Market and Business News

(Gujarat News Correspondent) MUMBAI: Index-based caution was observed in Indian stock markets this weekend as the DGCA extended the ban on international flights to India till August 31, 2021, in view of the sudden surge in positive cases in the country signaling the third wave of Corona transition. International crude oil prices also rose to લર 5 a barrel and Brent crude rose to ૭૬ 1 a barrel on the global front, signaling a resumption of erosion of US-listed Chinese stocks and the imposition of 10 to 5 per cent export duty on steel exports to China. The negative impact of the dollar reaching the surface was also seen in the markets today. Along with the softening in the markets of Asian countries, there was also a softening in the markets of European countries. The index-based market entered the negative zone today as the overbought position of funds in metal-mining stocks eased in Indian stock markets and banking-finance stocks remained profitable. Of course, the Sensex, Nifty-based

(Gujarat News Correspondent) MUMBAI: Index-based caution was observed in Indian stock markets this weekend as the DGCA extended the ban on international flights to India till August 31, 2021, in view of the sudden surge in positive cases in the country signaling the third wave of Corona transition. International crude oil prices also rose to લર 5 a barrel and Brent crude rose to ૭૬ 1 a barrel on the global front, signaling a resumption of erosion of US-listed Chinese stocks and the imposition of 10 to 5 per cent export duty on steel exports to China. The negative impact of the dollar reaching the surface was also seen in the markets today. Along with the softening in the markets of Asian countries, there was also a softening in the markets of European countries. The index-based market entered the negative zone today as the overbought position of funds in metal-mining stocks eased in Indian stock markets and banking-finance stocks remained profitable. Of course, the Sensex, Nifty-based

New Delhi: Low interest rates and massive returns have led to record demand for IPOs in the US, but valuations of new public companies have recently reached the level they were seen during the dot-com bubble. Some analysts believe that the US IPO market is nearing completion. The June quarter has been the best of the last two decades in terms of IPOs in the US. 114 companies raised ૭ 20.50 billion in the last quarter, according to a report. The first quarter also saw record IPOs. In the United States, companies raised ૯ 21.50 billion in 2020, the highest amount since 2000. Due to this demand, valuations are currently at the level they were during the dot-com bubble two decades ago. In 2020, the value of IPOs of companies will be doubled. In the year 2000, this number was 21 times. Evaluations are currently declining but are still being maintained at historic levels, the report noted.

MUMBAI: Investors with huge money in hand are keen to invest in Indian companies, especially tech start-ups, in the post-Corona era. Analysts say investors have so far invested a record 20 billion in public and private equity deals so far this year. Global investors are flocking to online platforms in India with an eye on India's middle class people with cheap smartphones and easy internet connection. Some foreign investors are leaving China and looking to India because of the Chinese government's regulatory action against its technology companies, an analyst said. Although the economic recovery has been weakened by the serious impact of the second wave of Corona, India is seeing a surge in fundraising by e-commerce platforms and food delivery app operators. Private equity deals, which include placements and pre-IPO funding rounds, have raised 3 billion so far this year. In 2020, રુ 3 billion was raised through this route. Of the ૨૨ 6 billion in private equity deals in the

MUMBAI: Despite the government's announcement of relief, the country's largest bank, State Bank of India (SBI), has seen a 6 per cent increase in currency loan (small ticket size) NPAs in the fiscal year 2020-21. According to experts, the NPA of these loans was not likely to increase in the proposed period. This is because for this type of loan, the government also provided loan moratorium, loan restructuring as well as additional loan facility for working capital under the government's guarantee scheme. Even so, the NPAs of these loans have increased. Currency loans are business loans given to small businesses. This type of loan has seen an increase in NPAs over the last few years. If the NPAs of currency loans issued by the country's largest bank have increased, then it is natural that the NPAs of currency loans of other government banks may have increased. Banks have no option but to provide more losses in currency loans. In the book of State Bank in 2030-21, a t

