01/05/26, The Indian rupee breached 95 again on Thursday, hitting a record intraday low of 95.33 amid a sharp surge in crude oil prices. However, it recovered due to the intervention from the Reserve Bank of India (RBI) through its dollar sales.

 Rupee closed at a fresh low of 94.92, down 7 paise from the previous close.

The currency faced intensified pressure this week from rising oil prices. During the week, the rupee declined 0.7%. The rupee fell 5.6% so far in 2026.

Oil prices surged as much as 7% to $126 per barrel intraday as US-Iran peace talks stalled, before recovering below $120 afterward.

The currency has fully surrendered all gains from the RBI's measures. The rupee breached 95 for the first time in late March but reversed to 92.58 level after the RBI imposed forex curbs.

Reflexive Trade

"…what we are witnessing is a textbook reflexive trade – rising oil prices triggering foreign institutional investors (FIIs) outflows and the outflows are compounding the dollar demand from oil importers, with the combination overwhelming whatever defence the RBI is putting up," said Anindya Banerjee, head of commodity and currency research, Kotak Securities.

He added that while the RBI is intervening and will continue to intervene, the central bank’s strategy here is volatility management, not level defence.

Road to 97

Currency traders said persistent foreign outflows also keep pushing the rupee lower. FPIs sold equities worth $ 20.2 billion so far in 2026 and this pressure will continue as long as the Strait of Hormuz remains blocked. Federal Reserve's hawkish tilt also added to the pressure on Thursday, dealers said.

"Both the current and capital accounts are in deficit, resulting in a significant combined shortfall. This leaves India’s balance of payments (BOP) in a severely negative position, with no room for rupee appreciation," said Madhavankutty G, chief economist, Canara Bank.

"The next important level we are watching is 96, and a sustained break above 96 opens the path to 97 – a level we see as achievable if Brent breaches $125 and the Hormuz situation deteriorates further," Banerjee added.

Report by FinancialExpress

01/05/26, Post Bullion Market

 Gold rate today shows a small dip across key cities in the Karnataka state, giving buyers some relief during the busy wedding season. On 30 April 2026, retail prices for standard gold varieties ease by Rs.10 per 10 grams in both Bengaluru an Mangalore, compared with levels seen on 29 April 2026.

The modest correction comes after weeks of high prices that worried many families planning weddings and festivals. For several households, gold is not just jewellery but a safety net during financial stress. Even a tiny fall in rates today brings comfort, especially for middle-class buyers and many women planning fresh purchases.

Gold Rate Today and City-Wise Price Trends

In Bengaluru, 24-carat gold is now priced at Rs.1,50,430 per 10 grams, down from Rs.1,50,440 a day earlier. The trend is mirrored across other categories as well. The widely preferred 22-carat gold now stands at Rs.1,37,890 per 10 grams, while 18-carat gold has slipped slightly to Rs.1,12,820. Each category reflects a uniform Rs.10 decline.

Gold Rate Today, Silver Price and Key Market Data

The latest gold rate today sits alongside steady silver prices in local bullion markets. Silver is currently quoted at Rs.2,65,000 per kilogram. Small intraday movements are considered normal for silver as well as gold. Traders note that, despite these minor shifts, the broader range for both metals now remains largely stable.

Here is a quick view of the gold rate today and silver price in tabular form for reference.

Metal / Purity	Quantity	Price on 29 April 2026	Price on 30 April 2026	Change
Gold 24 carat	10 grams	Rs.1,50,440	Rs.1,50,430	- Rs.10
Gold 22 carat	10 grams	Rs.1,37,900	Rs.1,37,890	- Rs.10
Gold 18 carat	10 grams	Rs.1,12,830	Rs.1,12,820	- Rs.10
Silver	1 kilogram	Rs.2,65,000	Rs.2,65,000	No change

IBJA Gold Rates Today

The 999 purity gold stood at Rs 14,797 per 1 gram, while the 995 purity gold price is at Rs 14,738 per 1 gram. Also, the 916 purity gold price stood at Rs 13,554 per 1 gram. Additionally, the 750 purity and 585 purity gold prices are at Rs 11,098 and Rs 8,656 in 1 gram respectively.

Gold Rate Today, Global cues and Wedding demand

Analysts link the gold rate today to overseas cues, including changes in the dollar value and shifting investor interest. When global funds move from bullion to other asset classes, local markets feel the impact. Such factors, along with currency movements, lead to frequent but limited swings in Indian retail prices.

At the same time, domestic demand stays strong because the wedding season is underway across India. Demand from these cultural occasions supports sales, even when prices are high, and makes any small dip very welcome for households.

Gold RateToday, Shopping Patterns and Local markets

In Karnataka, gold buying is closely tied to every major family function, from engagements to housewarmings. The gold rate today may be down by only Rs.10, yet the absence of a fresh rise itself is viewed as positive. Stable prices tempt many buyers who had delayed purchases over the past few weeks.

