Market and Business News

MUMBAI: The default crisis of Chinese real estate giant Evergrande could lead to a major upheaval in global financial markets, said Christopher Wood, global head of equities strategy at Jefferies, adding that structural bullion in India has remained intact. The benchmark Sensex of the Indian stock market jumped above 30,000 for the first time on Friday. Which reflects the ever-increasing confidence of foreign investors. Woods has increased its market share (PPT) to 1% in its Asia-X Japan portfolio, having bought a stake in the company earlier this month. The Sensex has gained 3% so far this calendar year. Meanwhile, the midcap and smallcap indexes have risen sharply, gaining 6 per cent and 8 per cent, respectively. Of course, in addition to the risk of a further wave of potential Corona epidemics against the Indian market boom, higher inflation rates and changes in the Reserve Bank's policy will be phased out. The Evergrande crisis could have an impact on the global market. Inve...

(Gujarat News Office) MUMBAI: Gold and silver prices fell in the Mumbai jewelery market today. The decline in world market prices was a sign of progress. As the dollar index rose in world markets and bond and treasury yields rose, so did the value of funds in global gold. Global gold prices fell from ૭૫૭ 15 to ૭૫૮ 16 an ounce today, falling below ૭૫ 150 to ૭૪૪ 16 to ૭૪૫ 16. Behind gold, global silver also fell by ૬૬ 4.5 to ૬૬ 7.5 an ounce from ૨૫ 4.5 to ૨૬ 7.5 today. With the world market collapsing, the import cost has come down at home and as a result, there were more sellers and less buyers in the country's jewelery markets today due to falling prices. In the Ahmedabad jewelery market, gold prices fell by Rs 500 per 10 grams to Rs 900 from Rs 4.50 and Rs 900 from Rs 4.50 per kg, while Ahmedabad silver prices fell by Rs 500 to Rs 2,000 per kg. Brent crude, meanwhile, rose to ૫૫ 2.50 a barrel from ૫૫ 7.50 a barrel to ૭૭ 2.50 a barrel, while New York crude traded up ૪૭ 4.5 to ૨૩...

New Delhi, September 24, 2021, Friday Investors are getting richer due to the boom in the Indian stock market. Since the stock market plunged in March 2020, it has risen 158 per cent so far. The Sensex has crossed a historic high of 60,000 today and investors' wealth has risen by a record Rs 161.27 lakh crore. The Sensex touched a record high of 60333 this morning. While Nifty has also reached close to 18000. At the same time, the market cap of all companies listed on the stock exchange has risen to over Rs 263 lakh crore. The Sensex plunged to Rs 26,000 crore last year after the Koro crisis and the market cap of companies fell to Rs 101.6 lakh crore at that time. The stock market plunged last year after the central government announced a nationwide lockdown due to Corona and now the stock market is jumping up and down. This has led to a huge increase in the wealth of investors.

Vadodara, Dt. 24 September 2021, Friday Exciting scenes were created when 3 gamblers were caught by the police on the terrace of a house in Nagarwada Navidharati area. While Karelibagh was on police patrol, police raided Jignesh Ambalal Rana alias Mataji, a resident of Baliyadev temple in Nagarwada Navidharati area, after receiving details that he was gambling. Police nabbed Chirag Kamlesh Bhai Rana, Vishwanath Tulsidas Pandya and Vikas Chandrakantbhai Rana from the roof of the house and seized Rs 19,580 in cash. Police have declared Jignesh Rana wanted and are conducting an investigation.

A meeting between the finance ministry and the rating agency will be held on September 4 New Delhi: The Indian government may suggest rating agency Moody's to upgrade the country's rating based on the economic recovery scenario. Sources familiar with the developments said that the finance ministry will hold a meeting with Moody's Investors Service on September 7, in the meantime, which may force India to upgrade its rating. During the meeting, the finance ministry will also explain to the rating agency how India will achieve its budget targets for the current financial year. Moody's downgraded India's sovereign rating to 'Baa2' in June last year with a negative outlook. The global ratings agency, citing slow growth in the long run amid the Covid-12 epidemic, said the outbreak had further weakened India's credit profile, which was already in recession. At that time, it had downgraded six other countries as well as given the lowest investment grade. L...

