Market and Business News

(Gujarat News Correspondent) MUMBAI: As geopolitical tensions escalate in Afghanistan with the coup d'etat on the global front, corona transition to the US is spreading like wildfire and the death toll is rising, and a three-day lockdown in New Zealand Funds in Indian stock markets today set a new record by crossing the Sensex level for the first time in a historic rally in anticipation of accelerating economic growth as unlocking gains accelerated. International crude oil prices rose by 7 cents to ૫ 2.7 a barrel in Brent and Nymex crude rose by 3 cents to close at ૪ 4.31 a barrel in global markets today. Corona's transition to the U.S. was on the rise, with U.S. stock markets softening yesterday as well as European markets today. Of course, the markets in Asian countries were moderately strong. In Indian markets, funds today made a bullish pick in FMCG, auto, pharma and cement stocks, setting a new record of Rs 2,114.3 crore in banking and finance stocks. The Nifty spot hit a

(Gujarat News Office) MUMBAI: The Mumbai Oilseeds market today witnessed a decline in prices of various domestic and imported edible oils. The new demand was winged. Manufacturing establishments and world market news were showing weakness. Edible oil prices were also under pressure today in the futures market behind the spot. In the Mumbai spot market, the price of cingulum oil fell to Rs 19 per 10 kg today. While the price of cottonseed oil fell to Rs. Mustard was priced at Rs 150 and refined at Rs 1,200. Producers today quoted cingulum oil at Rs 1,200 and 15 kg at Rs 50. While the price of cotton washed was news of Rs 150. Meanwhile, palm oil futures prices in Malaysia today fell by 8, 9, 105 and 104 points in various deliveries. While there, the price of palm products today fell from two and a half to five dollars. However, world market analysts today predicted that Malaysia and Indonesia will increase export-oriented export taxes for September. Palm oil exports from Malaysia, ho

(Gujarat News Office) MUMBAI: The dollar depreciated against the rupee in early trade today. After opening at Rs 4.51 this morning, the dollar closed at Rs 6.5, a high of Rs 4.5 and a low of Rs 4.5. The dollar had lost 12 paise today. The rupee strengthened against the dollar in the currency market today despite the stock market crashing. However, the dollar index against various major currencies in the world market was showing a slowdown after rising. The dollar index traded at a high of 7.15 and a low of 7.11 after trading at a low of 8.00. The dollar index was down marginally by 0.08 per cent today. The market was watching the minutes coming out of the Federal Reserve meeting in the US. The British pound fell 3 paise in the Mumbai currency market today. The pound traded lower at Rs 106.51 to Rs 107.05 and Rs 109.05. The European currency, the euro, fell 3 paise to Rs 2.00 against the rupee today. Meanwhile, the European currency, the euro, fell to a six-month low against the dol

(Gujarat News Office) MUMBAI: Gold and silver prices were on a downward trend in the Mumbai jewelery market today. Lushwa market news was showing high caution. With the global market retreating and the dollar depreciating against the rupee in the domestic currency market, the import cost of precious metals has come down and new demand has stalled on the back of a surge in jewelery markets. World gold prices were at ૭૮૮ 15 to ૭૮૯ 16 an ounce this evening. Global silver prices rose from ૭૭ 7.5 to ૭૮ 7.5 an ounce to ૬૪ 6.5 an ounce and from ૭ 4.50 to ૭ 7.31 an ounce. Gold prices fell today after hitting a high of ૭૯૫ 16-17 on Tuesday. At the Ahmedabad jewelery market, gold prices rose by Rs 100 per 10 grams, fell by Rs 500 to Rs 2.50 and Rs 3,100 to Rs 2.50. Andavad silver prices fell by Rs 1,200 per kg to Rs 200 today. Platinum was trading at ૯૯૮ 5 to ૯૯૯ 8 an ounce in world markets today. Palladium was quoted at ૨૪૭૪ 4 to ૨૪૭૫ 6 an ounce this evening. Copper prices in global markets

