Market and Business News

Impending correction in Nifty in case of break of important level amid concerns over Japanese yen Mumbai: At the end of the week, the trend of softness continued in the Indian stock markets. Global markets saw a cautious two-way swing today after yesterday's discount after the US hiked interest rates. But funds remained cautious for the second day in a row, with the Indian Nifty 50 index forecasting a major correction-downtrend in the event that the yen loses its key support level of 137-138 against the US dollar as the Japanese yen stalls as the Bank of Japan loosens its grip on global yields. Index based bullish trading eased. The market remained in the negative zone as funds booked profits in FMCG, metal-mining, power, capital goods, healthcare-pharmaceuticals stocks against selective attraction in banking-finance, IT stocks. In particular banking-finance stocks Bajaj Finserv, HDFC Bank, Axis Bank, IndusInd Bank as well as IT stocks HCL Technology, TCS, Infosys, Tech Mahindra

- Commodity Current - Jayavadan Gandhi Nowadays, the severe inflation of food items has broken the back of the people. After pulses and vegetables, spices, edible oils and grain markets are also booming, and the situation has become a nightmare for the government. Due to the non-stop boom in cumin for the past six months, the prices in the retail market have been rising to a high of Rs 800 per kg. Due to which cumin is at an all-time high level, turmeric is at a high level of the last 12 years and coriander is also at a record level of the last five-six months, the whole matter is slowly coming under doubt. Whether the fundamentally strong position of the current market is responsible for the continuous boom in the spice market or whether speculator groups are active have become debatable questions. Whether spices are not included in the government's list of essential commodities or whether the government is turning a blind eye has become a subject of inquiry. Along with cumin, m

- Sales Tax - Soham Mashruwala There is a lot of controversy regarding common services and cross charging under the GST law. This is a major disaster for entities that have GST registration numbers in more than one state. It would be a great relief if the officers of the account come out of the tendency to treat every trader as if they are a victim and collect taxes. ASMT-10 is currently given by the government and raises issues as per mind. Circular No. 199/11/2023- GST dated 17-7-2023 dated 17-7-2023 for units having Kher Raja-Waja and Bandra Multi State GSTIN has given certain clarifications reversing the advance ruling in Columbia Esya Hospital. This matter is discussed in today's article. Appendix I Schedule I of the GST Act provides that even when no consideration is paid, certain specific transactions will be treated as supply where the same entity is registered in more than one State and is included in the Distinct Person as per Section 25. Thus, when the head office is

- Antenna - Vivek Mehta - Borrowers will get the benefit of subsidies under all central government schemes: Agriculture Bank has demanded 5 percent interest subsidy even on medium-long term loans. It is being planned to license the agricultural bank which has more than 176 branches in 17 districts of Gujarat and start normal banking from it. At present, agriculture does not have a bank license. They are allowed to lend and take deposits under special provisions. But she cannot open a current account or a savings account. But the central government is trying to expand the spectrum of co-operative banks to get them licensed and start normal banking. After getting the license he can open current account and saving account. Also can do short term financing. Necessary changes in the law have also been made for this. Not only Gujarat, the government is planning to make eligible agricultural banks operate like cooperative banks in all the states of the country. . A representation has been

The BSE index (close 66684.26 on 21-07-23) is bullish from a low of 62867.53. Currently, the 12 day average is 66110.38, 48 day average is 63976.56 and 200 day average is 61125.69. Daily and weekly MACD are bullish. Shows overbought position on daily, weekly as well as monthly basis. If above 67191 goes up to 67620 then possibility of up to 68050. Lows below 66533 and 66200 to sense weakness. The monthly expiry is this week. Last week also said the market is in a risky phase. Bank of India (closing price Rs.84.45 on 21-07-23) is bullish from a bottom of 69.50. Currently, the 12-day average is 78.34, the 48-day average is 75.80, and the 200-day average is 71.72. Daily and weekly MACD are bullish. Overbought on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 87 Kudav, 93 and 101 are considered important levels. Above which can fluctuate up to 104, 115, 126 135. 79 is considered support below 81 in the low. Kotak Mahendra Bank (closing price Rs.

