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Jul 25, 2023
Gold Price Today, 22 Feb: Gold flat, dollar edges up; positive US services data increases rate hike concerns

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate is trading flat on Wednesday despite negative global cues, while the silver rate is down 0.32%. On Multi Commodity Exchange, gold April futures were trading at Rs 56,161 per 10 grams, down Rs 7 or 0.01%. Silver March futures were trading lower by Rs 212 at Rs 65,566 per kg on MCX.

Globally, the yellow metal prices rose marginally on Wednesday, as investors awaited minutes of the U.S. Federal Reserve’s latest policy meeting to assess prospects of further interest rate hikes, according to Reuters. Spot gold was up 0.1% at $1,835.40 per ounce. U.S. gold futures firmed 0.1% to $1,845.10.

“However there are also concerns about a slowdown in global growth which was alarmed by housing numbers which showed some pressure. Market participants’ focus this week will be on the FOMC meeting minutes, U.S. GDP and Core PCE data. Broader trend on COMEX could be in the range of $1820-1860 and on domestic front prices could hover in the range of Rs 55,820-56,500,” said Manav Modi, MOFSL.

Upside potential for gold appears to be limited

“Gold prices on Tuesday slipped lower, as it lost 0.37 percent and concluded at 1834.3 per ounce. The U.S. Federal Reserve’s most recent policy meeting’s minutes, which may provide information about future interest rate increases, are eagerly expected by investors. The market anticipates the U.S. central bank to keep interest rates above 5% throughout the year. The U.S. central bank increased rates by 25 basis points in its recent meeting.

“U.S. business activity unexpectedly rebounded in February, reaching its highest level in eight months, according to a survey on Tuesday, which also showed inflation subsiding. Given the dollar’s continued strength and the likelihood that the U.S. Fed will continue raising interest rates, the upside potential for the yellow metal appears to be limited,” said Prathamesh Mallya, Angel One.

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Jul 25, 2023
Global trends to guide equities this week amid lack of major trigger in domestic markets

With the third quarter earnings calendar coming to an end and no major domestic trigger in sight, equity investors will focus on global trends and foreign fund movement this week, analysts said.

Markets may face volatile trends amid derivatives expiry during the week, they added.

Also read: Ambuja, ACC dropped from BSE 100 ESG

FPIs turned net buyers last week with an investment of over Rs 7,600 crore against net outflows of Rs 3,920 crore in the preceding week (From February 7-12).

Brent crude oil movement and the trend in the rupee would also be in focus this week.

“With all major events behind us, the performance of the global markets, especially the US, will be in focus for cues. Besides, crude and rupee movement will continue to offer indications in between,” Ajit Mishra, VP Technical Research, Religare Broking Ltd, said.

The BSE benchmark last week climbed 319.87 points or 0.52 per cent. “Dominated by the release of key macroeconomic numbers and persistent FII buying, domestic markets witnessed a positive trend during the last week.

Also read: Narrowing valuation gap with China may boost India flows

“However, the unfavourable combination of higher-than-expected inflation and a stronger job market in the US market dragged markets lower towards the end of the week, raising concerns about tighter monetary policy,” said Vinod Nair, Head of Research at Geojit Financial Services.

The lack of major triggers in the domestic market will attract global cues to dictate the market’s trend going forward, Nair added.

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Jul 24, 2023
How brands can capitalise on Durga Puja’s consumer spending splurge via influencer marketing

By Sreeram Reddy Vanga

With lavish pandal decorations, serene ambience, and charming festive tunes, Durga Puja celebrations delineate joy for everyone. As consumers wholeheartedly embrace the festive spirit, their inclination to make purchases grows, offering companies the potential for brand visibility and profitability. This upswing in consumer spending, a clear reflection of the widespread jubilation, sets the stage for businesses to strategically position themselves and reap the benefits of the economic upsurge.

The Durga Puja Creative economy is a well-oiled machine.

In 2021, Durga Puja achieved global recognition by being designated as a UNESCO Intangible Cultural Heritage. It is an exceptional instance of a vast creative economy centred around a festival, given its significant economic value and capacity to create job opportunities. During this period, advertising spending, on average, rose 45-50 per cent (Source). There are numerous opportunities for corporate sponsorships, branded events, and merchandising, among others. In this context, brands and influencers can associate with the puja celebrations to amplify their reach across all platforms by capitalising on the social media bandwagon. To that effect, Influencer marketing campaigns can include festive imagery and values to evoke emotions and connect with prospective customers.

