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BENGALURU/MUMBAI - High local prices hit physical gold demand in India this week while activity in most other Asian centers remained subdued due to the Lunar New Year holiday. In India, the second-biggest consumer of the metal after China, local gold prices were trading near a 15-month high of 30,839 rupees touched last week, denting the appetite of jewelers. "Sentiment is weak. Jewellers are not comfortable buying at current price levels," said Mukesh Kothari, director at bullion dealer RiddiSiddhi Bullions in Mumbai. Dealers in India were offering a discount of up to $2 an ounce over official domestic prices, compared with a discount of $3 last week. The domestic price includes a 10 percent import tax. "Since retail demand is weak, jewelers are not in a hurry. They can wait for a price correction," said a Mumbai-based dealer with a private bank. Gold demand in India is likely to remain below its 10-year average for a third year in 2018 as higher t...

“In the last 1-1/2 years, the metal index has exceeding well. It is trading around 15,300-15,400 on the BSE and our near-term target for the index is close to 17,000 but for 2018 our target is about 21,000 which translates into an upside of 20-25 percent over the next 9-12 months,” Gautam Shah, Associate Director & Technical Analyst at JM Financial said. The market is likely to consolidate in a narrow range of 10,350-10,600 but there is one sector which is likely to remain in limelight which is the ‘metal’ sector, Gautam Shah, Associate Director & Technical Analyst at JM Financial said in an interview with CNBC-TV18. “In the last 1-1/2 years, the metal index has exceeding well. It is trading around 15,300-15,400 on the BSE and our near-term target for the index is close to 17,000 but for 2018 our target is about 21,000 which translates into an upside of 20-25 percent over the next 9-12 months,” he said. The way metal stocks have handled themselves in the l...

The company has been awarded Rs 3500 crore advance purchase order to design, build and manage the Indian Navy’s communications network. The share price of Sterlite Technologies added more than 10 percent in the early trade on Monday on the back of order win worth Rs 3500 crore. The company has been awarded Rs 3500 crore advance purchase order to design, build and manage the Indian Navy’s communications network. This will give the Indian Navy digital defense supremacy at par with the best naval forces globally. Anand Agarwal, CEO of Sterlite Technologies said, "We are delighted to get an opportunity to play our role in strengthening India’s defense through highly scalable, future-ready networks." "We look forward to delivering this end-to-end strategic network for the Indian Navy with our unique software-to-silicon capabilities," he added. Give  One Missed call on @9644405056 Get Two days Free Trials  and  best services p...

With current level rebounding above a crucial 100-days level placed at 10410, the index formed a strong bullish candlestick pattern on its daily price chart although a weekly chart has yet to confirm the trend. By Dinesh Rohira The Indian equity market made a decent comeback towards a weekend session after closing on negative regime ahead of current month’s F&O expiry and slipover of banking fraud. On Friday’s trade, Nifty index surpassed a crucial support level placed at 10300 and decisively managed to close above its 100-days EMA level. Although it witnessed a selling pressure on an intraday basis to slip at 10396 level, the sentiment continued on positive cues as it recoups losses and closed at 10491 level with 1.04 percent upside. Thus it signaled a bullish sentiment in the market after series of bearish drought. With current level rebounding above a crucial 100-days level placed at 10410, the index formed a strong bullish candlestick pattern...

Dr Reddy’s Labs and Sun Pharma are the top losers on both indices, while gains are seen in auto stocks such as Bajaj Auto and Tata Motors. Pharma stock in focus:Pharmaceutical names have witnessed a weak 2018 so far, with sectoral index down around 5 percent so far. On Monday too, led by cuts in heavyweight names such as Dr Reddy's and Sun Pharmaceuticals, pharma indices were trading lower. Here is a list of other such scrips in focus. New Listing : Market debutant Aster DM Healthcare listed at a discount of around 4 percent on the exchanges on Monday. The stock listed at Rs 183 on the National Stock Exchange against the upper band of its issue price of Rs 190. The healthcare services provider’s issue was oversubscribed 1.3 times on the last day, as per data available on the NSE website. Market Check: The market has extended its gains from opening tick and is witnessing an upmove of over half a percent. The Sensex is up 185.56 points or 0.54% at 34327.71, while the Nif...

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...