MARKET DEMAND
Gold rebounds by Rs 1,200 to reclaim nearly two-month high level of Rs 75,550
Gold prices bounced by Rs 1,200 to hit nearly a two-month high level of Rs 75,550 per 10 grams in the national capital on Friday, tracking a buying rush in domestic markets by jewellers amid a firm global trends. The precious metal had closed at Rs 74,350 per 10 grams on Thursday.
Gold prices surge ahead of Onam as ECB cuts rates and Fed decision looms
Gold has become precious ahead of Onam, a festival celebrated in Kerala which falls on September 15. As the European Central Bank (ECB) cut the rate by a 25 basis point yesterday, gold and silver prices are showing an upward trajectory.
Passenger vehicle wholesales dip 2 pc in August as OEMs cut dispatches
Domestic passenger vehicle wholesales in India saw a slight decline of about 2 per cent year-on-year in August, as companies reduced dispatches to manage dealer inventory amid lower demand. According to SIAM, total passenger vehicle dispatches stood at 3,52,921 units compared to 3,59,228 units in August 2023. However, two-wheeler wholesales rose by 9 per cent to 17,11,662 units. The festive season and government schemes are expected to boost future demand.
Signs of recession? Morgan Stanley cuts Brent crude price view as market signals demand softness
Morgan Stanley has reduced its Brent crude oil forecasts, citing demand weakness akin to recession periods. Brent crude futures hit their lowest levels since December 2021. The bank expects oil markets to remain tight in the third quarter and move towards a surplus by 2025, with prices stabilizing around $75 per barrel.
What's behind the recent downturn in metals and energy prices? Peter McGuire answers
So, we are really just seeing where we are with rate policy and you have also got to understand we are at record high territory when it comes to equity markets.
Brent rises 0.4% to $73/bbl after US jobs data, but heads for weekly drop
Oil pared gains on Friday after data showed U.S. employment increased less than expected in August, and was on track for a heavy weekly loss as demand concerns outweighed a delay to supply increases by OPEC+ producers.
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Gold rises Rs 100; silver bounces Rs 1,200
Silver prices surged Rs 1,200 to Rs 85,800 per kilogram, while gold rose Rs 100 to Rs 74,200 per 10 grams in the national capital on Friday, according to the All India Sarafa Association. In the previous session, the precious metal of 99.9 per cent purity had ended at Rs 74,100 per 10 gram.
Gold climbs Rs 500 to Rs 74,100 per 10 grams; silver rallies Rs 1,000
Gold prices climbed by Rs 500 to Rs 74,100 per 10 grams in the national capital on Thursday due to fresh demand by jewellers amid a strong trend in the overseas markets. The precious metal had closed at Rs 73,600 per 10 grams in the previous close on Wednesday.
Indian steel industry overview: Cementing a global presence
India's steel market is set for a significant expansion, propelled by government infrastructure investments, private sector funding, and the thriving automotive industry. The country's rising population and rapid urbanization further fuel the surge in steel demand.
Diesel dilemma: Demand drop in India and China puts pressure on crude oil prices
Chinese and Indian diesel markets are showing signs of a slowdown, potentially leading to weaker crude oil prices. In China, diesel demand is contracting, while in India, consumption growth has slowed significantly. This trend is impacting refiners' profits and contributing to concerns about a global oil glut.
Axis Bank raises Rs 3,925 crore via infrastructure bonds at 7.45% coupon
Axis Bank on Wednesday raised Rs 3,925 crore through the sale of 10-year infrastructure bonds, thus raising long-term capital to fund firm loan demand amid lagging deposit growth in the banking sector.
Rural demand picking up; these 4 segments will do well now: Ajay Bagga
Ajay Bagga, a market expert, discusses the positive outlook for FMCG, jewellery, and gold loan companies due to rising rural demand. He also highlights concerns about IPOs driven by liquidity and overvaluation. The cement sector faces challenges with overcapacity, while the media sector needs better governance and scale to grow.
Oil extends losses on signs of end to Libyan dispute, demand concerns
Oil prices dropped further on Wednesday amid hopes of resolving Libya's political dispute that halted exports and concerns over global demand. Brent crude for November fell to $73.47, while U.S. West Texas Intermediate for October declined to $70.03. Weak economic indicators from China and the U.S. also pressured the market.
Bank of Baroda may raise up to Rs 5,000 crore through infra bonds in coming days
Bank of Baroda is likely to raise up to Rs 5,000 crore through the issuance of infrastructure bonds in coming days, as the state-owned lender looks to garner long-term funds amidst firm demand for credit.
Europe's STOXX 600 falls ahead of data-intensive week
"Everyone is taking a breather after a pretty hectic August in terms of market price action at least and really looking for signals on the macro side that the soft landing scenarios are in place and that central banks can begin to lower rates," said Richard Flax, chief investment officer of Moneyfarm.