(Gujarat News Office) MUMBAI: Gold and silver rallied in the Mumbai jewelery market today. World market news was encouraging. In the domestic currency market, the dollar's fall against the rupee today has had a positive effect on the jewelery market. Today, gold in the Ahmedabad gold and silver market once again touched Rs. 30,000 was reached. While the advance in silver was maintained. Rising bond prices in the global market and declining bond-treasury yields as well as declining stock markets in the US have led to speculation that the buying of funds in gold will continue in the global market. World gold prices rose by ૮૨૮ 15 to ૮૨૯ 16 an ounce from ૮૨૬ 16 to ૮૨૭ 16 an ounce. Global silver prices rose to 6.5 an ounce from ૫૬ 4.5 an ounce and લર 4.5 an ounce. As the domestic import cost went up, there were fewer sellers and more buyers due to rising prices in the jewelery market. However, new demand slowed due to increased headwinds. In the Ahmedabad jewelery market, gold pric

MUMBAI: US economic growth has grown at a quarterly rate of 1.50 per cent in the current calendar year as a result of the vaccination program and support from the Federal Reserve. This number is equal to the level of the previous number of cores. However, given the resurgence of corona cases in the United States, it remains to be seen whether the GDP growth rate will last. In the first quarter of 2021, the growth rate was 1.50 per cent, while in the second quarter it was slightly higher at 1.50 per cent, according to a statement issued by the US Department of Commerce. On an annual basis, the increase was 4.50 per cent. Rising consumption spending and strong business investment have brought GDP back to pre-Coro levels. The U.S. economic growth rate was negative in the second quarter of last year. It took two years for GDP to fully recover after the 2008 recession. However, the growth rate is weaker than economists expect. If Corona had not been affected and the economic growth rat

AHMEDABAD: Corona's influence in the US has waned and people are now busy. Public life is becoming normal here due to rapid vaccination. After almost a year of lockdown people are now stepping out and spending strongly. This has led to increased demand in the restaurant, retail and travel industries. To meet this demand, the service industry is offering workers ૫ 15 per hour, or Rs 1,100. The minimum wage in the United States is ૨૫ 4.5 an hour. However, many companies are now paying ૫ 15 an hour. The number is not just a coincidence, said Aaron Sojor, an economist at the University of Minnesota. It has been in demand for 10 years. Many workers are still earning less than ૫ 15 an hour. According to the Congressional Budget Office, 1.5 crore workers will not be able to reach this level even by 202. Julia Polk, a labor economist at ZipPrecure, said the number of job postings of કલાક 15 an hour has doubled since 2014. Many people have benefited from this. The last time the minimum

(Gujarat News Office) MUMBAI: Market players were stunned today as soybean futures advanced to a record high and prices rebounded by another six per cent in the Mumbai Oilseeds market. Today, soybean futures were quoted at Rs. September futures prices were significantly lower against August. The week saw a one-day bearish circuit on Monday, Tuesday and Wednesday after the bullish circuit took effect, followed by a six-six per cent bullish circuit on Thursday and Friday as prices rebounded. In Avik, futures prices jumped by about Rs 2,000 to a record high of Rs 10,000. Crop and planting directions were showing signs of recovery and there was a shortage of moving goods in the spot, market sources said. In the global market, palm oil futures prices in Malaysia fell by 12, 3, 4 and 5 points in various deliveries today, while palm product prices fell by ૫ 8 to ૧૦ 10 today. Total palm oil exports from Malaysia are expected to fall by about 3 to 4 per cent in July, world market analysts s

(Gujarat News Correspondent) MUMBAI: Index-based caution was observed in Indian stock markets this weekend as the DGCA extended the ban on international flights to India till August 31, 2021, in view of the sudden surge in positive cases in the country signaling the third wave of Corona transition. International crude oil prices also rose to લર 5 a barrel and Brent crude rose to ૭૬ 1 a barrel on the global front, signaling a resumption of erosion of US-listed Chinese stocks and the imposition of 10 to 5 per cent export duty on steel exports to China. The negative impact of the dollar reaching the surface was also seen in the markets today. Along with the softening in the markets of Asian countries, there was also a softening in the markets of European countries. The index-based market entered the negative zone today as the overbought position of funds in metal-mining stocks eased in Indian stock markets and banking-finance stocks remained profitable. Of course, the Sensex, Nifty-based

