Market and Business News

Investors' assets fall by Rs 1.50 lakh crore to Rs 21.05 lakh crore (Gujarat News Correspondent) MUMBAI: The world is reeling from the omikron-coro virus, especially in European countries, and the US is signaling to hasten bond-bonding. The Indian stock market plunged again over the weekend today. As if index fixing is going on, experts in trapping players in the weekly game of F&O, this move was washed away on Friday after the Sensex gained 3 points on Thursday in the move of big funds. After Karnataka, Delhi, Mumbai-Maharashtra is witnessing a rise in suspected cases of Omicron virus, which could lead to another lockdown at any time. The Nifty spot was down 3 points at 3.96 and the Nifty spot was down 206.5 points at 1213.30. Brent crude was up ૬૮ 1.6 at ૭ 21.8 and Nymex crude was up ૫૬ 1.05 at ૫ 3.08 today, after crude oil prices stalled as the OPEC meeting decided to take a more flexible approach to crude production. Sensex loses 2,000 points again Trading started stron...

(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils rose in the spot and futures markets. Demand was also rising. Today, 100 to 150 tonnes of imported palm oil traded at Rs 115 to 115 per 10 kg. Malaysia's palm oil markets were closed today, while soybean oil prices in the US were projected to be 4 to 5 points higher in the projection this evening. In the Mumbai spot market today, the price of 10 kg of imported palm oil rose by Rs 115 while crude palm oil CPO Kandla rose by Rs 1112. In the futures market, CPO prices rose by Rs 15 to Rs 12 and soyoil futures by Rs 15 to Rs 20 this evening. Soybean futures jumped 4%. Castor futures were raised by Rs 20 to Rs 5. In the Mumbai spot market today, the price of cingulum oil was Rs 120 while cottonseed oil was up by Rs 150. On the Saurashtra side, the price of cotton washed rose from Rs 115 to Rs 1,150 per kg, while the price of cingulum oil was Rs 12 and Rs 15,050 per 15 kg. In the Mumbai market, the spot...

(Gujarat News Office) MUMBAI: The rupee depreciated further against the dollar in early trade today. Market sources said that the rupee has come under pressure in the currency market as the stock market plunged. The dollar opened at Rs 4.00 today with a low of Rs 4.00 and a low of Rs 4.5 and a high of Rs 4.15 and closed at Rs 3.15. The dollar had gained 18 paise today. In the global market, the dollar index was up 0.06 per cent against various major currencies today. The global index for the dollar rose from 7.15 to 7.81 to 7.8. At the time of writing, the US was on the rise in job growth figures after rising unemployment claims in the US. The players were watching the Reserve Bank's policy meeting at home. Meanwhile, the British pound depreciated 18 paise against the rupee in the Mumbai currency market today. The pound, which was trading at Rs 4.5, today fell to Rs 4.5 from Rs 4.50. The European currency, the euro, lost 15 paise against the rupee today. The euro traded lower b...

(Gujarat News Office) MUMBAI: The weather in Mumbai Zaveri Bazaar was mixed today. Gold prices were on a slow decline while the key was up. There were indications that the price of gold in the Ahmedabad market today fell further and fell below Rs 2,000 per 10 grams. Gold prices in the world market were at ૭૮ 151 to ૭૮૨ 15 an ounce, down from ૭૭૨ 12 to આજે 12 today. Global silver prices also fell from ૪૯ 4.5 to ૫ 2.50 to આજે 4.5 to ૩૮ 7.5 today. However, Ahmedabad silver prices remained unchanged today, rising by Rs 200 per kg to Rs 200. Following the rise in the global dollar index, there was talk of selling funds in gold in world markets. However, crude oil prices in the world market after the shock today again jumped two and a half to three percent. Crude-producing countries have reportedly decided to increase production by four lakh barrels a day in January after December, but according to the producers, crude production will be reduced again if the omikron virus infestation incr...

MUMBAI: With many institutional investors withdrawing money from India, Mark Mobius, a leading investor in emerging markets, has expressed confidence that the market in India will continue to rise. However, he predicted a healthy correction of 10 to 15 per cent in the current booming market. This correction will be modest compared to the rise in Indian stock markets over the last year and a half. Given the high valuation in India, there are good opportunities in other markets. In an interview with a TV channel, he said that he sees the correction as a good buying opportunity. We don't see any reason to go into correction. He also expressed confidence that the market would continue to rise. The last one month has seen tremendous volatility in Indian stock markets. The market fell seven percent from an all-time high in October. Panic has spread due to inflationary pressures and Corona variants. Mobius is not particularly enthusiastic with the current boom in the primary market. P...