(Gujarat News Correspondent) MUMBAI: On the global front, after the US Federal Reserve yesterday gave a clear signal that stimulus tapping will not stop immediately and monetary stimulus will continue at the end of the two-day meeting. . Foreign portfolio investors (FPIs) rallied all-round in stocks as if the market had become accustomed to hitting historic highs. U.S. For the second day in a row, global markets saw a positive impact on the prospect of recovery from the crisis of China's mega real estate giant Evergrande and the massive liquidity brought into the system by the Chinese central bank, with a positive signal from the Federal Reserve. With Prime Minister Narendra Modi's visit to the US meeting with top five corporate CEOs of the US and the prospect of important deals in India after the meeting and the success of attracting large foreign investment in India from countries including the US, the funds are expected to boost business growth in Indian companies. Funds ra...

MUMBAI: Chinese regulators have instructed Evergrande Group to avoid short-term defaults on dollar bonds. At a recent meeting with Evergrande executives, the regulators said the company was sending a clear message to bondholders to avoid default, citing sources in a report. Chinese authorities told the local administration to be prepared for the possible failure of Evergrande. Authorities also ordered local governments to gather groups of accountants and check the group's finances in their areas with the help of legal experts. It was also instructed to discuss with local developers and government companies to be ready to take over Evergrande's projects. Local governments have been instructed to set up a legal mechanism to deal with any public outrage if Evergrande goes into liquidation. Evergrande has a debt of about two percent of China's GDP. The company was due on Thursday to pay નું 25 million in interest on બે 2 billion in foreign bonds. In addition, next week, આવ...

(Gujarat News Office) MUMBAI: Gold prices rose sharply in the Mumbai jewelery market today. Silver prices, however, continued to hit higher. Silver prices, however, continued to hit higher. Gold prices in the world market were reported to have fallen from ૭૭૩ 15 to ૭૭૪ 12 an ounce to ૭૫૭ 16 to ૭૫૮ 12 an ounce. In the domestic currency market, the fall in the value of the dollar against the rupee today was also having an impact on the jewelery market. While Ahmedabad silver price remained calm at Rs 200 per kg today. In the global market, however, silver was also today down from ૭૫ 4.5 to ૭૬ 7.5 an ounce to ૬૬ 4.5 to ૬૬ 7.5 an ounce. Rising bond and treasury yields in the global market have led to speculation that the rise in gold could lead to the sale of funds. The US Federal Reserve has signaled a reduction in bond buying and an increase in interest rates. This had an impact on the world currency market and commodity markets. Meanwhile, in the US, according to the data released l...

Signs of declining bond buying and rising interest rates in the US (Gujarat News Office) MUMBAI: The rupee weakened sharply against the dollar in early trade today. The rupee rose sharply against the dollar in the currency market today on record highs and the stock index rose to close at 30,000, market sources said. In the Mumbai market, the dollar opened at Rs 4.5 in the morning with a price of Rs 4.5. The dollar fell 3 paise today. There was also news of a sharp rise in the dollar index against various major currencies in world markets. The US Federal Reserve has indicated that bond buying in the US is likely to ease further in the near future. The global dollar index, which had a low of 7.5, rose to a low of 6.15 and a low of 6.15 to 6.15. The dollar index was down 0.5 per cent today. The dollar index in world markets was on the decline after reaching a four-week high. There was news that the Bank of Japan maintained monetary policy unchanged. Demand for Safe Haven fell today i...

(Gujarat News Office) MUMBAI: Prices of cingulum oil continued to decline in the Mumbai oilseeds market today, however, prices of various imported edible oils rose. The spot price of cingulum oil was Rs 150 to Rs 150 per 10 kg, while the manufacturing units had indicated a fall of Rs 1,200 to Rs 12 and Rs 200 to Rs 210 per 15 kg. Prices of cotton washed ranged from Rs 1,200 to Rs 1,505. In the Mumbai market, cottonseed oil was trading at Rs 150. Meanwhile, palm oil futures in Malaysia rose by 20, 114, 17 and 114 points to close at ૭ 19.50 to ૦૦ 6.00. In today's Mumbai market, the price of imported palm oil rose to Rs 1,210. However new demand was slow. Crude palm oil CPO Kandla was up by Rs 115. Meanwhile, futures traded higher at Rs 119.50 and Rs 1,110 per dollar in the evening trade. Soyoil futures were up at Rs 1,312.50 today. Soybean futures were up two per cent today. While mustard seed futures were up half a percent. Meanwhile, soybean oil prices were reported to be 3 to ...