New Delhi, 30 July 2021 Friday Some high frequency indicators have reached the previous level of the epidemic and if the Indian economy grows in the range of 8 to 10 per cent, it could reach the previous level of the epidemic, experts said. The Reserve Bank of India expects the economy to grow at 7.5 per cent in the current financial year. The International Monetary Fund (IMF) on Wednesday slashed India's GDP growth forecast for FY 205 to 6.5 per cent from 18.5 per cent. At this rate, the Indian economy will be able to reach pre-epidemic levels. Chief Economic Adviser Krishnamurthy Subramaniam said that the GDP growth rate in the current financial year will not be significantly lower than the projected growth rate of 10.6 per cent. "At this rate, India will be able to make up for the loss in GDP during FY21. The extent to which there will be a permanent loss in production is a moot point, ”said Soumya Kanti Ghosh, group chief economic adviser at State Bank of India.

MUMBAI: Indian stock markets have been witnessing a surge in the presence of retail investors for some time now and trading volume through mobile is also on the rise. In the year ended June, the turnover of the cash market on the BSE has increased by 4.11 per cent to 17.12 per cent through mobile phone transactions. This is due to the huge influx of new investors. The number of young people among the new investors has been higher. In addition to the secondary market, the primary market is also booming at the moment, attracting young investors to the stock market, an analyst said. The attraction has also increased as such companies, which are prevalent among the youth, are coming into the primary market. Two crore new demat accounts have been opened since March 2020. The share of individual retail investors in cash market turnover on the NSE, which was 5 per cent in FY2050, increased to 9 per cent in FY201. The share of trading via mobile was 3%. The increase in the use of smartphon

MUMBAI: The Indian economy was on the brink of collapse after the first wave of August-September, when a second wave of Corona hit the entire economy. Economic activity has slowed and the economy is expected to slow down again, especially on people's incomes and savings. India's growth estimates have been slashed by several agencies, including the IMF, in view of the adverse effects of the epidemic. Despite good figures from all over, India's projected growth rate is being downgraded by large rating agencies and institutions like the IMF, and the now-released Business Confidence figures also indicate a rough market. The second wave of the Corona epidemic has pushed the Business Confidence Index (BCI) down 2.4 per cent in the first quarter of the current financial year compared to the previous quarter. BCI is prepared by research institute NCAER, Delhi. The services sector saw its quarterly decline in the BCI by 7.5 per cent, the NCAER said in a statement. It has declin

(Gujarat News Correspondent) MUMBAI: Luxembourg-based ArcelorMittal, the world's largest metal manufacturer, has announced an encouraging quarterly results for the end of June 2021, with steel demand in India expected to grow sharply this year and EBITDA at કોર્ 2.1 billion. Experts in Indian stock markets, along with global markets, today unveiled a billion-dollar stock buyback program, with experts storming metal-mining stocks. The BSE Metal Index jumped 1112 points in metal stocks. On the other hand, as China took steps to boost its economy, the stock markets of China and Hong Kong rose sharply in global markets today, and the recovery in markets in European countries also had a positive effect on the strength of futures in the US stock markets in Indian stock markets. Was. Although cases of corona transition in the world began to increase in the UK, Australia today saw an improvement in the market ignoring this negative factor. Following the good monsoon progress in India and

(Gujarat News Office) MUMBAI: Players were stunned as the soybean futures market bounced back today after a six per cent bullish circuit was implemented. Margin in soybean futures fell to 6 per cent from the peak on Wednesday, but the decline was due to deceptions and short-lived choices. The bullish grip was maintained. Soybean futures were quoted at Rs 715 per kg for August futures and Rs 5 per kg for September futures. In Madhya Pradesh, the spot price of soybean was Rs 2,000 to Rs 500 in Kiev and Rs 200 to Rs 500 for plant delivery. Meanwhile, soymeal prices rebounded in the Mumbai flour market today. The price of soymeal has gone up by Rs 1,200 to Rs 1,200 per tonne, jumping to the level of Rs 3,000 and was trading near Rs 500. Soyoil stocks rose by 30,000 tonnes to 960,000 tonnes, reaching a new seven-month high. In US agricultural markets, soybean meal was down 3 points in overnight trade, while soybean prices were up 12 points and soybean oil was up 3 points. Cotton prices

