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A surge in gold purchases by central banks to the highest since 1967 helped push global demand for the metal up 4 percent last year, the World Gold Council (WGC) said on Thursday. The world consumed 4,345.1 tonnes of gold in 2018, up from 4,159.9 tonnes in 2017, the WGC said in its latest quarterly demand trends report. Driving the increase were central banks which bought 651.5 tonnes - 74 percent more than in 2017 and the second highest annual total on record - as countries including China and Poland joined Russia, Turkey and Kazakhstan in adding to their reserves, the WGC said. Jewellery demand was relatively unchanged at 2,200 tonnes, with rising consumption in China, the United States, and Russia offsetting a steep decline in the Middle East and a very slight fall in India. Retail investment in gold bars and coins grew 4 percent to 1,090.2 tonnes - helped by a sharp 222-percent rise in demand in Iran to almost 62 tonnes, according to the WGC. Interest from...

In the past 20 Budget sessions, the market has ended with gains only on eight occasions Investors will have to brace for a spike in volatility during the Budget day trade on Friday. The benchmark Sensex has swung an average 3.4 percent in past 20 Budget-day sessions, an analysis of trading data shows. While on a closing basis, the market often tends to end flat but investors rarely get to escape the volatility as traders react to a host of announcements made by the Finance Minister. For instance, during the previous Union Budget, the Sensex ended just 0.2 percent lower but swung 2.1 percent, or 755 points, during the day. Chart Similarly, in 2016, the Sensex ended 0.7 percent lower after gyrating 849 points, or 3.8 percent. In the past 20 Budget sessions, the market has ended with gains only on eight occasions. On an average, the Sensex has ended a percent lower during the last 20  Disclaimer:- The views and investment tips expressed by investment experts are ...

Mentha oil prices declined in the domestic futures market on Thursday, hit by a slump in demand.  Around 11 am, MCX Mentha oil was at Rs 1,580 per kg, down by Rs 12.70, or 0.80 percent.  Speculators trimmed positions in mentha futures, triggered by muted demand from consuming industriesNSE -0.07 % at the spot market and adequate stocks on higher supplies from the major producing regions.  Brokerage GeojitNSE 3.80 % Financial ServicesNSE 0.69 % said Mentha futures has a stiff resistance at Rs 1,600 which has to be overcome for a rise to Rs 1,625 or more.  Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions. Best Share Market News, Click Here To Get More News - NCDEX Tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

India's horticulture production is estimated to rise by 1% to record 314.67 million tonnes in 2018-19 on the higher area, the government said. The agriculture ministry released the final estimates for 2017-18 and the first estimates for 2018-19 of area and production of horticulture crops. As per the final estimates of 2017-18, horticulture production stood at a record 311.7 million tonnes, which is 3.7% higher than the previous year and 10% higher than the past five years' average production. The area under coverage rose to 25.87 million hectares from 25.43 million hectares. Onion production in the current year is likely to be around 23.62 million tonnes as against 23.26 million tonnes in 2017-18, while potato output is estimated at 52.58 million tonnes compared to 51.31 million tonnes. Tomato production is estimated to rise 2% to 20.51 million tonnes as against 19.76 million tonnes in 2017-18. The production of fruits is estimated at 97.35 million to...

The government may again defer the deadline to impose retaliatory measures on 29 US products, including Almond, Walnut and Pulses, by another 30 days till March 2, PTI reported. In December 2018, the government for the fourth time deferred the deadline till January 31. In June last year, India decided to impose retaliatory tariffs after the US imposed high customs duties on certain Steel and Aluminium products. As discussions are going on between India and the US for a proposed trade package, the commerce ministry has asked its finance counterpart to again defer the implementation of the notification till March 2. The finance ministry is expected to issue a notification regarding this soon. As part of the imposition of higher import duties, New Delhi has notified higher tariffs on several products. While import duty on Walnut is to be hiked to 120 percent from 30 percent currently, duty on Chickpeas, Bengal gram (Chana) and Masur dal will be raised to 70 perce...

At the operating level, EBITDA during the quarter is expected to decline 9-17 percent compared to the year-ago period Mining company Vedanta's third-quarter earnings are expected to be weak dented by fall in prices of base metals. Brokerages largely expect a sharp decline in profit, revenue as well as operating income, but sequentially, bottom line and EBITDA may be higher. The stock saw a steep fall during the quarter as well as last calendar year. It lost 13 percent in Q3FY19 and plunged 39 percent in 2018 due to weak base metals prices and partial closure of Sterlite Copper smelting plant in Tuticorin. Brokerages largely expect 10-50 percent on-year decline in profitability, dented by weak operating income and lower revenue growth. "Lower LME prices across the board YoY will drag down realizations across the product segments. Goa mines remain non-operational, while the copper smelter at Tuticorin also remains shut. Thus, the profitability should be driven ...

Spot gold was steady at $1,319.72 per ounce by 0308 GMT. Prices rose to their highest since May 11 at $1,323.34 on Wednesday. Gold prices on Thursday held near eight-month highs hit in the previous session, as the dollar weakened after the US Federal Reserve paused its monetary tightening cycle, putting bullion on course for its fourth straight monthly gain. Spot gold was steady at $1,319.72 per ounce by 0308 GMT. Prices rose to their highest since May 11 at $1,323.34 on Wednesday. US gold futures were up 0.6 percent at $1,317.70 per ounce. Spot gold has risen 2.8 percent so far this month. The Fed held US interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the economic outlook. "Gold is getting a double whammy from a dovish Fed and US-China trade talks. The US dollar has been sold off across the board, supporting gold," said Jeffrey Halley, senior market analyst, ...

