Gold prices today fall to near 1-year lows. In India, rates dip below ₹50,000

 Gold prices today: Global rates today fell to $1,691 per ounce, the lowest since August 21

In India, the fall in gold rates has been less steep due to the recent import duty hike on the yellow metal.

In global markets, gold rates today fell to lowest in nearly a year, buffeted by an elevated Us    dollar.Prospects of more interest rate hikes by major central banks also weighed on bullion's appeal. Spot gold today fell to $1,691.40, the lowest since August 2021. A stronger US dollar makes greenback-priced bullion more expensive for buyers holding other currencies.

In India, the fall has been less steep due to the recent import duty hike on the yellow metal. MCX gold futures were down 0.5% to ₹49,958 per 10 gram, the lowest since February, while silver fell 0.88% to ₹55130 per kg. India imports most of its gold requirement. Besides global rates and rupee-dollar movement, domestic prices also track change in different levies like import duty and GST.

“COMEX gold trades near Aug.2021 lows weighed down by pause in US dollar ahead of ECB decision today. Also weighing on price is stability in equity markets, concerns about consumer demand in India and China and continuing ETF outflows. Gold stalled near $1700/oz level for last few days despite weakness in US dollar which showed lack of confidence that US currency may weaken significantly. Gold may remain under pressure unless we see renewed selling pressure in US dollar post ECB decision. ECB is largely expected to raise interest rate by 0.25% however there is some expectations of a bigger move as well," said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

Commodity traders will be focused on the European Central Bank policy outcome today. The ECB is expected to raise interest rates for the first time in 11 years. Next week, the policymakers of US Federal Reserve will meet to decide on interest rate. The Fed is widely expected to raise interest rates by 75 basis points at its policy meeting next week to combat inflation.

Although gold is seen as a hedge against inflation, rising interest rates increase the opportunity cost of holding bullion, which pays no interest.

Despite the price dip, ETFs continued to see outflows. The holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 0.3% to 1,005.87 tonnes on Wednesday from 1,009.06 tonnes on Tuesday.

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Listed in June 2022, this stock has risen 54% from its issue price

                                        Aether Industries IPO was open from May 24-26

 Adding on to the strong performance of the stock, brokerage house HDFC Securities initiated coverage on the stock with a 'buy' call. The brokerage has a target price of ₹1,045 for the stock.]

Shares of Aether Industries have given robust returns to its investors since listing From June 3, (it's listing day), the stock has risen 41 percent till date. The stock listed at a premium to its issue price and was locked in a 10-percent upper circuit throughout the day, the only stock to do so on a listing day in 2022.

From June 3, (it's listing day), the stock has risen 41 percent till date. The stock listed at a premium to its issue price and was locked in a 10-percent upper circuit throughout the day, the only stock to do so on a listing day in 2022.

The ₹808-crore IPO of the company was subscribed 6.26 times during its public offer. Aether Industries Limited manufactures and sells advanced intermediates and specialty chemicals in India and internationally. It is focused on producing advanced intermediates involving complex and differentiated chemistry and technology core competencies. It serves pharmaceutical, agrochemical, material science, coating, high-performance photography, additive, and oil and gas industries.

Adding on to the strong performance of the stock, brokerage house HDFC Securities initiated coverage on the stock with a 'buy' call. The brokerage has a target price of ₹1,045 for the stock. This indicates a 62 percent potential upside from its issue price of ₹642 and a 6 percent upside from the current levels.

As per the brokerage, Aether is more than doubling its manufacturing capacity by 2023-end. Augmentation of capacity will not only allow it to fulfill the demand of the existing and potential customers for existing products but also provide an opportunity to launch new products, HDFC pointed out.

Business Model 

"Aether Industries Ltd has a technology-oriented business model and it sells innovations in chemistries and technologies. Competencies in eight chemistries and eight technologies have enabled the company to successfully build all three of its business verticals—large-scale manufacturing, contract manufacturing and contract research and manufacturing services (CRAMS)—in less than six years of operation," the brokerage said in its report.

The brokerage further highlighted that Aether’s business model compels it to regularly launch products and add competencies. Moreover, the firm is tripling its research and development (R&D) infrastructure and strengthening its team size which will support its growth pace, said HDFC.

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EPFO ​​likely to increase equity investment limit to 20 percent

                A decision may be taken in the EPFO ​​trustee meeting at the end of the month

Retirement fund body EPFO ​​is likely to approve a proposal to increase its investment in equities to 20 per cent from the current limit of 15 per cent this month. According to sources, the proposal will be considered and approved during the meeting of EPFO ​​trustees to be held on July 29 and 30. Currently, EPFO ​​can invest 5 to 15 percent of investable deposits in equity or equity-related schemes.