MUMBAI: After the manufacturing sector, November saw the country's service sector perform at a one-decade high. The strong recovery in the domestic sector last month was accompanied by strong recovery in domestic demand. This was stated in a private survey report. The Purchasing Managers' Index (PMI) of the service sector, compiled by IHS Markets, stood at 8.10 in October and 6.10 in November. Thus, the figure has come down as compared to October, but this is the second highest figure since July 2011. The November service sector PMI has been the second highest in a decade, the survey report said. A mark above 50 is said to be the development of the area. India, Asia's third-largest economy, has seen rapid economic growth due to the speed of vaccinations and rising government spending. In the September quarter, the country's economic growth rate was 4.50%. The last nine years have seen the fastest expansion of new business in November, excluding October of the curren...

  IT, auto, consumer, metal, power, oil-gas, pharma stocks rise (Gujarat News Correspondent) MUMBAI: A new variant of the Corona has spread across the globe following its discovery in South Africa and now cases are being reported in India as well. Funds, experts put an end to the big correction in the Indian stock markets and created an all-round bullish storm in the stocks. Amid panic, global markets in Europe and Asia continued to soften amid fears that Omicron could quickly end the Corona epidemic in the world by JPMorgan on a global front. Ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC), international crude oil prices were falling sharply amid speculation that OPEC would not immediately cut production. Brent crude was up 3 cents at ૭૨ 2.8 a barrel and Nymex crude was up 3 cents at ૪ 2.31. IT-Software Services, Automobile, Consumer Durables, Power-Capital Goods, Metal-Mining, Oil-Gas Stocks Were living. Sensex jumps to 4000 level again Trad...

(Gujarat News Office) MUMBAI: Overall prices were sluggish in the Mumbai oilseeds market today with fresh demand. Imported palm oil traded at Rs 1,150 per 10 kg on Wednesday, after trading between 200 and 300 tonnes. In Malaysia, palm oil futures were down 3 points, while soyoil prices in the US were projected to rise by 5 to 20 points this evening. Meanwhile, in the Mumbai spot market, the price of cingulum oil was Rs 150 and cottonseed oil was Rs 150. Behind Saurashtra, the price of cingulum oil is Rs. The prices of cotton washed ranged from Rs. In the Mumbai market, imported palm oil was down by Rs 115 today while crude palm oil CPO Kandla was quoted at Rs 1,105. In the futures market, CPO prices fell by Rs 5 while soyoil futures fell by Rs 2.50. Soybean futures fell by Rs 5 while castor futures fell by Rs 20 to Rs 5. Meanwhile, in the Mumbai spot market, soyoil prices fell to Rs 1,150 for digam and Rs 1,403 for ref. The price of sunflower fell to Rs. 1150 and Rs. Mustard prices...

MUMBAI: The dollar rebounded against the rupee in the Mumbai currency market today, surpassing the Rs 5 level in the current market. The dollar opened at Rs 4.01 this morning with a high of Rs 4.05, followed by a low of Rs 4.5 and a low of Rs 4.5. The dollar rose 3 paise today. However, against the major currencies in the global market today, the global dollar index fell by 2.08 points to 6.5 and fell to 7.5, down 0.05 per cent. The rupee weakened against the dollar in the currency market today as the country's trade food trade deficit widened to a record 2.50 billion on rising imports against exports from New India. Meanwhile, in the Mumbai market, the British pound rose by 19 paise to close at Rs 4.5 against the dollar in early trade today. The European currency, the euro, also rose by 3 paise today. The euro was trading at Rs 4.05, up from Rs 7.5. The Japanese yen gained 0.6 per cent against the rupee today, while the Chinese currency remained flat against the rupee.

MUMBAI: Investment inflows through private equity-venture capital (PE-VC) slowed in November. PE-VC had nine deals worth ૪ 2.50 billion in November. In October, there was an investment inflow of ૫ 10.50 billion through 119 contracts. Compared to November 2020, the value of the deal has more than tripled. The total value of the PE-VC agreement reached in November last year was 1.50 billion. As of November of the current calendar year, there were 108 PE-VC contracts valued at 50 billion, according to a research report. For the full year 2020, a total of સો 60 billion was invested through 500 deals. Startups in India have been seeing a significant influx of money in recent times. The PE-VC agreement was slow in 2020 due to the impact of Corona. 3% reduction in the amount of funds raised by companies from overseas markets Indian companies raised about ૧ 1.5 billion in overseas markets in October this year, down 3 per cent from the same period last year. Domestic companies raised ૩ 3...