Mumbai: Crisil has revised the credit quality outlook of Indian companies for the current financial year with cautious optimism. The improvement is due to a steady recovery in demand. The upgrade was made by the rating agency following the impact of the second wave of Corona in the first quarter of the current financial year. Even if a third wave of corona occurs, its impact will be minimal due to the increase in vaccinations, Crisil said in a statement. Studies conducted in 6 areas have shown that the current recovery is extensive. Apart from the financial sector, these three sectors account for 5 per cent of the outstanding rated debt of Rs 4 trillion. Demand levels are expected to reach pre-Coro levels by the end of the current financial year in as many as 8 sectors (which account for 4% of outstanding corporate debt), while 8 sectors are poised to reach 8% of pre-Coro levels. The outlook has improved in view of strong economic growth at home and globally and regulatory measure

MUMBAI: As the stock market picks up, promoters of companies, top bankers or bigwigs familiar with the company's internal affairs are discussing a reduction in their shareholdings. Over the last three months, so-called big heads have been discussing offloading goods worth about Rs 2,000 crore in the market. However, there could be a number of reasons behind this, said one analyst. The promoters of the company either sell the goods at a higher price and use the money to expand their operations or to meet their other needs. According to the information received, goods worth Rs 11,000 crore were destroyed in July by shareholders with knowledge of the companies. According to market sources, goods worth Rs 2,000 crore were sold in May and June each. The top officials of the banks that deal with the companies are the ones who are well aware of the movements of that company. In other words, bankers are aware of the inside information of companies. At a time when the stock market is bo

- Reserve Bank allows HDFC Bank to issue new credit so that HDFC shares rise today New delhi date. Wednesday, August 18, 2021 The Indian stock market is at a historic high today. The BSE Sensex opened 281 points higher at 56,073.31 on Wednesday. At around 9:26 am, the Sensex rose 294 points to 56,086.50, a record high for the Sensex. The Nifty on the National Stock Exchange opened 77 points higher at 16,691.95. At around 9:28 am, the Nifty rose 79 points to 16,693. All sectors except Metal and PSU Bank on the Nifty are appearing in the green symbol. HDFC Bank Strengthens Shares of HDFC Bank rose 3% today. The Reserve Bank has allowed HDFC Bank to issue new credit again. As a result, HDFC stocks are bullish today. Ups and downs on Tuesday The Indian stock market opened in the red on Tuesday but has been fluctuating since then. The BSE Sensex opened 17 points lower at 55,565.64 in the morning. The Sensex reached the green mark after 9:24 am. After 3:00 pm, the Sensex suddenly sta

(Gujarat News Office) MUMBAI: The bullion market in the Mumbai jewelery market was officially closed today due to Saturday. Closed markets, however, saw prices rebound behind world markets. Gold and silver prices rose sharply in the jewelery market on the eve of Independence Day today as import prices rose in the domestic market. In the Ahmedabad jewelery market, gold prices rose by Rs 200 per 10 grams to Rs 900 from Rs 2.50 and Rs 300 from Rs 4.50, while Ahmedabad silver prices rose by Rs 200 to Rs 300 per kg. Growing markets slowed new sales. There was talk of increased demand. Meanwhile, in the Mumbai Bullion Market, gold prices rose by Rs 215 to Rs 9.30 per liter, excluding GST, to Rs 30, Rs 3.30 per piece from Rs 7.50 to Rs 310 and Rs 320 per liter, including GST, three per cent higher than this. Mumbai silver prices today were trading at Rs 500, excluding GST, while prices with GST were three per cent higher. Gold prices in the world market jumped further from ૭૬ 151 to ૭૬૨ 1

