FX Updates: Top currency gainers are Swiss Franc (0.26%), Euro (0.08%), British Pound (0.02%) and Japanese Yen (0.21%). Biggest losers are South Korean Won (-0.25%) and Dollar Index (-0.08%).
Anil Yadav
Brent Crude Oil Falls to 8-Month Low
Brent crude futures fell to below the $75.9 per barrel mark on Tuesday, the lowest since mid-December 2023, as expectations of muted demand magnified the impact of relatively ample supply. A batch of new data from China exacerbated concerns that economic growth from one of the worldтАЩs largest oil consumers is unlikely to bounce back this year, with key gauges of domestic factory demand dropping more than expected in August.
Gold Weekly Forecast: Gold Investors Await US Labor Market Data
Financial markets in the US will remain closed in observance of the Labor Day holiday on Monday. On Tuesday, the ISM Manufacturing Purchasing Managers Index (PMI) for August will be featured in the US economic docket. Investors expect the headline PMI to edgehigher to 47.8 from 46.8 in July. A reading above 50, which would suggest that the business activity in the manufacturing sector recovered back into the expansion territory, could provide a boost to the USD with the immediate reaction and weigh on Gold.
Genus Power Share: Multibagger power stock is in news today as firm bags orders worth Rs 4,409 crore
Shares of multibagger Genus Power Infrastructures (NSE: GENUSPOWER) are in news today after the firm said its wholly owned subsidiary won orders worth Rs 4,469.04 crore. The power stock ended on a flat note at at Rs 444.05 on BSE on Wednesday against the previous close of Rs 445.70. Market cap of Genus Power rose to Rs 13,488 crore.
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Tata Technologies drops 3% after transfer of 12 million shares via block deal
Shares of engineering services company Tata Technologies had fallen nearly 3.4 per cent to touch an intra-day low of Rs 1,013 after reports indicated that nearly 12,487,204 (12 million) shares changed hands at an average price of Rs 1,024.1 per share, in early block deals on the BSE on Tuesday.
Gold price dips Rs 10 to Rs 72,760, silver falls Rs 100 to Rs 85,800
Gold Price Today:The price of 24-carat gold dipped Rs 10 in early trade on Tuesday, with ten grams of the precious metal trading at Rs 72,760, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 85,800.