Storytelling at the heart of festive influencer campaigns

Great stories create great connections. Hence, the narrative that resonates with the audience holds significant importance in any brand campaign, given the prevalent emphasis on relatability in today’s marketing landscape. The festival season is an excellent time for them to communicate with their audience by sharing tales they can relate to. To take the campaign to the next level, brands and content creators must capture the cultural essence of colloquialisms and leverage non-intrusive and engaging media formats. Content creators can effectively incorporate long-held myths and traditions into their campaigns, underscoring the significance of cultural celebrations nurtured through generations for that unique creative angle.

Harnessing the power of data

In a saturated marketplace, tailoring a campaign plan to cater to customers’ needs and interests is the key to differentiating brands and nurturing enduring relationships with the target demographic. This is where data-driven strategies that focus on personalisation come into play, as they enhance the customer experience, leading to increased engagement, spiked conversion rates, and improved customer retention. The insights gathered from influencer campaigns can be analysed to create different user personas. Based on this insight, the content can be continuously optimised and personalised by the content creators who speak directly to each segment. Moreover, marketing automation tools can be leveraged to implement personalisation at scale.

Rising above the market saturation

While every brand is trying to capture the attention of prospective customers, it becomes critical to formulate creative ideas in the campaigns to navigate through the noise. It could be a unique selling point, a compelling story, or an innovative approach to celebrating the season. The key here is to approach the psyche of the audience while devising campaigns that resonate with them and have a unique recall. Content creators here can bring a human element, which can be leveraged to appeal to the audience’s emotions. Furthermore, it’s important to note that influencer calendars tend to fill up quickly during the festive season. As the demand for influencer collaborations surges, content creators may already have commitments in place. Therefore, brands should plan their campaigns well in advance and ensure they align with the festive season.

All things considered

Like every festival, Durga Puja also experiences a spike in customer spending, which can be effectively capitalised via influencer marketing. Utilising content creators for product marketing is like tapping into a creative wellspring. Therefore during the festive seasons, brands can leverage these opportunities to interact meaningfully and enduringly with their audience. Given the market potential, it comes as no surprise why the influencer marketing industry is worth more than Rs 550 crore during the festive season. Owing to the benefits influencer marketing provides, brands have been proactively increasing their budget for social media content creators. As a result, the content creator market is anticipated to reach 290.3 million by 2025 at a CAGR of 25%, according to Kroll.

To put it simply, festivities such as Durga Puja are a special time for consumers, content creators and brands alike. Although it is an apt time for brands to capitalise on the spending culture seen during this time, they will succeed if they treat their campaigns as another celebration that goes hand in hand with their customers. I believe It’s not just about selling; it’s about becoming a cherished and integral part of the celebration, a presence that lingers long after the festivities have concluded.

The author is CEO and co-founder of Kofluence.

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Jul 24, 2023
NSE FO ban: Indiabulls Housing Finance and others under ban on Friday, February 10, 2023

The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to two stocks/securities on Friday, February 10, 2023. Indiabulls Housing Finance and Ambuja Cements are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Friday. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

Earlier, on Thursday, the total number of contracts traded in Index futures was 2,99,403 with a turnover of Rs 29,071.83 crore; while contracts traded in stock futures were 7,85,924 with a turnover of Rs 50,903.65 crore.

The same stocks, Indiabulls Housing Finance and Ambuja Cements were put on the F&O ban earlier on Thursday, February 9, 2023. The domestic equity indices ended the previous session mildly in green with BSE Sensex rising 142.43 points or 0.23% to 60,806.22 and NSE Nifty 50 climbed 21.75 pts or 0.12% to 17,893.45.

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Jul 24, 2023
Gold Price Today, 14 Feb: Gold higher despite selling pressure; traders eye US inflation data for further cues

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate is trading higher on Monday as a result of positive global cues, while the silver rate is up 0.42%. On Multi Commodity Exchange, gold April futures were trading at Rs 56,644 per 10 grams, up Rs 147 or 0.26%. Silver March futures were trading higher by Rs 281 at Rs 66,425 per kg on MCX. Globally, the yellow metal fell on Monday, preceding the US inflation data which would guide the US Federal Reserve’s monetary policy strategy, according to Reuters. Spot gold fell 0.5% to $1,854.79 per ounce, while U.S. gold futures settled 0.6% lower at $1,863.50.

