Business

Gold prices saw a fifth consecutive day of decline on Tuesday, despite rising retail rates in major Indian cities. Futures contracts on MCX and international markets fell due to geopolitical tensions in the Middle East. Investors are now keenly awaiting key US economic data for insights into the Federal Reserve’s interest rate decisions.

Prime Minister Narendra Modi assured India of sufficient crude oil storage and uninterrupted supply amidst the West Asia war’s global fuel crunch. He highlighted the nation’s strategic oil reserves and increased refining capacity, while emphasizing India’s commitment to peace through dialogue and diplomacy in the region.

India’s strategic oil reserves can cover approximately 9.5 days of supply during disruptions, with current reserves at two-thirds capacity. This announcement comes amid rising global crude oil prices due to the Middle East conflict. The nation, heavily reliant on imports, is diversifying its crude sourcing to mitigate supply risks.

​The manufacturing sector was hit the hardest, with its PMI dropping to a four-and-a-half-year low of 53.8 from 56.9. Heightened uncertainty and volatility linked to the Middle East conflict weighed on sentiment.

Hyderabad (Telangana) [India], October 22: As the Pro Kabaddi League Season 11 (PKL 11) is just about to begin, excitement is reaching its peak among fans and players. Building on its long-term partnership with the league as the Associate Sponsor in Season 11, Parimatch Sports, a leading sportswear brand inspired by top athletes, continues to