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US Company Apologises After Sending This One-Word Rejection Letter!

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US Company Apologises: In the email, the company declared, “We are very sorry this error occurred, as it does not represent who we are or how we treat people.”

Following a situation in which a job a candidate received what they described as the US Company Apologises “rudest rejection email” with the single word “Declined” as the response, an American senior living company has apologized.

The user posted a screenshot on Reddit

The job seeker posted a screenshot of the rejection email on Reddit and wrote, “In all my years, I’ve never seen a rejection letter so… I don’t even know what to call this. Uncourteous? Rude? Unprofessional??” The screenshot revealed that the email lacked any greetings or farewells. Moreover, it did not explain the rejection and simply stated: “Declined”.

Many individuals on the platform expressed sympathy towards the user and condemned the company for its poor communication abilities.

Also Read: Playground Season 3 Episode 23 Highlights With Rap King Ikka Singh!

UPDATE on: Rudest rejection email I’ve ever gotten
byu/EgoBang07 injobs

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Company Apology Statement

In its apology, the company expressed regret and stated, “We recently learned of a system malfunction with our online recruitment software where it automatically sent out replies to applicants for some openings with the single word ‘decline.’

They also included the following statement, “We are very sorry this error occurred, as it does not represent who we are or how we treat people. All applicants should be treated respectfully throughout the recruitment process, which includes receiving an appropriate, polite response with the outcome. We sincerely apologize for this mistake and believe we have found the source of the problem so this does not happen again.”

User’s Reply To The Apology

Following the company’s response, the user said, “Apparently my original post made so many waves that it reached the company, and I got sent this earlier today. Some of you sent me screenshots that you received the same email, and I know some of you reached out to the company itself to talk about it, so thank you all for that lol It’s good to know that it’s technical errr.”

Meet businessman set to launch mini ‘IPL’ in MP, belongs to the royal family, lives in Rs 4000 crore house, his father is…

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Meet a Businessman who is working out a career for himself and representing the spirit of innovation and advancement with his vision and drive.

The well-known politician Jyotiraditya Scindia’s son, Businessman Mahanaryaman Scindia, decided against following in his family’s footsteps and instead pursued his entrepreneurial career. His agricultural firm, MyMandi, is becoming well-known for its creative farming methods. Even with his inherited wealth and royal ancestry, Mahanaryaman is creating his legacy.

He told PTI, “We are going to make a league in Madhya Pradesh,” regarding the intentions to start the Madhya Pradesh Premier League in the upcoming two to three months. There are going to be five teams. Our goal is to link the public, business, and cricket. Our goal is for players to advance from the village to the national stage. Gamers are going to obtain jobs. They will receive payment for participating in games as well. It’s going to air on television.”

He told PTI, “Our PM and CM are going to open many institutions including upskilling centers in the area,” about his goals and objectives. Gross National Happiness is given precedence above Gross Domestic Product in Bhutan. Making time for your family and health is crucial. It is crucial.

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Who is Mahanaryaman Scindia?

Coming from the esteemed Scindia dynasty, Mahanaryaman carries a rich heritage. Unlike his father, who is a prominent figure in Indian politics, Mahanaryaman chose to pursue something else. Following his education at Doon School and GAIL University, he gained experience at the Boston Consulting Group before diving into entrepreneurship.

The Scindia dynasty has a long history, dating back to their rule over Gwalior State in central India. Despite their political prominence, Mahanaryaman’s focus lies in revolutionizing agriculture through MyMandi. Launched in 2022, the startup has already made waves, generating significant revenue and operating in multiple cities.

MyMandi’s business model revolves around bulk purchasing and distribution to push-cart vendors, aiming to modernize the agricultural sector. 

Mahanaryaman’s influence extends to sports as well, as he recently took on the role of Deputy Chairman of the Gwalior Division Cricket Association.

With his vision and determination, he is making a path in the startup world, showcasing the spirit of innovation and progress.

Also Read: Playground Season 3 Episode 23 Highlights With Rap King Ikka Singh!

