Gold prices remained steady at Rs 76,650 per 10 grams and silver at Rs 97,260 per kilogram on March 8. Gold April futures closed at Rs 85,820, and silver May futures ended at Rs 97,280. Analysts predict volatility due to upcoming US economic data. Gold trading is expected between Rs 84,000 and Rs 86,500.
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Under President Trump’s second term, US tariffs are raising concerns about global trade disruptions, indirectly impacting international travel. Despite 2024's milestone of surpassing pre-pandemic passenger traffic levels, growth is stabilizing. Emerging economies like the Middle East and Asia-Pacific are experiencing higher growth. Long-term forecasts predict a significant increase in passenger numbers by 2053.
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Wednesday. While BSE Sensex was above 73,000, Nifty50 was above 22,100.
Maruti Suzuki India Ltd reported a 30% rise in overall wholesales for December 2024, totaling 1,78,248 units. Domestic sales increased, with mini and compact cars showing significant growth. Utility vehicle sales also rose, while Ciaz sedan sales dipped slightly. Exports climbed to 37,419 units.
Moody’s Ratings expects significant foreign direct investment in the insurance sector if the government increases the FDI limit to 100% from 74%. This move, along with improving margins, can attract more foreign insurers, especially with the proposal allowing monoline and composite insurance companies. State-owned insurers' margins have improved due to recent government decisions.
RBI's decision to infuse ₹1.5 lakh crore liquidity boosted banking stocks, leading to a sensex rise of 530 points. Despite a late sell-off, major banks led gains, while foreign funds continued selling. Mid- and small-cap sectors saw declines. Upcoming events, such as the US FOMC meeting and Union Budget, are expected to contribute to market volatility.
Sajjan Jindal of JSW group suggests that Elon Musk's entry into India's electric vehicle market with Tesla will face tough competition from local firms like Tata Motors and Mahindra & Mahindra. Jindal is confident about the success of his own auto venture and plans an all-new EV brand.
Technology stocks surged following a temporary pause in tariffs on phones, computers, and consumer electronics, announced by the Trump administration. Apple shares notably climbed, and Asian tech stocks experienced a boost. Despite the positive market reaction, officials cautioned that tech tariffs are still anticipated in the near future, creating uncertainty about ongoing trade negotiations with China.
Jubilant Bhartia Group is set to acquire a 40% stake in Hindustan Coca-Cola Holdings (HCCH), the parent company of India's largest Coca-Cola bottler, for over Rs 10,000 crore. This investment reflects the group's confidence in India's growing beverage market and aligns with their expansion strategy into high-growth sectors. The deal awaits regulatory approval.
Adani Total Gas Limited (ATGL) posted a net profit of Rs 142.38 crore for Q4 2024, marking a 19.4% decline YoY. However, revenues from operations increased by 12.5% YoY. Despite reduced APM gas allocation, ATGL ensured uninterrupted CNG supply and focused on expanding its network, adding new CNG stations and connections, including the new Jalandhar GA.
Latest Post Office Small Savings Schemes Rates: The government has announced that interest rates for small savings schemes will remain unchanged for the first quarter of FY 2025-26. PPF will continue at 7.1%, NSC at 7.7%, and both SCSS and SSY at 8.2%. Quarterly reviews determine these rates based on guidelines ensuring competitiveness.