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Manufacturing PMI falls to 7-month low in March as Covid cases rise
By Administrator_ India Capital Sands Growth in manufacturing slowed to the lowest rate in seven months, as increasing Covid-19 cases hit demand, said IHS Markit’s purchasing managers’ index (PMI) on Monday. PMI fell from 57.5 in February to a seven-month low of 55.4 in March. In the PMI lexicon, a reading above 50 means growth, […]
Gold steady as inflation bets counter firm US dollar, yields
By Administrator_India Capital Sands Gold prices held steady on Monday, buoyed by concerns over inflation after U.S. President Joe Biden announced a $2 trillion-plus jobs plan last week, while a stronger dollar and elevated U.S. Treasury yields limited bullion’s upside. Spot gold was flat at $1,728.60 per ounce, as of 0146 GMT. Gold futures edged […]
Sensex drops 627 points, Nifty ends at 14,691; Banks, RIL drag market
By Administrator_India Capital Sands The Indian indices wavered on Wednesday as the US bond yields advanced and the dollar extended gains, triggering a flight to safety by global investors. The Sensex fell 627 points, or 1.25 percent, to end at 49,509, while the Nifty fell 154 points, or 1.04 percent, to close at 14,691. A […]
After Visa, PayPal Holdings launches cryptocurrency checkout service
By Administrator_India Capital Sands PayPal Holdings will announce later on Tuesday that it has started allowing US consumers to use their cryptocurrency holdings to pay at millions of its online merchants globally, a move that could significantly boost the use of digital assets in everyday commerce. Customers who hold bitcoin, ether, bitcoin cash, and litecoin in PayPal digital wallets will […]
Dow Bags Record Close as Boeing Flies in Gains on New Orders
By Administrator_ India Capital Sands The Dow closed at a record high Monday, shrugging off weakness in energy stocks and bank stocks as Boeing racked up gains following new orders for its much-maligned 737 Max jets. The Dow Jones Industrial Average rose 0.30%, or 98 points to close a record $33,171.77, the S&P 500 was 0.1% lower, and the Nasdaq […]
Markets extend selloff as Covid-19 surges; investors flee risky assets
By Administrator_India Capital Sands The benchmark indices fell sharply for a second session as the alarming rise in Covid cases hit investor sentiment and raised doubts over the pace of economic recovery. The Sensex ended at 48,440, with a decline of 740 points or 1.5 percent, while the Nifty closed at 14,325, a fall of […]
Gold Up, Boosted by Strong Dollar and Fed Assurances on Inflation
By Administrator_ India Capital Sands Gold was up on Wednesday morning in Asia, with investors and Congress reassured by U.S. Federal Reserve Chair Jerome Powell that inflation will remain under control. Gold futures were up 0.34% at $1,730.90 by 11:48 PM ET. The dollar, which normally moves inversely to gold, inched up to a more […]
Turkish Lira sinks after Tayyip Erdogan fires central bank chief
By Administrator_ India Capital Sands Turkey’s lira briefly fell 15 percent to near its all-time low on Monday after President Tayyip Erdogan’s shock weekend ousting of a hawkish central bank governor sparked fears of a reversal of recent rate hikes. The news is set to further rock the economy of 82 million people and could have a […]