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.

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Market News - Silver opens above Rs 50,000 a kg in Mumbai, gold at Rs 39,000-plus

Standard gold opened at Rs 39,091 for 10 grams, trading for the first time above Rs 39,000. It closed at Rs 39,031. Including a three percent goods and services tax, the price is above Rs 40,000. After six years, silver is trading above Rs 50,000 a kilo in the physical market here. Its global prices at $19.4 an ounce is a three-year high. The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets. At Zaveri Bazar, the spot market price opened at Rs 50,125 a kilo and closed a little lower at Rs 49,950 — still up four percent from Tuesday’s close. Gold prices fell by Rs 372 to Rs 39,278 per 10 gram in the national capital on Friday due to weak demand and strong rupee, according to HDFC Securities. In tandem with gold prices, silver also dropped by Rs 1,273 to Rs 49,187 per kilogram here. “Gold declined on weak investment demand and stronger rupee. The spot rupee gained by 21 paise against the dollar du...

Commodity Market - Oil prices extend losses, Gold rises for second straight day

Silver futures slumped by Rs 318 at Rs 44,908 per kg on October 16 as participants cut down their bets in line with sluggish trend at overseas markets. On the Multi Commodity Exchange, silver contracts for December delivery fell by Rs 318, or 0.70 percent, at Rs 44,908 per kg in a business turnover of 7,274 lots. Crude oil futures fell by Rs 27 to Rs 3,797 per barrel on October 16 after participants reduced positions even as oil strengthened in global markets. On the Multi Commodity Exchange, crude oil for delivery in October dropped by Rs 27, or 0.71 percent, to Rs 3,797 per barrel with a business volume of 34,024 lots. For November delivery, crude oil was quoting lower by Rs 33, or 0.86 percent, to Rs 3,811 per barrel with 1,350 lots. Gold prices jumped Rs 157 to Rs 38,644 per 10 gram in the Mumbai bullion market. The rate of 10 grams 22-carat gold in Mumbai was at Rs 35,398 plus 3 percent GST while 24-carat 10 gram was at Rs 38,664 plus GST. Silver gained Rs 41...

Market News - Coal India workers strike hit production,Retail onion prices hit

Protests by workers at Coal India Ltd on September 24 hit output by about 56%, a senior company official told Reuters. The workers' strike over implementation of reforms including allowing 100% foreign direct investment (FDI) in coal mining - which India approved last month to attract global miners to India - paralyzed operations. The company, which accounts for over four-fifths of India's coal output and employs about 300,000 people, registered a 30% attendance due to the strike. India depends on coal-based utilities for three-quarters of its electricity generation. Coal India produced a total of 466,000 tonnes of coal on September 24, which compared to a business-as-usual production estimate of 1.05 million tonnes, the official said. Petrol and diesel prices today: The oil marketing companies (OMCs) on Tuesday raised the prices of petrol and diesel for the eighth straight day following a drone attack on the Saudi oil plants. In the last eight days, petrol prices...

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