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Gold prices have dropped by around 6% since Diwali, pressured by a stronger US dollar and rising inflation concerns. The price of 24-carat gold fell from Rs 80,710 to Rs 74,031. The recent uptick in US inflation has sparked fears of a pause in Federal Reserve rate cuts, further weakening gold prices. Check local gold rates for details.
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News and Media
The Indian market remained volatile throughout Thursday's trading session. The BSE Sensex fell by more than 100 points, while the Nifty50 closed above the 23,500 level.
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News and Media
At the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Chinese President Xi Jinping urged the region to promote free trade in the face of "rising protectionism." Xi emphasized the importance of removing barriers to trade, investment, technology, and services to maintain a stable industrial supply chain, according to Chinese state media.
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RBI Governor Shaktikanta Das stated that the Indian economy and financial sector are in a strong position. India's external sector is robust, and the current account deficit remains manageable. Das highlighted India's significant foreign exchange reserves. He acknowledged the presence of inflation but expressed confidence in its moderation.
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Over the past week, the benchmark index fell by about 2.4%, while the BSE Smallcap index plunged 4.6%. Amid significant smallcap losses, ETMarkets identified the top 15 smallcap stocks that dropped the most, with declines ranging between 15% and 25% during the sell-off.
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News and Media