Weekly Market Review

Hyderabad (NVS): Following the successful landing of India ‘s Chandrayaan -3 on moon ‘s south pole, the first of its kind in the world, indeed, India ‘ s ranking index of eco-technological has improved significantly. Therefore, despite thickening war clouds in Russia, Ukraine , Europe, Middle East and Taiwan, the market sentiment in home markets improved significantly.

The New York gold closed at US $ 1,914.80 (per Ounce) while silver closed at $ 24.22 (per Ounce). Platinum and Palladium closed at $ 946 (per Ounce) and $ 1,197 (per Ounce) respectively.

Other economic parameters remained moderate. Brent closed at US $ 84.48 (per barrel) while Crude MCX oil was quoted at Rs.6,542 (per barrel). While Gold MCX stood at Rs.58,640(per 10 gms), MCX Silver closed at Rs.73,627 (per kg), Copper MCX closed at Rs.730.10 (per kg). Sensex and Nifty 50 closed at 64,886.51 and 19,265.80 points. Leading foreign currencies’ exchange rates were, US $: Rs.82.55, British Pound: Rs.103.85, Euro: Rs.89.11, Singapore $: Rs.60.87, Swiss Franc: Rs.93.33, Australian $: Rs.52.86, Saudi Riyal: Rs.22.00, New Zealand Dollar: Rs.48.72, Kuwaiti Dinar: Rs.267.77, Omani Rial: Rs.214.53, UAE Dirham: Rs.22.47, Japanese Yen: Rs.0.5, and Hong Kong Dollar: Rs.10.54.

In local markets, standard gold (24 carats) appreciated by Rs.430 and closed at Rs.59,450 (per 10 gms). Ornamental gold too, followed the suit and was quoted in the range of Rs.54,400 – 54,500 on the closing day. Silver (0.999)appreciated by Rs.3,500 and closed at Rs. 80,000 (per kg).

COMMODITIES

Rythu Bazars and the various commodity markets located in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir AlamMandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar recorded moderate trading.

During the week, common pulses such as tuar dal, masoor dal, moong dal and urad dal and commodities like chillies and garlic remained unchanged at their respective last week’s closing levels, while staple food-grains and common edible oil remained steady.

Common vegetables such as cabbage, cauliflower, ribbed guard, snake guard, lady fingers, cucumber, potatoes, onions, tomatoes and French beans along with other leafy vegetables declined marginally.

The NECC wholesale egg-price in Hyderabad appreciated by Rs.25 and closed at Rs.435 (per 100) while highest price of Rs.550 was recorded at Kolkata.