Gold to remain volatile: Rahul Kalantri, Mehta Equities

Gold and silver prices traded lower on Monday, with silver hitting a 2.5-month low and gold a five-week bottom. The near-term chart postures for both metals have deteriorated recently, and hence the bullions are witnessing some technical selling pressure. Also, liquidation in the gold and silver futures markets featured yesterday, ahead of a key U.S. inflation report. The dollar index and the U.S. 10-year bond yields were steady on Monday ahead of the U.S. inflation reports.

Gold likely to trade with negative bias: ICICIdirect report

Gold prices traded on a weaker note on Monday as markets expected interest rates to remain above 5% for longer. Further hawkish comments from the Fed Governor Bowman to keep rates at higher levels has diminished bullish bets on the precious metals. Now the focus shifts towards the key US CPI data, which is expected to moderate to 6.2% against previous reading of 6.5%. Gold prices are trading near four week lows at 56380. A move below this level would weaken the price towards 56,000, followed by 55,800. MCX silver has been trading below the key support of 50 day EMA at 67,200. Hence, as long as it trades under this level it is likely to slide towards the next support of 65,200.

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Jul 23, 2023
Crude oil dips but heads for weekly gain despite US downturn fears

Oil prices fell in early trade on Friday but were headed for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world’s top oil importer. Brent crude futures fell 28 cents, or 0.3%, to $84.22 a barrel by 0117 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 35 cents, or 0.5%, to $77.71.

The downturn was partly due to a report on Thursday showing the number of Americans claiming unemployment benefits increased more than expected last week, which reignited recession fears. “Sentiment overnight seemed to be tilted towards the downside after the jobless data in the U.S. – however I expect the China demand recovery will be more material to the price outlook into (the second half of) 2023,” said Baden Moore, National Australia Bank’s head of commodity research.

The lower rate hike expectations drove the dollar down, which in turn supported oil prices. A weaker greenback makes oil cheaper for holders of other currencies and often sparks buying. The market has also been buoyed by Saudi Arabia’s move to increase its official crude sales prices to Asia, seen as signalling a demand recovery in China.

Analysts said U.S. inflation data on Feb. 14 will be key to risk sentiment and the dollar’s direction. “As inflation declines across Europe and the U.S., risks remain elevated that central banks will need to still deliver more tightening than what markets are pricing in,” OANDA analyst Edward Moya said in a note

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Jul 20, 2023
Petrol and Diesel Rate Today, 4 February: Fuel prices unchanged, Check rates in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Fuel prices continued to stagnate on Saturday, 4 February 2023, keeping costs steady for about eight months now. In Delhi, petrol is priced at Rs 96.72, while diesel in the National Capital is retailing at Rs 89.62 per litre. In Mumbai, petrol is retailing at Rs 106.31 per litre, and diesel is selling at Rs 94.27 per litre. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc. The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.

Since the cut of excise duty by the central government in May 2022, some states have also reduced VAT prices on fuels, while some have imposed cess on petrol, diesel The Punjab government has decided to impose a cess of 90 paise per litre on petrol and diesel in a meeting of the state cabinet here on Friday. Kerala Finance Minister KN Balagopal also announced a cess on petrol, diesel and liquor in the second full budget of the LDF government on Thursday. A social security cess of Rs 2 per litre will be slapped on petrol and diesel.

Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates. Any changes in petrol and diesel costs are implemented from 6 am every day. Oil Minister Hardeep Singh Puri recently asked OMCs to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down. OMCs incurred a loss of Rs 21,200 crore on account of selling petrol and diesel below the cost price.

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Jul 20, 2023
Crude oil prices fall as US rate hike worries overshadow demand outlook

Oil prices slid on Friday and were on track for weekly losses as strong U.S. economic data heightened concern that the Federal Reserve will continue tight monetary policy to tackle inflation, which could hit fuel demand even as crude stockpiles grow. Brent crude futures dropped 49 cents, or 0.6%, to $84.65 per barrel by 0105 GMT, while U.S. West Texas Intermediate (WTI) crude futures shed 46 cents, also a 0.6% loss, to $78.03. Both benchmarks were headed for a weekly decline of about 2%.