Gold prices to face pressure ahead, buy on dip for target price of Rs 76,000/10 gm: Motilal Oswal
Motilal Oswal maintains a ‘buy on dip’ stance for gold, predicting support at Rs. 69,500 and targets of Rs. 76,000. Despite volatility from geopolitical tensions and economic uncertainties, gold's role as a safe-haven asset remains strong in 2024.
Rupee rises 3 paise to close at 83.86 against US dollar
The rupee consolidated in a narrow range and settled for the day higher by 3 paise at 83.86 (provisional) against the American currency on Friday, supported by a firm trend in domestic equities and the weakness of the American currency in the overseas market. Forex traders said the rupee gained on Friday as domestic markets touched fresh record highs.
Sudip Bandyopadhyay on whether it is a good time to book profits in Trent
Of course, we can debate the valuations and things like that, but fundamentally IT as a business should do well in the near future. As far as FMCG is concerned, the reason, again, I must mention that rural demand was really-really weak and that has now started improving. The green shoots are visible.
HCLTech eyes new revenue streams to diversify risks
To capitalise on new growth avenues, Shiv Nadar-founded IT services company HCLTech is looking to strategically expand its presence in markets like India, Africa, and the Middle East. HCLTech outlined its growth strategies to more than 100 analysts who attended an ‘Investor Day 2024’ meet in Mumbai.
FOMO, retail rush and Sebi warnings! What's actually happening in SME IPO market
SME IPOs have been notably popular, with nearly all retail categories fully subscribed and many achieving up to 500 times or more subscription. Listings too have soared, triggering huge debate and coercive action from the regulator.
ICICI Securities PD looks to augment debt market play, raises Rs 300 crore via bonds
ICICI Securities Primary Dealership has raised Rs 300 crore through the issuance of bonds as the country’s largest standalone primary dealer looks to augment capital and boost operations at a time when various factors, such as India’s inclusion in a global bond index, have led to a favourable bond market outlook.
Gold climbs Rs 550 to Rs 74,350 per 10 gm; silver rallies Rs 1,200
Gold prices climbed Rs 550 to Rs 74,350 per 10 grams in the national capital on Tuesday on the back of fresh demand from local jewellers. The precious metal of 99.9 per cent purity had closed at Rs 73,800 per 10 grams in the previous session on Friday.
Resourceful Automobile's Rs 12-crore IPO oversubscribed 419 times; attracts bid for Rs 4,800 crore
The recent Rs 12 crore initial public offering of Resourceful Automobile, a Delhi-based company with just two outlets and a workforce of eight, has taken the market by storm with the issue receiving bids worth close to Rs 4,800 crore.
India's first perpetual bond issue since valuation rule tweak sees strong interest
India's first additional Tier I perpetual bond issuance after recent rule changes to make them more appealing was sold at a lower-than-expected coupon, indicating a revival in demand for such papers, four merchant bankers said on Tuesday.
Asian stocks fluctuate as Nvidia earnings awaited: Markets wrap
Asian markets moved in narrow ranges following declines in tech giants dragging Wall Street down. Japanese and South Korean stocks turned slightly positive, with mild gains in Australia. Nvidia earnings, expected to be strong, could impact the market significantly. The Fed’s potential rate cuts and China’s trade tensions with Canada are also under scrutiny.
Here's why Siddhartha Khemka is bullish on real estate sector
Lot of sectors are dependent on the rural sector and with the monsoon season this year being good and the upcoming festive season, we believe that could lead to a big demand for a whole host of sectors including the consumers, the durables, the automobiles, the agri-related sectors and that should kind of drive the earnings growth for the remaining part of the year.
Indian cement makers to invest Rs 1.25 lakh cr in 2 years to meet growing demand
The Indian cement industry is planning a capital expenditure of around Rs 1.25 lakh crore for FY25 to FY27 to meet increasing demand, according to a report by CRISIL. This will add 130 million tonnes of cement grinding capacity. The sector’s credit profiles are expected to remain stable due to low capex intensity and strong balance sheets. Major players such as UltraTech and Adani Group are leading the expansion. The top five cement manufacturers held around 54 per cent of the market share in FY24, indicating significant consolidation in the industry.
OPEC+ has limited scope to increase supplies to oil market : BP chief economist
Oil producer club OPEC+ faces limited scope to increase supply as US, Brazil, and Guyana boost output, meeting global demand growth, BP's Spencer Dale states. OPEC+ has kept 5.8 million barrels per day off the market and plans to gradually return supply starting October. Dale believes OPEC will maintain influence in the oil market despite rising non-OPEC supplies. He predicts EVs will impact oil demand significantly by the 2040s, with rapid electric vehicle adoption in China.
Rural demand in FMCG sector will grow more in the coming quarters: Axis Securities
In Q1FY25, India's FMCG sector saw significant growth, led by a strong recovery in rural demand. Companies faced headwinds like competitive intensity and rising raw material prices but managed to post revenue gains. Strategic rural distribution and marketing investments are expected to drive future success.
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