Silver prices surged by 11,500 to a fresh peak of 1,92,000 per kilogram in New Delhi, marking the steepest single-day rise in nearly two months. This surge was driven by robust domestic demand and global cues, with silver prices adding over 114% year-to-date.
The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the third time since September, bringing its key rate to about 3.6%, the lowest in nearly three years. Before September, it had gone nine months without a cut.
Kotak Securities is optimistic about the stock markets, setting a Nifty target of 29,120 by December 2026, driven by strong earnings growth expectations. The brokerage anticipates over 17% earnings growth for 2027, with improved macro conditions and policy decisions expected to fuel gains. They favor BFSI, technology, healthcare, and hospitality sectors, while also noting positive outlooks for gold and silver.
Adani Enterprises' 25,000 crore rights issue concluded with 108% subscription, attracting applications for 149.5 million shares. The issue, priced at 1,800 per share, saw public investors oversubscribe their portion by 30%. Funds raised will be used for debt reduction and capital expenditure.