Small, mid-cap stocks storm again (Gujarat News Correspondent) MUMBAI: In the wake of the third wave of Corona transition and the resurgence of Corona cases in the world and Delta Plus Corona cases in India, the Union government has decided to move the country on the path of rapid economic growth. With the passage of the Development Bill and the positive outline of economic growth given by Finance Minister Nirmala Sitaram to the industries today and the appreciation given by the industries, a record new record was set in the Indian stock markets today. Amid signals that China will continue to tighten its regulatory measures for years in global markets today, the continued sell-off of global funds in Chinese assets was accompanied by a softening in other Asian markets and cautiousness in European-American markets. However, international crude oil prices rebounded to Brent crude at ૪૮ 41.8 a barrel and Nymex crude at ૨૨ 4.5 a barrel. With the positive impact of economic growth measures

MUMBAI: Corporate scandals in India have made the country's fund managers more vigilant in choosing stocks than foreign fund managers and retail investors. Domestic fund managers have become more adept at using information about companies and the government and economic environment to avoid falling into the trap of investing, an analyst said. Based on previous experiences, domestic mutual funds have made more cuts in investing in wasteful companies than foreign companies. Domestic mutual funds have been investing more than foreign funds in mid-caps and small-caps, which have taken the stock market higher since 2015. The investment of domestic fund houses in companies with administrative complexity is lower than that of foreign funds and retail investors. The report is based on an analysis of shareholdings in Indian companies, such as Cox & Kings, Yes Bank, Diwan Housing Finance and Gitanjali, which have been weakened in the recent past. Companies with low investment of dome

Irresponsible attitude of BSE: Withdrawal in new add-on price band rules of stocks within 3 hours (By delegate) MUMBAI: Shares of Asia's oldest Bombay Stock Exchange (BSE) have taken an irresponsible stance in the wake of a surprise decision to plunge investors into small, mid-cap and cash stocks and reverse the decision in four hours. Despite the implementation of the Allready Priceband Circuit Rules on the BSE, the implementation of the new priceband rules overnight has had a profound repercussion on the market itself, with investors turning away from the stock market and closing the market. With the lack of transparency in the decision to reverse the decision on Wednesday to introduce a new price band framework for stocks of companies listed on the BSE on Monday, the capital market regulator SEBI has asked Mumbai Police to look into the matter. -Deported by Economic Offenses Wing (EOW) and Crime Branch. BSEA-11, which kept investors in the dark by not mentioning in the circ

(Gujarat News Office) MUMBAI: Gold prices rebounded in the jewelery market today, hitting a low. Gold prices in the world market jumped to the level of 150 an ounce. In a global slump, the dollar index fell on rising prices and bond and treasury yields also retreated. Corona's new delta virus outbreak in various parts of the world has also led to a resurgence of gold, world market experts said. Gold prices in the world market rose from 120 to 12 an ounce in the late evening to ૭૪૬ 16 to 17 dollars. Global silver prices rose as high as 4.5 to ૬ 2.50 an ounce, indicating a high of ૨૬ 6.5 to ૨૭ 7.5 today. Sources in the world market said that there is a boom but it does not last. Meanwhile, the number of jobless claims in the US has come down from 3 lakh 6 thousand to 3 lakh 5 thousand, according to the data released late this evening. As the figures, which showed a resurgence in the job market, came out, there was talk in the market that gold was set to resell in the world market

(Gujarat News Office) MUMBAI: The dollar rose against the rupee in early trade today on the back of a sharp fall. The rupee rose against the dollar in early trade today as the stock market rebounded. The global dollar index, which had risen to a four-month high against various major currencies in the global market, was news of a sharp fall and its impact was also seen on the dollar in the Mumbai currency market today, market sources said. The dollar also showed signs of slowing in July as inflation slowed in the US compared to June, world market analysts said. In the Mumbai currency market, the dollar opened at Rs 4.5 in the morning and closed at Rs 4.5, a high of Rs 4.5 and a low of Rs 4.5. The dollar had lost 20 paise today. Meanwhile, the dollar index, which had hit a four-month high of 6.15 to 7.30, fell from a high of 7.8 to a low of 7.30 today. Meanwhile, in the Mumbai currency market, the British pound opened at Rs 105 in the morning with a low of Rs 105.5 and closed at Rs