Mumbai: The government wants to keep Chinese investors away from Life Insurance Corporation of India's (LIC) initial public offerings (IPOs). It is learned that the government's intention has been exposed in view of the recent tensions between China and India. LIC, which has assets of over 500 billion, plans to launch an IPO by the end of the current financial year. LIC has more than 50 per cent share in the country's life insurance market. The government welcomes foreign investors in IPOs, but the government wants Chinese investors to stay away from them, sources said. LIC expects to raise Rs 500 billion through IPO. Political tensions between the two countries have been running high since last year's clash between Indian and Chinese troops. Amid the tensions, India has banned a number of Chinese apps in the country, as well as limited Chinese investment in sensitive companies. The government has also taken steps to reduce imports from China. The sources added tha...

(Gujarat News Office) MUMBAI: The dollar rose sharply against the rupee in early trade today, hitting a close of Rs 4. After opening at Rs 4.50 this morning, the dollar closed at Rs 4.5, a low of Rs 4.5 and a high of Rs 4.5. The dollar had gained 7 paise today. Against the rupee weakened. In the global market, the dollar index was quoted at a high of 7.50 and a low of 6.8 and a low of 6.15 to 7.81. The players were watching the meeting of the US Federal Reserve in the world market. Meanwhile, market analysts were predicting that the financial crisis of China's construction giant Evergrande will have an impact on India's currency market and the rupee will remain under pressure. Experts were counting on the impact of China's crisis on the currencies of various emerging global countries. Under such circumstances, the Indian rupee is likely to depreciate to Rs. Now the question of Evergrande is being looked at at how the Chinese government handles it. Evergrande has a debt ...

(Gujarat News Office) MUMBAI: Gold and silver prices rose sharply today in the Mumbai jewelery market on the back of a rebound. World market news was encouraging. The rise in the dollar and the depreciation of the rupee in the domestic currency market also had an impact on the jewelery market. Import cost was high. World gold prices were at ૭૭ 121 to ૭૭૪ 15 an ounce today, while global silver prices rose by ૬ 2.31 to ૬૨ 4.5 an ounce and were trading at ૭૫ 4.5 to ૭૬ 7.5 an ounce. Jewelry markets were also up today in the backyard of the world market. Ahmedabad gold price rose by Rs 200 per 10 grams to Rs 900 at Rs 2.50 and Rs 300 at Rs 4.50. While Ahmedabad silver price rose by Rs 200 per kg to Rs 200. World market players were keeping an eye on the US Federal Reserve meeting. And the meeting was about what indications are given about bond buying and interest rates. The rise in crude oil prices by about 1.5 per cent in the global market today also had a positive effect on global gol...

BEIJING: Evergrande, China's largest realty company, has indicated its readiness to pay interest on bonds. Notably, the bankrupt giant realty company feared that it would default on interest payments on bonds, fearing that the world was once again heading for a catastrophic recession like Lehman Brothers. However, before the Evergrand situation becomes uncontrollable and hurts the global economy, including China, Xi Jinping's government has poured liquidity into the system and given the company some financial support, the company has shown readiness to pay interest on September 9. Evergrande, China's largest realty company facing financial crisis, has said it will pay interest on the bonds on September 6. World markets have found general relief following the report. Evergrande's default was expected to have a huge adverse effect on the global financial system. EverGrand is to make this payment on dollar bonds. This amount of dollar bond interest payment is estimated...

New Delhi: The Asian Development Bank (ADB) has lowered India's economic growth target for the current financial year. According to the ADB, India's GDP growth rate is estimated at 10%. Earlier, India's GDP growth was projected at 11%. India's economy is recovering from the Corona epidemic. However, as many countries in the world are once again in the throes of the Corona, there is a resurgence in the agencies and institutions regarding the growth of India's economy. According to a new report, the Asian Development Bank (ADB) has slashed India's economic growth forecast for the current financial year from 11 per cent to 10 per cent. The ADB says the damage from the second wave of Corona will affect India's growth. Earlier in April, the ADB had projected 11 per cent growth for the economy. An update on ADB's Asian Development Outlook Growth says the Corona epidemic has subsided earlier than expected and has led to lockdowns and travel relief in many s...

