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Weekly Market Review- 15-10-2023
With the unprovoked sudden aggression by the terrorist outfit of Palestine on Israel on October 7, and the subsequent retaliation by Israel, has opened a new war theatre after Russia -Ukrain.
Hyderabad (NVS): With the unprovoked sudden aggression by the terrorist outfit of Palestine on Israel on October 7, and the subsequent retaliation by Israel, has opened a new war theatre after Russia -Ukrain. While most of the Islamic countries have expressed themselves in favour of Palestine, nearly 90 countries including India, the USA and European Union have stood by Israel. The global markets have been reeling under tremendous uncertainty.
The New York gold closed at US $ 1,932.50 (per Ounce) while silver closed at $ 22.73 (per Ounce). Platinum and Palladium closed at $ 881 (per Ounce) and $ 1,130 (per Ounce) respectively.
Other economic parameters remained moderate. Brent closed at US $ 90.89 (per barrel) while Crude MCX oil was quoted at Rs.7,269 (per barrel). While Gold MCX stood at Rs.59,415 (per 10 gms), MCX Silver closed at Rs.71,360 (per kg), Copper MCX closed at Rs.698.40 (per kg). Sensex and Nifty 50 closed at 66,282.74 and 19,751.05 points. Leading foreign currencies’ exchange rates were, US $: Rs.83.28, British Pound: Rs.100.97, Euro: Rs.87.55, Singapore $: Rs.60.77, Swiss Franc: Rs.92.11, Australian $: Rs.52.36, Saudi Riyal: Rs.22.20, New Zealand Dollar: Rs.49.03, Kuwaiti Dinar: Rs.267.16, Omani Rial: Rs.216.50, UAE Dirham: Rs.22.67, Japanese Yen: Rs.0.56, and Hong Kong Dollar: Rs.10.64.
In local markets, standard gold (24 carats) appreciated by Rs.3,100 and closed at Rs.60,540 (per 10 gms). Ornamental gold too, followed the suit and was quoted in the range of Rs.55,300 – 55,400 on the closing day. Silver (0.999) appreciated by Rs.2,500 and closed at Rs.77,000 (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 gained over 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.10 and closed at Rs.515 (per 100). The highest price of Rs.605 was recorded at Kolkata while Namakkal, Ajmer, Jabalpur, Ludhiana ecorded the lowest of Rs.510.
