Business

Gold and silver prices continued their downward trend for the third consecutive day, with silver dropping nearly ₹40,000 and gold falling over ₹10,000 on the Multi Commodity Exchange (MCX). Silver Prices:Silver for 5 March delivery had closed at ₹2,65,652 per kg in the previous session. Today, it opened at ₹2,67,501 per kg but quickly fell during trading to ₹2,25,805 per kg—a decline of ₹39,847. By 2:00 PM, silver was trading at ₹2,35,000 per kg, down ₹30,652 (11.54%). Over the past three days, silver prices have dropped by more than ₹1.75 lakh. Gold Prices:Gold for 2 April delivery fell by ₹10,688 during trading. It had closed at ₹1,47,753 per 10 grams in the previous session and opened today at ₹1,46,000 per 10 grams. Prices dropped to ₹1,37,065 during the session, and by 2:00 PM, ...

Gold prices surged nearly 106% over the past year, while global demand for the precious metal hit record levels in 2025. During this period, the world purchased $552 billion worth of gold, exceeding the entire economy of Pakistan. China has played a key role in this global gold buying spree. Record Global Gold Demand:Gold demand rose by 40% in 2025, reaching a record 5,002 tonnes, marking the fourth consecutive year of growth. Since 2021, global demand has increased by 292 tonnes. Measured in U.S. dollars, the demand grew by 45%, with purchases surpassing Pakistan’s expected GDP of $410–417 billion for 2025–26. Global ETF holdings increased by 801 tonnes, the second-largest annual rise in history, while demand for gold bars and coins reached 1,374 tonnes, the highest in 12 years. Cen...

With overseas real estate investment gaining popularity, Budget 2026 has introduced measures that could impact Indian investors buying property abroad. Chartered Accountant C. Kamlesh Kumar, Taxation Partner at Ravi Rajan & Co. LLP, Delhi, explains the implications. Rules for Buying Property Abroad:Indian citizens purchasing property overseas must adhere to the RBI’s Liberalised Remittance Scheme (LRS). Under LRS, an individual can remit up to $250,000 per financial year. Families often pool their LRS limits to invest in international real estate. Payments can be made in installments, provided each remittance stays within the annual limit and is routed through proper banking channels. Compliance with the Foreign Exchange Management Act (FEMA), 1999 and maintaining accurate documenta...

The domestic stock market witnessed a major slump in the previous session following the Union Budget announcement. Although the markets were open on Sunday due to the budget, investor sentiment turned negative, resulting in losses of approximately ₹10 lakh crore. The BSE Sensex fell nearly 3,000 points during trading, before finally closing down 1,546 points. Current Market Scenario:On Monday afternoon at 12:30 PM, the BSE Sensex was trading up 350.38 points (0.43%) at 81,073.32, while the NSE Nifty 50 rose 61.30 points (0.25%) to 24,886.75. Markets are showing high volatility following the budget announcements. Stocks Showing Gains:Several major companies saw a recovery post the initial slump: Larsen & Toubro, Bharat Electronics, InterGlobe Aviation, Reliance Industries, Pow...

Finance Minister Nirmala Sitharaman recently announced a significant increase in the Securities Transaction Tax (STT) on Futures & Options (F&O) trading in her Budget 2026–27 speech. This move triggered sharp declines in the stock markets, with the BSE Sensex falling 1,546.84 points to 80,722.94 and the NSE Nifty dropping 495.20 points to 24,825.45. What is STT?STT, or Securities Transaction Tax, is levied on transactions in the stock market, particularly on F&O trading. Every purchase or sale of futures and options is subject to this tax, which directly increases the cost of brokerage for traders. What Changed in the Budget:The Finance Minister proposed the following increases: Futures: STT increased from 0.02% to 0.05% Options Premium: STT increased from 0.10% to...

Google co-founder Sergey Brin, one of the world’s richest individuals, has made his largest-ever public donation. According to media reports, Brin contributed $20 million (approximately ₹183.6 crore) to a new coalition called Building a Better California, aimed at addressing the state’s affordable housing crisis. Alongside Brin, several other Silicon Valley tech leaders also donated, bringing the total contributions to $35 million. Other Notable Donors:The donation campaign included former Google CEO Eric Schmidt, venture capitalist Michael Moritz, PayPal CEO Max Levchin, Stripe co-founder Patrick Collison, DoorDash co-founder Tony Xu, and Kleiner Perkins partner John Doerr. Schmidt and Moritz donated $2 million each, while Levchin contributed $1 million. This donation drive coincides w...

Smokers will have to shell out more as additional excise duty on cigarettes came into effect from Monday, February 1. The price of a 10-cigarette pack has risen by ₹22–₹25 at minimum, with premium brands seeing increases of up to ₹50–₹55 per pack. New Rates by Brand:Distributors report that 76mm premium cigarettes are now costlier by ₹50–₹55 per 10-cigarette pack, depending on the brand. Although companies have not yet officially announced the new Maximum Retail Price (MRP), distributors are billing old stock to retailers with 40% GST included. With the wholesale market closed on Sunday, traders expect the new priced stock to reach the market from Monday. For example, mid-range popular cigarettes such as Wills Navy Cut, which previously cost ₹95 per pack, may now be priced around ₹12...

Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2026–27 on Sunday. In her Lok Sabha speech, she stated that Prime Minister Modi’s “Reform Express” is on the right track but did not announce any major reforms. She could have reduced the substantial subsidy on urea, but she chose to focus on continuity and stability instead. A Veteran in Budget-Making:Sitharaman has presented nine budgets so far, making her the first Finance Minister in India to achieve this milestone. This year’s budget, however, has been termed “least exciting,” as it focused more on maintaining steady growth than announcing bold reforms. The first half of FY2026 has already seen an 8% growth, and in a global scenario of uncertainties, the government has preferred not to disrupt thi...

Pune Brothers Achieve the Impossible:Two brothers from Pune, through hard work and perseverance, have gone from poverty to prosperity, surprising everyone by gifting their parents a luxury Audi car. Their journey is not just about buying a car—it is a story of determination, family bonds, and overcoming hardships. Humble Beginnings:Rohit Nandeshwar and his brother grew up in a small, modest home where money was always tight. The roof leaked, the walls were broken, and financial struggles were constant. Their father drove an auto-rickshaw for 35 years, while their mother managed the household and supported the family through small savings. Despite these challenges, love and care were abundant at home. Early Work Experience:From a young age, the brothers took on responsibilities to hel...

Stock Market Overview:Dalal Street witnessed a sharp decline on Sunday, with both key indices closing lower. The 30-share BSE Sensex fell 1,546.84 points to 80,722.94, while the NSE Nifty dropped 495.20 points to close at 24,825.45. The domestic market was hit after the Union Budget announcement, which included an increase in Securities Transaction Tax (STT) on futures and options (F&O) trades. Investors reacted negatively to this move, leading to a significant sell-off. During intraday trading, the Sensex slipped below the crucial 80,000 level to 79,899.42 before recovering slightly, closing with a loss of 1.88%. The Nifty also hit a low of 24,571.75, down nearly 2.95% intraday, and settled with a 1.96% decline. Among Sensex constituents, State Bank of India (SBI) saw the steepe...