Jewellery stores in areas such as Chickpet, Dickenson Road, and Jayanagar in Bengaluru are expected to see heavier footfall. Market watchers say buyers might crowd showrooms through the day, checking the gold rate today, comparing designs and bargaining on making charges before finalising any large transaction.

Gold Rate Today, Buying Advice and Cost factors

Experts suggest that buyers who are already planning purchases can consider locking in the gold rate today, either through direct buying or advance booking. Many advise shoppers to pay close attention to making charges, since these can vary from shop to shop. Selecting a trusted jeweller and negotiating overall costs can help manage final outgo.

For Indian families that treat gold as emotional security and financial backup, the slight fall in the gold rate today offers some breathing space. With wedding events and Akshaya Tritiya driving demand, markets in Bangalore and Mangaluru are likely to stay busy, while buyers balance cultural needs with careful attention to price and charges.

Report by Madhuri Adnal of Oneindia

01/05/26, Gold and Silver Prices Today

April 30: Gold and silver prices started the day at higher values which continued to rise on domestic and international markets after reaching recent price lows.

The current silver price on the MCX and physical markets stands between ₹2,34,500 and ₹2,40,900 per kilogram.

The United States government is considering military action against Middle Eastern countries which resulted in increased global uncertainty.

This situation caused investors to sell off their investments and purchase precious metals which led to a typical market behavior pattern that results in safe asset purchasing.

Gold and Silver Prices Today, April 30

The latest market data shows that 24-karat gold prices hover between ₹1,49,000 and ₹1,50,100 for 10 grams while 22-karat gold costs between ₹1,36,000 and ₹1,37,500 for 10 grams throughout major urban areas.

The Multi Commodity Exchange MCX shows gold futures performance which displays strength as they trade near ₹1,50,000 for 10 grams. This development shows that domestic market participants continue to support bullish trends in the market.

Latest Silver Prices in India

The retail market shows strong investor demand and rising industrial interest in the metal because some areas have reached prices of ₹2.35 lakh per kg.

Global Gold and Silver Prices

Internationally, bullion prices have also moved upward in response to geopolitical tensions and currency fluctuations.

• Spot Gold: $4,550 to $4,630 per ounce.
• US Gold Futures: $4,642 per ounce.
• Spot Silver: $72 to $73.6 per ounce.

The market shows a strong recovery since recent lows because gold prices increased nearly 2% while silver prices rose almost 3% in international markets.

Market Trend

Bullion markets show persistent price changes despite the strong price increase. The market experienced price shifts during the day, while some retail areas showed small decreases that were followed by recovery. The analysts predict that short-term market behavior will depend on geopolitical events combined with crude oil price changes and interest rate indications.

Report by News,  Source: Dailyhunt 

01/05/26, PostMarket REPORT

- Stock and forex markets will remain closed today, Friday, 1st May 26, for Maharashtra Day -

Benchmark stock indices Sensex and Nifty closed nearly 1 per cent lower on Thursday as crude oil prices, weak global trends and foreign fund outflows weighed on investor sentiment.

The 30-share BSE Sensex tumbled 582.86 points or 0.75 per cent to settle at 76,913.50. During the day, it plunged 1,237.5 points, or 1.59 per cent, to 76,258.86, but recovered some of the losses in the second half of the session.

The 50-share NSE Nifty dived 180.10 points or 0.74 per cent to end at 23,997.55.

Among the 30-Sensex firms, Eternal, Hindustan Unilever, Tata Steel, Larsen & Toubro, UltraTech Cement and Mahindra & Mahindra were the major laggards.

Sun Pharma, Infosys, Bajaj Finance and Adani Ports were among the gainers.

Brent crude, the global oil benchmark, traded 1.52 per cent lower at USD 116.2 per barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,468.42 crore on Wednesday, according to exchange data.

"Indian markets closed a volatile session with a clear shift in intra-day sentiment, where early panic selling was gradually absorbed, leading to a disciplined recovery from the lows. The Nifty-50 opened with a sharp gap down near the crucial 24,000 support, reflecting weak global cues and a risk-off undertone.

"Escalating geopolitical tensions in West Asia and Brent crude surging above USD 120 triggered concerns around inflation, currency stability, and margin pressures. This was further aggravated by the rupee hitting record lows, accelerating FII outflows and weakening overall sentiment," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

However, the second half marked a notable turnaround, he said. In broader markets, the BSE MidCap Select index dropped 0.84 per cent and the BSE SmallCap Select index declined 0.58 per cent. Among sectoral indices, metal tanked the most by 2.13 per cent, followed by PSU Bank (1.66 per cent), Realty (1.44 per cent), Commodities (1.36 per cent), FMCG (1.13 per cent), Financial Services (1.08 per cent) and Industrials (1.05 per cent).

