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The Indian rupee depreciated by 31 paise to 92.32 against the US dollar on Thursday, driven by FII outflows, rising crude oil prices, and a stronger greenback amid ongoing West Asian conflict. Domestic equity markets also opened weak, further pressuring the local currency.
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Gold and silver prices moved down on Thursday as a firmer US dollar weighed on bullion demand. On the MCX, silver fell over Rs 2,000 per kg while gold declined marginally. Analysts expect continued volatility amid currency fluctuations, geopolitical tensions and crude oil price movements, advising investors to wait before initiating fresh positions.
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Elfin Agro India's shares are set for their BSE SME debut on March 12, with the grey market suggesting a listing near its Rs 47 issue price. The Rs 25 crore IPO, which saw modest subscription, aims to bolster working capital. The agro-processing firm, known for wheat products and mustard oil, operates across eight states and two union territories.
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In the NSE list of stocks with a market cap over Rs 1000 crore, 10 stocks' closing prices crossed below their 200 DMA (Daily Moving Averages) on March 11, according to stockedge.com's technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. Traders use the 200 DMA as a key indicator to determine the overall trend in a particular stock. Take a look:
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Brent crude oil prices have surged past $100 a barrel. This spike follows Iranian attacks on commercial shipping. Global financial markets are reacting to supply concerns. The International Energy Agency and the U.S. are releasing oil reserves. Inflation worries are increasing. This situation could lead to stagflation.
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