IBTimes

Indian equity benchmarks Sensex and Nifty 50 opened higher on Thursday, tracking positive global cues as geopolitical tensions between the US and Iran showed signs of easing. Gains were driven by sectors like realty, financials, and consumer durables, with mid-cap and small-cap stocks outperforming.

Gold and silver prices edged higher on the Multi Commodity Exchange, supported by optimism over easing geopolitical tensions in West Asia following remarks by Donald Trump. Gold traded near 1.55 lakh per 10 grams.

One97 Communications (Paytm) has crossed a critical milestone by becoming a majority Indian-owned company, with domestic investors holding over 50.3%. This marks a strategic shift from foreign-dominated ownership to domestic control, reflecting a broader move toward economic sovereignty in India's digital ecosystem.

Global oil prices fell for a second consecutive session as market sentiment improved on expectations of renewed diplomatic talks between the United States and Iran. The decline followed comments from US President Donald Trump suggesting that negotiations involving the US, Israel, and Iran could resume soon.

Gold prices remained steady on Wednesday as easing geopolitical tensions between the US and Iran supported investor sentiment. MCX gold May futures were slightly higher, while technical levels indicate key resistance at Rs 1,55,000 and support near Rs 1,54,000Rs 1,52,000.

The IT Department has introduced Form 141, a single challan-cum-statement replacing four TDS forms 26QB, 26QC, 26QD and 26QE to simplify compliance. It will be used for TDS on property deals, rent above 50,000/month, high-value professional payments, and virtual digital assets like cryptocurrencies and NFTs.

Indian equities have proven to be a strong long-term wealth creation asset, delivering around 1112% CAGR over the past 20 years, with the Nifty 50 growing investor wealth more than 8 times. Since 1990, equities have expanded nearly 80 times, translating to about 13% annual returns, according to the FundsIndia report.

Global crude oil prices fell up to 3% on Tuesday as hopes of renewed USIran talks eased fears of supply disruptions linked to tensions around the Strait of Hormuz. Brent crude dropped to around $96.6 per barrel, while WTI slipped to about $95.69.

Gold loans now account for about 11% of the retail credit portfolio, up from 5.9% in 2022. Growth has been driven by higher borrower adoption, increased participation from NBFCs and banks, and a shift towards more creditworthy borrowers. Women borrowers have also played a key role, with their share rising to 39%.

Gold and silver prices declined on Monday amid heightened geopolitical tensions following Donald Trump's announcement of a US blockade of the Strait of Hormuz. On the Multi Commodity Exchange (MCX), gold fell up to 0.78%, while silver dropped as much as 2.5%. Global markets also mirrored the weakness, with COMEX gold and silver witnessing sharp declines.

The Nifty closed 0.86 per cent, or 207.95 points, lower at 23,842.65, while the Sensex ended the session down 0.91 per cent, or 702.68 points, at 76,847.57.

Gold ETF inflows in India sharply declined in March, with net investments more than halving to Rs 2,266 crore, according to Association of Mutual Funds in India. The drop was driven by geopolitical tensions, particularly involving the United States and Iran

Gold reserves jumped significantly, while foreign currency assetsthe largest componentalso recorded a steady rise. Minor increases were seen in special drawing rights, while India's reserve position with the International Monetary Fund remained unchanged.

RBI's directive limiting banks' net open rupee positions to $100 million and its stance on curbing excess offshore positions has prompted lenders to adjust holdings ahead of the deadline. Analysts expect short-term caution in the market until clarity emerges on RBI's position limits, though fears of sharp rupee depreciation may be overstated.