(Gujarat News Office) MUMBAI: The price of cingulum oil in the Mumbai oilseeds market fell further by Rs 15 per 10 kg to Rs 150 today. There was news that the price of cingulum oil fell to Rs 2,130 per kg and Rs 40-50 per 15 kg. However, there were indications that the prices of cotton washed were hovering above Rs. In the Mumbai market, cottonseed oil was trading at Rs 150. Meanwhile, palm oil prices stopped falling and rose again to over Rs 1,200 and stood at Rs 1,305. Due to rising demand for palm oil today, various refineries traded around Rs 500 tonnes for delivery in September and October from Rs 1,205 to Rs 1,610. Crude palm oil CPO Kandla was priced at Rs 115 to Rs 115. In the futures market, CPO prices rose by Rs 10 to Rs 115.50 this evening, while soyoil futures rose by Rs 19.50 to Rs 1,307.50. Soybean futures were quoted at Rs 15 to Rs 150 per kg. In the US agricultural markets, soybean prices rose 4 points in projection this evening while soybean prices rose in projecti...

(Gujarat News Correspondent) MUMBAI: The news of Chinese realty giant Evergrande going into liquidation has given the realization that the realty giant will emerge from the crisis in the ongoing turmoil in global markets a recovery in global markets and the US. Amid a strengthening of futures in US markets ahead of the Federal Reserve meeting, the market today fell into the market index-based negative zone, with funds initially booking profits in banking-finance stocks after an initial rally in Indian stock markets. At the same time, China has seen a positive impact on the banking system, with એ 12.5 billion being invested by Evergrande during this period of crisis. Apart from banking-finance stocks, the sentiment was bullish today on large-scale buying of funds in IT-software services, technology stocks as well as automobile, metal-mining, realty stocks and in particular small, mid-cap stocks. The US dollar weakened again against the rupee today, touching close to the dollar and fina...

New delhi date. Wednesday 22 September 2021 The Asian Development Bank (ADB) has slashed the country's economic growth forecast for the current financial year to 10 per cent due to losses from the second wave of the Koro epidemic in India, up from 11 per cent previously raised by the ADB. The ADB said in its latest economic scenario on Wednesday that India's growth forecast for FY2021 has been revised. In May this year, an additional reason was given in the case of Kovid-19. The transition, however, was more rapid than expected, the ADB said. As a result, some states delayed the lockdown and the situation became increasingly normal. Yet the country has suffered a setback on the economic front. Which may cause a slight decline in the growth rate. The Asian Development Scenario Update (ADOU) 2021 states, “The economy is expected to grow at a rate of 10 per cent for the remaining three quarters of FY21, compared to 7.5 per cent in FY2022. Can. Earlier in April, the ADB had p...

MUMBAI: The rise in retail participation in Indian stock markets has also led to higher STT recovery. As on September 15 of the current financial year, Rs 15,000 crore has been recovered through STT as against Rs 5,000 crore collected during the same period last financial year. The budget target of Rs 1,200 crore for the collection of Securities and Transactions Tax (STT) in the current financial year is set to be achieved very early, i.e. in September. Coro's recovery during the previous financial year, 2013-2014, was Rs 2,000 crore. Stock markets are booming and investors are more positive about the country's economy, so revenue from STTs has been higher than expected. The formation of the Bad Bank, the announced package for the telecom sector and the Product Linked Incentive (PLI) scheme for the auto sector have been welcomed by the market. The Centre's direct tax collection was reported to have exceeded 50 per cent of the budget estimate by September 15 of the curr...

MUMBAI: Silver prices rebounded in the Mumbai jewelery market today. On the other hand, the recovery was accelerated by the fall in gold prices. Gold prices in the world market jumped from ૭૫૫ 15 to ઔ 12 an ounce to ૭૭ 161 to 15 an ounce. On the back of gold, global silver also rose by ૨૮ 4.5 to ૨૯ 7.5 an ounce, from ૬ 4.71 to ૬૨ 7.5 today. The rising cost of precious metals on the back of rising global markets has led the country's jewelery markets to see fewer sellers and more buyers today. In the Ahmedabad jewelery market, silver rose by Rs 1,000 per kg to Rs 2,000 today, while Ahmedabad gold rose by Rs 200 per 10 grams to Rs 800 from Rs 2.50 and Rs 3,100 from Rs 4.50. The rise in global crude oil prices and copper prices also had a positive effect on global gold and silver prices. Crude oil prices rose nearly one per cent to cross ર્ક 61 a barrel in New York today. Brent crude jumped ૭૪ 8 to ૬ 2.50 to ૬૫ 7.5. In the Mumbai jewelery market, gold prices today closed at Rs 5...