New Delhi, Sept 2:Gold in the national capital rose by Rs 47 to Rs 50,729 per 10 grams on Friday amid a rise in international precious metal prices along with depreciation in rupee, according to HDFC Securities.
The yellow metal had closed at Rs 50,682 per 10 grams in the previous trade.
Silver also jumped by Rs 496 to Rs 53,429 per kg from Rs 52,933 per kg in the previous trade.
The rupee depreciated by 14 paise to 79.70 against the US dollar in opening trade on Friday, weighed down by strength of the American currency overseas.
In the international market, gold was trading higher at USD 1,702 per ounce while silver was flat at USD 17.96 per ounce.
“Gold prices traded firm with spot gold prices at COMEX trading 0.42 per cent up at USD 1,702 per ounce on Friday,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities. (agencies)
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BIZ-STOCKS-CLOSE
Markets settle flat in choppy trade
Mumbai, Sept 2:
Benchmark indices ended on a flat note on Friday after facing bouts of volatility during the day amid mixed global market trends.
The BSE Sensex inched up 36.74 points or 0.06 per cent to settle at 58,803.33. During the day, it hit a high of 59,108.66 and a low of 58,558.64.
The NSE Nifty dipped 3.35 points or 0.02 per cent to end at 17,539.45.
From the Sensex pack, ITC, HDFC, Larsen & Toubro, Axis Bank, HDFC Bank, NTPC, Kotak Mahindra Bank and State Bank of India were among the gainers.
However, Maruti, Reliance Industries, IndusInd Bank, UltraTech Cement, Nestle and Tata Steel were among the laggards.
Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong ended lower, while Shanghai settled in the green.
Bourses in Europe were trading in the green during mid-session deals. The US markets had ended mostly higher on Thursday.
“The market has struggled for a firm direction today as global markets were largely under selling pressure ahead of the release of US jobs data, which could provide insight into upcoming Fed actions.
“Oil prices rose ahead of the OPEC+ meeting on expectation of a reduction in output, despite the fact that weak global growth prospects remain a concern,” said Vinod Nair, Head of Research at Geojit Financial Services.
Meanwhile, the international oil benchmark Brent crude climbed 2.01 per cent to USD 94.22 per barrel.
Foreign institutional investors (FIIs) offloaded shares worth a net Rs 2,290.31 crore on Thursday, as per exchange data. (AGENCIES)
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BIZ-RUPEE-CLOSE
Rupee falls 26 paise to close at 79.82 against US dollar
Mumbai, Sept 2:
The rupee declined by 26 paise to close at 79.82 (provisional) against the US currency on Friday tracking Asian peers and strong dollar demand from importers.
At the interbank foreign exchange market, the domestic currency opened at 79.63 per dollar. It hovered in a range of 79.61 to 79.83 during the session.
The domestic unit finally settled at 79.82, down 26 paise over its previous close of 79.56.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.33 per cent lower at 109.32.
Brent crude futures, the global oil benchmark, rose by 2.10 per cent to USD 94.30 per barrel ahead of the meeting of oil cartel OPEC and other producers which are likely to discuss output cuts.
“Taking cues from the regional currencies, the rupee depreciated against the American dollar. The risk-off moods and higher crude oil prices also weighed on the local unit,” said Dilip Parmar, Research Analyst, HDFC Securities.
Parmar further said that technically, spot USDINR back above the short-term moving averages while the oscillators remained sideways indicating range-bound trades in the near term. The pair is having resistance at 80.13 and support at 79.20.
On the domestic equity market front, key stock indices closed almost flat in a volatile trade. The BSE Sensex ended 36.74 points or 0.06 per cent higher at 58,803.33 while the broader NSE Nifty declined 3.35 points or 0.02 per cent to 17,539.45.
Foreign institutional investors turned net sellers in the capital market on Thursday as they offloaded shares worth Rs 2,290.31 crore, as per exchange data. (AGENCIES)
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