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[ad_1] After maniac Monday, Asian markets bounced back on Tuesday following a brutal global sell-off, with Japan's Nikkei 225 surging over 6 per cent in early trade after suffering a sharp 8 per cent decline the previous day. The recovery came amid continued volatility sparked by growing fears of an international recession as the US-China trade war deepened. China on Tuesday vowed to "fight to the end" and take countermeasures against the US after President Donald Trump threatened fresh levies on Beijing. Following China's reaction, Asian markets opened higher after a volatile session a day earlier. Here's how global market reacted on Tuesday: Indian market reboundsBenchmark indices on Tuesday showed signs of recovery as Nifty and Sensex surged in pre-opening session. The Indian market opened in green; Sensex currently at 74,293.29, up by 1155.39 points, while, Nifty surged 415.95 points […]

[ad_1] MUMBAI: Investors, jittery about the present market situation, should not act out of fear, emotion or greed: This is the advice to them by people with decades of experience in the market.According to Mukund Seshadri, partner, MSVFP LLP, during any sudden and major change in the market, like Covid, US market turmoil, the current tariff war, there's a high chance for investors to react immediately. "Investors should avoid such knee jerk reactions to market-related events," Seshadri said. "Usually the markets are volatile in the short term but to make money in the market, investors should have a long-term view," he said.Market players remind investors of the old saying: It's not the 'timing the market' that makes money for investors. It's the 'time in the market' that creates wealth for investors. Fund managers and financial advisors said investors with a […]

[ad_1] Mumbai: Bank of Baroda has withdrawn its BOB Utsav fixed deposit scheme and launched a new retail term deposit-bob Square Drive Deposit Scheme-offering lower interest rates. The new 444-day scheme offers 7.15% for the general public, 7.65% for senior citizens, and 7.75% for super senior citizens. For non-callable deposits, the rate goes up to 7.80%. The earlier BOB Utsav scheme, launched in Oct 2024 during the festive season, offered a 400-day deposit with higher rates. [ad_2] Source link

[ad_1] File photo - Piyush Goyal MUMBAI: Commerce minister Piyush Goyal blamed the present state of affairs on tariffs, on the world turning a blind eye to unfair trade practices adopted by China for over two decades after its admission to the World Trade Organization in 2001, driven by the narrative of low-cost manufacturing and cheap goods. He urged the world to act collectively to restore fair trade practices to preserve multilateral trade.He called upon India to turn the tariff crisis into an opportunity just like the country did during the Y2K (year 2000 IT transition) and Covid challenges. He also called upon Indian companies to be nationalistic and collaborate to support downstream and upstream players and align with national goals.Speaking at an India Global Forum event in Mumbai, Goyal said that despite Monday's stock market crash, India, with a […]

[ad_1] Mukesh Ambani who holds the position of India's wealthiest person, saw his wealth decrease by $3.6 billion. (AI image) Stock market crash impact: India’s richest persons - the top 4 billionaires - Mukesh Ambani, Gautam Adani, Savitri Jindal & family, and Shiv Nadar - have seen a collective decline of $10.3 billion in their net worth on Monday, according to Forbes' real-time billionaire tracker, amidst a significant market downturn.According to an ET report, Mukesh Ambani \who holds the position of India's wealthiest person, saw his wealth decrease by $3.6 billion, reaching $87.7 billion. The second-wealthiest Indian, Gautam Adani, witnessed his net worth reduce by $3 billion, settling at $57.3 billion.The third-ranked Indian billionaire, Savitri Jindal & family, positioned 45th globally, experienced a reduction of $2.2 billion, with their net worth settling at $33.9 billion. Additionally, Shiv Nadar's fortune diminished […]

[ad_1] India’s merchandise exports to the United States are projected to decline by a staggering $ 5.76 billion this year, primarily due to the rise in tariffs imposed by the US. According to a report by the Global Trade Research Initiative (GTRI), exports from key sectors such as marine items, gold, electronics, and electrical products are expected to bear the brunt of the tariff hike, as reported new agency PTI. However, India’s competitive edge in certain product segments could help mitigate some of these losses.Major declines in electronics, seafood, and gold exports expected The US has announced a 26% additional tariff on Indian goods (excluding pharmaceuticals, semiconductors, and certain energy products) starting April 9. This move comes on top of the 10% baseline tariffs that have been in effect from April 5-8. According to GTRI, the total impact will result […]

[ad_1] Cryptocurrencies (Representative) Cryptocurrencies, including Bitcoin and Ethereum, are witnessing a downturn on Monday as global risk sentiment soured following new US tariff announcements. The market plummeted after US President Donald Trump made it clear that he would not back down from imposing sweeping import duties, signalling a potential recession and fuelling speculation of an interest rate cut by the Federal Reserve as soon as May.In a press conference, Trump told reporters that investors would need to "take their medicine" and that he would not negotiate with China until the US trade deficit was addressed. Beijing responded, saying the markets had already spoken on their retaliation plans.The new tariff regime introduced by the US includes a baseline 10% levy on imports, with significantly higher duties on major Asian trade partners—34% on China, 24% on Japan, 46% on Vietnam, and 25% […]

[ad_1] The World Gold Council (WGC) has reassured investors that the fundamentals of gold as an asset class remain "very strong" and will continue to be robust throughout the year, despite recent volatility triggered by the imposition of reciprocal tariffs by the Trump administration. Sachin Jain, Regional CEO India at WGC, confirmed to news agency ANI that the recent decline in gold prices was anticipated and not the result of panic selling.Over the past two to three sessions, gold prices have dropped by approximately USD 200 from their peak of USD 3,201 per ounce. Jain emphasized that this correction was expected and not indicative of widespread panic. He explained, "No, it's not panic selling. There's nothing of panic selling here right now. If panic selling would have happened, then this could have dropped like very high a percentage."Jain further clarified […]

[ad_1] Gold prices saw a sharp decline of Rs 1,550, settling at Rs 91,450 per 10 grams in the national capital on Monday, driven by heavy selling from jewellers and stockists, as well as a weak global trend, according to the All India Sarafa Association. On Friday, the precious metal had closed at Rs 93,000 per 10 grams.Gold of 99.5% purity also fell by Rs 1,550, reaching Rs 91,000 per 10 grams, compared to Rs 92,550 in the previous session, as per PTI report. "Gold prices slipped as panic selling in equity markets and other asset classes continued to affect safe-haven precious metals," said Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities.Silver prices continued their downward trajectory for the fifth consecutive day, dropping by Rs 3,000 to Rs 92,500 per kg from Friday's closing of Rs 95,500 per kg. […]

[ad_1] NEW DELHI: Govt on Monday raised the price of household LPG (liquefied petroleum gas) for all categories, including subsidised refills supplied to poor families under the ‘Ujjwala’ scheme, and increased the special additional excise duty (SAED) on petrol and diesel by Rs 2 per litre — dashing hopes of a fuel price cut by siphoning part of the gains from falling oil prices .From Tuesday, Ujjwala households in Delhi will have to shell out Rs 553 for each 14.2-kg cylinder against Rs 503, while general category consumers, who do not get subsidy, will pay Rs 853 against the market price of Rs 1,028.50. Prices in other states will vary in accordance with prevalent tax rates. LPG prices were last revised in March 2024 when they were cut by Rs 100 per cylinder.Oil minister Hardeep Singh Puri defended the government’s […]