‘We haven’t broken even yet’: Ather CEO wants India to keep the subsidy cheques coming

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Ather was one of the first to drive the pick-up in adoption with the launch of its 450 series of e-scooters in 2018, but has fallen behind larger rivals Ola Electric and TVS Motor, whose discounts have driven sales.

India will need to keep the subsidy cheques for electric scooters coming for a few more years, the CEO of e-scooter maker Ather Energy said on Saturday.

“We’ve been able to cut down a lot of subsidy reliance, but it’s also come at the cost of almost a year’s worth of lost growth,” Ather CEO and co-founder Tarun Mehta said at the launch of ‘Rizta’.

Mehta was referring to the government’s surprise decision in May to slash cash incentives for e-scooters to a maximum of 15% of the purchase price before tax from 40% previously. Industry experts believe subsidies such as cash incentives are crucial to India hitting its goal of electrifying 70% of its two-wheeler fleet by 2030, as the world’s third-largest importer of oil looks to reduce dependence on fossil fuels.

Also read | RBI updates its Financial Policy: real GDP growth is expected to reach 7% in FY25, while the policy repo rate remains at 6.5%!

India’s e-scooter market is small but growing, accounting for 5% of total two-wheeler sales in fiscal 2023-2024.

Ather was one of the first to drive the pick-up in adoption with the launch of its 450 series of e-scooters in 2018, but has fallen behind larger rivals Ola Electric and TVS Motor, whose discounts have driven sales.

Ather’s “Rizta”  is priced at Rs 109,999 ($1,321). The scooter has a larger seat and storage space compared with rivals. Mehta hopes it will attract a wider range of buyers in India’s populous north and west regions, helping boost sales.

Loss-making Ather is focusing on top-line growth, Mehta said, but added margins would improve if sales volumes were higher.

“We haven’t broken even yet, I think there’s still a journey, hopefully it’s not very long. Hopefully the Rizta plays a meaningful role because I am happy in how margins are shaping up at a unit level,” he told Reuters. 

With inputs from Reuters & Businesstoday!

RBI updates its Financial Policy: real GDP growth is expected to reach 7% in FY25, while the policy repo rate remains at 6.5%!

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For the seventh time in a row, the RBI has maintained the repo rate at 6.5%; 4.5% is predicted for CPI inflation in FY25.

On April 5, Governor Shaktikanta Das announced the decision of the Reserve Bank of India’s Monetary Policy Committee, stating that policy repo rates will remain at 6.5%.

Furthermore, the RBI maintained its forecast of 7% GDP growth for the fiscal year 2024–2025, with 6.9% and 7% growth anticipated in the quarters of June and September, respectively. Growth is expected to be at least 7% in the third and fourth quarters. This is less than the 7.6% growth that is anticipated for FY24.

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Read live updates here:

Highlights of RBI’s first bi-monthly policy statement for FY’25

  • The benchmark interest rate or repo rate kept unchanged at 6.5%
  • GDP growth for 2024-25 retained at 7%, lower than 7.6% last fiscal
  • Retail inflation to average 4.5% this fiscal, lower than 5.4% in FY25
  • Net inflows by foreign portfolio investors (FPI) stood at $41.6 billion during 2023-24, the second highest level of FPI inflow after 2014-15
  • Current Account Deficit in 2024-25 to remain at a level that is both viable and eminently manageable
  • The Indian rupee remained largely range-bound as compared to its emerging market peers as well as a few advanced economies during 2023-24. INR most stable among major currencies in FY24
  • The next monetary policy committee (MPC) meeting is scheduled for June 5 to 7, 2024.

A look at how India’s GDP growth rate has changed

RBI updates

A look at how the Forex reserves have changed over the last three years

RBI updates

Domestic economic activity remains resilient: RBI

The MPC observed that robust investment demand and positive corporate and consumer attitudes support the resilience of domestic economic activity. Although headline inflation has dropped from its peak in December, pressures from food prices have been disrupting the ongoing disinflation process, making it more difficult for inflation to eventually decline to the target level. The forecast is uncertain due to unpredictable supply-side shocks from unfavorable climate events and their effects on agricultural output, as well as geopolitical tensions and their effects on trade and commodities markets, according to Mr. Das.

