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Gold prices edged higher on Monday, after falling below the critical $1,300 level to their lowest since Jan. 25 in the previous session, as the dollar softened on prospects of a trade deal between China and the United States. Spot gold was up 0.3 percent at $1,296.61 per ounce as of 0352 GMT, after touching its lowest in more than a month at 1,289.91 in the previous session. U.S. gold futures were down 0.2 percent at $1,297.20 per ounce. The U.S.-China trade deal appears to be closer to reality, rolling back U.S. tariffs on Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs, a source briefed on negotiations said on Sunday. "Dollar rose quite considerably last week and brought gold prices down, but we are seeing a reversal of that now (on trade deal prospects)," said Kyle Rodda, a market analyst with IG Markets in Melbourne. "The global economy is still slowing and central banks should in...

Buy Turmeric Apr Abv 6150 SL BELOW 6100 TGT 6220-6280. NCDEX Turmeric trading range for the day is 6086-6218. Turmeric gained on the back of concerns that drought conditions and cold weather will affect crop production. However, upside seen limited on higher supplies prospects from new season crop limiting the downside. There is an expectation of higher production this season due to higher acreage in Telangana. In Nizamabad, a major spot market in AP, the price ended at 6292.5 Rupees dropped -43.2 Rupees. BUY TURMERIC APR ABV 6150 SL BELOW 6100 TGT 6220-6280. NCDEX. 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.

The foreign investors sold equities worth Rs 5781.98 crore. However, domestic institutions bought Rs 5972.69 crore worth of equities in last week. Indian indices seen a consolidation for the week ended February 23 amid no major cues from domestic as well as international markets. Equity benchmarks have been oscillating within last two weeks’ broad range of 10600-10300, indicating consolidation after the recent sharp decline of 8%. The index rebounded from the oversold territory and is under the process of forming base near the lower band of broader consolidation range around 10300. Going forward, we expect the market to consolidate and form a good base in the range of 10300–10600. However, we believe this consolidation will make markets healthier and offer an incremental buying opportunity, said Dharmesh Shah of ICICIDirect.com Research. On the F&O expiry day, both the indices closed with a marginal loss. However, on Friday the indices closed with 1 percen...

A suitability of 90/10 retirement strategy is further subjected to a willingness to withstand in bear phase and duration between now and retirement period. By Dinesh Rohira Retiring investor in India might often get prompt to adopt Warren Buffett’s investing strategy of aggressive risk tolerance on the face value of earning higher returns. As highlighted in his 2013 letter to Berkshire Hathaway shareholders about his 90/10 strategy with 90 percent allocation going into equity and remaining 10 percent in bond. It significantly paid off over a longer period with stocks earning about 60 percent returns in comparison to 8 percent by bonds on the overall portfolio. The basic fundamental that he intended to cover in his letter revolved around retirement strategy with asset allocation overweighing on equities and overlooking on the emotion among other takeaways. However, adopting this kind strategy comes with a deep understanding of the market and anticipating the...

The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers at an issue price of Rs 82.50 per equity share (including a premium of Rs 72.50 a share), amounting to about Rs 3,500 crore. Mobile operator Idea Cellular today said it has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 3,500 crore. The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers at an issue price of Rs 82.50 per equity share (including a premium of Rs 72.50 a share), amounting to about Rs 3,500 crore. "The issue witnessed interest from a global investor base. The issue allocation is approximately 56 per cent and 44 per cent to Indian and foreign investors respectively," the company said in a statement here. DSP Merrill Lynch and Citigroup Global Markets India acted as global co-ordinators and book running lead managers to the issue, the statement added. "...

Even though the data shows that SBI has the most number of defaulters - 15 - the loss incurred by them was Rs 410 crore, much lower than PNB. Punjab National Bank (PNB) tops the list in a data report which shows that gems and diamond traders have cost banks over Rs 5,000 crore through 90 defaults. The Federation of Bank of India Staff Unions (FBISU) compiled data, accessed by The Times of India, shows that PNB, due to nine defaulters, has lost Rs 1,790 crore. Even though the data shows that State Bank of India (SBI) has the most number of defaulters - 15 - the loss incurred by them was Rs 410 crore, still lower than PNB. PNB saga: Track all the latest updates and news here. Among other banks, Union Bank of India and Oriental Bank of Commerce also come on top of the list, with nine and eight defaults, respectively. According to the data, the total number of wilful defaulters is more than 5,000 and costing a total of around Rs 49,000 crore to all the banks. The latest Re...

This blog will give you the latest news and updates on the Rs 11,400-crore PNB fraud case. Finance Ministry has written to four Hong Kong banks that got LOUs Finance Ministry sources told ANI that they will write letters to SBI, Axis Bank, Allahabad Bank and Bank of India telling them to reconcile accounts and check for irregularities. The sources added that several regulatory measures are put in place - all banks are to reconcile LoUs they have given, PSU banks are to appoint special representative or agency to monitor status for all loans above Rs 250 crore and consortium cannot exceed 7 banks. PNB tops the list in losing Rs 1,790 crore due to 9 jeweller defaulters: Report Punjab National Bank (PNB) tops the list in a data report which shows that gems and diamonds traders have cost banks over Rs 5,000 crore through 90 defaults. The Federation of Bank of India Staff Unions (FBISU) compiled data, accessed by The Times of India, shows that PNB, due to nine defaulters, has ...

