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Global markets mixed as contagion fears grip the investors after weekend rescue deal for Credit Suisse; all eyes on US Fed. Global markets update: The central banks and governments over the weekend hatched a deal to rescue Credit Suisse and First Republic Bank, but the contagion fears of a larger baking crisis remain. Asian stocks opened mixed on Monday. All eyes are now on US Federal Reserve, which will announce its monetary policy decision on March 22. Asia Market Asian stocks steadied and U.S futures rose on Monday in relief at a weekend rescue deal for Credit Suisse and a concerted effort from central banks to shore up the mood, though trade was tense and volatile as contagion fears stalked financial shares. UBS-Credit Suisse rescue deal In an effort to avoid further market-shaking turmoil in the global banking system, UBS is buying troubled rival Credit Suisse for almost $3.25 billion. The Swiss bank is paying 3 billion francs ($3.3 billion) for its rival in an all-share deal tha...

Gold rate today climb to intraday high of ₹58,277 per 10 gm on MCX and came more close to its record high of ₹58,847 per 10 gm levels Gold rate today: On account of ease in bank crisis and European Central Bank (ECB) raising interest rate on sixth straight meeting, gold and silver price today ascended in early morning deals. Gold price came further close to its life-time high of ₹58,847 per 10 gm levels and hit intraday high of ₹58,277 levels, around ₹600 per 10 gm away from its record high on Multi Commodity Exchange (MCX). Gold future contract for the month of April 2023 on MCX today opened upside at ₹58,269 per 10 gm and went on to hit intraday high of ₹58,277 levels. But, profit booking triggered soon and gold price today made intraday low of ₹58,174 per 10 gm. Silver future contract fro May 2023 on MCX opened higher at ₹67,140 per kg levels and went on to hit intraday high of ₹67,417 per kg levels within few minutes of market opening. Why gold, silver prices are skyrocketing On r...

Global Surfaces has set IPO price band at ₹133-140 per share Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, has launched its initial public offering (IPO) for subscription on Monday, March 13 till Wednesday, March 15. The company has set a price band of ₹133-140 a share. As of 10:40 am on day 1, the issue has been subscribed 0.04x as retail investors' category booked 0.08x, NIIs 0.01x, BSE data showed. As per market observers, Global Surfaces shares are commanding a premium (GMP) of ₹35 in the grey market today. The shares of the company are expected to list on leading stock exchanges BSE and NSE on March 23, 2023. Global Surfaces IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters - Mayank Shah and Sweta Shah. Funds raised through fresh issuance will be used for setting up the company's proposed facility. “The company's operational revenue is primaril...

Vedanta shares rose on Wednesday after falling sharply in Tuesday's session Shares of Vedanta Ltd surged nearly 2% to ₹275 apiece on the BSE in Wednesday's opening deals after billionaire Anil Agarwal's Vedanta Resources Ltd on Tuesday said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. The company added that it prepaid all of its maturities due till March 2023.   "Vedanta Resources Limited has pre-paid all of its maturities due till March 2023 and has deleveraged by USD 2 billion in the past 11 months. Thus, it has achieved half of its USD 4 billion 3-year debt reduction commitment in the first year, ahead of its plans for this fiscal," it said in a statement. The stock had fallen about 14% in the previous session after the road block in its acquisition of state-owned Hindustan Zinc and sharp rise in US dollar that led to depreciation of Vedanta bond yield. Ear...

Share Market LIVE Updates: Benchmark indices are trading in the red amidst volatility as Sensex goes below 59,000 and Nifty at around 17,300. . Adani Enterprises and Adani Ports shine, while Cipla and Hindalco lag. Most indices are trading in red except Media and Consumer Durable. Metal, IT, Energy, and Pharma tank the most. The government will release India’s GDP data for the October-December 2022 quarter (Q3FY23) today. The GDP growth rate moderated to 6.3% in the preceding quarter after a double-digit expansion in the Q1 of the current financial year.   MRF raises ₹150 crore, NCDs listed on NSE debt segment Tyre manufacturer MRF on Tuesday announced that the company has raised ₹150 crore through non-convertible debentures (NCDs) on a private placement basis. The said NCDs of the company have been listed on the debt segment of National Stock Exchange with effective from 27 February 2023. The company said that it has issued 15,000 listed, unsecured, rated, redeemable, taxable, no...

Gold price today has immediate support placed at $1,785 to $1,780 per ounce levels in international spot market Gold rate today: On account of strong U?S dollar and hawkish US Federal Reserve on rising US inflation concerns, gold prices continue to remain under sell off pressure and hover around 2-month lows. Gold price today opened lower in domestic market at ₹55,397 per 10 gm and went on to hit further lower levels in early morning session. The yellow metal price corrected in international spot market as well and made intraday low of $1,806.78 per ounce in morning deals on Monday session. However, US dollar rates continued to remain strong on US Fed interest rate hike speculations. After witnessing some profit booking in early morning session, Dollar Index regained its lost ground and added 0.03 per cent and hit 105.190 levels.   According to bullion market experts, gold rates today is under pressure due to stock US economic data, which has stoked inflation fear among the US Fed...

Share market LIVE updates: Indian indices were lower on Friday as financials sustained the slide on risk aversion due to Hindenburg's report on the books of Adani group companies. At 11am, Sensex was down 754.54 pts at 59,450.52, and Nifty fell 210.50 pts to 17,681.45 Asian stocks rose on Friday and were poised for their fifth straight week of gains after data highlighted a resilient U.S. economy, boosting investor sentiment ahead of next week's slate of central bank policy meetings. MSCI's broadest index of Asia-Pacific shares outside Japan rose as much as 0.55% to hit an almost nine-month high of 562.10. Adani Group stocks fall amid attack from Hindenburg Research Adani Group's listed companies fell on Friday, adding to losses from Wednesday when New York-based Hindenburg Research flagged concerns in a report about debt levels and the use of tax havens at the conglomerate. Adani Transmission Ltd tumbled 19.2% and Adani Total Gas sank 19.1% in their biggest daily drop ...