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Domestic market developments
Domestic market developments: · Domestic benchmark equities ended lower today, tracking weak global cues, as worries of a trade war between the US and world's other economies dampen investor sentiment. Financial and energy stocks were among the biggest drags on both the indexes. Sensex and Nifty ended 0.61% and 0.55% lower respectively. · Government bond prices ended flat today. However, weakness in Rupee versus Dollar fuelled fears of FPI outflows in the Indian government debt market. Sharp rise in crude oil prices on Friday disrupted risk-appetite. However, hope of more open market bond purchases by RBI provided some support to prices. The yield on 10-year G-sec ended at 7.82% similar to the previous close. · The Rupee weakened against the US Dollar on weak risk appetite following ongoing global ...
Sovereign Gold Bonds Scheme
Sovereign Gold Bonds Scheme Investors will have the option to buy sovereign gold bonds instead of physical gold this Dhanteras. Applications for gold bonds will be accepted from November 5 to November 20, 2015, while these bonds will be issued on November 26, 2015, the Reserve Bank of India said. Here are 10 things to know about gold bonds 1) Sovereign gold bonds will be issued by the Reserve Bank of India. They will denominated in particular amount of gold and linked to the price of the yellow metal. If the price of gold increases, the value of the bond goes up, benefiting investors. 2) Investors can buy a minimum of 2 units or 2 grams and a maximum at 500 grams per fiscal year. The Reserve Bank has fixed the public issue price at Rs 2,684 per gram for the sovereign gold bonds. This means the minimum investment comes to around Rs 5,400. 3) Investors will get a fixed rate of interest of 2.75 per cent per annum (payable every 6 months) on the initial value of investment. 4) The gold bo...
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