New Delhi, Jan 2: Gold prices rose Rs 154 to Rs 55,397 per 10 grams in the national capital on Monday amid a rise in prices of the precious metal internationally, according to HDFC Securities.
The yellow metal had ended at Rs 55,243 per 10 grams in the previous trade.
Silver, however, declined Rs 17 to Rs 69,831 per kilogram.
“Gold prices traded range bound in the Asian trading hours as most of the western market closed on Monday due to New Year holiday. Investors are waiting for FOMC meeting minutes outcome which will be released on Wednesday late night,” said an analyst at HDFC Securities.
In the overseas market, gold was trading higher at USD 1,824 per ounce while silver was flat at USD 23.95 per ounce.
“After a positive US growth data and ease off in inflation number, it will be very important to keep an eye on data points which show the economic health like the US jobs market and manufacturing PMI from major economies, which is scheduled later this week,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said. (AGENCIES)
&&&
BIZ-STOCKS-CLOSE
Markets climb on first day of trade of New Year
Mumbai, Jan 2:
Equity benchmarks started the first day of trade of the New Year on a positive note and ended with smart gains, propelled by buying in index majors Reliance Industries and ICICI Bank amid a firm trend in European markets.
The 30-share BSE Sensex climbed 327.05 points or 0.54 per cent to settle at 61,167.79 on Monday. During the day, it jumped 382.05 points or 0.62 per cent to 61,222.79.
The broader NSE Nifty advanced 92.15 points or 0.51 per cent to end at 18,197.45.
From the Sensex pack, Tata Steel, Tata Motors, ICICI Bank, Axis Bank, Mahindra & Mahindra, Reliance Industries, NTPC and Bharti Airtel were the prominent winners.
However, Asian Paints, Titan, Tech Mahindra, Nestle and Hindustan Unilever were among the major laggards.
Robust GST collections last month indicate resilience of the economy, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The collections from Goods and Services Tax (GST) grew 15 per cent to Rs 1.49 lakh crore in December 2022, indicating improved manufacturing output and consumption demand, besides better compliance.
India’s manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey.
Elsewhere in Asia, equity markets in Seoul ended lower.
Equity exchanges in Europe were trading in the green in mid-session deals. Markets in the US had ended lower on Friday.
International oil benchmark Brent crude climbed 2.94 per cent to USD 85.91 per barrel.
Foreign Institutional Investors (FIIs) offloaded shares worth a net Rs 2,950.89 crore on Friday, according to exchange data. (AGENCIES)
&&&
BIZ-RUPEE-CLOSE
Rupee falls 14 paise to close at 82.75 against US dollar
Mumbai, Jan 2:
The rupee started the New Year on a muted note, declining 14 paise to close at 82.75 (provisional) against the US dollar on Monday as rising crude oil prices and sustained foreign fund outflows weighed on investor sentiment.
Forex traders said the support from firm domestic equities and weak American currency was negated by the gains in crude oil prices and sustained foreign fund outflows.
At the interbank foreign exchange market, the rupee opened lower at 82.66 against the greenback and witnessed an intra-day high of 82.56 and a low of 82.78.
It finally settled at 82.75, down 14 paise over its previous close.
On the last trading day of 2022, the rupee had settled at 82.61.
“The Indian rupee started the first trading day of the new year with a small loss as many markets remained closed on account of the New year Holiday.
“The rupee was unable to hold the morning gains in absence of inflows. The thin trading volumes, stronger domestic equities and better-than-expected PMI readings were falling short to support the rupee,” said Dilip Parmar, Research Analyst, HDFC Securities.
The near-term focus will remain on the Federal Open Market Committee (FOMC) meeting minutes, scheduled to be released on Wednesday.
“Spot USD-INR is still stuck in a three-week range of 82.50 to 82.95. We believe the said range could be resolved by the weekend as liquidity returns with traders coming back to their desks after the New Year holiday,” Parmar added.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.30 per cent lower at 103.52.
Global oil benchmark Brent crude futures rose 2.94 per cent to USD 85.91 per barrel.
The 30-share BSE Sensex ended 327.05 points or 0.54 per cent higher at 61,167.79, while the broader NSE Nifty climbed 92.15 points or 0.51 per cent to 18,197.45.
Foreign institutional investors (FIIs) remained net sellers in the capital market on Friday, as they offloaded shares worth Rs 2,950.89 crore, as per stock exchange data. (AGENCIES)
^^^
Follow our WhatsApp channel