(Gujarat News Office) MUMBAI: Gold and silver prices rose sharply in the Mumbai jewelery market today. World market news was selling. Domestic import costs were lower. The rise in crude oil prices in the global market, which remained softer by about half a per cent late this evening, was also having an impact on gold prices. Meanwhile, gold prices in the world market today fell from ૭૮૫ 15 to ૭૮૬ 16 an ounce to ૭૮ 161 to 12 an ounce. Global silver also tumbled. Silver in global markets fell by 2.50 to ૯ 2.31 and was quoted at ૪૯ 4.5 to ૫ 8.30 today. Falling prices in the jewelery market also slowed new demand behind the world market. Byro was seen in a wait-and-see mood. In the Ahmedabad market today, the price of silver fell by Rs 1,000 per kg to Rs 2,000 per kg. Ahmedabad gold prices fell by Rs 200 per 10 grams to Rs 7,000 from Rs 8.50 and Rs 900 from Rs 4.50. Platinum, meanwhile, fell by ૯૫૪ 5 to લર 6 to ૯૪૮ 6 to આજે 8 a barrel today, while palladium was down by ૭૬૪ 12 to ૭૪૫ 12 ...

MUMBAI: Inflationary pressures are hitting not only consumers but also small companies in the fast moving consumer goods (FMCG) sector. Consumption by consumers is declining due to increase in prices. According to a research firm, the share of large manufacturers in the value added of the FMCG industry was 5 per cent in the September quarter, while that of small manufacturers was only 2 per cent. A company with a turnover of over Rs 200 crore is considered a large producer while a company with a turnover below Rs 100 crore is considered a small producer. Compared to the September quarter of last year, the value added of FMCG industry in the September quarter of the current year has been 13.50 per cent. Inflationary pressures and a slowdown in rural consumption affected small producers in the FMCG sector in the September quarter, the report said. As many as 12 per cent of small producers have been knocked out of the market, compared to last year. Rising commodity prices have forced...

New Delhi: Global food prices rose for the fourth consecutive month in November, hitting a ten-year high. The rise was driven by strong demand for wheat and dairy products, the UN Food and Agriculture Organization said. The Food and Agriculture Organization's (FAO) Food Price Index, which tracks the international prices of the world's most traded food commodities, averaged 19.20 points in November. The October figure was 13.20. The November index is the highest since June 2011. On an annual basis, the index has risen by 2.50%. Prices of agricultural commodities rose sharply last year. Declining harvests and strong demand resulted in stronger prices. The FAO's serial price index rose 5.10 per cent in November compared to October. On an annual basis, the growth was 6.50%. Wheat prices have reached their highest level since May 2011. Uncertainty over unseasonal rainfall in Australia and possible changes in export measures in Russia have supported wheat prices. The Dairy P...

MUMBAI: The survey report on manufacturing activity for the month of November, the second day after the release of Gross Domestic Product (GDP) data for the September quarter of the current financial year, has also been encouraging. The manufacturing sector's IHS Market Purchasing Managers' Index (PMI), which stood at 6.50 in October, rose to 6.30 in November. This is the highest PMI since January this year, the survey report said. Thus, the November PMI has been at a ten-month high. A PMI above 50 is considered an extension of that area. Large companies began hiring in November after cutting jobs for three consecutive months. However, the pace of job creation is still slow. The picture for the manufacturing sector in November is rosy, but given the spread of omicron and inflationary conditions, the situation could worsen going forward. November has seen a second surge in employment in the last twenty months. Overall production costs have gone up due to the gap between su...

MUMBAI: The US Federal Reserve's asset purchase program should be considered a few months earlier than previously expected, said Federal Reserve Chairman Jerome Powell. Powell's statement came in response to a question posed during a Senate Banking Committee hearing in Washington. For Indian stock markets, 2021 started with a strong tone. To support the US economy during the Corona era, its central bank launched a ખરીદી 120 billion-a-month bond-buying program, which is now in the process of being cut. The Federal Reserve is scheduling the asset purchase program to be completed by mid-November 205, beginning in November. The Federal Reserve's Open Market Committee is meeting on December 16-17, at which a decision may be taken on early tapping. Powell also told the Banking Committee that the Federal Reserve would make every effort to fight inflation. In the US, October inflation was at a 20-year high of 6 per cent. On the one hand, if the Federal Reserve launches an ear...

