DIRS.INFO The most relevant business & tech news

☆ Indian financials attractive despite recent underperformance: Investment strategist
▼ + stars: | 2024-11-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian financials attractive despite recent underperformance: Investment strategistVK Vijayakumar, chief investment strategist of Geojit Financial Services, says the recent market weakness in India is justified and names the sectors that he believes remain fairly valued.

Persons: VK Organizations: Investment, Geojit Financial Services Locations: India

☆ Gold holds steady ahead of U.S. inflation print
▼ + stars: | 2023-05-10 | by ( ) www.cnbc.com time to read: +2 min

Gold bars are displayed at a bullion merchant's, Baird & Co., in London, U.K., on Friday, March 14, 2008. Gold prices were flat on Wednesday, as traders positioned themselves for key U.S inflation data due later in the day, which could impact the Federal Reserve's policy stance. Although gold is considered a hedge against inflation, rising interest rates dull non-yielding bullion's appeal. "The outlook of a weak U.S. currency and yields reignite the safe haven status of gold. Spot silver fell 0.1% at $25.58 per ounce, platinum edged 0.1% higher to $1,105.82, and palladium gained 0.1% at $1,571.23.

Spot gold was unchanged at $2,032.86 per ounce, as of 0201 GMT. Although gold is considered a hedge against inflation, rising interest rates dull non-yielding bullion's appeal. "The outlook of a weak U.S. currency and yields reignite the safe haven status of gold. Worries over the global economy and demand-supply outlook may also support the commodity in the near future," Hareesh added. Spot silver fell 0.1% at $25.58 per ounce, platinum edged 0.1% higher to $1,105.82, and palladium gained 0.1% at $1,571.23.

☆ Gold off one-year highs as investors weigh rate hike prospects
▼ + stars: | 2023-04-17 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold prices biased for a grind higher - analystsMarkets pricing in Fed 25-bps rate hike in MayU.S. dollar up 0.1%April 17 (Reuters) - Gold prices inched higher on Monday but were off one-year highs reached late last week as mixed economic data prompted investors to reassess the U.S. Federal Reserve's rate hike trajectory and boosted the dollar. Spot gold was up 0.1% at $2,004.74 per ounce, as of 0353 GMT. The dollar index was 0.1% higher, making bullion expensive for overseas buyers. Other data showed households expected inflation to rise over the next 12 months. The CME FedWatch tool shows markets are pricing in a 80.9% chance of a 25 basis point hike in May.

☆ Gold slides 1% after U.S. jobs data raises rate hike bets
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: +2 min

An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. Gold prices fell about 1% to slip below $2,000 on Monday, after U.S. employment data pointed to a tight labor market and raised expectations of another rate hike by the Federal Reserve in May. Friday's data from the U.S. Labor Department showed non-farm payrolls increased by 236,000 jobs in March, versus expectations of 239,000. The data also showed the unemployment rate dipped to 3.5% from 3.6% in the prior month. The report raised bets that the U.S. central bank would increase rates next month, with markets pricing in a 66% chance of a 25 basis-point (bps) rate hike, according to the CME FedWatch tool.

☆ Gold slides 1% after US jobs data raises rate hike bets
▼ + stars: | 2023-04-10 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold slips below $2,000/ozMarch U.S. payrolls rise by 236,00066% chance seen of Fed rate hike in May- CME Fedwatch ToolApril 10 (Reuters) - Gold prices fell about 1% to slip below $2,000 on Monday, after U.S. employment data pointed to a tight labour market and raised expectations of another rate hike by the Federal Reserve in May. Friday's data from the U.S. Labor Department showed non-farm payrolls increased by 236,000 jobs in March, versus expectations of 239,000. The data also showed the unemployment rate dipped to 3.5% from 3.6% in the prior month. The report raised bets that the U.S. central bank would increase rates next month, with markets pricing in a 66% chance of a 25 basis-point (bps) rate hike, according to the CME FedWatch tool. Gold is traditionally considered a hedge against inflation, but higher rates increase the opportunity cost of holding the non-yielding asset.

