum oil prices rose in the Mumbai Oilseeds market today while cottonseed oil prices were hitting, the weather in the world market was mixed. In Malaysia, palm oil futures were 15 points softer today, while soybean oil prices in Anerika were projected to be in the range of 4 to 5 points in the projection this evening. New demand in the Mumbai market was slow. In the Mumbai spot market today, the price of 10 kg of cingulum oil is Rs. 120 and cottonseed oil Rs. 1500 lived. Saurashtra side price of Singtel Rs. 15 and 18 kg Rs. 2050 and cotton washed Rs. 1140 to 1140 were speaking. Imported palm oil prices fall by Rs. 115 remained. Crude Palm Oil CPO Kandla Price Rs. 1108 remained. In the futures market, CPO prices were showing a slow decline and soyoil prices were showing a slow recovery. Meanwhile, in the castor futures market, the lower circuit today saw the price fall by four per cent, while soybean prices touched Rs. There were indications of stayin...

MUMBAI: The benchmark indices of Indian stock markets closed lower on the first day of the week after being extremely volatile. Amicron's growing concerns and the US Federal Reserve's open market committee meeting starting tomorrow were a warning to investors. Profit booking was heading higher. It is almost certain that the Federal Reserve will announce a taper program in the wake of inflation and strong employment in the United States. The continued selling of foreign institutional investors in the Indian market is also hurting the market mood. The Nifty 50 index slipped below the 1500 level. The BSE Sensex crossed the 2000 level intraday. The Sensex closed higher at 208.5 today, lower at 8.30 and finally closed at 6.5. Compared to the previous close, the Sensex was closing at 202.5. The Nifty 50 Index closed at 12.20 above and 17.5 below and finally closed at 12.5. Compared to the last session, the Nifty closed down 13.05 points. Shares of realty, oil and gas and public sect...

(Gujarat News Office) MUMBAI: New demand in the Mumbai oilseeds market was slowing down today. Market trends were mixed. Peanut oil and cottonseed oil prices stopped falling. While the decline in various imported edible oils continued. World market news was showing softness. Soybean oil prices in the US overnight trade were down 115 to 150 points. With soyoil falling in the US, analysts were predicting lower prices for palm oil in Malaysia on Monday morning. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was Rs 1,610 and cottonseed oil was Rs 150. On the Saurashtra side, the price of cingulum oil has gone up from Rs 2,000 to Rs 6,050 today to Rs 4,050 to Rs 1,050 (15 kg) while the price of 10 kg loose has gone up from Rs 150 to Rs 150 to Rs 12. There, the price of cotton washed was quoted at Rs. Meanwhile, in the Mumbai spot market, imported palm oil fell by Rs 115 to Rs 115 today, while crude palm oil CPO Kandla was trading at Rs 1,105. The last price in ...

(Gujarat News Correspondent) MUMBAI: Indian stock markets have been showing uncertain two-way turmoil for the past few days. Rising inflation and rising inflation in countries including the US have hit a 40-year high, with the US Federal Reserve signaling last week to break the bond-tapping bond-buying program. Liquidity in global markets has increased again in anticipation of the current situation. As the Corona transition begins to spread around the world with the new form of the omicron, economic concerns with health are once again on the rise, with reports that the case is not a major concern at the moment. The stock market has rallied sharply in the past week, giving the expected correction to the overheat boom in Indian stock markets as well. But still the situation is uncertain and caution is advised with caution. From here, things get trickier, and this is where the true meaning of burning up of bad psychic imprints comes into play. On the global front, concerns over Corona-Om...

Unemployment claims in the US fell to a 30-year low and the dollar rose (Gujarat News Office) MUMBAI: The rupee weakened further against the dollar in early trade today as the dollar strengthened against the dollar in early trade. The rupee also weighed on the rupee as the market remained in the red at the end of the day after a two-way rebound in the stock market. In the US, the jobless rate has dropped to a 20-year low, while the job market has strengthened to a 30-year low. In the Mumbai currency market, the rupee opened at Rs 4.5 in the morning trade and touched a low of Rs 4.5 and a high of Rs 4.5. The dollar had gained another 3 paise today. The rupee fell to a one-and-a-half year low. Rising overseas outflows from the stock market also had an effect on the rupee. Such dollar prices were earlier seen in June 2020. At the time of writing, the market was watching US inflation figures. Meanwhile, the global dollar index was up 0.05 per cent today at 5.05 to 7.5. Meanwhile, the ...