"The decline was primarily driven by a sharp surge in crude oil prices, which spiked to multi-year highs amid escalating geopolitical tensions in the Middle East and concerns over supply disruptions through the Strait of Hormuz. "This raised fears of inflationary pressures and macroeconomic instability for oil-importing economies like India. Weak global cues, a sharp depreciation in the rupee to record low levels, and continued foreign institutional outflows further weighed on sentiment," Ajit Mishra - SVP, Research, Religare Broking Ltd, said. Information Technology, Telecommunication and Focused IT were the winners. "The rise in oil prices, along with persistent FII outflows and weak global cues, led to broad-based weakness across sectors. However, the market witnessed a partial recovery in the latter half, supported by value buying at lower levels and selective institutional participation," Gaurav Garg, Research Analyst at Lemonn Markets Desk, said. A total of 2,532 stocks declined, while 1,649 advanced and 156 remained unchanged on the BSE. In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index and Hong Kong's Hang Seng index ended over 1 per cent lower, while Shanghai's SSE Composite index settled marginally higher.

Markets in Europe were trading mixed. US markets ended mostly lower on Wednesday.

"Brent crude crossed the USD 120 per barrel mark for the first time in four years, intensifying inflation concerns and pressuring global risk assets. In India, rising oil prices weighed on the INR and revived worries about capital outflows and widening deficits, given the economy's heavy reliance on crude imports.

"The Fed kept rates unchanged but maintained a firm policy stance, supporting the dollar and tightening conditions for emerging markets. Domestically, autos, banks, metals, and real estate led the decline, while IT and pharma saw selective defensive buying," Vinod Nair, Head of Research, Geojit Investments Limited, said. 

Report by Daily Excelsior with PTI inputs 

30/04/26, Bajaj Finance Gold Loan, EconomicTimes REPORT

Bajaj Finance's Q4FY26 performance has brought an unexpected standout into focus, its gold loan business. While the company reported a steady 22 per cent year-on-year rise in net profit to Rs 5,553 crore, it was the sharp acceleration in gold-backed lending that came into spotlight as the segment recorded a 115 per cent jump in assets under management (AUM) to Rs 17,831 crore, with its contribution to the overall loan book rose meaningfully from 2 per cent a year ago to 3.5 per cent at the end of March 2026. The company has been aggressively expanding its physical footprint to tap into the growing demand for gold loans.

During the quarter alone, Bajaj Finance added 138 new gold loan branches, taking the total count to 1,507 branches, a sharp rise from just over 900 a few quarters ago. This rapid scale-up reflects a conscious push to build a deeper presence in semi-urban and rural markets, where gold loans remain a preferred form of credit. At the same time, the microfinance network remained relatively stable, underlining where the company's immediate priorities lie.

What makes this expansion particularly timely is the broader backdrop of elevated gold prices. Even after some correction from recent peaks, gold continues to trade at historically high levels, keeping loan demand buoyant. Higher gold prices allow borrowers to unlock more value against the same collateral, while also reducing risk for lenders due to stronger recovery prospects.

According to Nirmal Bang, the segment has emerged as the "standout growth driver," with expectations that it could contribute around 5 per cent of total AUM by FY27, up from current levels.

For Bajaj Finance, this combination has translated into a surge in disbursements, with gold loan originations rising sharply to Rs 3,900 crore, highlighting strong traction across geographies.

However, this growth has come with a modest increase in operating costs. The company reported operating expenses at 33.8 per cent of net total income, slightly higher than the previous year. Management attributed this to the dual impact of regulatory changes under new labour codes and the rapid rollout of gold loan branches.

Gold Price

After a sharp, record-setting rally that pushed gold prices to around USD 5,595 per ounce in late January, the metal has since corrected by nearly 11 per cent, as geopolitical tensions, particularly the US and Israel's strikes on Iran, triggered a rush among investors to raise liquidity. Currently, gold is trading near USD 4,554.89 per ounce, indicating some cooling from peak levels but still holding relatively firm.

Despite the recent pullback, the broader outlook for gold remains strong. According to a Reuters poll, gold is expected to average around USD 4,916 per troy ounce in 2026, marking the highest annual forecast since the survey began in 2012. This projection is notably higher than the USD 4,746.50 estimate from three months ago, reflecting continued optimism around bullion amid global uncertainty and macroeconomic shifts.

30/04/26, DowJones weekly graph

Jerome Powell's last policy meeting as the chairman of the US Federal Reserve concluded on expected lines- the Federal Open Market Committee (FOMC) decided to keep benchmark interest rates unchanged at 3.5%-3.75% for the third consecutive policy given the persisting uncertainty due to the US-Iran conflict.

The FOMC voted 8-4 to hold the benchmark interest rate in a range steady and highlighted that inflation is elevated, reflecting the recent increase in global energy prices. Economic growth, however, remains in good shape, and the job market is stable.

Fed Chair Powell said it was his last meeting as the chairman, as his term expires on 15 May. He said he "will continue to serve as a governor for a period of time to be determined."

The April policy meeting concluded on predicted lines, without any economic projections. Fresh economic projections or dot plot are expected in the next policy meeting in June, which will take place, most likely, under the leadership of Kevin Warsh, who has been picked by the US President Donald Trump to lead the Federal Reserve after Powell's term ends.

US Fed policy: How can it impact the Indian stock market?

While the Fed Chair underscored that the US economy was in a solid state, he highlighted the increased inflationary risks due to higher energy prices.

