Market and Business News

AHMEDABAD: The long-awaited sell-off or correction has taken place in the Indian stock market. On Friday, the Sensex was down 17.6 points at 7,109.15 and the Nifty was down 203.50 points at 12,09.8. With today's decline, the biggest weekly decline since January has been in the Indian stock market, with both major stocks closing at three-month lows. However, even in the face of this decline, retail customers and domestic funds are buying and foreign institutions are selling out of India. Is. Mutual funds have been bought for Rs 4,606.5 crore against this sale. Most surprisingly, retail customers are also buying and their purchases have intensified over the past month. Retail customers made purchases worth Rs 2,50.10 crore during the period. Buy at every drop, this purchase is taking place amidst the advice that there is no room for correction in the market now. The way in which the market has seen a decline may lead to panic among retail consumers, which could have a major impact

Index-based crash: Traders' wealth erodes by Rs 3.5 lakh crore (Gujarat News Correspondent) MUMBAI: A new African corona variant has been found in South Africa after the Delta spread at an even more alarming rate as the world-shaking coro epidemic re-emerges. Today was Black Friday, with markets in many countries, including India, collapsing amid a flurry of global markets, with renewed concern for the global economy as tourists began to ban tourists from South Africa. Banking-Finance, Consumer Durables, Automobiles, Oil-Gas, Power-Capital Goods in Indian Stock Markets IT-Software Services, Technology, Metal-Mining, FMCG, Realty Stocks At the end of Khabki, it fell by 14.5 points and closed at 3109.18. The US dollar had gained 6 paise to close at Rs 4.5 against the rupee today. Black Friday: Sensex loses intra-day 2000 level to 5 Trading started today with the expected softness. The Sensex opened 30 points gap below the previous close of 8.05, hitting a low of 7.5. Due to hamme

(Gujarat News Office) MUMBAI: The Mumbai currency market today witnessed a sharp rise in the value of the dollar against the rupee. The rupee also depreciated in the currency market today amid strong trading in the stock market, market sources said. After opening at Rs 4.5 this morning, the dollar rose to a low of Rs 4.5 and closed at Rs 4.5, ending the day at a high of Rs 4.5, close to Rs 4. Were. The dollar had gained 3 paise today. The outbreak of the new corona virus in South Africa has had a knock-on effect on the domestic currency market, however. The global dollar index, which had a low of 7.5, fell to a low of 7.5 and a low of 0.7, with a fall of 0.6 per cent. Meanwhile, at home, the British pound also rose by 3 paise to close at Rs 4.5 against the rupee today. The European currency, the euro, touched a high of Rs 4.5 today and closed at Rs 4.5. The euro rose 21 paise. Japan's yen rose 1.71 per cent against the rupee today, while Chinese currency rose 0.4 per cent agai

(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai Oilseeds market today. The world market was soft. Following the fall in world crude oil prices, palm oil futures in Malaysia fell by 3 points. There was a new demand in the Mumbai market today. In the Mumbai spot market, the price of 10 kg of cingulum oil fell by Rs 150 while that of cottonseed oil fell by Rs 15. On the Saurashtra side, prices of cingulum oil fell to Rs 1,200 and 15 kg from Rs 4,050 to Rs 6,050 per kg, while cotton washed prices fell to Rs 1,200. In the Mumbai market, the price of imported palm oil fell to Rs 115. Crude palm oil CPO Kandla was down by Rs 1,150. Meanwhile, in the futures market this evening, the CPO price fell by Rs 15.50 to Rs 1112 while the soyoil futures price fell by Rs 19.50 to Rs 19. Soybean futures were quoted at Rs 5 per kg today. While castor futures were up by Rs 5 to Rs 50. Mumbai spot castor and castor oil prices were showing a slight

MUMBAI: The new Covid variant found in South Africa has swayed the minds of investors in most of the global markets. Analysts are advising that investors should adopt a wait-and-see policy in the current scenario and not rush to buy stocks at a lower price. As winter approaches rapidly in western countries, there is a risk of a resurgence of corona, which is dangerous for the market, analyst Christopher Wood noted in his weekly note. The new variant could lead to re-lockdowns in various nations, which could hamper economic recovery. Many Asian markets, including India, were hit hard today. We will keep an eye on the trend in December, when corona cases have risen sharply in the US, Germany, France, Russia and the UK. The period till the end of December is very dangerous as the movement of people will increase due to the festive season in December. An increase in the movement of people could lead to a third wave of Corona in India, according to a report released by a stockbroking h