MUMBAI: Lenders have taken eight companies to bankruptcy tribunals in the six months from April to September after a year-long moratorium on bankruptcy proceedings was lifted in March 2011 due to the Corona epidemic. In the September quarter alone, 12 companies were taken to the National Company Law Tribunal (NSB) batch for default. Although no major companies have gone bankrupt during this period, the recovery of financial creditors has slowed to 8.5% in September from 3% in the previous year. This is slightly lower than the June quarter recovery, but has been steadily declining since September 2020. This figure is even lower than the pre-Coro average ratio of 20%. According to the Insolvency and Bankruptcy Board of India (IBBI), the total number of companies accepted for bankruptcy proceedings so far has risen to 206. Out of which 3% cases have been disposed off and 5% cases are still under process. Only 15% of companies have had a successful resolution, meaning they have found a...

Mumbai: November has been a frustrating month for the automotive industry. Passenger vehicle sales in November were the lowest in three years and two-wheelers in 11 years. The main reason for the decline in vehicle sales is the shortage of semiconductors and consequently low manufacturing by companies. According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in November fell by 12 per cent year-on-year to 5,13,8 units. In which car sales fell by 3% to 1,00,308 units. Similarly, total sales of two-wheelers fell by 9 per cent to 10,50,612 units in November from 12,00,8 two-wheelers in the same month a year ago. Sales of scooters fell by 3% to 2,09,8 units and sales of motorcycles fell by 9% to 2,8,8 units. This time, the sales of three-wheelers have also come down to 7,51 units, down 6 per cent from 2,051 units a year ago, which is the lowest sales in the last 15 years. With this, the total sales of all types of vehicles in November fell by 3% year...

MUMBAI: Former Reserve Bank Governor Raghuram Rajan has said that the current picture of the country's economy is mixed, with some sectors of the country's economy performing well while others are struggling to recover. Rejecting talk of recovery in the English alphabet V-shape, he said that the improvement after a sharp decline is always V-shaped and the real challenge for the country is to achieve a steady growth of 2-3 per cent. India still has a long way to go to achieve the development it deserves. A growth rate of 2-3 per cent is required in the economy to increase employment. In the second quarter of the current financial year, India's economic growth rate has been 7.50%. The growth rate has been in line with expectations, but this is due to the low levels in the last financial year. Rajan said that priority should be given to tackling the challenges on the employment front. "India has succeeded in achieving the level of economic growth that preceded the Co...

(Gujarat News Office) MUMBAI: Gold and silver prices continued to decline in the Mumbai jewelery market today. With prices falling further in the global market, the domestic import cost has come down and as a result, prices in the jewelery market have come under pressure, leading to more selling and less buying in the declining market, market sources said. The rise in the dollar index in world markets, as well as rising bond and treasury yields, led to a sell-off in gold. Unemployment claims in the US have plummeted to a 30-year low, with job markets rising and the global dollar index rising. Gold prices in the world market today were ૭૭૨ 16 to વાળા 16 an ounce, up from ૭૭૫ 12 to 12 an ounce. Behind gold, global silver also fell from ૬ 2.15 an ounce to ૭ 6.15 an ounce and was trading at ૮૮ 71.8 to ૮૯ 71.8 an ounce today. Meanwhile, the fall in gold prices in the world market, however, slowed down today on the back of rising crude oil prices in the world market. New York's main ...

Cotton prices in the US fell to a six-week low (Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai Oilseeds market today. The new demand was wing. The weather in the world market, however, was mixed. Palm oil futures in Malaysia were up 3 points today. In the US, soyoil prices were projected to be in the range of 4 to 5 points in the projection this evening. Meanwhile, in the Mumbai spot market, the price of 10 kg of groundnut oil fell by Rs 1,310 and cottonseed oil by Rs 150. When On the Saurashtra side, there was news that the price of cingulum oil was Rs. 150 and Rs. In Mumbai, imported palm oil was priced at Rs 1,150 while crude palm oil CPO Kandla was down at Rs 1,105. In the futures market, CPO prices were quiet at Rs 1,109.50 in the evening. Soyoil futures were trading higher at Rs 2.50. Meanwhile, soybean futures rose by Rs 150 to Rs 15 per kg this evening. While castor futures were at Rs 50 plus. Mumbai-based castor oil...

(By commerce representative) MUMBAI: The benchmark indices of Indian stock markets closed with modest declines after being extremely volatile on the last day of the week. The three-day correction took a break behind the world market today. However, mid-cap stocks continued to attract investors. Globally, Asian markets also closed lower and European markets opened lower. Investors are cautious amid reports of deteriorating conditions in some countries over Omicron. Financial and IT stocks were under pressure while realty, auto and metals were the main attractions. The BSE Sensex was down 20.5 per cent at 3.7 per cent while the Nifty 30 index was down 3.3 per cent at 1211.30. The Sensex was hovering between a low of 314.5 and a high of 7.31. The Nifty was also seen at a low of 1908.8 while at the top it was seen at 12.5. The Nifty Midcap 100 Index rose 4.5 points to close at 31,606.05. Nomura maintains a neutral outlook for Indian equities for 207. Auto stocks rise on lower buying: Mah...

