New Delhi, Nov 8: Gold price in the national capital on Monday declined by Rs 8 to Rs 47,004 per 10 grams in-line with muted global trends as well as rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had settled at Rs 47,012 per 10 grams.
Silver gained Rs 216 to Rs 63,262 per kilogram from Rs 63,046 per kilogram in the previous trade.
The rupee surged 27 paise to 74.19 against the US dollar in opening trade on Monday.
In the international market, gold traded marginally lower at USD 1,816 per ounce and silver was flat at USD 24.19 per ounce.
“Gold prices traded weak with spot gold prices at COMEX trading 0.08 per cent down at USD 1,816 per ounce on Monday,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said. (AGENCIES)
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BIZ-STOCKS-CLOSE
Sensex rallies 478 pts; Nifty ends above 18,000
Mumbai, Nov 8:
Equity benchmark Sensex rallied 478 points on Monday after gains in index majors HDFC, Infosys and Kotak Bank despite a negative trend in the global markets.
After a volatile session, the 30-share index ended 477.99 points or 0.80 per cent higher at 60,545.61. Similarly, the Nifty surged 151.75 points or 0.85 per cent to 18,068.55.
Titan was the top gainer in the Sensex pack, rising over 4 per cent, followed by UltraTech Cement, Bajaj Finserv, Tech Mahindra, Kotak Bank and HDFC.
On the other hand, IndusInd Bank was the top loser in the Sensex pack, tanking over 10 per cent after the lender admitted to having disbursed 84,000 loans without customer consent in May owing to a “technical glitch”.
M&M, SBI, Maruti, Asian Paints and TCS were also among the laggards.
“Indian market opened on a mixed note after a long holiday week following mixed Asian market cues as investors digest China trade data,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
During the afternoon session, market erased initial losses and traded in green, he said, adding that traders took support of the statement by industry chamber PHDCCI that India’s economic recovery gained momentum in recent months on the back of rapid progress in vaccinations, festive season and consequent improvement in consumer and industry sentiments.
Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive. Stock exchanges in Europe were largely trading in the red in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 1.15 per cent to USD 83.69 per barrel. (agencies)
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BIZ-RUPEE-CLOSE
Rupee gains 43 paise to close
at 74.03 against US dollar
Mumbai, Nov 8:
The rupee gained 43 paise to close at 74.03 (provisional) against the US dollar on Monday as positive domestic equities and a dovish outlook of US Federal Reserve supported the local unit.
At the interbank forex market, the domestic unit opened at 74.25 against the greenback and witnessed an intra-day high of 73.98 and a low of 74.25 during the day’s trade. It finally ended at 74.03 a dollar.
On Thursday, the rupee had settled at 74.46 against the US dollar. The forex market was closed on Friday for ‘Diwali Balipratipada’.
“Rupee traded strong as the FED statement of not being so keen to increase rates early has put pressure on the dollar index and helped rupee scale higher from lows of 74.60 to 74.00. Going ahead, the range for rupee can be seen between 74.20-73.75,” said Jateen Trivedi, Senior Research Analyst at LKP Securities.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 94.28.
On the domestic equity market front, the BSE Sensex advanced 477.99 points or 0.80 per cent to end at 60,545.61, while the broader NSE Nifty jumped 151.75 points or 0.85 per cent to 18,068.55.
Brent crude futures, the global oil benchmark, rose 1 per cent to USD 83.57 per barrel.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 328.11 crore, as per exchange data. (AGENCIES)
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