Financial fever is a new series, particularly curated for young and enthusiastic investors who are eager to learn. The series entails a detailed description of the top gainers and losers in the stock market indices i.e. NSE Nifty and BSE Sensex. We also provide insight on recent updates of the commodity market and forex.
WEEK 3: 14 Feb- 20 Feb
NIFTY- TOP GAINERS
NIFTY- TOP LOSERS
Gold price fell by Rs 730 to Rs 47,550 per 10 grams in the national capital on Friday. The reason for gold prices to slid at an eight month low in India is Finance Minister Nirmala Sitharaman’s move to cut the customs duty on the yellow metal to 7.5 per cent from 12 per cent. Also, investors opt for equities than other asset classes such as gold. In the previous trade, the yellow metal had closed at Rs 48,560 per 10 grams. In the international market, gold was trading lower at USD 1,774 per ounce.
Gold trading at a 7 month low, the reason can be found in the strengthening US dollar and investors preferring riskier investments.
Zinc at 4 month high, this is being owed to speculative investors cutting their bearish bets.