metal stocks: Hindalco, Tata Steel and other metal stocks rally up to 4%. Here’s why

metal stocks: Hindalco, Tata Steel and other metal stocks rally up to 4%. Here’s why

Shares of metal companies like Vedanta, National Aluminium (NALCO) and Tata Steel among others continued their rally for the second consecutive session today, rising up to 4% as China’s central bank announced broad monetary stimulus and property market support measures to revive the economy. Shares of NALCO surged by 4.2 % to day’s high of … Read more

Gold’s appeal as haven rises in a tumultuous week as US economic concerns weigh on Street

Gold’s appeal as haven rises in a tumultuous week as US economic concerns weigh on Street

Spot gold closed with a loss of 0.23% at $2440 on Friday. However, the metal was up 2.30% on the week, a data and event packed week, as the US yields and the Dollar Index pummeled on the economic concerns. In Friday’s session, initially, spot gold surged on a weak non-farm payroll report and came … Read more

US Unemployment Rate Increases For Fourth Straight Month

US Unemployment Rate Increases For Fourth Straight Month

WASHINGTON (AP) — The U.S. economy suffered an unexpected setback in July, as hiring fell sharply and the unemployment rate rose for the fourth straight month as sustained higher interest rates take a toll on businesses and consumers. Friday’s report from the Labor Department showed that employers added just 114,000 jobs in July – 35% … Read more

Japanese Stocks: Japanese Stocks, Bonds Fall Ahead of BOJ Decision: Markets wrap

Japanese Stocks: Japanese Stocks, Bonds Fall Ahead of BOJ Decision: Markets wrap

Japanese stocks dropped and government bond yields rose ahead of a potentially market-moving decision from the nation’s central bank, the highlight of an event-packed day in Asia. Equity benchmarks dropped more than 1% in Japan. Those in South Korea climbed, buoyed by gains in Samsung Electronics Co. after the chipmaker reported its fastest pace of … Read more

European Central Bank lowers rates after Bank of Canada cut – National

European Central Bank lowers rates after Bank of Canada cut – National

The European Central Bank cut borrowing costs from record highs on Thursday, acknowledging progress in its battle against high inflation but also signaling that fight had yet to be won as inflation was set to remain too high until next year. Inflation in the 20 countries that share the euro has fallen from more than … Read more

RBI: RBI: Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity

RBI: RBI: Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity

Mumbai: In a move that will ease the prevailing tight liquidity conditions in the banking system, the Reserve Bank of India on Friday said the Centre plans to buy back Rs 40,000 crore worth of government securities on May 9, the first such repurchase since 2018. The unexpected move is also seen bringing down yields … Read more

RBI: RBI’s dollar purchases in Feb highest since June 2021

RBI: RBI’s dollar purchases in Feb highest since June 2021

Mumbai: The Reserve Bank of India (RBI) bought $8.5 billion in the foreign exchange market on a net basis in February, the highest net purchase by the central bank in 32 months, latest data showed. In January, the RBI had net purchased $1.9 billion in the spot market, the central bank’s April 2023 Bulletin showed. … Read more

RBI: RBI’s nimble and flexible in managing liquidity: Guv

RBI: RBI’s nimble and flexible in managing liquidity: Guv

Mumbai: The Reserve Bank of India (RBI) will inject or absorb funds in the banking system in a nimble manner, depending on deficit or surplus conditions, top central bank officials said, adding that when interest rates are the principal tool of monetary policy, liquidity is used to achieve a certain rate. “As (RBI) governor has … Read more

RBI: Effective rates now largely higher than repo rate

RBI: Effective rates now largely higher than repo rate

Mumbai: The Monetary Policy Committee has not officially raised interest rates for a year, but its novel stance of “focussing on withdrawal of accommodation” has led to much tighter financial conditions than the traditional rate hike stance of “calibrated tightening”, effectively delivering a rate hike without touching the policy rate. An analysis of the weighted … Read more

RBI: ESMA likely to seek board help to resolve stalemate with RBI

RBI: ESMA likely to seek board help to resolve stalemate with RBI

Mumbai: The European Securities and Markets Authority (ESMA) may approach its board to seek ways to resolve a regulatory stalemate with the Reserve Bank of India (RBI) which poses roadblocks to billions of dollars of bond and derivatives trade by European banks in India, said people familiar with the matter. The developments come at a … Read more