MUMBAI: The Securities and Exchange Board of India (SEBI), the regulator of the capital market, has cracked down on individuals and entities involved in a front-running scam using the messaging app Telegram. Sources said that SEBI has conducted search and seizure operations against these units located in Ahmedabad and Mehsana in Gujarat. Supporting circles say the units operated telegram channels, which had thousands of subscribers. It is learned that positions are created in these stocks before the scammers recommend stocks on their channel. Most of the subscribers were trading stocks based on their tips. As a result of which the price increased, the front-running operators were selling their shares to make a profit. The matter is being investigated in detail, an official said. It is worth mentioning that many new investors in the market who are entering the market for the first time are tempted to make deals by falling into the trap of such telegram or WhatsApp group. In 2016, S...

(Gujarat News Office) MUMBAI: Gold prices continued to decline in the Mumbai jewelery market today. Silver prices were falling sharply. Gold prices in the world market today fell from ૭૯૨ 15 to ૭૯૩ 16 an ounce to ૭૮૫ 16 to સમાચાર 17. However, global silver prices fell sharply today, from ૮૪ 4.5 to ૮૫ 7.5 an ounce and were trading at ૯ 4.50 to ૯ 2.31 an ounce. Meanwhile, there were reports that the government had reduced the tariff value used as a benchmark for importing gold and silver import duties in the country. This has led to a reduction in the effective import duty on domestically imported gold and silver, jewelers said. Such tariff value of gold has been reduced from ૫૯૯ 5 to ૫૭૫ 5 per 10 grams. It is learned that the tariff value of silver has been reduced from ૪ 205 to ૭૫ 50 per kg. Meanwhile, in the Ahmedabad jewelery market today, gold prices fell by Rs 200 per 10 grams to Rs 500 from Rs 2.50 and Rs 200 from Rs 4.50. Ahmedabad silver fell by Rs 200 per kg to Rs 2,000 toda...

New Delhi: India's power consumption grew by 7.5 per cent to 100.5 billion units (billion units / BU) in November, according to the Ministry of Power, showing the second consecutive month of improvement. In November last year, the power consumption was 3.2 billion units and in the same month of 2017, it was 2.3 billion units. So, in October this year, the country's electricity consumption increased by 5.5 per cent to 114.50 BU. During November, the highest demand for electricity, or one-day supply, was recorded at 16.12 gigawatts, up from 120.6 gigawatts in the same month last year. According to the data, November saw a recovery in power consumption as well as demand. Experts said that after the lifting of lockdown restrictions by the states, the government's efforts to increase the supply of coal to power plants and improve economic activities would speed up the recovery in power demand as well as consumption. The 12 power plants with a capacity of more than 12 gigawa...

(Gujarat News Office) MUMBAI: Singtel prices fell sharply in the Mumbai oilseeds market today. New sell-offs were halted on the back of a drop in imported edible oils amid signs of a resurgence in global edible oil prices as crude oil rebounds in world markets. However, new demand was also slow. In Malaysia, palm oil futures rose 19 points today, while soyoil prices in the US were in the projection of 4-5 points this evening. At home, there was talk in the market today that Cotton Corporation had reduced the base price of cotton by Rs 200 per cane. In the Mumbai spot market, the price of 10 kg of cingulum oil was Rs 150 today. The price of cottonseed oil was Rs. On the Saurashtra side, the price of cingulum oil rose again to Rs. While the price of cotton washed was Rs. In the Mumbai market, imported palm oil was priced at Rs 115 to Rs 1,150 while crude palm oil CPO Kandla was priced at Rs 1,115. In the futures market, CPO prices rose by Rs 2.50 and soyoil futures by Rs 2.50. Soybean...

Investors' wealth increased by Rs 2.11 lakh crore to Rs 4.5 lakh crore (Gujarat News Correspondent) MUMBAI: Contrary to global market cautiousness over the new omicron form of the coronavirus, India's economic growth in the Indian stock market today is projected at 7.5 per cent of GDP as well as a record Rs 1.5 lakh crore in GST collection in November 2021. Expecting growth to continue in the coming days, the funds rebounded sharply in stocks, pushing the Sensex above 7,000 and the Nifty above 15,000. Amid reports of a new omikron virus spreading rapidly in countries including Germany and Korea, and Jerome Powell's statement on early bond tapping in the US, the Dow Jones index fell 3 points in US stock markets and the Nasdaq 3 points yesterday. Brent crude rose as much as 5 per cent this evening amid signs of no increase in production ahead of a meeting of countries. Were living. In banking-finance, metal-mining, automobile, power-capital goods and IT stocks, the Sensex s...