International Brent crude oil futures had yet to trade, after closing up 2.2 percent in the previous session. US oil prices edged up on Thursday to extend gains into a third session, with widely watched data showing signs of tightening supply in the United States. US West Texas Intermediate (WTI) crude futures were at $54.41 per barrel at 0052 GMT, up 19 cents from their last settlement. WTI futures closed up 1.7 percent on Wednesday when prices touched their highest since Nov. 21 at $54.93 a barrel. International Brent crude oil futures had yet to trade, after closing up 2.2 percent in the previous session. "Oil prices rallied after the (Energy Information Administration) weekly report showed crude stockpiles rose less than expected," said Edward Moya, market analyst at OANDA. "US stockpiles may continue to fall as Saudi Arabia continues to trim exports to the US" US crude oil stockpiles climbed less than expected last week due to a dr...

Consolidated revenue from operations of the company stood at Rs 485.11 crore for the quarter, against Rs 587.05 crore for the corresponding period a year ago. Drug firm Ajanta Pharma on Wednesday reported a 54.63 percent dip in consolidated net profit to Rs 66.90 crore for the December 2018 quarter. The company had posted a net profit of Rs 147.47 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to the BSE. Consolidated revenue from operations of the company stood at Rs 485.11 crore for the quarter, against Rs 587.05 crore for the corresponding period a year ago. In a separate filing, the company said its board has approved a proposal for buyback of not exceeding 7.69 lakh shares at a price of Rs 1,300 per share in cash for an aggregate consideration not exceeding Rs 100 crore. Ajanta Pharma Managing Director Yogesh Agrawal said: "This quarter was a bit challenging for the company which was the result of pipeline filli...

The rupee-dollar versus previous close 71.12. The Indian rupee gained in the early trade on Thursday. It has opened higher by 17 paise at 70.95 per dollar versus previous close 71.12. The dollar-rupee February contract on the NSE was at 71.34 in the previous session. February contract open interest increased 1.83 % in the previous session. We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, said ICICIdirect. Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions. Best Share Market News, Click Here To Get More News - Share Market Tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

All the sectoral indices are trading in the green, the midcap index is up 0.50 percent. Market Opens: The benchmark indices have surged ahead of the Interim Budget, which is scheduled tomorrow. Sensex is up 317.18 points or 0.89% at 35,908.43, and the Nifty up 73.50 points or 0.69% at 10,725.30. About 1,006 shares have advanced, 827 shares declined, and 83 shares are unchanged. Global brokerage firms such as CLSA, Jefferies, and Macquarie raised their respective target price for ICICI Bank after the December quarter results were announced. The bank reported healthy growth in net interest income (NII) as well as margins. L&T bags orders: L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen a Toubro, has won two significant orders from Indian Oil Corporation (IOC). Buzzing: Shares of Ajanta Pharma plunged 5 percent in the early trade on Thursday on the back of poor numbers declared by the company for the quarter ended December 2018. The c...

Trends on SGX Nifty indicate a positive opening for the broader index in India, a risel of 64.5 points or 0.61 percent. Nifty futures were trading around 10,701-level on the Singaporean Exchange. The Nifty50 is likely to open with a gap on the higher side and reclaim 10700 levels in opening trade on Thursday tracking positive global cues. The index closed flat with a negative bias at 10,651 on Wednesday. Trends on SGX Nifty indicate a positive opening for the broader index in India, a risel of 64.5 points or 0.61 percent. Nifty futures were trading around 10,701-level on the Singaporean Exchange. US stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy, said a Reuters report. Asia stocks rose to a four-month high on Thursday, tracking Wall Street, after the Federal Reserve pledged to be patient with further interest rate hikes, signaling a potenti...

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KSCL has given bullish bear trap pattern a breakout has a potential for a strong move KSCL has given bullish bear trap pattern follow-through and bearish 45-degree trend line breakout on short term chart. Buy KSCL above 600 with stop-loss 588 for the first target of 625. Breakout has the potential to achieve a count of 660 as well. Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions. Best Share Market News, Click Here To Get More News - Share Market Tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Japan's Nikkei rose 1.4 percent. Australian stocks added 0.4 percent, while South Korea's KOSPI advanced 0.7 percent. Asia stocks rose to a four-month high on Thursday, tracking Wall Street, after the Federal Reserve pledged to be patient with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of slowing global growth. The dollar struggled near a three-week trough against its major peers and U.S. Treasury yields were significantly lower as investors reacted to the Fed's change in tone. MSCI's broadest index of Asia-Pacific shares outside Japan rose to its highest since Oct. 4 and was last up 0.4 percent. Japan's Nikkei rose 1.4 percent. Australian stocks added 0.4 percent, while South Korea's KOSPI advanced 0.7 percent. The Fed on Wednesday held interest rates steady as expected, and also discarded its promises of "further gradual increases" in interest rates. The central bank said it wo...