New Delhi, Sept 13: Gold in the national capital on Monday rose by Rs 82 to Rs 45,952 per 10 gram in line with the firm global trends and rupee depreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 45,870 per 10 gram.
“Spot gold prices for 24 carat in Delhi rose by Rs 82 in line with firm COMEX gold prices and rupee depreciation,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
In contrast, silver tumbled Rs 413 to Rs 61,907 per kilogram from Rs 62,320 per kilogram in the previous trade.
The Indian rupee depreciated 18 paise to 73.68 against the US dollar in opening trade on Monday.
In the international market, gold was trading with gains at USD 1,790 per ounce and silver was flat at USD 23.66 per ounce.
“Gold prices kept a higher trading range, halting the previous decline despite a stronger dollar,” he added. (AGENCIES)
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BIZ-STOCKS-CLOSE
Sensex drops 127 pts; RIL tumbles over 2 pc
Mumbai, Sept 13:
Equity benchmark Sensex dropped 127 points on Monday, weighed by losses in index heavyweights Reliance Industries, ICICI Bank and HDFC Bank.
The 30-share BSE index ended 127.31 points or 0.22 per cent lower at 58,177.76, while the broader NSE Nifty slipped 13.95 points or 0.08 per cent to 17,355.30.
Reliance Industries was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra.
On the other hand, TCS, Bharti Airtel, Bajaj Finserv, Tata Steel, Maruti and Kotak Bank were among the gainers.
“Indian equity benchmarks continued to trade in the red zone in the afternoon session. On the global front, Asian markets were trading mixed amid a surge in US inflation to a record high…(and) concerns the Federal Reserve will be forced to tighten monetary policy sooner than later,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo closed in the positive territory, while Hong Kong ended in the red.
Equities in Europe were trading with significant gains in mid-session deals.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 423.44 crore on Thursday, as per provisional exchange data.
Meanwhile, international oil benchmark Brent crude rose 0.91 per cent to USD 73.58 per barrel. (AGENCIES)
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BIZ-RUPEE-CLOSE
Rupee slumps 18 paise to close at 73.68 against US dollar
Mumbai, Sept 13:
The Indian rupee fell 18 paise to close at 73.68 (provisional) against the US dollar on Monday, tracking a strong American currency in the overseas market and muted trend in domestic equities.
At the interbank foreign exchange market, the local currency opened at 73.63 and dropped to a low of 73.73 in the day trade.
The domestic unit finally settled at 73.68 against the greenback, down 18 paise over its previous close.
In the previous session on Thursday, the rupee had settled at 73.50 against the US dollar.
The forex market was closed on Friday on account of ‘Ganesh Chaturthi’.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.19 per cent higher at 92.75.
“Indian rupee started the week on back foot amid recovery in dollar ahead of US inflation data on Tuesday and lacklustre risk assets,” said Dilip Parmar, Research Analyst, HDFC Securities.
Parmar further noted that Monday’s price actions in rupee were on back of recovery in dollar index on Friday, the day the domestic markets were closed on account of ‘Ganesh Chaturthi’.
Until the market makes up its mind, perhaps not until the next Federal Open Market Committee (FOMC) scheduled next week, rather dull trading conditions are likely to persist, he noted.
Brent crude futures, the global oil benchmark, rose 1.12 per cent to USD 73.74 per barrel.
On the domestic equity market front, the BSE Sensex ended 127.31 points or 0.22 per cent lower at 58,177.76, while the broader NSE Nifty declined 13.95 points or 0.08 per cent to 17,355.30.
Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 423.44 crore, as per exchange data. (AGENCIES)
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