Spot gold was up 1.35% at USD 5,348.49 an ounce as of 2316 GMT, while US gold futures climbed 2.2% to USD 5,362.30 per ounce. The rally underscores investor flight to safety amid rising geopolitical risks.
India’s market outlook is turning increasingly constructive, as resilient GDP growth, improving earnings expectations and supportive monetary policy begin to lift investor sentiment, a new report said on Monday.
“Unlike the past trend, the actual results were in line with the exit polls but the mandate was stronger this time,” said JM Financial Institutional Securities in its latest note.
The Indian markets started the day on the lower side on Friday, tracking weak global cues amid new Trump tariffs. The pharmaceutical stocks took the biggest hit, with Nifty Pharma declining 2.75 per cent.
US President Donald Trump stated that India is working on a trade deal along the same lines as the one he announced with Indonesia, which will provide the US with greater access to the Indian market.
A few years back, the ‘Made in China’ toys were ruling the Indian market but not anymore, according to industry data.
Adani Group's market capitalization continued to gain for the ninth consecutive day on Wednesday. The group's market capitalization crossed Rs 16.5 lakh crore on Wednesday, gaining 10.6 per cent in the past nine trading sessions.
Overseas funds held 31,549 more long index futures contracts than short contracts as of Thursday.
After sustained buying for three months, FPIs have turned sellers in the Indian market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The S&P BSE Sensex index was down 196 points to 58,025.17 level whereas Nifty50 dipped 51 points to 17,280 at 9.51 IST on Friday.
