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Gold slumps Rs 1,000; silver plunges Rs 4,500 ahead of Fed policy decision

New Delhi, Dec 9 (PTI) Gold prices declined by Rs 1,000 to Rs 1,31,600 per 10 grams in the national capital on Tuesday, tracking a muted demand in the local markets, according to the All India Sarafa Association. Analysts said traders stayed cautious ahead of the US Federal Reserve’s policy meeting announcement also weighed on the sentiment. The precious metal of 99.9 per cent purity had finished at Rs 1,32,600 per 10 grams on Monday. “Gold traded lower on Tuesday but remained within a confined range as market participants remained cautious ahead of the highly anticipated FOMC policy decision,” Saumil

Rupee rises 17 paise to close at 89.88 (provisional) against US dollar

Mumbai, Dec 9 (PTI) The rupee pared its initial losses and settled for the day in the positive territory, up 17 paise at 89.88 (provisional) against the US dollar on Tuesday, as American currency and crude oil prices retreated from their elevated levels. Forex traders said the weakness of the US dollar in the overseas market, amid expectations of a US Fed rate cut in December, supported the rupee at lower levels. However, a negative trend in domestic equities and foreign fund outflows weighed on investor sentiment, limiting the local unit’s appreciation. Moreover, investors are in a wait-and-watch mode, and

Stock markets fall for 2nd day on profit booking in bank, oil shares; Sensex sheds 436 pts

Mumbai, Dec 9 (PTI) Stock markets closed lower for the second straight day on Tuesday, with benchmark BSE Sensex declining by 436 points as investors booked profit ahead of the US Federal Reserve’s policy decision. The 30-share BSE Sensex dropped 436.41 points, or 0.51 per cent, to close at a nearly two-week low of 84,666.28. During the day, the barometer plunged by 719.73 points, or 0.84 per cent, to hit an intraday low of 84,382.96 as blue-chip private banks, oil and IT shares retreated. The 50-share NSE Nifty dropped by 120.90 points, or 0.47 per cent, to settle at 25,839.65.

Stock markets tumble in early trade amid weak global cues, FII outflows

Mumbai, Dec 9 (PTI) Equity benchmark indices Sensex and Nifty fell sharply in early trade on Tuesday in line with weak global cues, continuous foreign fund outflows and selling pressure in IT stocks and Reliance Industries. Investor sentiment also turned cautious ahead of the US Federal Reserve’s policy meeting outcome, which is expected to provide cues on the interest rate trajectory. The 30-share BSE Sensex plunged by 636.22 points, or 0.75 per cent, to 84,466.47 in early trade. The 50-share NSE Nifty depreciated by 193.25 points, or 0.74 per cent, to 25,767.30. Among the Sensex firms, Asian Paints, Trent, Mahindra

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