☆ Gold pauses rally as traders seek clarity on banking crisis
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: +2 min

Gold retreated on Thursday from a safe-haven-driven rally, which sent prices to their highest since early-February, as traders sought more clarity on the financial sector after Credit Suisse became the latest focal point for fears of a banking crisis. Spot gold was down 0.3% at $1,912.48 per ounce, as of 0328 GMT, after rising more than 1% on Wednesday. Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank. Gold competes with the dollar as a safe store of value, and gains in the currency make bullion less attractive for overseas buyers. Spot silver slipped 0.4% to $21.71 per ounce, platinum was 0.3% lower at $959.52, while palladium gained 1.3% at $1,465.91.

☆ Gold hovers near 2-month low after U.S. data fans rate-hike fears
▼ + stars: | 2023-02-27 | by ( ) www.cnbc.com time to read: +2 min

Gold was flat and hovered near a two-month low on Monday, after strong U.S. economic data stoked fears that the Federal Reserve would implement more interest rate hikes to rein in inflation. Data on Friday showed consumer spending shot up 1.8% last month — the largest increase since March 2021. The personal consumption expenditures price index, the Fed's preferred inflation measure, rose 0.6% last month, after gaining 0.2% in December. Money markets expect the Fed's target rate to peak at 5.4% in July, from a current range of 4.50% to 4.75%. The dollar index was near a seven-week peak, making bullion expensive for buyers holding other currencies.

☆ Gold hemmed in tight range on Fed caution
▼ + stars: | 2023-02-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were stuck in a tight range on Monday, as bets of more interest rate hikes from the U.S. Federal Reserve dimmed the outlook for non-yielding bullion and boosted the dollar. Higher interest rates discourage investment in non-yielding gold, although it is considered a hedge against soaring prices. "Gold may trade lackluster inside a tight range in the immediate run." Recent economic data showed signs of a resilient U.S. economy, higher consumer prices, a rebound in producer prices and a tight labor market, sparking concerns that the Fed would keep interest rates higher for longer. Several Fed officials last week signaled that more rate hikes were needed to bring inflation down to the central bank's 2% target.

☆ Gold claws back some ground as dollar eases
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Gold prices regained some ground on Thursday as the U.S. dollar pulled back, although prospects of more interest rate hikes by the Federal Reserve kept investors on edge. U.S. gold futures rose 0.3% to $1,850.20. Higher interest rates discourage investment in non-yielding gold, although it is considered a hedge against soaring prices. The dollar index was down 0.3% after hitting a near six-week peak on Wednesday, making greenback-priced gold less expensive for overseas buyers.

☆ Gold gains as U.S. dollar eases off one-month peak
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: +2 min

Gold and Silver bullion is offered for sale at the Chicago Coin Company May 11, 2006 in Chicago, Illinois. Gold prices ticked higher on Wednesday as the dollar retreated from a one-month peak after U.S. Federal Reserve Chair Jerome Powell did not revert to a more hawkish stance despite last week's stronger-than-expected jobs report. Following Powell's remarks, the dollar index eased from a one-month high and was down 0.1% on the day. Minneapolis Fed President Neel Kashkari said the Fed would probably have to raise interest rates to at least 5.4% in order to tame high inflation. Although gold is seen as an inflation hedge, high interest rates lift the opportunity cost of holding the non-yielding asset.

BENGALURU, Feb 1 (Reuters) - Indian shares reversed earlier gains to close lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled. The bluechip Nifty 50 index (.NSEI) closed down 0.26% at 17,616.30, its biggest slide on budget day since a 2.51% fall in 2020. HDFC Life (HDFL.NS), SBI Life Insurance (SBIL.NS), ICICI Prudential Life Insurance Co (ICIR.NS), Life Insurance of India (LIFI.NS), General Insurance Corp (GENA.NS) and Max Financial (MAXI.NS) tumbled between 8.5% to 12.5%. Metal stocks (.NIFTYMET) closed down 4.5%, mostly dragged by the slump in Adani Enterprises. ($1 = 81.8680 Indian rupees)Reporting by Bharath Rajeswaran and Nallur Sethuraman in BengaluruOur Standards: The Thomson Reuters Trust Principles.