On April 5, the Monetary Policy Committee (MPC) determined to maintain the policy repo rate at 6.50% under the liquidity adjustment facility (LAF). The rates have been put on hold for the seventh time.

The MPC also decided to keep its attention on removing accommodation to boost growth while ensuring that inflation gradually approaches the objective.

RBI updates

Food price uncertainties continue to weigh on inflation outlook: RBI

In the future, inflation the future would be affected by the uncertainty surrounding food prices. However, the RBI stated that a record amount of rabi wheat will be produced in 2023–2024, which will assist in controlling grain prices when it announced the Monetary Policy’s decision to keep the CPI inflation rate at its current level.

Positive early signs of a typical monsoon also portend positively for the kharif season. The growing frequency of climate shocks, however, continues to be a significant upward risk to food prices.

Concerns are also raised by low reservoir levels, particularly in the southern States, and the prediction of above-average temperatures in April and June. Close observation is required of the pricing of important vegetables and the tight supply and demand situations for some pulses.

With the recent decrease in LPG prices, fuel price deflation is probably going to get worse shortly. Firms are experiencing cost-push pressures that are biased upward after a period of consistent moderation. It is important to keep a careful eye on the current strengthening of crude oil prices internationally.

The forecast for inflation is further threatened by geopolitical unrest and financial market volatility, the RBI noted.

Headwinds from geopolitical tensions pose risk: RBI

In a press release announcing the Monetary Policy Committee’s decision, the RBI stated that the outlook for fixed investment is still positive due to signs of an upturn in the private capex cycle, solid government capital expenditure, healthy corporate and bank balance sheets, and business optimism.

However, risks to the projection include headwinds from increased Red Sea disruptions, volatility in global financial markets, geoeconomic fragmentation, geopolitical tensions, and extreme weather events.

Services activity likely to grow to above pre-pandemic trend: RBI

A typical southwest monsoon is predicted for the future, which should aid in agricultural production. The RBI stated that it will maintain the 7% GDP growth forecast for FY25 as part of its bi-monthly Monetary Policy decision, citing the industry’s predicted continuation of strong profitability.

It is expected that services activity will increase above the pre-pandemic trend. Growth in private consumption should accelerate as rural activity continues to improve and urban demand remains stable. The Reserve Bank said in a news statement that rising discretionary expenditure anticipated by urban households, as indicated by the consumer survey, and rising income levels bode well for the expansion of private consumption.

Domestic economic activity continues to expand at an accelerated pace: Das

India’s Forex reserves reach all-time high

As of March 29, 2024, India’s foreign exchange reserves were at an all-time high of $645.6 billion, according to Governor Das.

He referenced the most recent statistics on several external risk indicators, suggesting that India’s external economy has become more resilient.

He continued, “We are still confident that we will be able to easily meet our external financing requirements.”

Headline inflation has eased to 5.1% in Jan and Feb: Das

Growth has continued to sustain its momentum, surpassing all projections. Headline inflation has eased to 5.1% during both January and February, and this has come down to 5.1% in these two months from the earlier peak of 5.7% in December, the RBI Governor said. 

Looking ahead, robust growth prospects provide the policy space to remain focused on inflation and ensure its descent to the target of 4%, he adds.

CPI inflation for FY25 projected at 4.5%

In delivering the Monetary Policy decision, Governor Das stated that 4.5% CPI inflation is anticipated for FY25. The Committee has kept the February numbers the same.

In February, it was predicted that CPI inflation would be 5.4 percent in 2023–2024 and 5.0 percent in Q4 of that year.

Pressures on food prices increased in February, and the RBI Governor said the MPC is still on the lookout for inflation risks.

He went on to say that persistently high food prices could undermine the foundation of inflationary expectations.

The Standing Deposit Facility rate remains at 6.25%: Das

The Standing Deposit Facility rate remains at 6.25% and the Marginal Standing Facility rate and Bank Rate remain at 6.75%, RBI Governor Shaktikanta Das said on Monetary Policy decisions.