MUMBAI: The Reserve Bank of India (RBI) has raised the limit for companies to invest in IPOs or government bonds through UPI. Announcing its bi-monthly monetary policy, the Reserve Bank of India (RBI) said it has raised the limit on investments in government securities through IPIs in IPOs and RBI retail direct schemes to Rs. 3 lakh is proposed, while at present this limit is Rs. 3 lakh. Making other announcements regarding UPI payments, the RBI said it was proposing to launch UPI-based payment products for feature phone users. The purpose of which is to enable low amount UPI transactions through 'on-device' wallet in UPI app. This will enable digital payments to reach as many people as possible. There are about 110 million mobile phone users in India, of which about 20 million have smartphones, indicating that a large segment is still using feature phones. The UPI has emerged as a popular payment option for investing in IPOs, said the Reserve Bank Governor. UPI payment fac...

Will the Reserve Bank of India signal an increase in interest rates on Wednesday? (Gujarat News Correspondent) MUMBAI: The rising number of positive cases in India with rising transition to the new form of corona omicron in the world has raised concerns and on the other hand rising inflation will continue to be a major negative factor for the global and Indian economy and market, the Reserve Bank of India (RBI) said tomorrow. A two-day credit policy review meeting is being held from Tuesday to Wednesday, this time to signal a rise in interest rates. On the international front, China's economy is slowing down again, with the Chinese central bank lowering its reserve ratio and negative signals. Did offloading. Long overbought IT-software services, talk of large offloading by IT group in IT stocks and sale in banking-finance, consumer durables, automobile, power-capital goods, metal-mining, oil-gas stocks. 17 and Nifty spot fell 4.5 points to close at 1912.8. Crude Brent rises by ૭...

(Gujarat News Office) MUMBAI: Imported palm oil traded at around 400-500 tonnes in the Mumbai Oilseeds market today. Such trades were done at Rs. 115 to 115 per 10 kg. Palm oil futures in Malaysia were reported to have jumped 101 points. In the US, soyoil prices were 3 points higher in the projection this evening. Meanwhile, in the Mumbai spot market, cingulum oil was trading at Rs 150 today while cottonseed oil was up by Rs 150. On the Saurashtra side, cotton washed was raised to Rs 1,200. While the price of cingulum oil was Rs. In the Mumbai market, imported palm oil was priced at Rs 115 while crude palm oil CPO Kandla was priced at Rs 115. In the futures market, CPO prices were quiet this evening while soyoil prices were at Rs 5 plus. Soybean futures and castor futures were showing slower declines. In the Mumbai spot market, soyoil prices were at Rs 1,150 for digam and Rs 15 to Rs 150 for ref. The price of sunflower was Rs. 1150 and Rs. The price of mustard was Rs.150 and that of...

(Gujarat News Office) MUMBAI: The dollar rose against the rupee in the Mumbai currency market today, hitting an 18-month high. Sources said that the rupee had depreciated sharply against the dollar in the currency market today as the stock market plunged again. The dollar opened at Rs 6.15 today with a low of Rs 4.15 and a high of Rs 4.5 and closed at Rs 4.5. The dollar had earlier touched a 52-week high of Rs 5.31 and today, the dollar has moved closer to its peak, sources said. The dollar rose 3 paise today. The dollar index was up 0.50% against various major currencies in world markets today. The dollar index, which was 2.15, rose to 8.21 today. Market players were keeping an eye on the growing prevalence of the new virus Omicron and the price of crude oil. Meanwhile, the British pound fell by 50 paise against the dollar today as the dollar appreciated. The pound, which was trading at Rs 4.5, today closed lower at Rs 2.50 and closed at Rs 4.5. The European currency, the euro, h...

MUMBAI: Shares of China's Evergrande Group plunged more than 15 per cent to an 11-year low on Monday after the group's statement that it was not sure it would have enough funds to pay off its debts. Following Evergrande's statement, Chinese authorities sent a letter to its chairman. The 90-day grace period ended today, November 9, when the નના 25 million coupon payment was due. China's one-time real estate giant is currently surrounded by more than 500 billion in liabilities. The failure of Evergrande could send shockwaves through China's property sector. Evergrande said in an exchange filing that it had received a notice from lenders to pay 30 million. Following Evergrande's statement, China's central bank, the regulator of insurance and the regulator of securities assured the market that any risk to the property market would be contained. The process of raising funds in the medium to long term will not be disrupted by a single Chinese company, the Pe...