There were no clear cues about the near-term trajectory of interest rates, as the FOCM will consider incoming data to adjust the monetary policy stance.

Experts believe the Fed's policy decision will not have any material impact on the Indian stock market.

"The Fed's decision is unlikely to influence the Indian market now. Indian economy and markets are holding reasonably well despite the energy crisis. However, if crude prices remain high for long, the downside risk to India's growth and upside risk to inflation will increase. The market has, so far, not discounted this," said VK Vijayakumar, chief investment strategist at Geojit Investments.

Debopam Chaudhuri, Chief Economist at Piramal Group, said that markets had already factored in a pause, so this decision is unlikely to have a big impact. Markets will continue to be driven mainly by geopolitical developments.

The S&P 500 and Nasdaq traded slightly lower, while the US dollar and the 10-year Treasury yields jumped over 1% to 4.42% after the Fed policy announcement. However, a surge in bond yields and the dollar appears to be more due to the oil price rise than the Fed's policy decision.

Brent Crude prices jumped 8% to trade near $120 per barrel due to the stalled talks between the US and Iran and the continued blockage of the Strait of Hormuz.

According to Ajitabh Bharti, Executive Director and Co-founder, CapitalXB, for Indian investors, the Fed's pause on interest rates is a double-edged sword.

"While it prevents a massive sell-off, the lack of a rate cut means foreign institutional investors (FPIs) might remain hesitant to move capital back into Indian equities until US yields soften," said Bharti.

Vinit Bolinjkar, Head of Research at Ventura, highlighted that recent FOMC communications have signalled that energy-driven inflation could remain persistently elevated. This reinforces a 'higher for longer' rate narrative, creating near-term headwinds for the Indian stock market.

Elevated US rates continue to divert global capital toward US assets, sustaining the exodus of FPIs from Indian equities, said Bolinjkar.

The widening interest rate differential driven by the RBI's cumulative 125 basis point cuts (bringing the repo rate to 5.25%), while the Fed remains on hold, has weighed heavily on the rupee. Coupled with high crude prices, this significantly expands India's import bill and current account pressures, Bolinjkar highlighted.

Bolinjkar added that a hawkish Fed essentially locks the RBI's hands and the central bank has limited room to pursue further domestic easing without risking additional currency volatility. This delays the much-anticipated relief for rate-sensitive sectors such as banking, real estate, and infrastructure, said Bolinjkar.

Experts say the Fed's April policy could be a non-event for the Indian stock market as the focus is on the higher energy prices and the ongoing Q4 earnings season.

Source: Mint

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not of us. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

30/04/26, Stocks to Watch Today, the Economic Times Report

 Indian stock markets will track stocks to watch today, April 30, as major Q4 FY26 earnings and corporate updates drive sentiment across banking, metals, auto, and infrastructure sectors.

Key focus will be on Vedanta, Bajaj Finance, Federal Bank, Tata Motors, Adani Green Energy, and others, after strong profit growth, mixed earnings, and major corporate actions, including demergers, acquisitions, and expansion plans, shaping near-term movement in NSE and BSE listed stocks.

Here's the list of stocks to watch in today's trading session:

Stocks to Watch Today

Q4 Update

Company Name	Why in Focus
Vedanta	Profit Surges on Strong Revenue Growth
Bajaj Finance	Steady Earnings and NII Expansion
Schaeffler India	Strong Growth in Profit and Revenue
Motilal Oswal Financial Services	Revenue Jumps but Losses Deepen
Force Motors	Profit Declines Despite Revenue Growth
Federal Bank	Strong Profit Growth Driven by Robust Core Income

Vedanta

Profit Surges on Strong Revenue Growth

Vedanta reported a sharp 89 per cent year-on-year jump in consolidated profit after tax, reaching Rs 9,352 crore for the March 2026 quarter. Revenue from operations also saw robust growth, rising 29 per cent to Rs 51,524 crore compared to Rs 39,789 crore in the same period last year.

Bajaj Finance

Steady Earnings and NII Expansion

Bajaj Finance posted a 22 per cent increase in profit, which stood at Rs 5,553 crore versus Rs 4,546 crore a year ago. Net interest income (NII) grew by 20 per cent to Rs 11,781 crore, reflecting continued strength in its lending operations.

Schaeffler India

Strong Growth in Profit and Revenue

Schaeffler India delivered solid performance with profit rising 25.6 per cent to Rs 316.1 crore. Revenue climbed 18.9 per cent to Rs 2,585.6 crore, indicating healthy demand across segments.

Motilal Oswal Financial Services

Revenue Jumps but Losses Deepen

Motilal Oswal Financial Services saw its loss widen significantly to Rs 219.11 crore, compared to a loss of Rs 63.19 crore last year. However, revenue more than doubled, surging 125 per cent to Rs 2,676.2 crore.

Force Motors

Profit Declines Despite Revenue Growth

Force Motors reported a 35.9 per cent drop in profit to Rs 278.5 crore. Despite this, revenue increased by 8.2 per cent to Rs 2,549.8 crore, showing moderate top-line growth amid profitability pressure.