A total turnover of Rs 4,89,034.47 crore was recorded in 56,70,479 trades in various commodity futures, options and index futures on the country's leading commodity derivatives exchange during the week from July 14 to 20, with commodity futures accounting for Rs 91 crore. ,118.4 crores and the share of options was Rs.397713.8 crores. In precious metals futures, 7,68,883 deals worth Rs.55,224.76 crore were transacted in gold and silver. Among gold futures, gold August futures opened at Rs.59,264 per 10 grams at the beginning of the week, touched an intra-day high of Rs.59,984 and a low of Rs.58,939 during the week, ended the week up by Rs.313 at Rs.59,552. had arrived Against this, Gold-Guinea July contract rose by Rs.117 per gram to Rs.48,030 and Gold-Petal July contract rose by Rs.9 to Rs.5,914 per gram. Gold-mini August futures rose by Rs.274 to Rs.59,459 per 10 grams. Among silver futures, silver September futures opened at Rs 75,480 per kg at the start of the week, touched a

- Industrial guidance - Dhiru Parekh Aroma chemicals are one of the characters important constituents and properties of aroma. Aromas are attention-grabbing, nominative, distinctive flavors and fragrances. It is used in flavor compositions such as vanillin, citronilla and its esters, zeraniol / nerol and its esters, linalool and its esters, L-menthol and terpineol and its esters. Aroma chemicals are used to make fragrances. A growing word population and increasing food farming will require large amounts of labor and space. For large production, the need for natural sources, such as flowers, and labor costs can be very important. Very important oils like sandalwood or its trees are in very small quantities. And along with it comes political reasons. Currently synthetic varieties are available from reasonable sources through petrochemicals. In which the following four products are classified for Aromatic Chemicals, Flavors and Fragrances in Aero. including venzinoides, turpentine oil

Image Source: Wikipedia New delhi date. 28 July 2023 Friday With the beginning of every new month comes some changes. Some similar changes are going to happen in August as well, which will have a direct impact on our pockets and monthly budget. The month of July is about to end. The month of August is going to start after four days. From August 1, some rules related to rupees are going to change. Which has a direct impact on your pocket. LPG rules are subject to change LPG prices are fixed by the government at the beginning of every month. Government oil companies can change the price of LPG cylinders as well as commercial cylinders. These companies change the price of LPG on 1st and 16th of every month. Apart from this, the price of Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) may also change. Bank will be closed for 14 days in August Many festivals are coming up next month. There are many bank holidays in the month of August. Banks will be closed for a total of 14

Mumbai: In the first quarter of the current financial year, the net profit of the private banks of the country has increased by 37 percent year-on-year to Rs 37683 crore. This has been possible due to Net Interest Income (NII) and strong credit growth. The NII of private banks has increased by 26.40 percent to Rs 80,404 crore from the results of fifteen listed banks announced so far. Interest income has increased due to increase in lending rates. In the last financial year, the Reserve Bank has increased the interest rate by 2.50 percent to 6.50 percent. Apart from this, loans have also seen a year-on-year increase of 16 percent in the June quarter. Banks have also benefited from the repricing of loans that have been repaid earlier. Along with the increase in lending rates, banks have been forced to increase deposit rates as well. A 13.20 percent increase in deposits has been seen in the June quarter. Lenders have been forced to increase interest rates on deposits to increase liqui

Mumbai: Venture capital (VC) funding in fintech appears to have burst as a result of the decline in global fintech funding from its 2021 highs. According to a report by S&P Global Market Intelligence, funding in fintech fell by 33 percent to $63 billion in 2022. The picture for the first 6 months of 2023 is even worse, with fintech VC funding remaining at $23 billion. These figures reflect the state of funding in fintech startups. Financial technology was considered the cause of the VC bubble of 2021. Fintech companies and VC funds to fund them exploded during the Corona period. But these bubbles seem to have burst now, the report noted. However, there are still many fintech companies that can survive despite the lack of funds. A recent article by S&P Global Market Intelligence stated that integrated payment systems, cross-border payments and networks that provide connectivity to numerous banking services remain attractive fintech models today. Digital payment technology c