Real GDP growth for FY25 projected at 7%

The Monetary Policy Committee has projected the real GDP growth for FY25 at 7%.

This is also consistent with its announcement made previously in February. 

Monetary policy must remain actively disinflationary at this stage: Das

In his remarks announcing the Monetary Policy Committee’s decision, RBI Governor Shaktikanta Das stated that strong growth gives room for monetary policy to continue focusing on bringing inflation down to its 4% target.

According to Mr. Das, monetary policy must continue to be actively disinflationary at this point.

The Monetary Policy Committee decides to keep the policy rate unchanged at 6.5%

The Monetary Policy Committee has decided to keep the policy rate unchanged at 6.5%.

The central banking authority of India has kept the repo rate unchanged for the last six consecutive MPC meetings.

The decision was made with a majority of 5:1

For the sixth time in a row, the RBI maintains the repo rate at 6.5%.

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RBI MPC meeting: The RBI governor maintained the 6.5% repo rate during the first MPC statement for the Financial Year 2024–25 (FY25).

RBI MPC gathering: Following the two-day review meeting of the central bank’s Monetary Policy Committee (MPC), the rate-setting panel, Reserve Bank of India (RBI) governor Shaktikanta Das announced the MPC’s decision on interest rates. The meeting was held from April 3 to this day, April 5. For the eighth time in a row, the RBI governor maintained the repo rate at 6.5% in the first MPC announcement for Financial Year 2024–25 (FY25).

In its most recent review, which took place in February 2024, the RBI kept policy rates and stances unchanged. However, there was disagreement among the members, with one suggesting a 25 basis point rate drop.

Inputs from Hindustan times News!

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The net worth of Byju Raveendran has decreased to zero from 17,545 crore in 2023. What took place?

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The 2024 Index values Byju Raveendran at zero due to difficulties facing Byju, which formerly had a $22 billion peak valuation.

According to the most recent Forbes Billionaire Index, Byju Raveendran, the founder of the edtech company Byju, lost all of his wealth. Byju Raveendran was originally classified as having a net worth of ₹17,545 crore ($2.1 billion). However, due to obstacles, Byju’s valuation has dropped to zero in the 2024 Index.

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What Forbes said on Byju Raveendran?

Only four names from the previous year’s list were removed, according to Forbes. Among them was Byju Raveendran, a former Edtech star whose company Byju’s was hit by several crises and had BlackRock reduce its valuation to $1 billion, a small portion of its $22 billion high valuation in 2022.

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What do you need to know about Byju’s?

Founded in 2011, the company expanded rapidly to become the most valued startup in India. It was valued at $22 billion in 2022 when the learning app, which catered to students aspiring to MBAs, was released. However, the company’s losses have been increasing as a result of recent financial disclosures and disputes.

BlackRock, a significant investor, reduced Byju’s valuation to under $1 billion after the company’s long-delayed fiscal year-end figures for March 2022 revealed a net loss of over $1 billion.

This occurred after Prosus NV and Peak XV Partners, among other shareholders, voted last month to remove Byju Raveendran from his position as CEO of the company. As part of its continuous business restructuring initiatives, the corporation also began the process of terminating employees. According to reports, Byju carried out the latest layoffs mostly by phone, with email notices coming in second.

Currency markets are in a deep freeze. Rate cuts and Trump could thaw them!

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Currency markets are in a deep freeze investors and traders in London think that a very close US election and a globally major interest rate cut will get the global currency markets going again after a break of almost four years.

These past and present signs of projected volatility have gone down over the last few months. Volatility is the amount of price change over a certain time frame.

Speculators in foreign exchange can’t profit from the profitable divergent trends in regional bond rates because of the way the world’s largest central banks hold their money.

Deutsche Bank closely monitors the implied currency volatility indicator, which is nearing its lowest point in nearly two years and is not far from pre-pandemic levels.

