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The rupee was little changed at the opening time on Friday amid expectations that the country's central bank will intervene, which countered weak risk appetite, a stronger US dollar and rising oil prices.
India Business News: Gold prices reached a new all-time high on Thursday, influenced by global commodity prices. US Fed Chair Jerome Powell's statement, indicating that recent job numbers and higher-than-expected inflation wouldn't change the central bank's monetary strategy much, boosted investor confidence in gold, sparking increased buying activity.
Gold hit yet another lifetime high in the opening trade on Thursday taking cues from the international commodity prices. US Fed chair Gerome Powells statement that the recent job numbers and higher-than-expected inflation readings do not significantly alter the central bank's monetary strategy, lifted the investor mood for bullion triggering a fresh wave of buying activity.
Kotak Institutional Equities expressed concerns over OMCs' capex plans due to limited pricing freedom. Government's petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL.
Gold prices on MCX and silver futures surged, driven by US Federal Reserve's rate cut hopes and geopolitical tensions. Analysts project bullish trajectory.