New Delhi: The central government has procured more than 90 per cent of the onion to make a buffer stock of 8 lakh tonnes under the Price Stabilization Fund for the season 2021-2, a government official said. The official said the government, through its nodal agency NAFED (National Agricultural Cooperative Marketing Federation of India), has procured 1.50 lakh tonnes of onions for buffer stock. The government's nodal agency NAFED started buying in the third week of April. In key procurement states like Maharashtra, Madhya Pradesh, Gujarat, Andhra Pradesh and Karnataka, earlier purchases were a bit slow due to mini lockdowns, while Maharashtra, the leading producer, saw maximum purchases, he said. "The government has procured onions harvested in the Ravi season 2020-21 (July-June)," the official said. Under the Price Stabilization Fund, government agencies procure onions and foodgrains from farmers at market prices. The official said the government has decided to in

(Gujarat News Office) MUMBAI: Gold and silver prices rebounded in the Mumbai jewelery market today. World market news was showing a rebound. In the US, the US Federal Reserve has warned that interest rates will not be raised immediately and that bond buying will continue. With the global market rising, the import cost was also going up and the jewelery market was going to reduce the new selling mood. Gold prices in the world market today rose from ૭૯૯ 15 to ૮ 1,200 an ounce to ૮૨૫ 12 to ૮૨૫ 15. Behind gold, global silver also rose by ૭૬ 4.5 to ૭૬ 6.5 an ounce today, from ૫૨ 4.5 to ૫૩ 7.5 an ounce. Meanwhile, gold prices rose to close at Rs 20,000 per 10 grams in Ahmedabad jewelery market today. In the Ahmedabad market, gold prices rose by Rs 200 to Rs 200 from Rs 2.50 and Rs 200 from Rs 6.50, while Ahmedabad silver prices rose by Rs 1,000 to Rs 2,000 per kg. The rise in crude oil prices by nearly half a per cent to ઉપર 6 a barrel today also had a positive effect on global gold pric

Washington: At the end of a two-day meeting of the Federal Open Market Committee (FOMC) of the US Federal Reserve, the committee decided to keep the benchmark interest rate close to zero. Corona cases are rising again in the US due to the Delta variant and inflation is also going up. Improvements in the economy depend on the status of the virus, but the impact of the public health crisis on the economy as a result of the vaccination program is diminishing, the committee said in a statement issued after the meeting. Economic activity and employment indices remain strong, but the sectors affected by the pandemic have not yet fully recovered, the statement said. Employment conditions in the US have not recovered as expected. "I want to see some strong employment figures before cutting the ખરીદી 150 billion monthly bond-buying program," Federal Chairman Jerome Powell told reporters after the meeting. The two-day meeting discussed how to proceed to reduce the bond buying prog

MUMBAI: Gold has been described as a chain of times of economic crisis for years and demand has remained stagnant despite the skyrocketing gold prices. According to the World Gold Council, gold demand in India during the April-June quarter rose by 12 per cent year-on-year to 3.1 tonnes, largely due to the low-base effect. Due to the Corona epidemic last year, all economic activities except essential activities were shut down in India during the June quarter due to a general lockdown. According to the Council's 'Gold Demand Trend - June Quarter 2021', the total demand for gold during the June quarter of 2030 was 6.5 tonnes. In terms of value, gold demand in the country grew by 6 per cent to Rs 3,610 crore during the June quarter from Rs 2,600 crore in the same period last year. However, gold demand fell by 3% in the June quarter compared to the March quarter due to the outbreak of the second wave of the Corona epidemic. The total demand for gold in India during the first

New Delhi, 29 June 2021 Thursday In a written reply to a question in the Lok Sabha on Thursday, state-level civil aviation minister VK Singh said Air India had identified 111 parcels of its assets to raise money. Of these, 106 parcel assets are in India and the remaining five are foreign assets. He said the parcel of 11 properties has 211 units, which are under sale. VK Singh said Air India has so far earned Rs 738 crore from the sale of 115 properties between 2015 and July 12, 2021. In addition, Air India gets Rs 100 crore annually from lease rental revenue. Notably, the central government is currently preparing to sell Air India. As per the 2018 decision of Air India Specific Alternative Mechanism (AISAM), Air India, which is bound to disinvest, is raising cash by selling its fixed assets to meet its debt. As on March 2019, the company had a debt of about Rs 60,000 crore. According to VK Singh, the Airports Authority of India (AAI) has earned Rs 30,069 crore by 2020-21 through i

