India’s foreign exchange reserves surged by $3.825 billion to $700.946 billion in the week ending April 10, following a significant increase in the prior week. This rise was primarily driven by an increase in foreign currency assets and gold reserves, contributing to the overall growth.
The Indian rupee surged to a one-week high Friday, boosted by Reserve Bank of India’s strategic moves to curb dollar demand from state-run oil refiners. By urging them to use a special credit line, the central bank aims to stabilize the currency against global pressures.
Gold is experiencing a healthy consolidation after a retail-driven buying spree, particularly in India, China, and the US, according to Jefferies. While demand has cooled, evidenced by a sharp drop in Indian gold imports, the mining sector shows robust fundamentals. Companies are prioritizing shareholder returns over expansion, with strong cash flows expected, suggesting continued sector
The absence of new shipments could tighten domestic availability, given that India, the world’s second-largest consumer of gold and the largest buyer of silver, depends almost entirely on imports to meet demand, according to a Reuters report.
Wipro’s shares tumbled as profit dipped and the IT firm projected a subdued outlook, citing cautious client spending. Revenue growth in its core IT services remained sluggish, raising concerns about persistent challenges. Despite a share buyback, weak guidance and margin pressures overshadowed positive deal bookings, leading to a significant year-to-date stock decline.
Gold price prediction today: Gold prices are exhibiting weak signals on an intra-day basis, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities recommends a buy on dip strategy.
Asian markets saw a slight dip Friday after a strong rally, as investors braced for a crucial weekend potentially impacting the Middle East conflict. Despite ceasefire hopes and easing oil prices, caution persists. Wall Street’s record highs offered some support, while currency markets reflected reduced risk aversion, though the Strait of Hormuz closure remains a
Stock market today: Sensex and Nifty ended in green on Friday on positive global cues. While Nifty50 was above 24,350, BSE Sensex was up over 500 points.
Stock market recommendations: Reliance Industries, and Varun Beverages are the top stock recommendations by Bajaj Broking Research for April 17, 2026.
Oil prices dipped as hopes for a Middle East peace deal surged following a ceasefire and potential US-Iran talks. While a temporary agreement might be close, concerns over significant supply disruptions from the Strait of Hormuz closure persist. Experts anticipate continued price volatility until lasting peace and open trade routes are restored.