The secondary share sale of flagship Adani Enterprises (ADEL.NS) was subscribed 93% on Tuesday, including the anchor investor portion, Indian stock exchange data showed. The share sale needed at least 90% subscription to go through. By Monday, the book building process of the country's largest share sale had received only 3% in bids, amid swirling concerns that the share sale could struggle due to a market rout in Adani's stocks in recent days. That has since sparked $65 billion in cumulative losses for stocks of the Adani group, which called the report baseless. The support for Adani's share sale came even as the flagship's shares were trading at 2,967 rupees, up nearly 2.5% but below the lower end of the share sale price band of 3,112 rupees.

Adani Enterprises, the flagship firm, was trading 4% higher at 3,000 rupees, still below the lower end of the share sale's price band of 3,112 rupees. But other group stocks, including Adani Power (ADAN.NS), Adani Green (ADNA.NS) and Adani Total Gas (ADAG.NS), were down 5%-10%, extending their falls after Adani's 413-page response to Hindenburg's allegations failed to boost investor confidence. An unsuccessful share sale would be a stunning setback for Adani whose group has in recent days repeatedly said investors were standing by its side and the share offering will go through. The share sale needs at least 90% subscription to go through. Hindenburg said in its report it has shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

☆ Gold nudges lower as Fed members bat for higher interest rates
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held steady near the key psychological level of $1,800 per ounce on Monday, supported by a pullback in the dollar and U.S. Treasury yields. Gold prices turned negative on Wednesday, erasing gains made on weak U.S. economic data yet staying above the $1,900 level, as key members of the Federal Reserve signaled their intent to keep pushing interest rates higher to combat inflation. The dollar pared losses from near multi-month lows and held steady, making gold less attractive for other currency holders. Spot gold fell 0.2% to $1,904.84 per ounce by 1:45 p.m. Earlier in the day, U.S. producer prices fell more than expected in December as the costs of energy products and food declined, offering evidence that inflation was slowing.

☆ Gold firms on dollar slide; market focus on Fed minutes
▼ + stars: | 2023-01-04 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

"Traders remain cautious ahead of the Fed minutes. The minutes will likely give an idea about the Fed's policy decisions and this will impact dollar and gold," said Hareesh V., head of commodity research at Geojit Financial Services. There are chances of more inflows to gold when the Fed starts easing policies." Bullion is seen as a hedge against inflation, but rising rates dull non-yielding asset's appeal. Traders also kept a tab on rising coronavirus infections in top gold consumer China after the country's abrupt COVID policy U-turn in early December.

☆ INDIA STOCKS Indian shares fall as autos drag, awaits U.S. inflation data
▼ + stars: | 2022-11-10 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 10 (Reuters) - Indian shares fell on Thursday, weighed by auto and metal companies, as investors braced for crucial U.S. inflation data that will provide clues about the severity of the Federal Reserve's future interest rate hikes. The NSE Nifty 50 index (.NSEI) dropped 0.7% to 18,037 as of 0522 GMT, while the S&P BSE Sensex (.BSESN) fell 0.70% to 60,609. Indian benchmark indexes hit an over-9-1/2 month peak on Wednesday, driven by the bank Nifty index (.NSEBANK) touching a record high on the back of improved asset quality and credit growth for lenders. The bank index has gained about 17% so far this year, beating the benchmark Nifty index's 4% gain. Shares of Axis Bank (AXBK.NS) fell 2.7% after the Indian government proposed to sell a 1.55% stake in the private lender.

Search resuls for: "Geojit Financial Services"

17 mentions found