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The Indian rupee is likely to see appreciation bias on Friday, 06 May 2022 on the back of weakness in the US currency in early Asia although elevated crude oil prices and sustained foreign fund outflows from the domestic market will continue to restrict gains in the local unit. Rupee gained against the US dollar after a surprise rate hike by the Reserve Bank of […]

COMEX Gold tanked from one week high in last session, falling nearly 2%. The US dollar surged on heavy risk aversion. The Federal Reserve on Wednesday announced its widely expected decision to raise interest rates by half a percentage point. The Fed announced that it has decided to raise the target range for the federal funds rate by 50 basis points to 0.75 to 1.0 […]

Labor productivity in the U.S. showed a substantial pullback in the first quarter of 2022, according to a report released by the Labor Department. Labor productivity plunged by 7.5 percent in the first quarter, reflecting the largest decline since the third quarter of 1947. The sharper than expected pullback in productivity, a measure of output per hour, came as output slumped by 2.4 percent and […]

The US Energy Information Administration reported a larger-than-expected injection of 77 Bcf to gas storage for the week ended April 29. The US working gas inventories climbed to 1.567 Tcf. The storage deficit to 2021 narrowed again as stocks climbed to 382 Bcf, or about 20%, below the year-ago level of 1.949 Tcf. The inventory deficit to the prior five-year average expanded to its widest […]

Both the companies will collaborate on a portfolio of 5G products for the telecommunications sector, including 5G radio access network and 5G transport equipment.

The US stock market finished session steep lower on Thursday, 05 May 2022, erasing more than the prior days rally on Wall Street, as profit booking triggered across the board amid concerns about higher rates, inflation, and the economic outlook. Doubts that policy makers can arrest runaway prices rocked markets, with the prospect of stagflation unsettled investors. Meanwhile, sharp increase in treasury yields also weighed […]

The Labor Department released a report showing a modest increase in first-time claims for US unemployment benefits in the week ended April 30th. The report showed initial jobless claims rose to 200,000, an increase of 19,000 from the previous weeks revised level of 181,000. The Labor Department said the less volatile four-week moving average also edged up to 188,000, an increase of 8,000 from the […]

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could tumble 283 points at the opening bell. Global markets: Overseas, Asian stocks are trading lower on Friday after an overnight drop on Wall Street sent the Dow Jones Industrial Average to its worst day since 2020. Technology stocks in the region sold off, following the tech-heavy Nasdaq […]

Indus Towers: The company reported 34% rise in consolidated net profit to Rs 1829 crore on 10% rise in revenue to Rs 7116 crore in Q4 FY22 over Q4 FY21. Marico: The company reported 8% rise in consolidated net profit (excluding one-offs) to Rs 256 crore on 7% rise in revenue to Rs 2161 crore in Q4 FY22 over Q4 FY21. TVS Motor Company: The […]

With effect from 04 May 2022