News Overview

West Texas Intermediate (WTI) futures for May delivery were down 38 cents at $85.28 a barrel, while Brent futures for June delivery dropped 24 cents to $90.21 a barrel.

Spot gold was up 0.3% at $2,350.59 an ounce. On Friday, the price of gold reached a record high of 2,431.29.

Early in the Asian day, the dollar set a 34-year high against the yen and a five-month high against the euro on Friday.

On the nifty index, Divis Lab, Bajaj Auto, Tata Motors, TCS, and Nestle India were the top gainers on Friday.

The US Food and Drug Administration (USFDA) examined the company's Unit V plant in Visakhapatnam on April 8 and 12, and completed the audit with zero 483 observations.

With higher than expected inflation and ambiguous minutes, rate cuts may only happen by September 2024.

The big news for the week was the frenetic spike in the dollar index (DXY).

FPIs were net buyers of $1.64 Billion this week, despite it being a truncated trading week.

The Friday effect led the weekly gains being wiped out, leading to a flat closing for Nifty and Sensex.

Inflation for March 2024 was led lower by core and fuel inflation, even as food prices stayed elevated.