MUMBAI: There is yet another bad news for countries dependent on imports for rice. Due to El Nino conditions, Indonesia is witnessing the lowest rainfall since 2019 due to which farmers are reported to be switching from paddy crops to other crops including maize. Paddy cultivation is also reported to be affected in Thailand and Vietnam. A drop in production in Indonesia could lead to a global rice shortage as India's ban on exports of non-basmati white rice is set to make it difficult for many countries in the world to get rice supplies easily. Farmers in one of Indonesia's main rice-producing centers are shifting rice crops to crops with lower water requirements. Rice crop requires abundant amount of water. Due to El Niño, there is a possibility of rice shortage in the Asia region. Rice prices in the Asian region have risen to a three-year high after India imposed a ban on rice exports. As Indonesia strives to become self-sufficient in rice, low rainfall conditions will no

In the currency market, the rupee rose against the dollar Mumbai: In the Mumbai currency market today, the dollar price retreated against the rupee. Despite the drop in the stock market, the rupee rose in the currency market. The price of the dollar opened at Rs.81.93 this morning with a price of Rs.82.00, the high price was Rs.82.03 and the low price was Rs.81.90 to Rs.81.94. The rupee rose by 0.07 percent today. There was news that the interest rate has been increased by five percent by the Federal Reserve in the United States, while such an increase in the interest rate was expected, there were indications that the interest rate increased as expected. Further, there were indications that the interest rates will be increased further in the meeting of the Federal Reserve in September. The market was also watching the interest rate hike in Europe and Japan. Meanwhile, the dollar's global index rose 0.05 percent against various major currencies in the world market today. The glob

Global markets strengthened on expectations that the Federal Reserve's interest rate hike has now peaked Mumbai: After the Federal Reserve Bank of America raised the interest rate by an expected 0.25 percent yesterday, putting the interest rate at a 22-year high, the global markets saw a recovery today behind the US as analysts said that the interest rate has reached a peak at this level and the possibility of a reduction from here in the coming days. But the Indian stock markets are running contrary to the global markets today, at the end of the July trend in futures and options (F&Os), funds, maharathis once again sold banking stocks including Reliance, HDFC Bank and frontline automobile stocks and ended the bullish trend again. The bearish players showed softness for the first three days of the week and after cutting off the sales yesterday brought them back into the bullish trap, they were taken back to the pits of losses today. There was talk of many bullish small-medium

Mumbai: The prices of gold and silver rose again in the Mumbai jewelery market today. The world market had increased. Domestically, the import cost had gone up. The price of gold in the world market was 1972 to 1973 high from 1982 to 1983 to 1976 to 1977 dollars per ounce. The global silver price increased from 24.62 to 24.63 per ounce and crossed 25 dollars and the price was 25.14 to 25.09 to 25.10 dollars. Meanwhile, silver prices rose by Rs 1,000 to Rs 76,000 per kg in the domestic Ahmedabad market today. While Ahmedabad gold price increased by Rs.100 per 10 grams to Rs.99.50 to Rs.61400 from 99.90 to Rs.61600. The price of platinum in the world market was 955 to 956 from 976 to 977 to 961 to 962 dollars per ounce. While palladium prices were 1255 to 1256 to 1258 to 1259 dollars from 1263 to 1264. Global copper prices were down 0.12 percent today. Meanwhile, gold prices in the Mumbai market today were Rs.59,502 at Rs.59,453 at 99.50 and Rs.59,502 at Rs.59,502 at 99.90 and Rs.59,

Mumbai: After the decision taken by the American Federal Reserve to increase the interest rate by 25 basis points, there was an increase in cryptocurrencies. The five percent hike by the Federal Reserve was expected due to which the crypto market did not see any adverse impact from the decision, market circles said. The June quarter also saw an increase in the interest of large traders in futures trading. Jerome Powell, Chairman of the Federal Reserve indicated in a conversation with reporters that whether the interest rate will be increased further or not will depend on the upcoming data. After the Federal Reserve's decision, the price of the major crypto Bitcoin rose to $29,430. Ethereum was also trading above the $1850 level. Prices of other cryptos such as XRP, Cardano, BNB and Solana also rose. The overall global market cap of cryptos was $1.19 trillion. Meanwhile, in the second quarter of 2023, the participation of large traders in Bitcoin and Ethereum futures, controlle