The proposal to revise the limit to 20 percent has been scrutinized and approved by the Finance Audit and Investment Committee (FAIC), an advisory body of the Employees Provident Fund Organization (EPFO). FAIC's recommendation will be placed before EPFO's highest decision-making body—the Central Board of Trustees (CBT)—for consideration and approval.

The Central Board of Trustees (CBT), headed by the Union Labor Minister, is likely to approve FAIC's recommendation to increase investmentin equity and equity-related schemes from the current 5-15 per cent to 5-20 per cent. In a written reply in the Lok Sabha on Monday, Minister of State for Labor and Employment Rameshwar Teli said, “The sub-committee of FIAC, CBTEPF has recommended a proposal to investment in CBT has reduced the investment pattern for EPF consideration from 5-15 percent to 5-20 percent.

EPFO started investing in Exchange Traded Funds (ETFs) in August 2015 with 5 per cent of its investable deposits in stock-linked products.

The notional return on EPFO's equity-linked investments has increased from 14.67 per cent in 2020-21 to 16.27 per cent in 2021-22 which had been a negative return during Covid. The response also pointed out that the notional rate of return on equity relatedinvestments of EPFO ​​was negative at (-) 8.29 percent in 2019-20 due to the impact of Covid-19.

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Day trading guide for Monday: 6 stocks to buy or sell today — 18th July

 Day trading guide for Monday: For a decisive upside move, Nifty needs to break its upper hurdle placed at 16,250 levels, say experts.

Day trading guide: Nifty bounced back from its support zone of 15,800 to 15,850 levels. However, it has strong resistance placed at 16,250 to 16,300 zones, say experts

Day trading guide for Monday: On account of dollar index climbing to 20-year high and fears of economic slowdown gaining momentum after the US inflation hit 41-year high, Indian stocks ended in red zone on four out of five sessions last week. Nifty 50 index recorded weekly loss of 1.06per cent whereas BSE Sensex ended last week with 1.32 per cent loss. Volatility index India VIX lost 4 per cent on Friday and ended at 17.60

According to stock market experts, small body of positive candle was formed on the daily chart with long lower shadow. Technically, this pattern indicate hammer type candle pattern (not a classical one). Normally, a formation of hammer after a Reasonable upside move or decline could indicate possible trend reversal on either side. Hence, one may expect upside bounce from here.

Day trading guide for stock market today: On day trading guide for Nifty today, Chinmay Barve, Head — Technical and Derivative Research at Profitmart Securities said, "In last two trading sessions; Nifty has managed to bounce back from its crucial support zone of 15,800 to 15,850 levels. However the Nifty has strong resistance placed at 16,250 to 16,300 zones, which needs to be surpassed for any decisive directional up move to take place."

"The positive chart pattern like higher tops and bottoms is intact and the swing low of Thursday at 15,858 could now be considered as a new higher bottom of the sequence. The said higher low was formed at the key lower support of ascending trend line around 15,850 levels (connected from the swing lows of 17th June and 1st July). Hence, this could mean chances of more upside in the short term," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.Explaining the Nifty Bank chart pattern, Mehul Kothari, AVP — Technical Research at Anand Rathi said, "Nifty Bank index slightly under performed the benchmarks by falling around 1.25 per cent and closing below 35,000 mark. Previously we discussed that going ahead; 35500 – 36000 zone would be a real test for the bulls since we have a placement of 200 day moving averages also there. In line with the view; index took turn from 35500 and hence we maintain our stance. Only a move above 35500 might bring in some optimism in the markets. On the downside; the trigger point could be 34300 which is the gap area and a breach of the same could bring in some softness or profit booking in the banking stocks."

Day trading stocks:Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mehul Kothari of Anand Rathi and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 6 shares to buy today.

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मूडीज ने 2019-20 के लिए देश की जीडीपी ग्रोथ का अनुमान 6.2% से घटाकर 5.8% किया

कहा- ग्रामीण इलाकों में नकदी की कमी जैसी वजहों से खपत-निवेश प्रभावित

पिछले हफ्ते आरबीआई ने भी ग्रोथ अनुमान 6.9% से घटाकर 6.1% किया था

अमेरिका की क्रेडिट रेटिंग एजेंसी मूडीज इन्वेस्टर्स सर्विस ने चालू वित्त वर्ष (2019-20) के लिए भारत की जीडीपी ग्रोथ का अनुमान 6.2% से घटाकर 5.8% कर दिया। मूडीज ने गुरुवार को कहा कि अर्थव्यवस्था में सुस्ती साफ दिख रही है।

