Gaurav Bansal

[ad_1] The rupee appreciated by 27 paise to settle at 84.30 against the US dollar on Monday, buoyed by a sharp fall in crude oil prices and strong domestic equity performance. Forex traders said sustained foreign investor inflows also supported the local currency, though global uncertainties limited the upside.At the interbank foreign exchange market, the rupee opened at 84.45 and traded between an intra-day high of 84.10 and a low of 84.47. It finally closed at 84.30, up 27 paise from its previous close, according to news agency PTI. On Friday, the rupee had displayed high volatility, touching a seven-month high and briefly breaching the 84-per-dollar mark, but ended the session 3 paise lower at 84.57.“Sustained FII inflows continued to support the domestic currency,” said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. “Additionally, a sharp decline […]

[ad_1] AI-generated image (Credit: Bing image creator) The US services sector showed signs of improvement in April, with the Institute for Supply Management’s (ISM) services index rising to 51.6 per cent from 50.8 per cent in March. The reading slightly exceeded market expectations of 50.2 per cent and remained above the 50 per cent threshold that indicates expansion. The uptick came amid financial market volatility triggered by US President Donald Trump's abrupt implementation of “liberation day” tariffs. Although the tariffs were paused for 90-days soon after for all countries except China, economic turmoil and uncertainties continue.Also read: Not just tariffs, Donald Trump's trade policies take aim at currency exchange rate, tax, and product standards too Steve Miller, chair of the ISM services survey, said, "April's change in indexes was a reversal of March's direction," noting rises in new orders, employment, […]

[ad_1] The terror attack on tourists in Pahalgam that killed 26 people might affect the local economy but it will not have much impact on Jammu and Kashmir Bank as the lender's exposure to the tourism industry is around one per cent of the total portfolio, MD & CEO of the bank Amitava Chatterjee said on Monday. "It is a matter of prudence that we have already done this assessment. One part of it is the direct impact. The total exposure related to the tourism industry in Jammu and Kashmir is just one per cent of our total portfolio. "The direct impact will be nominal, even if it is there," Chatterjee told PTI. He said it has been witnessed in the past as well that people in Jammu and Kashmir and Ladakh generally do not want to default on their […]

[ad_1] Investors holding the Sovereign Gold Bond (SGB) 2017-18 Series VI, issued on November 6, 2017, will be eligible for premature redemption on May 6, 2025, at a price of Rs 9,453 per gram, as notified by the Reserve Bank of India. This marks a gain of around 221% on the original issue price of Rs 2,945 per gram (or Rs 2,895 for investors), over a holding period of seven and a half years. In an official statement on Monday, the RBI said, “The redemption price for premature redemption due on May 06, 2025 shall be Rs 9,453/- (Rupees Nine Thousand Four Hundred and Fifty-Three only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., April 30, May 02 and May 05, 2025.”Earlier, according to the RBI the Sovereign Gold […]

[ad_1] Warren Buffett to pass baton to Greg Abel Shareholders of Berkshire Hathaway are contemplating the future of the conglomerate following Warren Buffett's unexpected announcement of stepping down as chief executive by year end. While most acknowledging that the company will remain stable under Vice Chairman Greg Abel's leadership who Buffett endorsed to be his successor, some stakeholders express concern about the absence of Buffett's unique insight and charisma.The $1.16 trillion organisation, encompassing 189 operating businesses, $264 billion in stocks and $348 billion in cash, faces uncertainty regarding its trajectory post-Buffett era. The announcement came after the annual meeting's question-answer session, with the board scheduled to discuss the transition."There has been a premium on Berkshire because of Buffett," said Mark Malek, chief investment officer at Siebert.NXT, as quoted by news agency Reuters. "Will people look at it in the same […]

[ad_1] India and the US are focusing on select industries to achieve a swift trade agreement. (AI image) India, US close in on trade deal? In trade discussions with the US, India has put forward a proposal for zero-for-zero tariff arrangements on specific items including steel, auto parts and pharmaceuticals, based on reciprocity and limited to certain import volumes, according to sources with knowledge of the matter. The discussions come at a time when US President Donald Trump has hit a 90-day pause button on proposed reciprocal tariffs. Many Asian countries, including South Korea, Japan and India, are at the forefront of securing interim agreements with the Trump administration.According to a Bloomberg report, during their visit to Washington in the previous month, Indian trade representatives presented this proposal to accelerate discussions for a bilateral trade agreement anticipated by autumn this […]

[ad_1] AI-generated image (Credit: Bing image creator) The US administration’s April 2 tariff announcement (later paused for 90 days) is part of a broader strategy aimed at compelling foreign governments to reduce trade barriers to American goods.Moving beyond traditional tariffs, the policy targetsnon-tariff barriers such as agricultural regulations, taxation systems, currency practices, product standards, legal frameworks, and customs procedures. Countries have been given a three-month deadline to make concessions or face new tariffs ranging from 10 per cent to over 50 per cent. Tariffs on Chinese goods have already taken effect. However, many nations face major challenges in meeting US demands, particularly in lowering tariff rates and navigating ambiguous negotiation terms. Officials from several targeted countries have expressed uncertainty about the administration’s specific requirements. US Vice President JD Vance confirmed that India has agreed to begin trade talks, while other […]

[ad_1] US stock futures pointed toward losses as Wall Street opened on Monday, with major indices retreating amid a decline in oil prices and a rally in gold. The broader market faced pressure as traders reacted to shifting dynamics in global commodities, geopolitical tensions, and concerns over economic growth.At 9:33 am GMT-4, the Dow Jones Industrial Average (DJIA) was down by 171.37 points, or 0.41%, trading at 41,146.06. The Nasdaq dropped 141.64 points, or 0.79%, to 17,836.09, while the S&P 500 decreased 43.6 points, or 0.77%, reaching 5,643.07.On the commodities front, gold saw a significant rise, climbing 83.3 points or 2.57%, to reach 3,326.6. The precious metal’s rally comes as investors flock to safer assets amid mounting market volatility. In contrast, oil prices saw further declines, with US crude falling 0.89 points, or 1.53%, to 57.4, following an announcement from […]