Weekly Market Review

Hyderabad (NVS): The week under review witnessed the mixed sentiment in the major global markets. While the military aggregation in the ongoing Russia -Ukrain war theatre continued at an accelerated pace, the G20 conclave hosted by Bharat brought the much desired smoothing relief all over the world. The unanimously adopted joint statement, called the Delhi Declaration is indeed, a step forward in the direction of peace and progress.

Consequently, New York gold closed at US $ 1,918.70 (per Ounce) while silver closed at $ 22.91 (per Ounce). Platinum and Palladium closed at $ 890 (per Ounce) and $ 1,172 (per Ounce) respectively.

Other economic parameters remained moderate. Brent closed at US $ 90.65 (per barrel) while Crude MCX oil was quoted at Rs.7,265 (per barrel). While Gold MCX stood at Rs.58,893 (per 10 gms), MCX Silver closed at Rs.71,536 (per kg), Copper MCX closed at Rs.720.85 (per kg). Sensex and Nifty 50 closed at 66,589.91 and 19,819.95 points. Leading foreign currencies’ exchange rates were, US $: Rs.83.12, British Pound: Rs.103.62, Euro: Rs.89.06, Singapore $: Rs.61.13, Swiss Franc: Rs.93.12, Australian $: Rs.53.07, Saudi Riyal: Rs.22.16, New Zealand Dollar: Rs.48.94, Kuwaiti Dinar: Rs.269.49, Omani Rial: Rs.216.14, UAE Dirham: Rs.22.61, Japanese Yen: Rs.0.56, and Hong Kong Dollar: Rs.10.60.

In local markets, standard gold (24 carats) declined by Rs.380 and closed at Rs.59,840 (per 10 gms). Ornamental gold too, followed the suit and was quoted in the range of Rs.54,750 – 54,850 on the closing day. Silver (0.999) declined by Rs.3,100 and closed at Rs.77,000 (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 oil remained steady.

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 marginally.

The NECC wholesale egg-price in Hyderabad further appreciated by Rs.30 and closed at Rs.460 (per 100). The highest price of Rs.570 was recorded at Kolkata while Namakkal recorded the lowest of Rs.435. EOM.