Federal Bank

Strong Profit Growth Driven by Robust Core Income

Federal Bank reported a 22 per cent year-on-year rise in consolidated net profit at Rs 1,341 crore for the March quarter of FY26, compared to Rs 1,091 crore in the same period last year. Its core net interest income also surged to Rs 3,173 crore from Rs 2,337 crore a year ago. Adjusting for an income tax refund, interest income would have stood at Rs 2,717 crore.

Corporate Development

Company Name	Why in Focus
Larsen & Toubro	Hyderabad Metro Stake Deal Signed
Vedanta Ltd	Demerger Listing Filing Planned
Adani Green Energy Ltd	Massive Battery Storage Expansion
Brigade Enterprises	Bengaluru Mixed-Use Project Partnership
City Union Bank	New MD, CEO Appointment
Tata Motors	Record Patent Filings
Emcure Pharmaceuticals	Stake Bought by Norges Bank

Larsen & Toubro

Telangana Govt Signs Deal for Hyderabad Metro Stake Acquisition

The Telangana government, after deciding to take over Hyderabad Metro Rail Phase I through HMRL, signed a Share Purchase Agreement with L&T for acquiring 100 per cent equity shares of LTMRHL at an equity value of Rs 1,461.47 crore.

Vedanta

Demerger Listing Process to Move Ahead

Vedanta will file with stock exchanges next week seeking approval for listing its demerged entities, with shares expected to be listed and commence trading by mid-June.

Adani Green Energy

Large-Scale Battery Storage Expansion Plan

Adani Green Energy plans to add up to 15,000 GWh of battery energy storage capacity annually, requiring investments worth thousands of crores.

Brigade Enterprises

Strategic Partnership for Bengaluru Mixed-Use Project

Brigade Group has entered into a strategic partnership with Bain Capital to develop a 2 million sq ft premium mixed-use project in Whitefield, Bengaluru.

City Union Bank

New MD & CEO Appointment

City Union Bank announced that Vijay Anandh will take over as Managing Director and CEO from May 1.

Tata Motors

Record Patent Filings in FY26

Tata Motors reported filing 144 patent applications in FY26, marking its highest number of filings in a single year.

Emcure Pharmaceuticals

Stake Purchase by Norges Bank

Norges Bank, on behalf of the Government Pension Fund Global, acquired 18 lakh shares (0.9 per cent stake) in Emcure Pharmaceuticals for Rs 289.47 crore from BC Investments IV, an affiliate of Bain Capital.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. We suggest  readers and investors to consult their financial advisors before making any money-related decisions.)

29/04/26, MTAR TECHNOLOGIES

Shares of MTAR technologies rose on Wednesday, with the defence stock continuing its sharp rally in 2026.

The stock settled at Rs 5,695 per share on the NSE, up 7.61 percent, after hitting a fresh 52-week high of Rs 5,749 during the session, a gain of 8.63 percent.

So far this year, the stock has surged over 130 percent. It has climbed 284.42 percent in the past one year, according to BSE data.

The surge comes as investors see the company increasingly part of the artificial intelligence infrastructure supply chain, supporting prospects of better valuations and order inflows.

Balaji Rao Mudili, Research Analyst at Bonanza, said the uptrend is supported by strong earnings growth and a sharp rise in the order book. He added that MTAR's linkage to Bloom Energy, which supplies fuel cell solutions for AI data centres, has strengthened the company's positioning in the segment.

However, he noted that the stock is trading at elevated valuations, with the market factoring in strong execution across segments. Any delay in execution could lead to a correction, he added.

He also pointed to strong financial performance. The company reported its highest-ever quarterly revenue in Q3FY26, with revenue rising 59 percent year-on-year, while EBITDA grew 92 percent and profit after tax increased 117 percent.

Order inflows remained robust, with Rs 1,369 crore booked in the quarter, taking the total order book to Rs 2,395 crore as of December 2025.

Report by Mr Prasant Bist of Network18 

29/04/26, Gold Price

Gold prices have increased by more than $3,000 per ounce since the current bull market began in October 2022, when the price was $1,500. Today, gold is trading over $4,500, an absolute return of 200% during this period.

In a recent report from Deutsche Bank Research Institute, the authors argue that the gold price could rise to $8,000 over the next five years. That is a larger gain than in the preceding bull market. This suggests that gold prices can rise by another 77% from their current levels.

Central Banks Gold Buying

The role of central banks, particularly in emerging markets, is noteworthy. EM central banks have been actively buying gold and driving pressure on prices upward, and there is significant scope for EM to add to this. “If the world diversifies trade and security dependence away from the US, this would be consistent with less USD and more gold in reserves,” notes the study.

Behind the reasons for gold to keep shining, the report suggests that the share of US dollars in central bank reserves is once more in decline. The share of the USD in global central bank reserves has dropped sharply from around 60% at its peak to just 40%, while gold’s share in global central bank reserves has doubled in the past four years to nearly 30% today.