MUMBAI: Investment in the Indian capital market through participatory notes (P-notes) rose to Rs 1.08 lakh crore at the end of October, from a three-month high. Foreign capital investors who are not registered in India can invest in the capital market through foreign institutional investors in the country. However for this investment he has to go through some processes. At the end of March 2016, the investment through P-notes stood at Rs 1.08 lakh crore. P-notes investment increased by Rs 2,000 crore in October. Investments in equities fell by Rs 2,000 crore, while investments in debt instruments through P-notes declined by Rs 2,000 crore. Long-term interest rates are now at an all-time low and inflationary pressures will force the Reserve Bank to raise interest rates in 203, prompting FPIs to shift from lending instruments to equities, an analyst said. Out of the P-Notes investments of Rs 1.04 lakh crore at the end of October this year, Rs 216 crore was in equities, Rs 3 crore in

Mumbai: The country's crude import bill is expected to cross last year's level in the current month. India's crude oil import bill has risen due to tightening of crude oil prices and rising demand. In the ten months to the end of October, the average price of crude oil had crossed 80 a barrel. India's crude import bill is likely to be the highest in the last three years this year due to high crude oil prices. In October, the average price of crude oil in India was 2.11 per barrel. India's crude oil import bill stood at ૨ 2.50 billion in 2020-21, up from. 21.10 billion in October of the current financial year. In the last financial year, India imported a total of 127 million tonnes of crude oil. This figure has reached 114 million tonnes so far in the current financial year. India's average import price of crude oil in the first seven months of FY2009-21 was ૨૪ 4.5 per barrel, which has risen to ૭ 61.8 per barrel in the current financial year. Higher crude o

(Gujarat News Correspondent) MUMBAI: The November trend in derivatives came to an end today on the back of a sharp rise in funds in Reliance Industries. Funds bought heavily today in shares of Reliance Industries to curb index-based erosion, along with shares of IT-software services stocks led by Infosys and stocks of selected healthcare-pharmaceuticals companies. The funds also boosted consumer durables stocks as well as oil and gas stocks. On the global front, with the resumption of Corolla transition in countries including Germany, Austria, France and the prospect of a lockdown, the global economy is being shaken by rising inflation. Crude oil prices saw a modest decline in the positive effect of the stock announcement. With the alarming rise in corona cases in Germany, the death toll has crossed one lakh and global concerns are mounting. At the end of the day, the Sensex was up 3.01 points at 3.05 and the Nifty spot was up 191.60 points at 12.5. Crude oil Brent was down 3 cents at

MUMBAI: Eighty-one per cent of Indians have little or no confidence in cryptocurrencies, with only 1 per cent having high confidence, while a recent survey found that 51 per cent of Indians want to have their own digital currency. In a survey conducted by a private firm, 5 per cent of respondents said the government should not legalize cryptocurrencies but suggested that the tax should be levied the way digital assets are taxed abroad. 3% of people demanded that legal currencies be taxed in India. The survey, conducted from November 8 to 9 in six districts of the country, was attended by more than 3,000 people. The survey was conducted amid widespread debate in the country over cryptocurrency trading. However the government has decided not to allow private cryptocurrencies. Nine percent of those surveyed said their family members did not invest or trade in cryptocurrencies. When asked about the reliability of cryptocurrencies, 1% said they had high confidence in it, 19% said it wa

MUMBAI: Investment in the Indian capital market through participatory notes (P-notes) rose to Rs 1.08 lakh crore at the end of October, from a three-month high. Foreign capital investors who are not registered in India can invest in the capital market through foreign institutional investors in the country. However for this investment he has to go through some processes. At the end of March 2016, the investment through P-notes stood at Rs 1.08 lakh crore. P-notes investment increased by Rs 2,000 crore in October. Investments in equities fell by Rs 2,000 crore, while investments in debt instruments through P-notes declined by Rs 2,000 crore. Long-term interest rates are now at an all-time low and inflationary pressures will force the Reserve Bank to raise interest rates in 203, prompting FPIs to shift from lending instruments to equities, an analyst said. Out of the P-Notes investments of Rs 1.04 lakh crore at the end of October this year, Rs 216 crore was in equities, Rs 3 crore in

