Gold prices appreciated by Rs 250 to hit a fresh all-time high of Rs 78,700 per 10 grams on Monday on account of consistent buying support from jewellers and firm trends in the overseas markets. The precious metal had settled at Rs 78,450 per 10 grams in the previous close on Friday.
Posts in category Economic Times
Gainers & Losers: Adani Ports among 6 stocks that hogged limelight today (07-10-2024)
Domestic indices Sensex and Nifty50 declined for the sixth consecutive session, impacted by geopolitical tensions.
Stock market update: Stocks that hit 52-week highs on NSE in today’s trade (07-10-2024)
AstraZeneca, Visa Steel Ltd, Diffusion Engineers, Ujaas Energy and Power & Instrument, hit their fresh 52-week highs during the day.
Adani Ports shares tumble 5% as Iran-Israel tensions escalate (07-10-2024)
Shares of Adani Ports fell 5.3% in intraday trading, hitting a low of Rs 1,337.30 on the BSE, due to escalating conflicts in the Middle East. Adani Ports, which operates Israel’s largest port in Haifa with a 70% stake, could face operational challenges if the situation worsens, despite its strategic presence in the Mediterranean.
Market Wrap: Sensex, Nifty close lower for sixth session amid Middle East tensions (07-10-2024)
Sensex and Nifty50 fell for the sixth consecutive session on Monday. Middle East tensions and softer corporate earnings expectations affected investor sentiment. Sensex dropped by 638 points and Nifty declined by 218 points. Adani Ports, NTPC, SBI, and Power Grid were the top laggards, while IT sector saw gains led by LTIMindtree and Mphasis.
Rupee ends flat, ducking pressure on regional FX, as RBI maintains grip (07-10-2024)
The Indian rupee ended nearly unchanged on Monday, sidestepping a decline in its regional peers and pressure from equity-related outflows, as the Reserve Bank of India’s firm grip on the currency limited losses, traders said.
Northern Arc launches ‘Finserv Fund’ to drive financial inclusion; aims to raise Rs 1500 cr (07-10-2024)
Northern Arc launched a Category II AIF fund, Finserv Fund, aiming to raise Rs 1,500 crore. Finserv Fund will leverage Northern Arc’s experience, innovative solutions, and robust risk management practices.
Garuda Construction IPO opens tomorrow. Price band, GMP among 10 things to know before subscribing (07-10-2024)
Garuda Construction IPO opens on October 8 and closes on October 10. The company provides end-to-end civil construction services. The Indian construction sector is expected to grow to Rs 6.49 lakh crore by FY30. Garuda Construction has a GMP of Rs 22, indicating a 23% premium. The IPO includes a fresh issue of Rs 173 crore and an OFS of Rs 90 crore.
Asian Paints, Berger Paints Q2 numbers seen weak but will continue to dominate 5 years down the road: Abneesh Roy (07-10-2024)
Abneesh Roy of Nuvama Institutional Equities discusses the expected weak Q2 results for major paint companies like Asian Paints and Berger Paints. He highlights potential consolidation in the sector and comments on the positive impact of duty cuts on jewelry sales for Kalyan and Titan. He also shares insights on the competition in quick commerce affecting companies like DMart.
Sensex crashes 5,100 points in 6 days; all eyes on Chinese dragon tomorrow (07-10-2024)
Foreign institutional investors are rapidly withdrawing from Indian equities, contributing to a significant drop in Sensex due to China’s aggressive fiscal measures attracting investments. Indian market concerns include high oil prices, IPO booms, and retail investor appetite, despite China’s long-term structural issues.