BEIJING: China's central bank has cut its cash reserve ratio for its banks. The reduction will take effect from December 15. The decision was taken by the People's Bank of China to support a slowing economy due to the downturn in the property market in China. The cash reserve ratio has been reduced by half a per cent, according to a statement from the People's Bank of China. This reduction is part of increasing liquidity in the economy. The cuts will release ૮૮ 15 billion in liquidity into China's financial system. Released figures indicate that China's economy and industries are stabilizing. However, the Evergrand crisis has forced China to take control of the property market. A reduction in the reserve ratio will not result in a reduction in lending costs but will reduce the amount that banks have to reserve with the central bank.

MUMBAI: Growth has picked up in the current financial year after achieving a healthy growth of 5 per cent in textile exports in FY2021, but there is no denying the possibility that the Corona variant will hamper growth. Retailers are building up inventories and textile exports have picked up in the current financial year as lockdowns eased and the hospitality industry revived, but concerns remain that Omicron's case and the steps being taken by various countries to slow down export growth. Omicron may affect demand. It is difficult to estimate the impact on demand at present but it depends on the situation at the country's export hubs, said a textile exporter. Orders for the current year's Christmas have been completed and goods have been shipped, he said. Travel restrictions and regional restrictions can create logistical problems that can make it difficult to deliver new orders. There has been a significant growth in textile exports in the current financial year as c...

AHMEDABAD: Stock markets around the world, including India, have been adversely affected by other unfavorable reports, including fears that a new variant of the corona virus, Omicron, could spread rapidly around the world and lead to a major global financial crisis. Under these circumstances, the Nifty is likely to see a correction of 1000 points by the next budget, market experts said. With the new variant of the Corona prevailing, many countries of the world are once again in trouble. The path of re-lockdown has been adopted by many countries. The warning issued by the World Health Organization (WHO) to all countries on the issue has sent shockwaves through the market and has caused panic among all investors, including foreigners, said Sandeep Bhatia, head of the Macquarie Group in India. On the other side of Omicron's concerns, other reports, including a signal from the US Federal Reserve to delay bond wrapping, i.e. early suspension of the bond-buying program, and the rise i...

Global gold declines as bond yields and dollar index rise (Gujarat News Office) MUMBAI: Gold and silver prices were on a downward trend in the Mumbai jewelery market today. World market news was booming. However, the fall in global gold was limited as crude oil prices rose sharply by 3.5 per cent today. Gold prices in the world market, which were at ૭૮૩ 15 to ઔ 18 an ounce, were down to ૭૭૭ 15 to આજે 12 today. As bond yields rose in the US and the dollar index rose, gold rallied in world markets. Meanwhile, global silver prices also fell from ૫૨ 4.5 to ૫૩ 7.5 an ounce to લર 4.5 to ૩૩ 6.5 an ounce. There was news that China had reduced the cash reserve ratio for banks to increase liquidity in the currency market by 1.50 trillion yuan. Now the eyes of the world market are on the US inflation figures. In the Mumbai market today, the price of gold, excluding GST, was Rs. While the price of 2.50 was Rs. While prices including GST were 3% higher. Meanwhile, Mumbai silver was trading at ...

MUMBAI: Banks and companies are scrambling to raise money in the Indian debt market amid fears that the Reserve Bank of India may raise interest rates at its December monetary policy meeting. Fundraising by companies and banks from the bond market has increased sharply in the last two weeks. According to data from BSE and NSE bidding platforms, companies and banks have raised a total of Rs. 2.3 crore, of which Rs. 15,150 crore. Banks and non-banking finance companies (SHMs) have so far raised Rs. 206 crore and Rs. 2 crore have been raised. In the secondary market, yields on corporate bonds are trading between 4.5% -3.5% on three-year securities, 7.5-7.5% on five-year papers and 6.5-2.5% on 10-year securities. Is. Market experts are of the view that RBI may raise reverse repo rate and make repo rate operational. The RBI is now trying to withdraw money from the system through various means, including variable rate reverse repo (FEE), to slow down the liquidity in the system through R...

AHMEDABAD: After three consecutive weeks of gains, the foreign exchange reserves have seen a decline again this week. Last week saw a sharp decline in total foreign exchange reserves on the back of selling of foreign funds. The country's foreign exchange reserves declined by ૭ 2.612 billion to ૬૩૭ 2.8 billion in the week ended November 9, the Reserve Bank of India said in a weekly report. The foreign exchange reserves reached ૪ 20.01 billion in the week ended November 15, an increase of ૯ 25 million. On September 3, 2021, the foreign exchange reserves hit an all-time high of 4.5 billion. The reason for the decline in total reserves is the reduction of FCA. Foreign currency assets fell by ૪૮ 1.05 billion to ૬૬૪ 2.7 billion during the reporting week. Foreign currency assets, which account for a significant share of the total reserves. Depreciation of global currencies other than the dollar, such as the euro, pound and yen, against the dollar also affects the FCA. Apart from this...