If you want to travel outside India and you don't have a passport, no need to worry. Now you can apply for passport from the comfort of your home. Applying for a passport online is a simple process. You can submit your application from the comfort of your home. How to apply for passport online? First of all, you have to go to the Passport Service website and get yourself registered. If you already have an account, then login to it. After this click on Apply for Fresh Passport / Passport Re-Issue. An application will be issued, fill all the details asked in it. Then tap on submit. Now again go to the home page and click on View Saved/Submitted Applications. After this click on pay and schedule appointment. You can book an appointment at a passport service centre. Select the option and proceed for payment. After the process is completed, download the application receipt. For this click on Print Application Receipt. You will receive appointment details. You must carry all

Today's youth are most worried about the rising unemployment in the country. Youngsters believe that the biggest problem for them today is to find a job after their studies. Finding a job today has become very difficult as compared to before. The main reason for this is that fewer jobs are currently being created. At the same time, only 5 percent of young people are choosing science for higher education. These matters have come to light in a survey conducted by Lok Niti-CSDS. 9316 youth aged 15 to 34 participated in the survey The survey was conducted in 18 states including Uttar Pradesh, Maharashtra, Bihar, West Bengal, Andhra Pradesh, Telangana, Madhya Pradesh, Tamil Nadu, Rajasthan, Karnataka, Gujarat, Odisha, Kerala, Jharkhand, Assam, Punjab, Chhattisgarh and Delhi. Conducted among 9316 youth aged 15 to 34 years. Fieldwork for the survey was conducted in November and December 2022. In this survey, when youth were asked about the country's biggest problem, they ranked une

image : pixabay In the meeting of the US Federal Reserve (US Federal Reserve), once again a big decision is taken, the interest rates have been increased. With which he has reached the all-time high level of 22 years. At the FOMC meeting, the benchmark lending rate was hiked by 25 basis points to a range of 5.25-5.50. Decision taken to increase interest rate in 11 out of 12 seats Earlier in 2001, the Fed's interest rates came close to this level and since 2001 they are now at this all-time high level. The US Federal Reserve has decided to deal with rising inflation in the country. Economists were already predicting that the Federal Reserve would raise interest rates once again this time, and that's exactly what happened. This was the 12th meeting of the Federal Reserve out of which the benchmark lending rates have been increased in a total of 11 meetings. The US Fed has raised interest rates in 11 of the 12 meetings since March 2022 last year. The hint was given in the mee

Mumbai: The prices of gold and silver rose again in the Mumbai jewelery market today. Sources in the market said that the import cost of precious metals has increased due to the increase in the world market and weakening of the rupee in the domestic currency market. In the world market, the buying of funds in gold increased as the global dollar index fell again. Global gold prices today were reported to have increased from 1960 to 1961 to 1972 to 1973 dollars per ounce. Global silver prices, however, remained at 24.62 to 24.63 dollars against 24.67 to 24.68. In the Ahmedabad market today, the price of gold rose by Rs.300 per 10 grams to Rs.99.50 to Rs.61300 and Rs.61500 to 99.90. Ahmedabad silver prices also increased by Rs.500 per kg to Rs.75000. Meanwhile, in the global market, platinum prices traded at $955 to $956 an ounce from 972 to 973 while palladium prices were at $1263 to $1264 from $1296 to 1297. Global copper prices fell by 0.80 percent today. In the Mumbai bullion mark

MUMBAI: The impact of climate change shocks and the uncertainties surrounding them may make it difficult to estimate and estimate inflation and make it difficult to state inflation expectations with certainty, the Reserve Bank of India said. Creditors, including banks, suffer as a result of damage to goods due to climate change. The RBI has called upon all stakeholders in the country to make concerted efforts to safeguard the country's economy against the shocks of climate change. RBI deputy governor M. Rajeshwar Rao said in a panel discussion. Everyone including the government, private companies, individuals and financial institutions will have to adopt a multifaceted approach to ensure that we can move towards sustainable development. He was speaking at a panel discussion held last week on the implications of the Quaymate change. Rising temperatures and changing rainfall patterns in India may affect crop yields, with sometimes higher or sometimes lower yields, making it dif