Mumbai: The country's crude import bill is expected to cross last year's level in the current month. India's crude oil import bill has risen due to tightening of crude oil prices and rising demand. In the ten months to the end of October, the average price of crude oil had crossed 80 a barrel. India's crude import bill is likely to be the highest in the last three years this year due to high crude oil prices. In October, the average price of crude oil in India was 2.11 per barrel. India's crude oil import bill stood at ૨ 2.50 billion in 2020-21, up from. 21.10 billion in October of the current financial year. In the last financial year, India imported a total of 127 million tonnes of crude oil. This figure has reached 114 million tonnes so far in the current financial year. India's average import price of crude oil in the first seven months of FY2009-21 was ૨૪ 4.5 per barrel, which has risen to ૭ 61.8 per barrel in the current financial year. Higher crude o

Ahmedabad: The wealth of the country's and Asia's richest men Mukesh Ambani and Gautam Adani is currently under discussion. As rich, Ambani is ahead in wealth but in one year, Adani kills the ground in terms of wealth growth. According to the Bloomberg Billionaire Index, Gautam Adani's wealth has grown by 3 billion annually, while Mukesh Ambani's wealth has grown by only ૩ 12 billion. Last year, Mukesh Ambani had a net worth of 4.5 billion while Gautam Adani had a net worth of 2.1 billion. On Wednesday, through Gautam Adani's six listed companies, his assets (as a promoter in the total market value of the companies) were worth Rs 3,01,8 crore, while Mukesh Ambani's assets were worth Rs 2,6,8 crore. So the difference between the two was only Rs 4.5 crore. Mukesh Ambani has a net worth of Rs 1,11,60 crore more than Gautam Adani after the companies' shares fluctuated on Thursday. Gasification assets rearrangement scheme MUMBAI: As a result of more than one

MUMBAI: The non-performing assets (NPAs) of non-banking finance companies (NBFCs) are expected to increase by 120 to 150 basis points in the current financial year, from 3.50 per cent to 8.50 per cent, due to stricter standards and upgrades for loans under stress. In the case of housing finance companies, the NPA is expected to rise by 20 basis points to 8.50 per cent, according to an ICRA report. The report takes into account the risk of new NPAs coming from revised standards and restructured books. At the end of March 2012, the gross NPA of NBFCs was 2.50 per cent, while for housing finance companies, the figure was 5 per cent. In addition, NPA accounts can be upgraded to standard assets only after each outstanding amount has been repaid, the report said. Limitations in upgrading and stricter NPA standards will increase NPAs.

(Gujarat News Office) MUMBAI: Gold and silver prices fell and rose again in the Mumbai jewelery market today. Gold prices fell in global markets today after the global dollar index rebounded. Gold prices in the world market today were quoted at થી 150 to ૭૯ 151. Gold was followed by global silver at ૬૪ 4.5 to ૬૫ 6.5 an ounce today. In the Ahmedabad jewelery market, silver prices fell by Rs 200 per kg and touched a high of Rs 2,000 again today. Andavad was hitting a low of Rs 900 per 10 grams and Rs 200 per head at Rs 4.50. Platinum, meanwhile, traded lower at ૯૯૯ 8,000 to ૧ 1,000 an ounce and palladium at ૮૮૪ 12-13 an ounce. Meanwhile, gold prices in the Mumbai jewelery market today closed at Rs 5, excluding GST, from Rs 4.50 to Rs 5. While prices with GST were 3% higher. Meanwhile, the country is considering raising the GST rate on gold from 5 per cent to 5 per cent. As a result, Ajanpo has also appeared in the jewelery market. The government is talking of imposing a 5 per cent GS

(Gujarat News Correspondent) MUMBAI: The November trend in derivatives came to an end today on the back of a sharp rise in funds in Reliance Industries. Funds bought heavily today in shares of Reliance Industries to curb index-based erosion, along with shares of IT-software services stocks led by Infosys and stocks of selected healthcare-pharmaceuticals companies. The funds also boosted consumer durables stocks as well as oil and gas stocks. On the global front, with the resumption of Corolla transition in countries including Germany, Austria, France and the prospect of a lockdown, the global economy is being shaken by rising inflation. Crude oil prices saw a modest decline in the positive effect of the stock announcement. With the alarming rise in corona cases in Germany, the death toll has crossed one lakh and global concerns are mounting. At the close of the day, the Sensex was up 3.01 points at 3.05 and the Nifty spot was up 191.60 points at 17.8. Crude oil Brent was down 3 cents

