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Market News - Nifty ends at 10,798, Gold, silver prices today record highs

Gold, silver prices today back near record highs as rupee tumbles - Gold prices in India remain near record highs and a sharp surge this year has hurt demand. Global slowdown fears and US-China trade war has pushed gold prices up 20% so far this year.


The yellow metal hit an all-time high, breaching the crucial Rs 40,000 per 10-gram level in the domestic bullion market, thus indicating the increased consumers' demand for safe-haven assets. 

Rupee hits fresh 2019 low; likely to trade around 71-73.25 per dollar in coming weeks - The state of affairs continues to be a little jittery at the moment and one should look to hedge against a weaker INR in the coming weeks.

 The Rupee continued to spiral down despite a 35 bps rate cut from the Reserve Bank of India (RBI) last month. The measures taken by RBI to revive the economy failed as the Rupee continued to fall beyond the 72 marks against the US dollar, clocking a fresh low of this year.

IDBI Bank surges 10% after Cabinet approves Rs 9,257 crore capital infusion Shares of IDBI Bank surged 10 percent to Rs 29.65 per share intraday on Tuesday after Union Cabinet approved one-time infusion of fresh capital to the tune of Rs 9,257 crore by both Government and Life Insurance Corporation (LIC). Of the above amount, Rs 4,700 crore will be infused by LIC and Rs 4,557 crore will be infused by the government.

Investors Lose Nearly Rs 3 Lakh Crore As Sensex Clocks Worst Fall In 11 Months Indian equity investors lost around Rs 2.8 lakh crore of wealth today, according to data available with Bombay Stock Exchange. That came after Indian equity benchmark—S&P BSE Sensex clocked its worst fall since October 2018. 
The 31-share index closed 2.06 percent or 770 points lower at 36,562.91. The NSE Nifty 50 closed 2.04 percent lower at 10,797.90. The broader markets represented by the NSE Nifty 500 Index ended 1.95 percent lower.

DHFL rises 3% on the board's approval to convert debt into equity board approved an increase in the authorized share capital of the company. Shares of Dewan Housing Finance Corporation (DHFL) rose 3.5 percent intraday on September 3 after the company approved to convert whole or part of the debt into equity. 

The company board in its meeting held on August 30 approved the conversion of whole or part of the debt into equity shares or other securities of the company, which may result in a change in ownership of the firm.

Market Wrap | Closing Bell | Gold Prices | Silver | Indian Rupee | Economy




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