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Gold prices plunged by Rs 650 to Rs 31,300 per ten grams at the bullion market today on considerable fall in demand from local jewellers and retailers at prevailing higher levels.  Silver followed suit and lost Rs 600 at Rs 39,150 per kg due to reduced offtake by industrial units and coin makers.  Marketmen said gold prices sank on lacklustre demand from local jewellers and retailers at domestic spot market.  In the national capital, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 650 each to Rs 31,300 and Rs 31,150 per ten grams, respectively.  Sovereign, however, remained unaltered at Rs 24,800 per piece of eight grams.  In line with gold prices, silver ready drifted lower by Rs 600 to Rs 39,150 per kg and weekly-based delivery by Rs 660 to Rs 38,320 per kg.  Silver coins, however, remained steady at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.  For More Information  Give a Missed Call- ...

Nifty Bank closed the week on positive note gaining around 2.50%. As we have mentioned, last week that support for the index lies in the zone of 23500 to 23600 where the index has formed a bottom in the month of September-2017. If the index manages to close below these levels then the index can drift to the levels of 22900 to 23000 where trend-line joining earlier lows is lying. During the week the index manages to hit a low of 23657 and close the week around the levels of 24263. Minor support for the index lies in the zone of 23900 to 24000. Support for the index lies in the zone of 23500 to 23600 where the index has formed a bottom in the month of September-2017 and March-2018. If the index manages to close below these levels then the index can drift to the levels of 22900 to 23000 where trend-line joining earlier lows is lying. Resistance for the index lies in the zone of 24300 to 24400 where Fibonacci levels are lying. If the index manages to close above these level...

SBIN closed the week on positive note gaining around 6.40%. As we have mentioned last week, that resistance for the stock lies in the zone of 240 to 250 from where the stock broke down from the double bottom pattern and long term Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 265 to 270 where Fibonacci levels are lying. During the week the stock manages to hit a high of 256 and close the week around the levels of 250. Minor support for the stock lies in the zone of 242 to 245. Support for the stock lies in the zone of 223 to 226 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 190 to 200 where the stock broke out on monthly charts and long term Fibonacci levels are lying. Resistance for the stock lies in the zone of 255 to 260 from where the stock broke down from February-2018 lows. If the stock manages to close above ...

Corporate bonds, the preferred funding route for India’s long-term projects, appear to be losing sheen with borrowers as yields head north in the world’s fastest-expanding major economy.  For the first time since the NDA government came to power, bond sales have fallen about 10 per cent year-on-year in FY18, reflecting weak investor appetite. During 2017-18, companies sold bonds worth Rs 5.75 lakh crore compared with about Rs 6.41 lakh crore a year earlier, show data compiled by  Edelweiss Finance.  The government still needs to do more to expand the bond market to help finance developmental projects running into thousands of crores.  “This was a bit disappointing year for corporate bonds after a long time,” said Ajay Manglunia, executive vice president at Edelweiss Finance. “With surging yields, investors could not find any extra incentive to buy corporate bonds. On many occasions, deals were scrapped as borrowers were not comfortable with bids offered by inv...

RBI Policy: Citizen's Monetary Policy Committee (MPC) meets on the eve of the monetary policy to discuss what the official monetary policy committee should be debating about and deciding on. SEBI tightens eligibility norms for F&O; links retail investor exposure to networth: Capital and commodities markets regulator SEBI has tightened the eligibility criteria for securities in which futures and options (F&O) trading can be allowed. RBI slaps Rs 58.9 crore fine on ICICI Bank for failure to meet disclosure norms on sale of securities: The Reserve Bank of India, in a rare move, has imposed a penalty of Rs 58.9 crore on  ICICI Bank , for failure to adhere to rules on sale of bonds in the held-to-maturity (HTM) category. Punjab National Bank to honour 352 LOUs and FLCs collectively worth Rs 6,500 crore: Punjab national bank will honour 352 maturing letters of undertaking (LoUs) and foreign letters of credit (FLCs) issued by it, collectively worth R...

For emerging markets (EM), political risk is resurfacing with Brazil, Indonesia, Mexico, India and Pakistan facing either national or crucial provincial elections. As an asset bloc, EMs underperformed developed markets by 5% since the beginning of the year. With political volatility adding to the list of negatives led by a liquidity crunch and an escalating trade row, EMs could be in for a prolonged period of below-par performance.  Bloomberg’s Emerging Market Political Risk Index rose to 59.4, the highest since at least June 2016 when a surprising Brexit outcome fuelled a global wave of risk aversion. EM funds witnessed outflows of $4.5 billion in February, the first monthly outflow since November 2016 and the EM market capitalization shrunk by $2 trillion. EMs’ borrowing costs — measured by the average yield spread over the US treasuries—reached 302 basis points, the highest since mid-November.  Mexico, Hungary, Egypt, Brazil, South Africa and Pakistan will face gene...