“The music has not been playing in FX thus far this year,” said Andreas Koenig, director of global FX at the largest asset manager in Europe, Amundi. “U.S. (bond market) rates go up and down, but the others all follow, and therefore we have no change in differentials.”

“Simon cuts first, and to what extent…””Thereafter, the U.S. elections will be the major macro events, the FX events,” predicts Koenig.

A slow process is being used to bring back central banks. In March, the Swiss National Bank was the first major central bank of the cycle to lower the cost of borrowing money. It is expected that later this year, the European Central Bank, the Federal Reserve, and the Bank of England will all take similar steps.

In recent times, there has been a decline in investor wagers regarding Fed rate cuts due to data that has exceeded expectations. In contrast, labor yields in the United States have exhibited an upward trend. On the other hand, bond yields in the euro zone have largely mirrored this trend.

“More differences between central banks would lead to real volatility,” said Samuel Zief, who is in charge of global FX strategy at JPMorgan Private Bank. Instead, he insisted that such volatility was not likely to happen in the first six months of the year, since inflationary trends in the US and Europe were similar.

TRUMP CARD

Donald Trump, who hinted at the prospect of a 10% universal import tariff last year and added in February that, should he reclaim the White House, he could impose tariffs of 60% or more on Chinese commodities, also loomed large.

Click Here to Read : Donald Trump (45th U.S. President) Biography

“Tariffs and additional taxes could cause the dollar to strengthen,” Themos Fiotakis, global director of FX strategy at Barclays, added. He added that the euro and the Chinese renminbi would almost certainly suffer as well.

Barclays estimates that tariffs could increase the value of the currency by 3% in the event that Trump is re-elected. Furthermore, the bank has predicted that parity could potentially be attained between the euro and the U.S. dollar.

Presently, Joe Biden and Donald Trump are unable to reach a consensus, which suggests that the daily global currency market volatility of $7.5 trillion will increase as a result of divergent opinion surveys preceding the November election.

Oliver Brennan, an FX volatility strategist at BNP Paribas, explains that traders are positioning themselves for potential volatility in the yuan, Polish zloty, and Mexican peso—all of which witnessed declines subsequent to Trump’s 2016 victory—via options, which enable investors to place bets on currency prices.

“Volatility in the 9-month to one-year range (for those three currencies) is really high, and because nothing is happening now, volatility is really low,” he pointed out.

“If you look at any currency there is a kink around the November election, but the kink is huge in those three.”

Not Worth Trading

The present decrease in volatility is constraining the range of opportunities that are accessible.

Currency markets are in a deep freeze “Due to current risk profile, currency is allocated significantly less than the long-term average,” said senior portfolio manager Jamie Niven of Candriam.

This assertion holds true in particular in relation to specific currency pairings. “It is not worthwhile to trade euro-sterling at this time,” noted Yusuke Miyairi, a strategist at Nomura. Since 2006, volatility in the pair has been at its lowest.

However, indications are growing that areas of high volatility are starting to manifest due to fluctuations in interest rates.

In spite of the Bank of Japan’s March rate hike, the yen plummeted to its lowest level since 1990 due to traders’ expectation that Japanese financing costs would remain close to zero.

As stated by strategists, this resulted in currency fluctuations throughout Asia, including the Chinese yuan, demonstrating how developments in one region can have repercussions on the entire market.

Additional currency support might be attainable through direct intervention by the government of Japan.

Since the inception of the common currency, the euro recorded its largest quarterly gain against the franc in Europe as a consequence of Switzerland’s rate reduction.

As a result, investors are utilizing all available resources and capabilities.

Carry trade strategies are particularly attractive to Guillaume Rigeade, co-head of fixed income at Carmignac, during periods of low volatility. Carry transactions involve investors borrowing in a currency with low interest rates in order to acquire a currency with a higher yield.

Furthermore, he asserted that when volatility is minimal, the cost of hedging an equity or bond portfolio is reduced.

Zief, an employee of JPMorgan, has not had more promising prospects. “At least we have an environment with carry trades despite the fact that volatility is low,” he contends. “Low volatility with very low rates…is even worse.”

