Top Business Highlights Oct 3: Sensex closes 198 points lower, Gold prices continue to surge
New Delhi | Jagran Biz Desk: At Jagran English Business Desk, we try to focus on all the top business updates to provide our readers a brief insight and 360-degree coverage about fuel prices, stock exchange, gold prices, among others.
Today, our key focus is on stock markets ahead of analysts expecting a possible rate cut by the RBI on Friday. The markets have seen a downturn in the ongoing week and it lost over 700 points after the banking shares plummeted on Tuesday, but recovered to end 362 points low. The markets were closed on Wednesday on account of Gandhi Jayanti.
Meanwhile, gold prices have witnessed a surge in the last couple of days. It rose 1.4 per cent after US markets fell on Thursday as Trump administration said it will impose tariffs on USD 7.5 billion goods from the European Union.
Fuel prices have been normal in the ongoing week. Last week, petrol prices peaked at Rs 74-mark post drone attacks on Saudi oil facilities that hit global markets. Crude oil prices have also settled down at USD 57.54 per barrel of Brent crude.
Here's how the market fared today:
Sensex closed in the negative terrority as renewed trade war concerns weighed on sentiments. It slipped 198.54 points to settle at 38, 106 while NSE shed 0.41 per cent to end at 11,313.
Vendanta was the biggest loser at 4.66 per cent, other major laggards were Tata Steel, IndusInd Bank, HDFC Bank, Kotak Bank, Axis Bank, HUL and Bharti Airtel, losing up to 3.36 per cent losing 3.36 per cent.
Yes Bank shares, on the other hand, surged about 33 per cent after five consecutive days. Other top gainers were ITC, Tata Motors, HCL, Tech Power Gold and M&M gaining up to 6.16 per cent.
Rupee rose 20 paisa at the end of the day. Earlier, it fell 28 paisa at opening, helped by weakening of the greenback overseas and easing crude oil prices.
Rupee: 70.87 per USD
Gold prices jumped Rs 348 to Rs 39,115 per 10 gram of pure gold in Delhi on Thursday, tracking firm global cues and a weak rupee, as per HDFC securities.
Gold: Rs 39,115 per 10 grams
Here's how the markets opened today:
The equity markets opened in negative territory on Thursday following fresh trade concerns after the US announced tariffs on products of the European Union. Sensex lost nearly 200 points while Nifty shed over 57 points.
Nifty: 11,302.45 points
Gold prices extended their gains on Thursday after the US commerce department released figures of US jobs data, which were lower than expected, that reinforced fears of global economic slowdown and expectation of another possible rate cut by the US Federal Reserve. Price of Gold had surged 1.4 per cent on Wednesday, its biggest gain since August 23.
Gold: Rs 37640 per 10 grams of pure gold.
Fuel prices were barely flat as Petrol prices rose 15 paise and Diesel extended a gain of 9 paise.
Petrol: Rs 74.51 per litre
Diesel: Rs 67.43 per litre
Rupee fell below 28 paise to 71.35 against USD in early trade amid rising crude oil prices and unabated foreign fund inflows.
Rupee: 71.35 against USD
(with PTI inputs)
Posted By: James Kuanal