MUMBAI: Indian stock markets have been witnessing a surge in the presence of retail investors for some time now and trading volume through mobile is also on the rise. In the year ended June, the turnover of the cash market on the BSE has increased by 4.11 per cent to 17.12 per cent through mobile phone transactions. This is due to the huge influx of new investors. The number of young people among the new investors has been higher. In addition to the secondary market, the primary market is also booming at the moment, attracting young investors to the stock market, an analyst said. The attraction has also increased as such companies, which are prevalent among the youth, are entering the primary market. Two crore new demat accounts have been opened since March 2020. The share of individual retail investors in cash market turnover on the NSE, which was 5 per cent in FY2050, increased to 9 per cent in FY201. The share of trading via mobile was 3%. The increase in the use of smartphones

New Delhi: In the solar power sector, Chinese companies are threatening to cut off supplies to Indian solar power companies. This is the second such case in four months. JA Solar, Trina Solar and Raisen Solar have threatened not to complete the supply agreement. He blamed the increase in the price of polycion. It is used as the main raw material for making solar panels. Indian power companies believe that Chinese companies are doing this to increase the price of solar panels. If Chinese companies cut off supplies, it could affect several gigawatt solar power projects being built in India. This has worried Indian companies like Avada Energy, Renew Power, Azure Power, O2 and Greenco. He believes his project could get stuck if the controversy escalates. India imports 90% of its solar panels from China. If Chinese companies based in Vietnam and Thailand are included, imports could reach 5 per cent. The rest is supplied by Indian companies. Indian companies have approached the Ministry

New Delhi: Keeping in view the growing craze of investors in various mutual fund schemes over the last few years, the market regulator SEBI has suggested setting up a platform where all schemes of all funds are available in one place. The new platform will be set up by SEBI and mutual fund companies by December 31. Once this platform is launched, it will be able to process investment (buy-sell) in all schemes of the fund industry. According to sources close to SEBI's scheme, the operation of the new platform will also be completed in different phases. In which other value added services including mobility will be provided to the investors. The creation of this platform will make it easier for investors to invest in mutual funds as well as information about their investments. This platform will see a big change in the fund industry. There will be interoperability on this platform between the Registrar of Mutual Funds and the Transfer Agent. In addition, the required documents h

Mumbai: The IPO market is booming right now. The boom that has been going on for a few months is expected to continue till the end of the current financial year. Paytm IPO will come in Diwali and then Life Insurance Corporation of India (LIC) will come up with the largest IPO in the last quarter. However, before that, by August 15, six companies will come up with their own IPOs. All this together can raise Rs 15,000 crore. At the same time, Baba Ramdev's interest could fetch Rs 200 crore through the Soya Follow-on Public Offer (FPO). So far in 2021, there have been 3 initial public offerings (IPOs). They have raised more than Rs 2,000 crore. This is the second best year in which more money has been raised. In 2016, companies raised Rs 4.15 crore through this medium. The 7th IPO of Rolex Rings will open on July 7. The company will raise Rs 21 crore. As the first issue in August, six companies are entering the market simultaneously. Divya International, Cartrade and Wind Glass Bio

(Gujarat News Office) MUMBAI: Silver prices continued to decline in the Mumbai jewelery market today. World market news was also showing softness. Gold prices opened lower in the Mumbai market today. Gold prices in the world market ranged from ૪ 1,305 to ૫ 1,305 an ounce and were reported to be trading at ૭૯૮ 15 to ૮ 1,200 today. Global silver prices fell by લર 2.15 an ounce to ૨ 2.50 an ounce from ૪૫ 4.5 to ૫ 2.50 an ounce and settled at ૭૫ 4.5 to ૭૬ 7.5 an ounce. Global silver fell to a four-month low today. Amid rising dollar index against various currencies in world markets and rising bond and treasury yields in the US, there was news of a sell-off in gold amid a look at the Federal Reserve meeting. Back in the global market, prices were also under pressure as more sellers and less buyers of precious metals remained under pressure. In the Ahmedabad jewelery market, silver fell by Rs 200 per kg to Rs 2,000 today. Ahmedabad gold prices were sluggish at Rs 3.50 and Rs 900 at Rs 4.