This article is originally Published by Aol News

Also Read : BJP Wants Resignation Of Kejriwal To Stop Free Water And Electricity: AAP MP Sanjay Singh

Nifty 50 Price Live blog for 01 Apr 2024!

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Nifty 50 Price was trading at 22462.2 (0.61%) at 12:30. The Nifty 50 has been trading between 22529.95 and 22443.35 today.

Live Nifty 50 Price Updates: The index was trading at 22462.2 (0.61%) at 12:30. The Nifty 50 has been trading between 22529.95 and 22443.35 today. The Nifty futures are currently trading at 22596.95 (0.48%) and the open interest change is -0.89%, indicating that short sellers are covering their positions and that the surge may not last for much longer.

  • Nifty 50 Open interest and price movement inference

Nifty 50 futures are at 22596.95 (0.48%) with an open interest charge of -0.89% which indicates the Price Increase is due to short sellers covering their positions & the rally might not sustain in the near future.

  • Nifty 50 Share Price Today Live: Stocks Witnessing Upper Circuits and Lower Circuits

Nifty 50 Share Price Today Live:

Check out the stocks locked at Upper Circuit or having Only Buy orders.

  • Genus Power Infrastructures (241.8)
  • India Tourism Development Corp (663.1)
  • Transformers & Rectifiers India (415.4)
  • Check out the stocks locked at Lower Circuit or having Only Sell orders.
  • SKIL Infrastructure (6.5)
  • V R INFRASPACE ORD (114.95)
  • Omfurn India (72.8)
  • Nifty 50 Share Price Today Live: Performance of the Sectoral Indices on the NSE today

Nifty 50 Share Price Today Live:

Check out how the various Sectoral Indices are trading on the NSE today.

  • NIFTY 500, Price: 20482.6 (1.12%)
  • NIFTY Auto, Price: 21548.4 (0.6%)
  • NIFTY Bank, Price: 47563.85, (1.12%)
  • Nifty 50 Share Price Today Live: Most active Calls & Puts contracts for Nifty 50

Nifty 50 Share Price Today Live: Below are the most active Call & Put options contracts for Nifty 50.

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CALL:

  • Expiry Date: 04 APR 2024, Strike Price: 22500.0, Price: 115.4
  • Expiry Date: 04 APR 2024, Strike Price: 22600.0, Price: 69.4
  • Expiry Date: 04 APR 2024 Strike Price: 23000.0, Price: 4.45

PUT:

  • Expiry Date: 04 APR 2024, Strike Price: 22500.0, Price: 112.65
  • Expiry Date: 04 APR 2024, Strike Price: 22400.0, Price: 72.35
  • Expiry Date: 04 APR 2024, Strike Price: 22300.0, Price: 43.8
  • Nifty 50 Share Price Today Live: Stocks witnessing high volume in trades today

Nifty 50 Share Price Today Live: These stocks are witnessing an unusually high volume in trade today Tata Steel (32682647), HDFC Bank (4255038), and State Bank Of India (3633505)

  • Nifty 50 Share Price Today Live: Stocks breaching their 52-week high/low on 01 Apr 2024

Nifty 50 Share Price Today Live: Stocks that have breached their 52 week high/low today,

High: Tata Steel (159.15), Adani Ports & Special Economic Zone (1358.7), Larsen & Toubro (3813.35),

Low:

  • Nifty 50 Open interest and price movement inference

Nifty 50 futures are at 22621.85 (0.59%) with an open interest change of -0.88% which indicates Price Increase is due to short sellers covering their positions & the rally might not sustain in near future.

