Market Bizzz

Gold is highly sensitive to rising U.S. interest rates, as that increase the opportunity cost of holding the non-yielding metal. Euro zone inflation surged more than expected in October, data showed on Monday, fuelling expectations that the European Central Bank will press on with big interest rate hikes despite economic growth slowing.

Against the Japanese yen, the greenback was 0.44% higher at 148.08, particularly helped by the Bank of Japan’s (BOJ) decision to keep ultra-low interest rates on Friday, and BOJ Governor Haruhiko Kuroda’s still-dovish comments in the face of rising interest rates elsewhere.

“In September 2022, the finance ministry cleared a proposal to convert Vi’s Rs 16,130 crore worth of accrued interest on deferred AGR-related dues into equity, and now DoT needs to finalise the transaction. (But) as per company law provisions, any equity infusion cannot be below par value (Rs 10), and hence the equity conversion would only be decided once the stock price stabilises above Rs 10,” Indus said .

IOC as well as other state-owned fuel retailers had booked heavy losses in the first quarter of the current fiscal as they did not revise petrol, diesel and cooking gas LPG prices in line with the cost to help the government contain runaway inflation.

We believe the PSU banking space is more of a play with the short-term perspective because many of them, whenever traction comes up and builds up in the space, definitely performs but with the short term perspective.

While earlier generations got lucky with long-term real estate and equity bull markets that helped create a retirement corpus, he said it is unlikely to repeat in the future.

Revenue from Flipkart’s marketplace services remained largely flat at Rs 2,823 crore while that from advertisements increased 50% to Rs 2,083 crore. The Indian company is the top contributor to parent Walmart’s ad revenue globally.

All major U.S. indexes ended the session up about 2.5% or more, with the S&P and the Nasdaq notching their second straight weekly gains. The blue-chip Dow posted its fourth consecutive Friday-to-Friday advance and its biggest weekly percentage gain since May.