Even in an environment where EM FX reserves decline to USD5tn, gold prices could still rise to $8,000 over the next five years, if EM countries all target a 40% gold share, says the Deutsche Bank Research Institute report.

EM central banks had just 16% of total reserves in gold compared to 34% for DM central banks by the end of 2025. There thus remains a significant gap to close, if not ultimately exceed.

Taken together, Gold now accounts for 20% of foreign exchange reserve assets held by central banks — surpassing even the euro, which stands at 16%, after the US dollar, which retains 46%. In the case of the RBI, gold occupies 17.2% of India’s foreign exchange reserves.

Which Countries are Buying More Gold

According to the report, almost half of EM central bank holdings are accounted for by just China, Russia and India. But many middle powers like Turkiye, Kazakhstan, and Saudi Arabia are also significant holders.

Strikingly, in Eastern Europe, more than half of the gold holdings of Czechia and Poland have been acquired in the past four years alone, after Russia’s invasion of Ukraine. Many MENA states like Qatar, Egypt and the UAE have acquired between 25-50% of their total gold holdings in the last few years alone.

RBI’s Gold Holdings

The RBI’s total gold holdings hit a record of 880.3 tonnes at the end of 2025. But during the year, the RBI lowered its gold purchases to 4.02 tonnes, a dramatic decrease from 72.6 tonnes in 2024. Following a four-month break, in 2026, the RBI purchased 0.13 tons of gold in January but none in February.

Forces Behind the Move

The report suggests that gold’s share in central bank reserves is a function of three main drivers: the volume of gold held, the price of gold, and the stock of FX reserves. The first two forces are already underway. EM central banks have been actively buying gold and prices have been rising. The third force of active reduction in US holdings is yet to begin, but could be very significant.

All three drivers could be at play together, suggesting there is more to go in gold’s rise and the dollar’s decline as a share of global reserves.

Written by MrSunil Dhawan

Source: FinancialExpress

Disclaimer: This article draws on third-party research and is intended for general awareness and education only.  Not trade recommendation.

29/04/26, AfterNoon Market

 The bulls have come charging on the Dalal street today after a brief pause.Both the benchmark indices have seen sharp gains in intraday trade. At this hour, the Sensex surged 1,000 points to trade close to 78,000, gaining around 1.4%. 

At the same time, the Nifty climbed above 24,300 levels, up more than 300 points or about 1.2%.

The rally is not limited to frontline indices. In the broader markets, the small and midcap stocks are also seeing strong traction. 

Let’s take a look at the key reasons behind today’s rally –

Broad-based buying lifts the market mood

One of the biggest drivers of today’s rally is the broad-based participation seen across sectors. 

Almost all major sectors are trading in the green.

Auto, financial services, realty, and information technology stocks are leading the gains. Similarly, banking and private banking stocks are also adding further strength to the uptrend. 

Fast-moving consumer goods (FMCG) and oil and gas stocks are also contributing to the positive momentum.

Auto stocks take the lead

The auto sector is emerging as the top performer in today’s rally. The Nifty Auto index surged around 2% in the intraday trade today.

Key players like Maruti Suzuki India surged nearly 5% in the intraday trading session today. Other auto stocks, including Mahindra & Mahindra, Bharat Forge, TVS Motor, Hero MotoCorp, Exide Industries, and Eicher Motors, are also trading higher, many of them rising over 2%.

IT stocks add further momentum

The information technology (IT) sector is also playing a key role in pushing markets higher. In the intraday , trading session today, the Nifty IT index gained around 1.5%. 

In the information Technology sector, stocks such as Infosys, TCS, and Tech Mahindra are trading in positive territory. 

Cautious optimism amid global uncertainty

Despite the strong rally, global developments continue to remain a key concern  for markets. Investors are closely watching geopolitical tension and global economic signals, which could influence sentiment in the coming sessions.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments said, “Even though there are important developments happening in the Gulf region, there is no solution to the energy crisis caused by the closure of the Strait of Hormuz. UAE’s decision to quit OPEC might have a bearing on crude prices in the medium term but it is unlikely to ease crude prices in the near-term. There are indications that the US-Iran stand off may continue much longer. Brent crude at $110 is negative for India. As long as crude price remains elevated, the downside risk to India’s growth and the upside risk to inflation will remain high.”

He further added, ‘The market will also be closely watching the political developments after the state elections end today. The exit polls this evening might give indications of possible outcomes. The Fed decision today will be a pause in the light of the uncertainty surrounding the West Asia conflict and rising inflation. The message from the Fed chief will be more important.” 

Written by Olivia Kunjumon

Source: FinancialExpress

29/04/26, GRSE share price

 The share price of Garden Reach Shipbuilders & Engineers (GRSE) grabbed market attention today, April 29, after the company reported a strong set of quarterly numbers. 

In the trading session today, the share price of this defence public sector undertaking (PSU) rallied sharply, rising as much as 15%.

The stock opened higher at Rs 3,100 and quickly extended gains to hit an intraday high of Rs 3,339. 

The key reason behind today’s surge in the share price comes after the company announced its Q4FY26 results after market hours in the previous session.

