Around the market.

Silver rose more than 10 percent in October

This month, silver prices touched a high of Rs 73,600 on the MCX on October 20, after touching Rs 65,666 per kg on October 3. While currently the price is around Rs.72 thousand per kg. If seen in this way, the price of silver has increased by 10 percent after October 3. The price of silver in the international market is currently around 23 dollars per ounce. In May this year, the price went above $25 per ounce. While in 2011, it made a high level of 49.81 dollars per ounce. October has been a good month for silver so far, with demand for the white metal rising as a safe-haven investment option amid rising geo-political tensions in the Middle East amid Israel's attacks on Hamas. Efforts to get the economy back on track in China have also supported prices. The industrial demand for this white metal has increased significantly in the last few years. About 60 percent of the world's silver is used in the industrial sector, while the remaining 40 percent goes into investment. China's role on prices has been important. Because China is not only the second largest consumer of silver but also one of its top producers.

Investable capital of EPFO ​​almost doubled in 5 years

Total invested capital of Employees Provident Fund Organization (EPFO) increased by 16.7 percent in FY23 to Rs. 21.3 lakh crore which in FY22 is Rs. 18.3 lakh crores. The total investable capital of the Social Security Institution has almost doubled in the last 5 years. The total capital in 2018-19 was Rs 11.1 lakh crore. A total of Rs. 21.3 lakh crore, employee provident fund share of Rs. 13.04 lakh crores. After that, Employees' Pension Fund amounts to Rs 7.7 lakh crore and Employees' Deposit Insurance Scheme amounts to Rs 41,062 crore. During the financial year, EPFO ​​invested most of its capital in State Development Loans (38.6 percent), which state governments use to finance their fiscal deficits. After this, EPFO ​​has invested 17.78 percent in central government securities. The institution has 15.5 per cent investment in corporate bonds of public sector enterprises and 10.1 per cent in central government public accounts. The number of subscribers has increased over the past few years, which has led to an increase in the income of the organization. This profit can be used to pay more interest to 7 crore customers.

The competitiveness of India's basmati rice in global markets will increase

The government has reduced the minimum export price (MEP) of basmati rice from $1,200 per tonne to $950 per tonne. The government has taken this decision keeping in mind the high prices affecting exports. Due to the increase in MEP of Basmati rice, some exporters have stopped buying Basmati from farmers and due to this the price per quintal in the open market has gone up to Rs. 300 to Rs. It has reduced to 400. Exporters demanded that the MEP be reduced to Rs. 900 to Rs. 1,000 per tonne. However, the MEP price is only $30 per tonne compared to the FOB (Free on Board) price, which is a marginal increase for international buyers to buy. The minimum export price of basmati rice has been reduced. It is a welcome step. This will increase the competitiveness of India's basmati rice in global markets.

15,000 crore will be raised through IPO

Around 12 companies will launch their IPOs in the next month at Rs. 15,000 crore is being prepared to collect. Despite market volatility and price volatility, these companies are aiming to launch their IPOs, with some companies planning to launch IPOs before Diwali on November 12. Coming soon are Tata Technology, MamaEarth, ASK Auto, Protis eGov Technology, FedBank Fi. Companies like Savas, ESAF Small Fi.Bank, Flair Wrightig Ind. and Credo Brand Marketing are also in the process of announcing their IPO dates. Tata Technology is going to enter the stock market in the second or third week of November. This is the Tata Group's first IPO in nearly two decades.

Services of consultants will be engaged for investment treaties

The Department for Promotion of Industry and Internal Trade (DPIIT) has initiated the process of engaging the services of consulting firms to indicate areas where International Investment Treaty rules are not applicable. This will help India to 'reserve policy space' by demarcating such areas while making commitments in the body of the treaty. These treaties can be unilateral investment treaties, bilateral investment treaties (BITs) or investment chapters (ICs) under free trade agreements. DPIIT is the nodal department for foreign direct investment policy formulation and investment appraisal. Therefore, it takes forward the discussion regarding investment in non-service sectors in Free Trade Agreements (FTAs). Investment liberalization chapters contain 'reserved lists' which allow host countries to restrict selected sectors/activities. The appointment of the consultant comes at a time when India is negotiating trade agreements with several countries and various investment agreements.

Investors should avoid floating rate savings bonds

Retail investors may avoid investing in floating rate savings bonds as these particular bonds have the potential to generate profits only in a rising rate environment, market insiders said. The Reserve Bank of India has allowed the purchase of floating-rate savings bonds through 'retail direct'. Retail Direct is an online portal that enables investors to buy government securities. Floating-rate bonds are issued by the government and have a maturity of seven years from the date of issue. The Reserve Bank is offering an interest rate of 8.05 percent, which is 35 basis points higher than the National Savings Certificate rate.

Cumin prices likely to fall

The price of cumin seeds has fallen drastically. Cumin has become cheaper by about 24 percent this month. Its price has come down from 47 thousand rupees. According to market experts, its price may come down to 40 thousand rupees in the future. Since cumin is cheaper, its sowing is likely to increase. Along with this, the export demand of cumin is also slowing down. On October 3, the first trading day of the month, the November contract of cumin on commodity exchange National Commodity and Derivatives Exchange (NCDEX) settled at Rs. 61,650 was the day's high. Which is currently Rs. 46,900 per quintal was reached. Thus, the futures price of cumin this month has fallen by Rs 14,750 per quintal, or about 24 per cent. November contract on September 8 Rs. It reached a high of 66,880. The futures price of cumin rose from this level to around Rs. 20 thousand have decreased. Cumin prices have been high this year and the weather is also favorable at this time. So there is a possibility of more planting of cumin seeds this year. Due to which the production of cumin is also expected to increase.