  • Nifty 50 Share Price Today Live: Advance to Decline Ratio on the Nifty 50 at 10:30

Nifty 50 Share Price Today Live: The Advances to Declines ratio on the Nifty 50 at 10:30 is at 7.33

  • Nifty 50 Share Price Today Live: Top Gainers & Losers at 10:00

Nifty 50 Share Price Today Live: Top Gaining & Losing Stocks on the Nifty 50 at 10:00

  • Gainers: JSW Steel, Tata Steel, Apollo Hospitals Enterprise
  • Losers: Bharti Airtel, Bajaj Auto, IndusInd Bank

Top 3 sectors gaining and losing at 09:35

The NIFTY Realty at (1.69%), NIFTY Smallcap 250 at (1.6%) & NIFTY Metal at (1.38%) are currently the top performing sectors among the Sectoral Indices. While NIFTY GS 8 13 Yr at (0.03%), NIFTY GS 10 Yr at (0.03%), NIFTY GS 4 8 Yr at (0.05%) are currently the low performing sectors.

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Nifty 50 Opening Update

The Nifty 50 opened at 22326.9 (0%), 0 points higher than the previous closing.

  • Nifty 50 Share Price Today Live: Resistance & Support levels for Nifty at 09:00

Nifty 50 Share Price Today Live: At current prices, Nifty 50, faces the below Resistance and Support levels

R122371.9R222620.15R322724.3
S122019.5S221915.35S321667.1

  • Nifty 50 price live: Nifty 50 closed at 22123.65 on the last trading day

The Nifty 50 index closed at 22123.65 on the last trading day.

Nifty 50, Sensex hit fresh all-time high; why is Indian stock market gaining today?- Explained

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Today’s stock market: The Sensex and Nifty 50, Indian stock market indices, reached new all-time highs in intraday trading on Tuesday.

Today’s stock market: Indian stock market benchmarks the Sensex and Nifty 50 set new all-time highs in intraday trade on Monday, April 1, with widespread purchasing despite mixed global cues.

The Sensex began at 73,968.62, up 0.82 percent from the previous close of 73,651.35, and reached a new all-time high of 74,254.62 inside the first two hours of trading.

The Nifty 50 began at 22,455 against the previous finish of 22,326.90, rising 0.90 percent to a new record high of 22,529.95 in the morning session.

Mid and small-cap groups experienced significantly greater improvements. In the morning trading session, the BSE Midcap index surged by more than 1%, while the Smallcap index increased by more than 2%.

The market capitalization of BSE-listed corporations increased to over ₹392 lakh crore from around ₹387 lakh crore in previous session.

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Why is the Indian stock market gaining today?

According to experts, the market has a favorable undercurrent due to India’s excellent economic prospects. Furthermore, the anticipation of rate decreases in the future months is supporting market mood. Investors are buying Indian equities following the recent correction, as they remain optimistic about the Indian stock market in the medium to long term.

V K Vijayakumar, Chief Investment Strategist of Geojit Financial Services, stated that the market has a bullish undertone and is gaining speed.

“The market has been showing signs of consolidation but the spurt in Nifty by 322 points on the last 2two trading days indicates that the upward momentum can be sustained,” Vijayakumar, the market analyst, said.

Vijayakumar stated that several mutual funds have begun restricting redemptions from smallcap schemes due to worries about frothy valuations in this segment, which could result in increased flows of funds into largecaps. This would lift the huge caps.

According to brokerage firm ICICI Direct, the Nifty 50 may continue to trade on a positive bias, with immediate support near 22,000.

The brokerage firm anticipates the index to continue its northward trek and gradually approach 22,700 in the next weeks.

“Empirically, in General Election year, the index has a tendency to bottom out in the first quarter of the calendar year, followed by a rally (minimum 14 per cent rally from lows) towards the General Election outcome in each of seven instances over past three decades,” ICICI Director said in a statement.

“In the current context, we expect the index to continue the same rhythm because it already went through a corrective phase in the first quarter and built a stronger base. As a result, the election outcome laid the foundation for the second leg of a bull surge to 23,400. In the process, 21,900 would serve as immediate support, which we intend to maintain,” the brokerage business stated.

The Sensex and Nifty 50 both saw remarkable gains of 29% and 25%, respectively, in the previous fiscal year (FY24). Experts believe that these indexes will continue to expand strongly in the coming fiscal year, despite persistent obstacles.