Let’s take a look at the key reasons why the share price of this defence sector stock is rallying today –

Garden Reach Shipbuilders & Engineers rallies after Q4 earnings

The surge in GRSE shares was largely driven by better-than-expected financial performance in Q4FY26.

As per the regulatory filing by the company, the net profit, also known as profit after tax (PAT), rose 24% year-on-year to Rs 303.19 crore, compared to Rs 244.24 crore in the same period last year.

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Revenue growth also saw momentum. The company posted a 29% jump in revenue from core operations. This stood at Rs 2,119.21 crore for the quarter, up from Rs 1,642.03 crore a year ago.

Looking at the operating level, performance was firm. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose sharply, and margins improved to 16.8% from 13.4% in the same quarter last year. 

GRSE: Cost control adds to profitability

One of the key highlights in the results was a decline in input costs. The company’s expenses on inputs fell 22% year-on-year to Rs 811.50 crore. 

In addition to this, the earnings per share (EPS), increased to Rs 26.47 compared to Rs 21.32 a year ago.

GRSE Dividend announcement 

Alongside the headline numbers, this defence sector company also announced a final dividend for shareholders. 

The board recommended a dividend of Rs 6.70 per share for the financial year 2025-26. This is subject to approval at the upcoming annual general meeting (AGM), after which the payment will be made within 30 days.

This final payout comes in addition to two interim dividends already announced during the year – Rs 5.75 per share in November 2025 and Rs 7.15 per share in February 2026. 

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GRSE share price performance 

Breaking down the share performance of the company across different time frame, over the past month alone, the stock has delivered gains of more than 58%, while on a year-to-date basis, it is up 28%.

Looking at the longer term, the stock surged 22% in the last 6 months and 59% in past one-year. 

The current surge also puts the stock closer to its 52-week high of Rs 3,538.40, while remaining well above its 52-week low of Rs 1,622.

Source:FinancialExpress

29/04/26, The equity benchmark indices Sensex and Nifty rebounded on Wednesday, supported by buying in blue-chip stocks and firm cues from Asian markets. At around 11 am, the Sensex rose 953.59 points or 1.24 percent to 77,840.50, while the broader Nifty advanced to 24,284.80, up 289.10 points or 1.2 percent. Market breadth was positive as about 2155 shares advanced, 1229 shares declined and 174 shares remained unchanged.

 All 16 major sectoral indices traded in the green. The Nifty Smallcap 100 and Nifty Midcap 100 indices gained 0.96 percent and 0.76 percent, respectively.

Key factors behind market rise

1) Value buying: Value buying was seen in key sectors such as auto, realty, IT and FMCG following the previous session's decline. On Tuesday, the Sensex had dropped 416.72 points or 0.54 percent to settle at 76,886.91, while the Nifty fell 97 points or 0.4 percent to end at 23,995.70

2) Rise in crude prices: Brent crude, the global oil benchmark, traded 0.21 percent lower at USD 111 per barrel. Lower crude oil prices are generally positive for India because the country imports a large share of its oil needs. When prices fall, the import bill declines, which helps reduce the trade deficit and eases pressure on the rupee. It also lowers input costs for companies, especially in sectors like transport, aviation and manufacturing, supporting margins.

3) Firm cues in Asian markets: Asian markets lent support, with South Korea's Kospi, Shanghai's SSE Composite and Hong Kong's Hang Seng trading higher.

4) Strong Q4 earnings: Maruti Suzuki gained 4 percent, recovering from a 2.5 percent fall in the previous session, even as the company reported a decline in March quarter profit, as multiple brokerages ‌cited ⁠steady demand and volumes as positives. The auto index emerged as the top sectoral gainer, rising up to 2.5 percent. Shares of  Eternal rose 2 percent, while Star Health advanced 8.6 percent on the back of quarterly earnings.

Technical Outlook

Anand James, Chief Market Strategist at Geojit Investments, said the Nifty showed signs of recovery despite initial weakness. "Subsequent hourly candles indicate buying interest at lower levels, suggesting a possible move towards the 24,350–24,470 range. However, failure to hold above 24,050 may keep downside risks towards 23,500 intact," he said

Report prepared by Mr Paras Bist of Network18 

29/04/26, India-The Anti AI play?

The Indian markets have had a rough ride thus far in 2026. After initial bumps on account of tariffs and AI-led concerns, the markets now face a double whammy of elevated energy prices and capital outflow by foreign investors. Chairman of Rockefeller International, Founder & CIO of Breakout Capital and acclaimed author Ruchir Sharma says lack of AI infrastructure is one of the biggest reasons why foreign investors are indifferent towards India at the moment. 

Speaking to Anant Goenka, Executive Director, The Indian Express Group at the Express Adda, the celebrated market guru listed out the main catalysts for foreign investment not coming to India and how America is able to get away. He also highlighted the ideal asset allocation at the moment and looked into the crystal ball to forecast the future of IT companies in India. 

