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Gold jumps Rs 440; silver rallies Rs 1,050

Updated at : 2023-06-09 18:25:06

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Gold prices edged higher in the Asian trading hours on Friday, with spot gold prices in the Delhi markets trading at Rs 60,820/10 grams, up Rs 440 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.In the overseas markets, both gold and silver were trading higher at USD 1,964 per ounce and USD 24.35 per ounce, respectively

While the Sensex closed at 62,626, down by 223 points or 0.35%, the broader Nifty50 settled at 18,563, down by 71 points or 0.38%

Analysts are sceptical about the growth prospects of the insurance sector, despite lucrative valuations. The sector has underperformed the benchmark Nifty by 13% in the past 12 months, leading Macquarie to downgrade HDFC Life, ICICI Prudential Life and SBI Life to "Neutral" from "Outperform". The bank has also cut its FY25E value of new business estimates by 2-6% and target prices by 15-17%. Macquarie has forecast a lower value of new business CAGR at 9-15% for FY23-26E against 16-22% for FY22-25E.

Bharat Forge shares fall 0.24% as Nifty drops

Updated at : 2023-06-09 15:40:04

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The stock quoted a 52-week high price of Rs 919.5 and a 52-week low of Rs 615.0.

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Promoters held 0.0 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 7.01 per cent and 3.29 per cent, respectively.

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ETMarkets.com has shortlisted ten stocks from the BSE200 index that have demonstrated consistent share price growth over the past five trading sessions

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Since March 2023, Nifty has surged nearly 8% and is now hovering near its record high. No wonder about 70% of Nifty constituents are trading in the green in the current calendar year.

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​The rest of the sectors were pretty much stable. So that is how you saw about 20 bps decline, 70 bps drag from global commodities and 50 bps lift from financials and auto.

Nifty ended FY23 with 11% EPS growth on a high base of 34% growth in FY22. Shifting focus from the Nifty universe to the volatile Nifty Next50 pack, also called Junior Nifty, 15 stocks stole the limelight this season. These are some of the fastest-growing companies of the last financial year, with up to 108% profit growth.

Last 18 months, say from October 21 onwards till now, it has been one kind of a grind. We have seen the market consistently going nowhere. In fact, in between, in May 2022, we even saw 15,200 on the Nifty.

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