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Stock markets rebound over 1 pc on value buying after Budget day drubbing

Mumbai, Feb 2 (PTI) Stock markets rebounded on Monday with benchmark Sensex jumping by 943 points on value buying in blue-chip oil & gas, banking and auto shares after facing a massive drubbing on the Budget day. The 30-share BSE Sensex rallied 943.52 points or 1.17 per cent, to settle at 81,666.46. During the day, it surged 1,009.31 points or 1.25 per cent to a high of 81,732.25. The 50-share NSE Nifty climbed 262.95 points or 1.06 per cent to end at 25,088.40. During the day, it advanced 282.65 points or 1.13 per cent to 25,108.10. A sharp decline in

Gold futures rebound to Rs 1.48 lakh/10g after early slump; silver extends losses

New Delhi, Feb 2 (PTI) Gold prices recovered to Rs 1.48 lakh per 10 grams in futures trade on Monday after an early sharp fall that triggered the lower circuit level, while silver extended losses to witness heavy selling for the third consecutive day. On the Multi Commodity Exchange (MCX), gold futures for April delivery opened on a weak note and plunged Rs 10,688, or 7.2 per cent, to hit a low of Rs 1,37,065 per 10 grams during early trade. Later, the metal rebounded strongly, erasing all of its losses to trade higher by Rs 259, or 0.18 per

Row erupts in Lok Sabha as Rahul seeks to quote from ‘memoir’ of Gen Naravane

New Delhi, Feb 2 (PTI) A row erupted in the Lok Sabha on Monday after the Leader of the Opposition, Rahul Gandhi, sought to quote from what he said was the memoir of former Army chief M M Naravane, with Defence Minister Rajnath Singh and Home Minister Amit Shah objecting on the grounds that the book has not yet been published. As Gandhi rose to speak on the Motion of Thanks to the president’s address and began quoting from the book, Singh asked him to clarify whether the book had been published or not. The Congress leader insisted that the

Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons

Sydney, Feb 2 (The Conversation) After months of speculation, US President Donald Trump confirmed he will be nominating Kevin Warsh as the next chair of the US Federal Reserve. The appointment has been closely watched in the context of Trump’s ongoing conflict with the Fed and its current chairman Jerome Powell. The immediate reaction to the announcement was a significant crash in gold and silver markets. After months of record highs and stretched valuations, spot prices for gold and silver dropped 9% and 28% respectively after the announcement. The US stock market also fell, with major indexes all reporting modest

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