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#1 Why are FIIs indifferent to India

Foreign fund outflows have been one of the biggest concerns for our markets lately. Foreigners, in the last couple of years, have sold $50 billion in the stock market. Sharma believes that this is because “the entire world today has a mono-maniacal focus, which is AI. The focus is on the winners of AI and the losers of AI. Unfortunately for India, in contrast to what happened during the tech boom (1999-2000), most foreigners have taken the view that India is a loser in the AI context.”

He explained that the current focus is on AI infrastructure. “The picks and shovels, semiconductors, memory, and the compute. That’s the phase. It is a mad dash going on for that.  India, unfortunately, just does not have that, as per the sentiment among foreign investors.”

Given the outflows from the equity market, 0 net FDI, he believes one can’t argue with the data. But the question is, why are foreigners doing this? “The main reason foreign investment is not coming to India today is that their entire focus is on AI. That’s also something that’s helping America continue to get away. India, unfortunately, is not seen to have any AI plays at this stage. This can change. We can get to a different phase of adoption, where India can end up becoming a beneficiary of AI. But the current reality is this,” he explained.

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#2 R&D spend a game-changer

India is at a relatively early stage of AI adoption, and one reason for it, as per Ruchir Sharma, is the lack of adequate spending for research and development. 

According to him, “I have never seen such indifference towards India. This is because they are focused on one thing for now, which is AI. Whether you have it or not. Here, the structural weakness for India shows itself up. The amount of money spent on India for R&D as a share of GDP is 0.6%. Korea and Taiwan, which are among the biggest beneficiaries of the AI boom, spend about 4-5% of their GDP on R&D.” 

“You see a desperate run to win the AI arms race. The biggest beneficiaries are countries which have the infrastructure,” he added. 

#3 India – The ‘anti-AI’ play

He elaborated how among the financial crowd globally, “India is called the anti-AI play. At this point in time this is the reality. But I believe this too shall pass. You can’t have the entire global economy run on just one factor. But it is a reality for the moment.”

He believes that “consumption (theme) may eventually play out. If you are a true contrarian, this could be the time to play India. But that’s a view. The reality is what I am talking about now.”

#4 The future of Indian IT companies 

As a result of the AI-led disruption fears, the IT stocks have seen significant correction in 2026 so far. What’s the future of Indian companies? According to Ruchir Sharma, “They will be there. The big ones have an opportunity to reinvest themselves. But currently I have no money invested (in that space).”

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#5 India a difficult place to do business

Another reason why private capital investment is still not picking up in India is perhaps the onground difficulties while doing business in the country. Sharma highlighted how India is “still a very difficult place to do business on the ground. Whether it is the regulatory framework, investigative agencies, it is a difficult place. India consistently disappoints the optimist and the pessimist. In terms of valuation, India is still the third highest. China is still among the cheapest.” 

#6 The Energy crisis and the global lack of initiative

It has been exactly two months since this escalation has started, and in these two months long-term interest rates have gone up everywhere. Sharma explained that normally, during a crisis, interest rates tend to come down. 

However, that’s not the case this time despite some sense of crisis. “That is telling you something – that concerns are growing that you don’t have enough money and you will keep coming to the market more and more to borrow. The ability for us to withstand higher oil prices with the government giving handouts is limited,” he added.

He pointed out that “if crude prices remain elevated, even America will suffer, but Europe and Asia will suffer more.” I think this is where I feel there is a lack of responsibility, especially from Europe. Their argument is America created the problem. But it is impacting Europe. I wish these countries would take more initiative to put pressure on Iran/US to try and open that Strait. Because the fact of the matter is hurting them the most.”

According to him, “global powers, Europe, China they need to have a greater sense of urgency that we need to see the end of this rather than saying America created it and letting them sort it out. Every single day that this (US-Iran conflict) lasts, the biggest casualties are countries in Europe and Asia.” 

Ruchir Sharma’s asset allocation strategy 

When posed with the question about how he would invest $1 million dollar, Sharma outlined a strategy comprising investment in equities, commodities and bond. 

“You begin with America and figure out how much to invest in America and then the rest of the world. Basic asset allocation rule is – we typically put 60% in global equity, 20% in inflation hedges, and 20% in deflation hedges.”

According to him, “bonds, especially government bonds, are set to deliver the worst returns in the next few years, put the least to earn your interest. 60-40 was the normal equity-bonds investment. But now fixed income is unlikely to do well, inflation is going to pick up. So invest 20% in bond and 20% in inflation protected assets, gold, commodities and the like.”

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Commenting on the strategy for gold, he pointed out that he has “always liked gold, but the problem is it is everyone’s favourite at the moment. I am not very inclined to buy more at the moment. It should still be 4-5% of everyone’s portfolio. Won’t advise more than that for now.”

Conclusion

The conversation progressed and addressed a gamut of topics from politics to infrastructure development. Speaking on the Indian markets, Sharma expects reasonable returns from the market provided one is ready for “long periods of no action.” Given the pace of GDP and economic growth, he is hopeful that the markets are on track to deliver reasonable returns over 5-10 years

Source: Financial Express 

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