Gold price in the national capital on Wednesday declined by Rs 216 to Rs 47,010 per 10 gram in tandem with decline in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 47,226 per 10 gram. Silver also tanked Rs 179 to Rs 61,348 per kg from Rs 61,527 per kg in the previous trade.d.
Rate reversal will, of course, have an impact on all sectors but the intensity of impact will be different across sectors. Banking and NBFCs, real estate, capital goods and auto may get impacted more as they are driven by interest rate setting.
Investors are worried that risk aversion among consumers is likely to further dampen the March and June quarter earnings of hotel companies just when they were showing signs of revival. Shares of hotel and entertainment sector stocks fell 2-3 per cent on these concerns.
The exchange has seen a high growth from Asian and African countries which constitute about 70 per cent of its user base. India constitutes a fifth of its overall users.
NTPC Renewable Energy Ltd., a fully owned subsidiary of the New Delhi-based firm, plans international roadshows in the fiscal year starting April to find a partner and hopes an investor will boost the value of the subsequent IPO, said the official, who asked not to be identified because the plans are still private.
The Nifty Bank index closed 0.39 per cent down at 35045.4.
An individual who earns more than Rs 2.5 lakh per annum and has trading income needs to declare the latter as business income and consequently file Income Tax Return 3 along with ITR 1. For a retail trader, getting an audit done for a trading account of an average size of Rs 1 lakh is over Rs 5,000, which is expensive, Kamath said.
Among the stock-specific action, Nureca, Cybertech Systems and India Glycols hit their upper circuits of 20 per cent each. Manaksia Aluminum and Jaiprakash Power Ventures topped in the losers pack on the back of profit booking.
Γ’β¬ΕOne should look pure bottoms up and look at the size of the opportunity and within that opportunity, can play depending on the various valuation and quality ratios.Γ’β¬Β
Analysts see support for the index at 17,100 while they see resistance at 17,300 level.
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