(Gujarat News Office) MUMBAI: Soybean prices broke a record high in the Mumbai oilseeds market today and prices in the spot and futures markets plunged sharply. The soybean futures market witnessed a series of bullish circuits recently, indicating a six per cent bearish circuit today. The market panicked as soybean futures increased margins. The highs also turned out to be a lucrative sell-off. Soybean futures fell to Rs 50 per quintal in August futures this evening. While September futures prices were quoted at Rs. In Madhya Pradesh, the spot prices of soybean were quoted at Rs 200 to Rs 500 and plant delivery at Rs 200 to Rs 500. Which had recently reached a high of Rs 10,000. In Madhya Pradesh today, soybean income was around 30,000 times and All India income was about 6,000 times. Meanwhile, soyoil futures fell by Rs 2.50 to Rs 151 this August. On the other hand, crude palm oil CPO August futures fell by Rs 2.50 to Rs 115. Mustard futures also saw a retreat. Soybean prices also

New Delhi: The weekly index of economic activities is softening for the second day in a row after a slight increase in new cases of corona last week. Power generation fell further last week and has been falling below the level of the same week in 2016. Railway freight figures are also declining. However, the movement of people continues to grow. Other indicators such as travel and emissions are also showing signs of slowing down in the second wave of Corona lockdowns. For the second week in a row, power generation has declined on a weekly basis due to cold spell in many parts of the country and declining demand for electricity due to irrigation. During the week ended Sunday, July 9, India generated 25 million units of electricity on a seven-day rolling average basis, down 2.4 per cent from the previous week. That's 3 percent more than this week of 2020. The year 2014 is used because it is the year before the Corona epidemic. The movement of people on an individual level stopped

(Gujarat News Office) MUMBAI: The dollar was trading lower against the rupee in early trade today. The rupee, which had been depreciating against the dollar for the past two days, came to a standstill today. However, the dollar index rose against various major currencies in world markets today. Market players were watching the Federal Reserve meeting in the US. At the time of writing, the market was watching the signs of inflation, interest rates and bond buying in the United States. Despite the bearish move in the Mumbai Stock Exchange, some sections of the market were surprised as the rupee appreciated against the dollar in the currency market today. Meanwhile, in the Mumbai currency market, the dollar touched a low of Rs 6.51 against the dollar in the morning trade of Rs 6.5 against the dollar in the morning. Were living. The dollar had lost 10 paise overall today. However, in the global market, the dollar index, which was 2.7, was at a low of 7.50 today and a high of 6.5 to 7.5

(Gujarat News Correspondent) MUMBAI: Indian stock markets were eroded for the second day in a row amid turbulent fluctuations in global markets amid reports of new forms of corona transition in the world, including Delta and Kappa, and cases in the UK, Australia and the Olympics in Tokyo. On the other hand, on the global front, the Chinese government's action against IT companies, sanctions measures, the negative impact of foreign investors, especially US funds, on Chinese, Hong Kong's assets, yesterday, after the negative impact on US stocks in global markets and futures in US markets. For the second day in a row, the Indian stock market saw a sharp rise in stocks behind Dr. Reddy's Laboratories. Despite the good progress of the monsoon in India and the positive factors in the decline in the transition to Coro, the quarterly results of Corporate India's end-of-June 2021 As a result, funds were seen selling higher today. Amid speculation of weakening demand for crude,

(Gujarat News Correspondent) MUMBAI: The Chinese government has taken action against IT companies and imposed sanctions on foreign investors, especially US funds, to control their investments in China and Hong Kong. The stock markets also crashed. With this negative factor from China now the UK. And as the third wave of corona cases resurfaced in countries including Australia, and reports of increased corona cases among the Olympics in Japan as well, the funds began to soften the bullish trade in the cautious boom. On the other hand, despite good monsoon progress in India and positive factors in the decline in Coro's transition, Corporate India's quarterly results for the end of June 2021 were weaker than expected by major companies and the funds saw a sell-off in funds today amid rising crude demand. Crude was close to ૭૪ 6 and Nymex crude was close to ૭ 21.8. Shares of healthcare-pharmaceuticals companies were heavily hammered by funds today and profit-booking in banking-fin

