Gold prices hit a record high of Rs 76,911 per 10 gm, driven by positive global cues and anticipation of further US Fed rate cuts. Geopolitical tensions also support the rally. Colin Shah expects prices to reach $3,000 per troy ounce globally and Rs 78,000 per 10 gm domestically.
Gold remains flat at Rs 76,950 per 10 gram (24-09-2024)
Gold prices remained flat at Rs 76,950 per 10 grams in the national capital on Tuesday amid a firm trend in the overseas markets. On Monday, the precious metal had revisited the all-time high level of Rs 76,950 after a gap of six months, according to market sources.
Tech view: Nifty forms small-bodied indecisive candle as bulls develop cold feet at 26k. How to trade tomorrow (24-09-2024)
Domestic benchmarks are attempting to sustain new highs, driven by the US Fed’s aggressive rate cut. Meanwhile, the Chinese central bank’s rate cut, and additional stimulus measures have positively influenced global investor sentiment, resulting in gains for domestic metal stocks.
Indices end flat amid volatility, China stimulus boosts metal stocks (24-09-2024)
The domestic equity benchmarks closed nearly flat on Tuesday after a volatile session. The benchmarks Sensex and Nifty indices reversed trend after briefly crossing 85,000 and 26,000, respectively. The Chinese central bank’s rate cut and additional stimulus measures positively impacted global investor sentiment, leading to gains in metal stocks. IT and energy stocks also rose. However, PSU banks and FMCG shares declined.
Sebi simplifies process of registration for certain FPI categories (24-09-2024)
To ease onboarding for FPIs and reduce duplication of information, Sebi on Tuesday proposed an abridged version of Common Application Form (CAF) that only requires information unique to the applicant.
Further, the rest of the information will be auto-filled from the depository’s records or certain fields will be disabled if not needed.
Also, the applicants will need to confirm that the previously provided information remains unchanged, Sebi proposed in its consultation paper.
The regulator observed that in case of certain categories of Foreign Portfolio Investor (FPI) applicants like multiple funds under an Investment Manager (IM), sub-funds of a master fund, or schemes of insurance companies, much of their relevant information is already captured in depositories’ CAF module, which can be leveraged without seeking the same from said applicants.
Further, there are certain fields which are exclusive to individual FPI applicants and hence will not be applicable to the applicants …
Japanese yen at three-week low versus dollar; BoJ seems to be in no rush to hike rates (24-09-2024)
The Japanese yen slipped to a near three week low against the dollar on Tuesday as the US currency regained some ground after having slipped to a 14 month low in recent days after US Fed went ahead with a 50bps rate cut and sighted further cuts for the year ahead. Additionally, concerns that the Bank of Japan (BoJ) is not hurrying to raise interest rates further dampened the Japanese currency. BoJ Governor Ueda stated that Japan’s real interest rate remains deeply negative, stimulating the economy and working to push up prices. He also said that “they will raise interest rate if the economy, prices move in line with forecasts shown in quarterly outlook report. Currently, the USDJPY pair is quoting at 144. The yen is down half a percent on the day against the dollar and at its lowest level in 3 weeks.
How to register with SEBI as a Research Analyst? (24-09-2024)
Try to call on the phone numbers BSE has shared on their website. Since this is a transition period (from SEBI to BSE), some delays are expected.
Indian Energy Exchange (IEX) (24-09-2024)
My experiences especially electricity regulators.For example GERC(guj energy regu commi.) and their team (GUVNL,GETCO,MG-DG-UG-PGVCL). they all work in tandem.
Why mentioning particular regional regulator ? GRID-India has their own colleagues (state producers, transmission companies) they all into this.
They want to rely less on 25 Yr PPA agreements and push for short term electricity agreements(trading). Ultimately it shall bring efficient transmission & generation of electricity as well as grid stabilisation.
In my opinion The only thing needs to be ascertained is impact of it on IEX…there is no vagueness, coupling is going to be here and likely reduce IEX’s dominance and earnings potential especially from electricity trading.
How gas exchange, carbon credit exchange contributes to IEX, is another aspect.Both have bright prospect is what i think.
Sharing my understanding, Not an expert of electricity trading.
D- Not invested.