Gold, silver rise on bullion: Sensex tumbles, rupee breaks

Sensex lost 624 points, Nifty lost 184 points: Rupee lost 71 heading 71.40, six-month bottom: investor assets lost more than Rs 2.22 lakh crore.

Ahmedabad. August 13, 2019, Tuesday

Indian markets were also affected by the collapse of the global market amid fears of a global downturn, coupled with the rise of trade wars globally. Smashed 624 in Sensex and 184 points in the Nifty on the back of heavy selling pressure led by foreign investors who did not get any relief from the government on domestic tax issues.

The Indian rupee lost its six-month lows on Friday, following a strong dollar surge. On the other hand, the rise of gold and silver globally led to a boom in two precious metals in Ahmedabad gold and silver market.

Asian and European stock markets globally were reported today, with fears that the global economic downturn is also gradually gaining momentum, with other countries scrambling to trade turmoil between the United States and China.

Meanwhile, yesterday with Reliance Industries becoming a debt-free company in the AGM, the digital revolution advertising market initially had a favorable impact but Indian stock markets were also lurking behind the erosion of global markets. On the other hand, the pressure of selling under the leadership of foreign investors was reinforced by the government not declaring any specific action on the issue of the super rich tax and auto industry slowdown.

Thus, the Sensex lost 623.75 points at the end of trading following a fierce pressure from the sell-off from Chomer, losing 37,000 level and remained soft at 36958.16. When the Nifty lost 183.80 points, it lost 11,000 and slipped to the bottom of 10925.85.

BSE market capitalization today touched an all-time high of over Rs 600 on the Sensex. 2.22 lakh crore was washed away and at the end it was Rs. 139.46 lakh crore.

The Indian rupee returned sharply as the dollar strengthened with the global recession. The Indian rupee lost 62 paise against the US dollar in the exchange market today, losing an important 71 and dropping to a six-month low of 71.40.

The strength of the dollar today had a favorable effect on precious metals. Globally, gold prices were up $ 1535.40 today and $ 1621.40 late in the evening. Silver, however, rose to $ 17.30.

Gold in the Ahmedabad gold-silver market today rose to Rs. 300 increased to Rs. Reached the new top of 39200. Gold (99.5) closed at 39050. While silver was Rs. 1500 bounced up to Rs. The 45000 level was strong.

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