“Considering the consistent earnings growth and an easing interest rate environment, the Nifty 50 may deliver a healthy double-digit return in the low to mid-teens,” Naveen Kulkarni, Chief Investment Officer at Axis Securities PMS, told Mint.

Niraj Kumar, Chief Investment Officer at Future Generali India Life Insurance Company expects FY25 to be driven by sustained corporate earnings growth, policy continuity and a favourable geopolitical landscape and any disappointment on these fronts may have negative ramifications on the market.

With inputs from Livemint!

Prices for gold and silver as of today, April 1, 2024: Review the most recent prices in your city.

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Gold And Silver Prices Today:10 gm of 24 carat gold was at Rs.69471.0 in Delhi whereas 1 kg of silver was Rs.77900.0 in Delhi.

Prices of Gold and Silver Today: On Monday, the price of gold increased little.24 carat gold now costs Rs. 6947.1 per gramme, an increase of Rs. 672.0.22 carat gold costs Rs. 6363.6 per gram, which is an increase of Rs. 616.0.
The price of 24 carat gold has changed by -1.46% throughout the past week.In contrast, it has been -6.23% for the past month.

Silver costs Rs. 77900.0 per kg, which is an increase of Rs. 100.0 per kg.

Delhi’s Gold Rate
In Delhi, the current gold rate is ₹69471.0/10 grams. As of today, March 31, 2024, the gold rate was ₹69135.0/10 grams. and on March 26, 2024, the gold rate was ₹68124.0/10 grams last week.

Delhi’s Silver Price
The current price of silver in Delhi is ₹77900.0/Kg. As of today, March 31, 2024, the price of silver was ₹77800.0/kg. and on March 26, 2024, the price of silver was ₹77900.0/Kg last week.

Chennai’s Gold Rate
The current gold rate in Chennai is ₹68530.10 grams out of 10. As of March 31, 2024, the gold rate was ₹68732.10 grams out of 10. and on March 26, 2024, the gold rate was ₹67395.10 grams out of 10.

Chennai’s Silver Price
The current price of silver in Chennai is ₹80900.0/Kg. As of today, March 31, 2024, the price of silver was ₹80800.0/kg. and on March 26, 2024, the price of silver was ₹80900.0/Kg last week.

Gold Rate in Mumbai

Gold Rate Today in Mumbai is ₹68664.0/10 grams. Yesterday’s Gold Rate on 31-03-2024 was ₹68866.0/10 grams. and last week’s gold rate on 26-03-2024 was ₹67461.0/10 grams.

Silver Price in Mumbai

Silver Price Today in Mumbai is ₹77900.0/Kg. Yesterday’s Silver price on 31-03-2024 was ₹77800.0/Kg. and last week’s silver price on 26-03-2024 was ₹77900.0/Kg.

Gold Rate in Kolkata

Gold Rate Today in Kolkata is ₹68866.0/10 grams. Yesterday’s Gold Rate on 31-03-2024 was ₹69471.0/10 grams. and last week’s gold rate on 26-03-2024 was ₹68256.0/10 grams.

Silver Price in Kolkata

Silver Price Today in Kolkata is ₹77900.0/Kg. Yesterday’s Silver price on 31-03-2024 was ₹77800.0/Kg. and last week’s silver price on 26-03-2024 was ₹77900.0/Kg.

The gold June 2024 MCX futures were trading at Rs.68814.0 per 10 gm up by 1.644% at the time of publishing.

The silver September 2024 MCX futures were trading at Rs.78352.0 per kg up by 0.748% at the time of publishing.

Fluctuations in Gold and Silver prices are impacted by a range of elements, among them the input from respected jewelers. Elements such as the worldwide desire for gold, variations in currency values between countries, current interest rates, and government rules regarding the gold trade all play a role in these changes. Furthermore, worldwide occurrences such as the state of the global economy and the potency of the US dollar against other currencies also exert influence on gold prices in the Indian market.

Inputs from Livemint News!

Also Read : Bihar Board 10th Result 2024 Live Updates: Results will be announced by BSEB via biharboardonline.bihar.gov.in on March 31!

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