Weekly Market Review 30-07-2023

Hyderabad (NVS): With the fierce ongoing war between Russia and Ukraine, the geo-political situation remained dangerous. At home, the flood flury in most of the country not only inundated a vast land area, but also took a heavy toll of life and property.

New York gold closed at US $ 1,959.40 (per Ounce) while silver closed at $ 24.31 (per Ounce). Platinum and Palladium closed at $ 935 (per Ounce) and $ 1,220 (per Ounce) respectively.

Other economic parameters remained moderate. Brent closed at US $ 84.99 (per barrel) while Crude MCX oil was quoted at Rs.6,587 (per barrel). While Gold MCX stood at Rs.59,370 (per 10 gms), MCX Silver closed at Rs.74,043 (per kg), Copper MCX closed at Rs.738.50 (per kg). Sensex and Nifty 50 closed at 66,160.20 and 19,646.05 points. Leading foreign currencies’ exchange rates were, US $: Rs.82.26, British Pound: Rs.105.67, Euro: Rs.90.79, Singapore $: Rs.61.81, Swiss Franc: Rs.94.53, Australian $: Rs.54.69, Saudi Riyal: Rs.21.93, New Zealand Dollar: Rs.50.70, Kuwaiti Dinar: Rs.269.20, Omani Rial: Rs.214.76, UAE Dirham: Rs.22.40, Japanese Yen: Rs.0.58, and Hong Kong Dollar: Rs.10.55.

In local markets, standard gold (24 carats) appreciated by Rs.220 and closed at Rs.60,380 (per 10 gms). Ornamental gold too, followed the suit and was quoted in the range of Rs.55,250 – 55,350 on the closing day. Silver (0.999) depreciated by Rs500 and closed at Rs. 80,000 (per kg).

COMMODITIES

Rythu Bazars and the various commodity markets located in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir Alam Mandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar recorded moderate trading.

During the week, common pulses such as tuar dal, masoor dal, moong dal and urad dal and commodities like chillies and garlic remained unchanged at their respective last week’s closing levels, while staple food-grains and common edible oils recorded a marginal increase.

Common vegetables such as cabbage, cauliflower, ribbed guard, snake guard, lady fingers, cucumber, potatoes, onions, tomatoes and French beans along with other leafy vegetables declined further marginally, thanks to the week long spell of rain.

The NECC wholesale egg-price in Hyderabad declined by Rs.5 and closed at Rs.420 (per 100). The highest price of Rs.516 was recorded at Kolkata while Barwala recorded the lowest of Rs.360.