Effective on firm dollar impact and growing equity markets, the gold traded in red in the morning trade on Monday, slipping its lowest level in more than two weeks. The more stringent monetary policy ahead of the US Federal Reserve meeting increased pressure on Gold. Market players expect the Gold to trade volatile on the back of growing geopolitical worries and the dollar movements. The price is further expected to decrease as a result of profit booking.
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Wheat prices rose by 0.73% to Rs 1,647/quintal in the futures market on Thursday following a pickup in demand at spot market. At the NCDX wheat for delivery for October gained Rs 12, or 0.73% to Rs 1647 per quintal with an open interest of 14,040 lots. Similarly, the wheat for delivery in Sept traded higher by Rs 10, or 0.62% to Rs 1,626 /quintal in 630 lots.
Stocks of Oil companies such as IOC, BPCL, and HCPL rallied up to 5% percent in morning trade, Thursday, after the govt ruled out its interference in daily revision in oil prices and cut in excise duty.
The share price of Thermax Ltd gained 3.55 intraday Thursday on the back of first EPC order in the GCC region.