Market Bizzz

​​​Higher interest rates increase the opportunity cost of holding the non-yielding bullion and boosts the dollar. The dollar index inched 0.1% lower having earlier hit a 20-year peak. Stronger-than-expected platinum shipments to China in the first half of the year spurred shortages elsewhere, as supply declined from mines and recycling, the World Platinum Investment Council said on Monday.

India’s biggest gas importer will invest Rs 40,000 crore in the next five years for expanding import infrastructure as well as foraying into new business to boost profitability to Rs 10,000 crore. Petronet, which operates two LNG import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm’s latest annual report.

The pound has also been weighed down by concerns over rising energy costs. British foreign minister Liz Truss said over the weekend she would set out immediate action to tackle rising energy bills and increase energy supplies if she is, as expected, to become Britain’s next prime minister.

The US dollar has been on a rise and has tested 2002 highs on multiple occasions this year. It is seen as the preferred asset as the US economy is expected to do better than other economies and as the US Fed is expected to lead other central banks in monetary tightening.

As per the current technical setup, any sustainable directional move will occur only if Nifty moves past 17,700 levels or slips below 17,100 on a closing basis. A directional bias would be established only if Nifty moves past 17,700 or slips below 17,100 levels. Unless that happens, we will see the market oscillating back and forth in a defined range.

The shares were offloaded at an average price of Rs 1,126.67 apiece, taking the transaction value to Rs 56.33 crore.

The Tuticorin-based bank proposes to utilise the proceeds from the issue for augmenting its Tier-I capital base to meet future capital requirements.Tamilnad Mercantile Bank is one of the oldest private sector banks in the country with a history of almost 100 years. It offers a wide range of banking and financial

The unregulated platforms are offering algorithmic trading services or strategies to investors for automated execution of trades. Such services and strategies are being marketed with “claims” of high returns on investment, Sebi said in a circular.