All sectoral indices have commenced trade in the green, while, in the broader market, midcaps are up around half a percent. Rupee Update: The Indian rupee opened higher by 9 paise at 64.95 per dollar on Friday versus previous close 65.04. Bhaskar Panda of HDFC Bank said, "Worries of US rate hike, consequent rally in US yields, coupled with uncertainties due to the PNB episode has brought back pressure on the INR." "The USD-INR pair has broken through crucial 64.80 levels and traded above 65 yesterday. Today, I expect the pair to consolidate in a range of 64.85-65.15 given the dollar fall overnight." "The 10-year benchmark bond yield has been rallying higher after the latest MPC minutes. I expect the trend to sustain while today's range would be 7.72-7.78 percent," he added. The dollar sagged broadly after its recovery this week faded as US treasury yields declined from their recent peaks. The dollar index against a baske...

Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day, says Mohan Shenoi of Kotak Mahindra Bank. The Indian rupee declined in the early trade on Thursday. It has opened lower by 29 paise at 65.05 per dollar versus 64.76 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "US FOMC minutes caused market volatility with US treasury yields touching a new high, US stock markets reversing early gains and dollar strengthening further." "Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day." "RBI MPC minutes for February highlighted upside risk to inflation due to rising crude prices, MSP increases, fiscal slippage and Pay Commission implementation." "The G-Sec market is expected to continue to be bearish with low demand and falling trading volumes...

Japan's Nikkei shed 1 percent even as the yen gave back some of its recent gains on the dollar. Asian shares slipped on Thursday as the risk of faster hikes in U.S interest rates lifted short-term Treasury yields to the highest in almost a decade and boosted the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.35 percent in early trade, while E-Mini futures for the S&P 500 lost 0.2 percent. Japan's Nikkei shed 1 percent even as the yen gave back some of its recent gains on the dollar. On Wall Street the Dow had ended Wednesday down 0.67 percent, while the S&P 500 fell 0.55 percent and the Nasdaq 0.22 percent. The retreat came after minutes of the Federal Reserve's last policy meeting showed the usual concerns that inflation might disappoint, but also an expectation of faster economic growth due to fiscal stimulus. In particular, members agreed that "the strengthening in the near-term economic outlook increased the lik...

The index is trading in the tight range of 10270 on the downside and 10640 on the higher side, in the last ten sessions. We expect this tight range to continue until we see a strong breakout or breakdown on either side. By Rohit Singre Bonanza Portfolio Ltd. The Nifty index closed the day at 10397.45 with a gain of 37 points on Wednesday after trading in a flat range for the whole day and formed a ‘Hammer’ candle pattern on the daily chart which stands for reversal. The index is trading in the tight range of 10270 on the downside and 10640 on the higher side, in the last ten sessions. We expect this tight range to continue until we see a strong breakout or breakdown on either side. On the options front, highest open interest is placed at 10300 PE followed by at 10,000 PE so the immediate support is placed at 10300 and on the higher side 10500 CE which will act as strong resistance. The derivative data suggest that February month expiry is expected in 10300-10500 range. In the r...

The trading range for the spot USD-INR is expected to be 64.50-65, says Pramit Brahmbhatt of Veracity. The Indian rupee opened lower by 11 paise at 64.90 per dollar on Wednesday versus previous close 64.79. Pramit Brahmbhatt of Veracity said, "Rupee will trade with a negative bias on back of stronger dollar as well as weakness in the domestic equity market. 64.80 is the immediate support for the rupee and more weakness can be seen beyond the support." "The trading range for the spot USD-INR is expected to be 64.50-65," he added. The US dollar rose to a six-year high as it extends the rebound from a three-year low helped by rising treasury yields and profit-booking by forex traders. Dhawal Dalal of Edelweiss said," Governmnet bond prices continued to drift lower amid declining trading volumes and lack of appetite for bonds. Market participants are focussing on trajectory of the rupee and crude oil for further cues in bond yields....

By Eileen Soreng Gold prices fell for a third straight session on Tuesday as the dollar rebounded from over three-year lows hit last week, while investors waited for the minutes of the latest Federal Reserve meeting for clues on the outlook for U.S. interest rates. Spot gold was down 0.4 percent at $1,341.20 an ounce at 0340 GMT. Earlier, it fell to as low as $1,340.16, the lowest since Feb. 14. U.S. gold futures were down 1 percent at $1,342.90 per ounce, posting its biggest one-day fall in nearly two weeks. The dollar index, which measures the greenback against a basket of six currencies, was up 0.3 percent at 89.397. It fell to 88.253 last week, the lowest since December 2014. The U.S. currency showed signs of a bounce-back as some investors bought in after last week's declines, though the gains on Tuesday were capped by growing concerns that a rising fiscal deficit in the United States could disrupt the economy. The minutes of th...