Market Bizzz

The dollar index rose, making bullion more expensive for buyers holding other currencies. Benchmark U.S. 10-year Treasury yields leaped on Tuesday after bond markets in the United States were closed in the previous session for the Memorial Day holiday, lowering the appeal of zero-yield gold.

Asian shares opened higher on Monday, extending gains on Wall Street, with investors shifting their focus to global economic indicators due this week. Easing of long-running Covid curbs in Shanghai boosted the confidence. MSCI’s index of Asia-Pacific shares outside Japan was up by 1.01 per cent.

The EU is due to meet on Monday and Tuesday to discuss a sixth package of sanctions against Russia for its invasion of Ukraine, which Moscow calls a “special operation” to disarm its neighbour.”I don’t think it would be a stretch to assume that speculators are positioning for a post-EU summit oil market bounce,” said SPI Asset Management managing partner Stephen Innes.

A weaker dollar makes bullion more attractive for buyers holding other currencies. Higher short-term U.S. interest rates and bond yields raise the opportunity cost of holding bullion, which yields nothing. Gold prices edged up on Friday and posted a second consecutive weekly gain, propped up by a pullback in the dollar and U.S Treasury yields

Standalone net profit of Rs 8,859.54 crore, or Rs 7.04 per share, in January-March compared with Rs 6,733.97 crore, or Rs 5.35 a share, in the same period a year back, according to the company’s regulatory filing.

”But if we look at the overall setup, Nifty has added almost 26 lakh shares for this series on the rollover day which shows that there was an addition in the Nifty position. But looking at the oversold territory for most of the sectors, the Nifty has witnessed a smart recovery and now we are trading above the 16,200 level.”

Total income in the quarter dropped to Rs 183.92 crore from Rs 295.46 crore in the year-ago period.or the full fiscal 2021-22, the company reported a consolidated net loss of Rs 429.80 crore, as against Rs 307.12 crore loss in FY21.

Siemens AG, promoter of the company, intends to purchase the LDA Business of Siemens, India. This proposal is based on the plan to carve out Siemens LDA business globally into a separate legal entity.

Accordingly, the regulator modified its interim directions and allowed credit and debit of securities in the accounts of the entities except the securities of Lux Industries.