(Gujarat News Office) MUMBAI: Singtel and cottonseed oil prices rose in the Mumbai oilseeds market today. The news from the manufacturing establishments was showing a rebound. Meanwhile, various imported edible oils were facing the spot market and futures market today. The spot market was booming. When the futures market appeared to retreat. Meanwhile, soybean futures fell today and a six per cent bearish circuit prevailed again. Today, soybean futures were quoted at Rs 9 for August and Rs 31 for September. Mustard seed futures fell two per cent today. Soyoil futures fell by Rs 4 to Rs 19.50 per 10 kg and crude palm oil CPO futures by Rs 8 to Rs 1,160.50 today. In Malaysia, palm oil futures rose and fell in various deliveries. In the Chinese market today, however, palm oil and soyoil prices were in the positive while soybean and soymeal prices were in the negative. There were indications of increased Chinese purchases in Brazil. In the US agricultural markets, soybean prices fell b

MUMBAI: The Reserve Bank of India (RBI) has been steadily increasing its gold reserves. In the first half of the 2021 calendar year alone, the RBI has added a record 8 tonnes of gold to its gold reserves. With this, the total gold reserves of the Central Bank of India have significantly increased to over 500 tonnes for the first time. It may be noted that the central bank's surplus fund, which was 3.1 tonnes at the beginning of 2017, crossed 202.5 tonnes at the end of June 2021. According to the World Gold Council, in June 2021, the central banks of all the countries in the world bought a total of 8 tonnes of gold, of which the Reserve Bank of India accounted for 50 per cent. It may be mentioned that the Central Bank of India bought gold in March 2013, long after November 2008, and it too was only 4.5 tonnes. This time, the RBI has procured 7.5 tonnes of gold in the first six months of the calendar year 2021 from January to June, the highest ever. With this, the total gold rese

(Gujarat News Office) MUMBAI: Gold and silver prices moved lower in the Mumbai jewelery market today. World market news was pointing to a softening trend. With the world market collapsing and the import cost coming down, there were more sellers and less buyers in the jewelery market. However, as the dollar appreciated against the rupee in the domestic currency market, the pace of price decline in the jewelery market slowed down slightly today, market sources said. Gold prices in the world market today were reported to be ૭૨૮ 15 to વાળા 17 per ounce, up from ૭૩૯ 15 to ૭૪ 120. Behind gold, global silver prices also fell further by 4.5 to ૭૮ 7.5 an ounce, from ૨૭ 4.5 to ૨૮ 7.5 an ounce. After the job market in the US soared, the world market players were now keeping an eye on the inflation figures released on Wednesday (today). The fall in global crude oil prices was followed by a three-month low of 1.5 per cent today. In the Ahmedabad jewelery market today, the price of gold per 10 gr

SEBI-BSE in action after a storm of rampant boom (Commercial Representative) MUMBAI: In the name of surveillance and protection of investors' interests, the Securities and Exchange Board of India (SEBI) has been consulted with the Securities and Exchange Board of India The Bombay Stock Exchange (BSE) has since taken action to curb the rally. The large-scale offloading of small, mid-cap, cash stocks in the cash segment over the last two days, is actually responsible for the sell-off, the add-on price brand framework introduced by the Bombay Stock Exchange-BSE for BSE Exclusive Securities-stocks yesterday. BSE introduces various surveillance measures such as Graded Surveillance Measures (GSM), Additional Surveillance Measures (LT-ASM), Short Term Additional Surveillance Measures (ST-ASM), Trade to Trade (TT) etc. in consultation with SEBI. J Yesterday, BSE decided to introduce a new surveillance framework add-on price band framework to tighten surveillance measures for securities