IBTimes News

Gold futures with February expiry eased moderately down 0.04 per cent, settling at Rs 1,35,752 on MCX on Friday. The price of 10 grams of 24-carat gold closed the week at Rs 1,34,782 up from Rs 1,33,195 at the year end, according to data published by the India Bullion and Jewellers Association (IBJA).

The rise in reserves also reflects the central bank's efforts to manage liquidity and ensure stability in the foreign exchange market. The RBI has stated that it closely monitors developments in the forex market and intervenes when necessary to maintain orderly market conditions.

Infrastructure-led sectors dominated investment intentions, with the top five sectors accounting for nearly 80 per cent of total announcements. Electricity (22.6 per cent), led by renewables, emerged as the largest contributor, according to the Bank of Baroda report.

RBI to stop Rs 500 notes from ATMs by March 2026. Some social media posts claim that the Reserve Bank of India will discontinue the circulation of Rs 500 notes by March 2026. This claim is fake, according to the X handle.

Central GST collections rose to Rs 34,289 crore, state GST collections to Rs 41,368 crore, and integrated GST collections to Rs 98,894 crore.

The earlier deadline of December 31 was extended after a large number of users complained about technical problems on the MCA portal. Filers reported frequent timeouts, glitches and system errors that made it difficult to upload documents and complete submissions on time.

By simplifying taxation, modernising labour laws, strengthening MSMEs, boosting rural employment and advancing digital payments, these measures collectively foster trust, resilience and global competitiveness in India's economy, according to an official statement issued on Tuesday.

The date of the next GST Council meeting remains unknown, the reports said. The Council last met in September for its 56th session, when rates on purifiers were left unchanged, and officials said any reduction would require consensus among state finance ministers.

Around 9.30 am, the Sensex moved down 115 points, or 0.14 per cent to 84,579 and the Nifty eased 30 points, or 0.12 per cent to 25,911. Main broad cap indices performed in line with benchmark indices, with the Nifty Midcap 100 declined 0.03 per cent, while the Nifty Smallcap 100 lost 0.08 per cent.

The pullback followed an early surge that saw gold touch $4,584 per troy ounce and silver climbed to $82.67 per ounce before both metals failed to hold gains. Analysts attributed the retreat largely to stretched long positions, a hike in margin requirements by the Chicago Mercantile Exchange (CME) and thin holiday trading that amplified intraday swings.

The sharp fall highlights the growing challenges Ola Electric faced through the year. Ola Electric's troubles were also linked to operational issues, including customer complaints related to service delays and inconsistent deliveries.

The growth momentum further surprised on the upside, with GDP expanding to a six-quarter high in Q2 of 2025-26, reflecting India's resilience amid persistent global trade uncertainties.