2020-21 में 6.6% ग्रोथ की उम्मीद: मूडीज

मूडीज के मुताबिक ग्रामीण इलाकों में नकदी की कमी और रोजगार के कम अवसर जैसी वजहों से खपत और निवेश में कमी दर्ज की गई। मंदी की और भी कई वजह हैं। इनमें घरेलू वजह प्रमुख हैं।

मूडीज ने 2020-21 में 6.6% और मध्यम अवधि में 7% ग्रोथ की उम्मीद जताई है। उसका कहना है कि अगले दो साल में जीडीपी ग्रोथ ज्यादा अच्छी नहीं रहेगी।

पिछले महीने एशियन डेवलपमेंट बैंक और द ऑर्गेनाइजेशन ऑफ इकोनॉमिक कॉर्पोरेशन एंड डेवलपमेंट ने भी 2019-20 के लिए जीडीपी ग्रोथ का अनुमान घटा दिया था। पिछले हफ्ते आरबीआई ने भी 6.9% से घटाकर 6.1% कर दिया था।

वित्त मंत्री निर्मला सीतारमण ने गुरुवार को कहा कि अर्थव्यवस्था में सुस्ती से निपटने के लिए सरकार सेक्टर विशेष से जुड़े समाधान कर रही है।

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Indain Stock Market Today/ सेंसेक्स में 246 अंक की तेजी, निफ्टी 59 प्वाइंट चढ़कर 11200 के ऊपर पहुंचा

प्राइवेट बैंकों के शेयरों में ज्यादा खरीदारी, यस बैंक में 4% उछाल

जी एंटरटेनमेंट के शेयर में 11%, बीपीसीएल में 3% गिरावट

शेयर बाजार एक बार फिर बढ़त में आ गया। सेंसेक्स 246 अंक चढ़कर 37,919.47 तक पहुंचा। निफ्टी में 59 प्वाइंट की बढ़त दर्ज की गई। इसने 11,233.85 का उच्च स्तर छुआ। इससे पहले दोनों इंडेक्स शुरूआती बढ़त गंवाकर नुकसान में आ गए थे।

निफ्टी के 28 शेयरों में बढ़त

सेंसेक्स के 30 में से 15 और निफ्टी के 50 में से 28 शेयरों में बढ़त देखी गई। प्राइवेट बैंकों के शेयरों में ज्यादा खरीदारी हो रही है। यस बैंक के शेयर में 4% उछाल आया। एचडीएफसी बैंक 2.2% चढ़ा। कोटक बैंक में 1.7% और आईसीआईसीआई बैंक में 1.4% तेजी आई।

ग्रासिम के शेयर में 1.5% गिरावट

दूसरी ओर जी एंटरटेनमेंट का शेयर 11% लुढ़क गया। हालांकि, निचले स्तर से कुछ रिकवरी हो गई। बीपीसीएल के शेयर में 3% गिरावट आई। इंडसइंड बैंक 2% नीचे आ गया। ग्रासिम में 1.5% और हीरो मोटोकॉर्प में 1.4% नुकसान देखा गया।

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Indian Stock Market today- Airtel Bank, ICICI Prudential tie up to offer insurance

ICICI Prudential Life Insurance has signed a corporate agency agreement with Airtel Payments Bank for easy access to life insurance and savings plans for its customers, enabling them to provide financial security to their families and build long-term savings.

ICICI Prudential Life Insurance Managing Director and CEO N.S. Kannan said: "This partnership has paved the way for the Bank's account holders to expeditiously purchase life insurance and offer a financial safety-net to their families.

"Bridging the protection gap in the country is imperative and the need of the hour is to offer affordable and simple products and leverage technology to smoothen the purchase experience. This association will enable the Bank to offer a long term savings product and enable customers to achieve their financial goals and simultaneously facilitate increasing our presence in under-served customer segments."

This partnership aims to leverage Airtel Payments Bank's deep distribution network and digital reach to offer millions of un-insured Indians with innovative and affordable life insurance products by ICICI Prudential Life Insurance, the company said.

Airtel Payments Bank Managing Director and Chief Executive Officer Anubrata Biswas said: "We are delighted to partner with ICICI Prudential Life Insurance as part of our endeavor to offer a bouquet of well-designed and innovative insurance products to millions of under-insured and un-insured Indians through our extensive distribution network and digital reach. This association is one more step taken by us to contribute towards the Government of India's vision of creating a financially inclusive society."

To begin with, on the protection platform, ICICI Pru iProtect Smart and on the savings platform, ICICI Pru Anmol Bachat will be available in phases to Airtel Payments Bank customers. ICICI Pru Anmol Bachat plan is a unique micro-insurance product offering dual benefits of savings and protection in small value sachets, designed for the under-insured while ICICI Pru iProtect Smart is a term plan that offers protection.

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