(Gujarat News Office) MUMBAI: The dollar closed higher in the Mumbai currency market today on the back of two-way fluctuations. The fall in the stock market also had an impact on the rupee's value in the currency market today, market analysts said. The two-day meeting of the Federal Reserve in the United States began on Tuesday and will end on Wednesday (today). The dollar is likely to appreciate in the global market if there are indications of a reduction in bond buying, analysts said. Meanwhile, in the Mumbai currency market, the dollar opened at Rs 4.5 in the morning with a low of Rs 7.5, after which it touched a low of Rs 4.5 and a high of Rs 4.5 to close at Rs 4.5. The dollar rose four paise today. Meanwhile, in global markets, the dollar index touched a low of 7.5 today and a high of 6.5 to 7.5. The dollar index rose 0.15 per cent today. In the Mumbai currency market, the British pound opened at Rs 105.5 against the rupee today. The pound's price remained soft overal

(Gujarat News Office) MUMBAI: Soybeans were present in the Mumbai oilseeds market today and record highs were witnessed in the futures market. In the soybean futures market, a four to six per cent upper circuit was implemented today following a new price hike. For the last three days in a row, futures have been in high circuits, market analysts said. Soybean prices have risen sharply on the back of sluggish supply and unfavorable weather conditions. Players were also stunned by the record rise in futures prices today despite indications of increased margins in the futures market. Soybean futures prices were higher today at Rs 7 in Kiev and Rs 4 in August. Meanwhile, soybean growers had received news that spot prices had risen to a high of Rs 10,000. Soyoil futures, however, were trading at Rs 1,305 this evening, down Rs 2.50 from August futures. In the Mumbai spot market, soyoil prices were quoted at Rs 150 for digam and Rs 1,310 for refined. In Malaysia, meanwhile, palm oil prices

Bilateral bounce in global gold amid Fed meeting in America (Gujarat News Office) MUMBAI: Gold and silver prices rose sharply in the Mumbai jewelery market today on a bearish reaction. World market news was showing a sell-off. As the US Federal Reserve meeting begins on Tuesday and ends on Wednesday, world market players have been keeping a close eye on signs of a reduction in bond buying, inflation and interest rates. World gold prices rose from વધી 1,305 to ૭ 1,305 an ounce to ૭૯૭ 15 to ૭૯૮ 12 an ounce and rose again this evening to ૪ 1,308 to ૫ 1,305. Gold was followed by global silver at ૩૭ 6.15 an ounce, up from ૩૭ 7.5 an ounce and લર 6.15 an ounce. Meanwhile, domestic demand was also on the rise in the jewelery market today as new demand slowed down. In the Ahmedabad jewelery market, gold prices fell by Rs 200 per 10 grams to Rs 200 from Rs 4.50 and Rs 200 from Rs 4.50, while Ahmedabad silver prices fell by Rs 300 to Rs 200 per kg. Platinum prices were hitting એજ 1,050 to ૭

Ahmedabad: The local mutual fund industry, which is worth about Rs 2 lakh crore, may have to invest thousands of crores of rupees in its own schemes under the new SEBI rules. The SEBI board approved the rules last month. At present, fund companies have to invest a maximum of Rs 50 lakh in all schemes. The SEBI board has approved the removal of the Rs 20 lakh limit to link the interests of asset management companies with thousands of unit holders. Mutual fund schemes have to be invested according to the risk involved. The risk condition will be according to the current draft of the risk-o-meter. According to SEBI, AMC will have to invest 0.06 per cent in low-risk schemes and 0.15 per cent in high-risk schemes, which are usually equity schemes. 150 crore compared to Rs. SEBI's Expert Group has proposed investments ranging from 0.07 per cent to 0.5 per cent. But the rule would require the funds to invest about Rs 4.5 crore, five times the current total investment. SEBI has initiall