Data showed the U.S. producer price index rose 0.7% in January, after declining 0.2% in December. Meanwhile, jobless claims unexpectedly fell to 194,000, compared to the 200,000 forecast, according to a Reuters poll. “Strong U.S. data bolstered concerns over rate hikes and prompted a rise in U.S. Treasury yields, which weighed on oil and other commodity prices,” said Kazuhiko Saito, chief analyst at Fujitomi Securities Co Ltd.

“Still, the loss was limited as investors expect a recovery in fuel demand in China,” Saito said, predicting the market will continue to stay within a tight range for the time being without a clear direction. Oil prices have seesawed over the past weeks between fears of a recession hitting the United States amid inflation-fighting rate hikes and hopes for a pick-up in demand in China, the world’s top oil importer.

The International Energy Agency (IEA) said this week that China will make up nearly half of this year’s oil demand growth after it relaxed its COVID-19 curbs, but restrained production by OPEC+ countries – members of the Organization of the Petroleum Exporting Countries and allies – could mean a supply deficit in the second half.

Saudi Energy Minister Prince Abdulaziz bin Salman said the current OPEC+ deal to cut oil production targets by 2 million barrels per day would be locked in until the end of the year, adding he remained cautious on Chinese demand

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Jul 18, 2023
Nifty trades near 200-day SMA, intraday formation positive, support now at 17100; Buy HCL Tech, L&T for gains

By Shrikant Chouhan

The benchmark indices bounced back sharply, the NSE Nifty 50 ended 246 points higher while the BSE Sensex settled 776 points up. Among sectors, all the major sectoral indices were traded in the green but reality and energy gained the most, rallying over 3 per cent. Technically, once again the indices reclaimed the 17000/57000 mark and succeeded to close above the 50-Day SMA which looks grossly positive. After a promising pullback rally, the index is trading near its 200-Day SMA. For the short term traders, the support has shifted to 17100/57000 from 17000/56700. We are of the view that the intraday formation is positive and it is heading towards 17300-17350/57600-57800. On the flip side, quick intraday correction is not ruled out, if the indices trade below 17100/57000. Below the same, these may retest the level of 17050-17000/56800-56700.

Post correction of the last few sessions the stock has formed a reversal candlestick formation near its support zone. Moreover, closing above its short-term moving average should result in a bullish trend for the stock in the near term.

HCL TechnologiesBUY, CMP: Rs 1,094.3, TARGET: Rs 1,150, SL: Rs 1,070

The stock had been downtrend after hitting the double top formation and thereafter it entered into an accumulation phase near its important support area. Finally, a strong base is formed which indicates resumption of a bullish uptrend in the coming horizon.

L&T (Larsen & Toubro)BUY, CMP: Rs 1,699.95, TARGET: Rs 1,790, SL: Rs 1,660

On a broader time frame, the stock had been in a strong uptrend move however the recent price correction from its supply zone has plunged the counter to its important retracement support area. As a result, the pullback rally is very likely for further up move in the coming sessions.

Canara BankBUY, CMP: Rs 235.55, TARGET: Rs 250, SL: Rs 228

After a strong upward movement, the counter witnessed some profit booking. There is a momentary pause in the uptrend. However, it seems that a strong reversal is very likely from the double bottom support zone on the daily chart for further upward momentum.

(Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities. Views expressed are the author’s own.)

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Jul 17, 2023
Bhilwara Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Bhilwara RJ Assembly Election 2023 Details: Bhilwara constituency is a state Assembly/Vidhan Sabha constituency in Rajasthan. Vitthal Shankar Awasthi of the Bharatiya Janata Party is currently representing the constituency. Here are all the details you need to know about the Bhilwara constituency in Rajasthan

Bhilwara Constituency Rajasthan Assembly Election 2023: Voting Date

The Bhilwara Assembly constituency will go to polls on November 25 this year. The election schedule was announced by the Election Commission of India on October 9.

Bhilwara Rajasthan Election 2023: Candidates contesting

The Bhilwara Assembly constituency will see a tight contest between the ruling Bharatiya Janata Party (BJP), Independent (IND), and Indian National Congress(INC). All the final candidates will be known after the ECI makes the announcement.

Why Bhilwara Constituency Assembly Election 2023 Important

The Bhilwara is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan.

