By Riyank Arora
On Tuesday, the benchmark index opened with a gap up of around 47 points and fell nearly 187 points towards the closing. The Nifty ended 140 points lower, while the Sensex was up by 384 points.
Among sectors, the Nifty Realty Index led the fall, with FMCG stocks outperforming all other sectoral indices rising nearly 1105 points. Technically, the market is looking weak and should witness selling pressure on every rise.
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22,350 to 22,400 zone should be considered as a strong selling zone with a strict stoploss at 22,500 for potential targets of 22,000 and 21,800 on the benchmark.
Bilasipara – G…
Read more2024 is going to an increase in demand for gold, primarily because prices above Rs 60,000 per 10 grams has now become “acceptable” to the market, according to Somasundaram PR, Regional CEO, World Gold Council India. This would lead to a rise in India’s imports of the yellow metal in the short-term, despite recent rise in tariffs. “We believe the biggest driver of gold demand is income growth… a 1% increase in income in the long term leads to 0.9% increase in demand for gold,” he told Priyansh Verma in an interview. Excerpts.
Q. What has led to the recent spurt in gold imports?
A. In e have seen in the first nine months of 2023, the demand has been a little soft. This is primarily due to high prices in th…
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