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At the interbank foreign exchange, the local unit opened at 86.58, went up 10 paise from Friday’s close of 86.68, but gave way through the session.
According to Geojit Financial Services, The International Grains Council has scaled down its estimate for global production in 2024-25 by 3 million tonnes to 2,301 million tonnes, compared to its projections in January, according to a grain market report released Thursday.
Short-term movements in oil prices will depend on whether the US increases or reduces sanctions, a decision likely influenced by Russia’s willingness to negotiate an end to its conflict with Ukraine.
The RBI has infused more than 3.6 trillion rupees ($41.56 billion) of durable liquidity into the banking system through a combination of debt purchases, FX swap and longer duration repos.
According to Geojit Financial Services, Sowing of rabi crops in Telangana increased to 6.8 million acres (1 acre = 0.4 hectares) as of Wednesday,up nearly 9.1% from 6.2 million acres a year ago, according to a report by the state agriculture department.
According to Geojit Financial Services, The National Agricultural Cooperative Marketing Federation of India procured 2.82 million tonnes of oilseeds as of Monday, slightly more than the 2.78 million tonnes purchased as of Feb. 11, according to data by the central procurement agency released on Tuesday.
Spot gold rose 0.2% to $2,937.74 an ounce by 0235 GMT, trading near the all-time high of $2,946.85 hit on Wednesday. U.S. gold futures gained 0.7% to $2,955.90
According to Geojit Financial Services, The value of India's rice exports in January rose 44.6% on year to $1.4 billion, while import of pulses soared 144.6% on year to nearly $756 million, according to data released by the Ministry of Commerce and Industry on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,937.83 crore in the capital markets on net basis on Monday, according to exchange data
According to Geojit Financial Services, India exported 1.1 million tonnes of spices in Apr-Nov, up 11% on year from 955,477 tonnes exported a year ago, according to data from the Spices Board of India. Total exports of spices in dollar terms rose 7% on year to $2.87 billion during Apr-Nov. In rupee terms, exports rose 8% to INR 240.32 billion, the data showed.
According to Geojit Financial Services, The Cotton Association of India has lowered its January estimate for the country's cotton production for 2024-25 (OctSept) to 30.18 million bales (1 bale = 170 kg). In December, it had estimated the country's cotton production at 30.43 million bales.
Bullion traded near $2,886 an ounce, after tumbling 1.6% on Friday
The upcoming meeting between top officials from the US, Ukraine, and Russia in Saudi Arabia, aimed at resolving the Russia-Ukraine war, will be pivotal for market sentiment. A successful outcome could weigh on gold and oil prices, while fueling a rally in riskier assets.
According to Geojit Financial Services, Rabi sowing in Andhra Pradesh progressed to 1.8 million hectares as of Wednesday, up 11.2% from 1.6 million hectares a year ago, according to a report released by the agriculture department.
Donald Trump and Vladimir Putin’s agreement to negotiate an end to the Ukraine war has sparked market optimism. Oil prices fell, stock futures rallied, and analysts anticipate energy and food trade flows to improve, though key uncertainties remain.
The tariff and removal of carve-outs implies a significant increase in costs for US consumers. That raises the possibility of negotiations but US will bargain from a position of strength especially after it imposes reciprocal tariffs
According to Geojit Financial Services, The US Department of Agriculture has trimmed its estimate for global oilseed output in 2024-25 to 677.70 million tonnes from 680.35 tonnes projected a month ago, it said in its World Agricultural Supply and Demand Estimates report for February.
The exchange plans to invest an estimated Rs 400-600 crore in this expansion, according to the announcement.
According to Geojit Financial Services, Rabi crops have been sown across 6.5 million hectares in Maharashtra as of Monday, up 10.2% from 5.9 million hectares covered in the corresponding period last year, according to a report by the state agriculture department.
According to Geojit Financial Services, The country's horticulture crop output for 2024-25 (Jul-Jun) has been pegged at 362.1 million tonnes, 2.1% higher on year, according to the first advance estimate released by the Department of Agriculture and Farmers' Welfare.
Gold has hit an eighth record-high level so far this year, driven by Trump’s tariff threats, which have fuelled global growth uncertainties, trade war concerns, and inflationary pressure.
The local unit, however, pared the initial losses and finally settled on a flat note at 87.50 (provisional), unchanged over its previous close.
The US intends to impose a 25 percent tariff on steel and aluminium and also levy reciprocal tariffs on all imports, posing risks to metal producers in particular and industry in general
According to Geojit Financial Services, Rabi sowing in Andhra Pradesh has reached 1.7 million hectares as of Wednesday, marking a 14.8% increase from 1.5 million hectares during the same period last year, according to a report from the state agriculture department.
Spot gold was up 0.3% at $2,868.66 per ounce, as of 0005 GMT, after hitting a record high of $2,886.62 on Friday
