9:10 PM
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China is easing gold import/export licensing, aiming to diversify reserves from the US dollar. The People's Bank of China (PBOC) plans to broaden the use of faster “multi-use permits” by increasing authorized ports and extending permit validity. This builds on a 2016 initiative to streamline gold trade.
7:10 PM
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The Delhi government is gearing up to launch its Pink Card initiative by mid-October, offering women lifetime free bus travel as a Bhai Dooj gift. Registration for the 'Saheli Smart Card' will be online, requiring KYC verification through selected banks.
5:10 PM
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India aims to elevate at least two public sector banks into the world's top 20 by 2047, leveraging improved financial performance and reduced NPAs. The PSB Manthan 2025 focused on modernization, governance, and global competitiveness. Discussions included digital transformation, risk management, and priority sector lending to achieve this ambitious goal.
9:10 PM
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Russia's central bank lowered its key interest rate to 17% to stimulate the slowing economy, even as elevated inflation persists at 8.2%. This decision reflects the challenge of balancing economic support during wartime with the need to control rising prices. Increased government spending on the conflict in Ukraine has widened the budget deficit, adding further complexity.
7:10 PM
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India's foreign exchange reserves witnessed a substantial increase of $4.038 billion, reaching $698.268 billion in the week ending September 5, according to the Reserve Bank of India. This surge was primarily fueled by a significant rise in gold holdings, which jumped by $3.53 billion. Foreign currency assets also contributed, increasing by $540 million.
8:10 AM
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Stock market recommendations: Bajaj Broking Research suggests a range-bound, upward-biased market, recommending Reliance Industries and Persistent Systems for September 12, 2025. Nifty is consolidating, aiming for 25,250, while Bank Nifty shows positive momentum, targeting 55,350.
2:10 PM
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The EPFO is set to deliberate on the EPFO 3.0 initiative, potentially enabling partial PF withdrawals via ATMs or using them via UPI. Discussions will also include a proposal to increase the minimum monthly pension to between Rs 1,500 and Rs 2,500.
9:10 AM
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Top stock market recommendations: Nuvama Professional Clients Group's Aakash K Hindocha recommends buying Apl Apollo Tubes Ltd, Tata Motors, and Bharat Forge Ltd. Nifty is expected to consolidate between 24700 and 25100, while Bank Nifty could rally from 54100.
11:10 AM
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Gold prices are expected to continue their bullish trend, driven by expectations of a Federal Reserve interest rate cut and weak US labor market data. Political instability and central bank demand are also supporting the price. While overbought conditions suggest caution, analysts anticipate a potential rise to $3720-$3750 per ounce in the coming weeks.
9:10 AM
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12:10 AM
Blogger
PNC Financial Services is set to acquire FirstBank for $4.1 billion, significantly boosting its retail banking presence in the US. This acquisition will establish PNC as the largest bank in Denver and expand its Arizona network, increasing its total assets to approximately $575 billion. The deal underscores PNC's aggressive growth strategy through acquisitions and organic expansion.
5:10 PM
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The EU is contemplating a 19th round of sanctions targeting Russian banks and energy firms to pressure Putin over Ukraine. These measures may include restrictions on payment systems, cryptocurrency exchanges, and oil commerce. The EU aims to align with the US, which is also considering actions like sanctions on Russia's oil tanker fleet.
3:10 PM
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Central bank gold acquisitions have slowed, influenced by high prices and geopolitical tensions, despite a continued trend of reserve diversification away from US assets. While purchases have decreased compared to last year, overall holdings remain substantial.
7:10 PM
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Prime Minister Modi's China visit, coupled with GST rate cuts, has sparked optimism for Indian equities to narrow their performance gap with emerging markets. Improved Sino-Indian relations could attract investments and expertise, potentially offsetting US tariff impacts. Policy easing by the Reserve Bank of India and GST reductions further support India's investment outlook.
10:10 AM
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Stock market recommendations: Amidst market volatility, Nifty closed the week positively, facing resistance at 24950-25000. Bank Nifty lagged, trading below key EMAs. SBI Securities' Sudeep Shah recommends accumulating Swiggy, citing a breakout and rising RSI, targeting ₹480. Goldiam International is also favored, having broken a consolidation phase with increased volumes, with a short-term target of ₹470.
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