News Overview

Spot gold increased 1% to $1,850.87 per ounce after reaching a record high over the past week. American gold futures increased 1.1% to $1,865.20 for an ounce.

According to the reports, KSSF will support the $450 million (Rs 3,800 crore) acquisition with a $200 million capital round made up of a combination of structured debt and equity.

Chinese Shanghai Composite is trading 0.73% lower.

Here are some of the stocks that may see significant price movement today.

The Mirae Asset Nifty 200 Alpha 30 ETF is a passive fund that will be benchmarked to a smart beta index.

For the week to October 06, 2023, the CME Fedwatch was once again stable. There is now a broad consensus that the Fed will hold rates at elevated levels for longer. In the coming week, the US inflation and minutes of the Fed policy will have a bearing on the CME Fedwatch.

In the light of the hawkish undertones in the RBI policy, the 10-year bond yields spiked during the week to a 7-month high. The rupee continued to stay week on the back of the persistent strength in the dollar index. Falling crude prices was a saving grace for the Indian markets.

The month of September 2023 saw net FPI selling for the first time since February. FPI selling was largely driven by global factors. Power and oil saw FPI selling while capital goods saw aggressive buying by the FPIs.

The markets almost close the week flat, but there were diverse trends visible While IT was clearly in the green, the oil & gas and auto sectors saw pressure building up. RBI policy put pressure on the markets, due to its distinctively hawkish undertone.

Foreign portfolio investors (FPIs) sold close to $1 billion of equities in the Indian market in the first week of October. While US bond yields and dollar index did matter, it was the more than expected hawkish view of the RBI in its October policy that heightened FPI selling.