Mumbai: The country's crude import bill is expected to cross last year's level in the current month. India's crude oil import bill has risen due to tightening of crude oil prices and rising demand. In the ten months to the end of October, the average price of crude oil had crossed 80 a barrel. India's crude import bill is likely to be the highest in the last three years this year due to high crude oil prices. In October, the average price of crude oil in India was 2.11 per barrel. India's crude oil import bill stood at ૨ 2.50 billion in 2020-21, up from. 21.10 billion in October of the current financial year. In the last financial year, India imported a total of 127 million tonnes of crude oil. This figure has reached 114 million tonnes so far in the current financial year. India's average import price of crude oil in the first seven months of FY2009-21 was ૨૪ 4.5 per barrel, which has risen to ૭ 61.8 per barrel in the current financial year. Higher crude o

Ahmedabad: The wealth of the country's and Asia's richest men Mukesh Ambani and Gautam Adani is currently under discussion. As rich, Ambani is ahead in wealth but in one year, Adani kills the ground in terms of wealth growth. According to the Bloomberg Billionaire Index, Gautam Adani's wealth has grown by 3 billion annually, while Mukesh Ambani's wealth has grown by only ૩ 12 billion. Last year, Mukesh Ambani had a net worth of 4.5 billion while Gautam Adani had a net worth of 2.1 billion. On Wednesday, through Gautam Adani's six listed companies, his assets (as a promoter in the total market value of the companies) were worth Rs 3,01,8 crore, while Mukesh Ambani's assets were worth Rs 2,6,8 crore. So the difference between the two was only Rs 4.5 crore. Mukesh Ambani has a net worth of Rs 1,11,60 crore more than Gautam Adani after the companies' shares fluctuated on Thursday. Gasification assets rearrangement scheme MUMBAI: As a result of more than one

MUMBAI: The non-performing assets (NPAs) of non-banking finance companies (NBFCs) are expected to increase by 120 to 150 basis points in the current financial year, from 3.50 per cent to 8.50 per cent, due to stricter standards and upgrades for loans under stress. In the case of housing finance companies, the NPA is expected to rise by 20 basis points to 8.50 per cent, according to an ICRA report. The report takes into account the risk of new NPAs coming from revised standards and restructured books. At the end of March 2012, the gross NPA of NBFCs was 2.50 per cent, while for housing finance companies, the figure was 5 per cent. In addition, NPA accounts can be upgraded to standard assets only after each outstanding amount has been repaid, the report said. Limitations in upgrading and stricter NPA standards will increase NPAs.

(Gujarat News Office) MUMBAI: Gold and silver prices fell and rose again in the Mumbai jewelery market today. Gold prices fell in global markets today after the global dollar index rebounded. Gold prices in the world market today were quoted at થી 150 to ૭૯ 151. Gold was followed by global silver at ૬૪ 4.5 to ૬૫ 6.5 an ounce today. In the Ahmedabad jewelery market, silver prices fell by Rs 200 per kg and touched a high of Rs 2,000 again today. Andavad was hitting a low of Rs 900 per 10 grams and Rs 200 per head at Rs 4.50. Platinum, meanwhile, traded lower at ૯૯૯ 8,000 to ૧ 1,000 an ounce and palladium at ૮૮૪ 12-13 an ounce. Meanwhile, gold prices in the Mumbai jewelery market today closed at Rs 5, excluding GST, from Rs 4.50 to Rs 5. While prices with GST were 3% higher. Meanwhile, the country is considering raising the GST rate on gold from 5 per cent to 5 per cent. As a result, Ajanpo has also appeared in the jewelery market. The government is talking of imposing a 5 per cent GS

(Gujarat News Office) MUMBAI: New demand in the Mumbai oilseeds market was slow today. Prices remained sluggish. However, in the futures market, soybean futures rebounded by 3% at one point today and the bullish circuit was enforced again. There was news that soybean growers were hesitant to sell to farmers. In the Mumbai spot market, the price of cingulum oil is Rs.150, cottonseed oil is Rs.150, mustard is Rs.1210 and ref. CPO Kandla was priced at Rs. On the Saurashtra side, prices of cingulum oil fell from Rs 1,200 to Rs 15 per kg, Rs 1,100 per 15 kg and Rs 1,610 per kg of washed cotton. In the evening trade, CPO prices were at Rs 1,150 and soyoil futures at Rs 19.50. In Malaysia, meanwhile, palm oil futures were at a 6-point pulse today, while palm product prices were down ડો 10. There was news that palm oil futures bounced back from a high of 8 to 20 points at one point today. At home today, the price of palm oil in various deliveries at Mundra-Hazira was Rs. Soybean income in