Bhilwara Constituency RJ Election Result: What happened in 2018

Vitthal Shankar Awasthi from Bhilwara of Rajasthan, won the seat with 93198 votes. He defeated Independent’ Om Prakash Naraniwal who had polled 43620 votes. The winning margin was 49578 votes.

2018 Bhilwara Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesVitthal Shankar AwasthiBharatiya Janata Party93198

Candidate List Party Name Votes Gained (Vote %) Vitthal Shankar Awasthi Bharatiya Janata Party 93198 (53.23%) Om Prakash Naraniwal Independent 43620 (24.91%) Anil Dangi Indian National Congress 18941 (10.82%) Abdul Salam Ansari Social Democratic Party Of India 8468 (4.84%) Jaspal Singh Bhati Independent 3762 (2.15%) Sunil Agiwal Aam Aadmi Party 1388 (0.79%) None Of The Above None Of The Above 1198 (0.68%) Sangram Singh Anchlia Independent 714 (0.41%) Pawan Kumar Sharma Independent 607 (0.35%) Chitranjan Pandey Independent 564 (0.32%) Shankar Lal Sen Bahujan Samaj Party 529 (0.3%) Sushil Kumar Nuwal Independent 488 (0.28%) Gopal Lal Teli Independent 439 (0.25%) Manju Masihi 422 (0.24%) Ashish Joshi Shiv Sena 228 (0.13%) Kishan Lal Vyas Independent 207 (0.12%) Irfan Shaikh Lok Jan Shakti Party 154 (0.09%) Manish Kumar Naya Bharat Party 152 (0.09%)

Bhilwara Constituency RJ Election Result: What happened in 2013

In the Rajasthan Assembly election of 2013, Vitthal Shankar Avasthi won from the Bhilwara seat garnering 91582 votes and defeated Indian National Congress candidate Rampal Soni who bagged 45466 votes. The candidate who came third was None Of The Above’ None Of The Above.

Vitthal Shankar Avasthi got 91582 votes while Rampal Soni got 45466 votes.

2013 Bhilwara Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesVitthal Shankar AvasthiBharatiya Janata Party91582

Candidate List Party Name Votes Gained (Vote %) Vitthal Shankar Avasthi Bharatiya Janata Party 91582 (64.76%) Rampal Soni Indian National Congress 45466 (32.15%) None Of The Above None Of The Above 1897 (1.34%) Sukhmal Choudhary Independent 790 (0.56%) Banshi Lal Bharatiya Yuva Shakti 589 (0.42%) Ram Niwas Jagetiya Jago Party 399 (0.28%) Naveen Joshi Independent 311 (0.22%) Moinudeein Bisayati Indian Union Muslim League 192 (0.14%) Shiv Prasad Sharma National People’s Party 184 (0.13%)

Bhilwara Constituency RJ Election Result: What happened in 2008

Vitthal Shankar Avasthi of the BJP was the winning candidate from the Bhilwara constituency in the RJ Assembly elections 2008, securing 59490 votes while 42213 votes were polled in favour of Om Prakash Naraniwal of the INC. The margin of victory was 17277 votes.

2008 Bhilwara Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesVitthal Shankar AvasthiBJP59490

Candidate List Party Name Votes Gained (Vote %) Vitthal Shankar Avasthi BJP 59490 (55.04%) Om Prakash Naraniwal INC 42213 (39.06%) Mahaveer Prasad Sharma BSP 1055 (0.98%) Sukhmal Choudhary IND 884 (0.82%) Dr Shail Agarwal IND 830 (0.77%) Vishvabandhu Singh Rathore LJP 677 (0.63%) Shyam Banwadi NCP 676 (0.63%) Dr Sunil Kumar Goyal IND 461 (0.43%) Dr Rameshwar Mundra IND 406 (0.38%) Aslam IND 251 (0.23%) Shantiswaroop IND 191 (0.18%) Narayani IND 182 (0.17%) Gopal Kumar Suwalka SHS 165 (0.15%) Krishan Gopal BJSH 163 (0.15%) Dr Mahaveer Prasad Agarwal(dr M P ) IND 136 (0.13%) Narendra Kumar ABHM 122 (0.11%) Sitaram IJP 112 (0.1%) Sardar Mohammad BHBP 70 (0.06%)

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