Silver price today: Silver prices surged to a new high of Rs 1,84,727 per kilogram on Wednesday, driven by a weakening rupee and strong international market trends. Gold futures also climbed significantly, with both precious metals benefiting from expectations of a US Federal Reserve interest rate cut next week.
India’s rupee hit a historic low of 90.30 against the US dollar, yet the government remains unconcerned. Chief Economic Adviser V Anantha Nageswaran stated the depreciation hasn’t impacted inflation or exports, expressing optimism for a recovery next year. Factors like FII outflows and dollar demand are influencing the currency’s slide.
Russian President Putin’s India visit is crucial for trade dynamics amidst US pressure. India’s energy security is now heavily reliant on discounted Russian crude, reshaping its procurement patterns. The visit aims to manage dependence in a fractured world, focusing on securing fuel, weapons, and payments.
Gold prices are soaring domestically and internationally, driven by a weakening rupee and anticipation of US monetary easing. Local rates jumped significantly as the rupee hit an all-time low. Globally, gold and silver futures firmed up, with investors betting on a US Federal Reserve interest rate cut next week, boosting confidence in the precious metal.
Nomura forecasts a potential 13% upside for the Nifty in 2026, projecting it to reach 29,300. This optimism stems from improving domestic and global conditions, including calmer geopolitics and stable macros. The brokerage also identified its top stock picks, anticipating a cyclical recovery in economic and corporate earnings growth.
Flight operations faced significant disruptions Wednesday morning as check-in systems at multiple airports simultaneously failed. Airlines, including IndiGo and Air India Express, resorted to manual procedures, leading to flight delays. Passengers were informed of a global Microsoft Windows service outage impacting airport IT systems.
Asian markets saw mixed trading, mirroring Wall Street’s gains but tempered by anticipation of key US economic data and the Federal Reserve’s upcoming meeting. Investors await crucial inflation and jobs figures, with a December rate cut widely expected. Strong US Black Friday sales offered some market cheer, while Bitcoin rebounded after a recent dip.
The Indian rupee has hit a new low of 90.05 against the US dollar, extending its downward trend. This depreciation is attributed to speculators and importers, with market experts citing the strong dollar and delays in the India-US trade deal as key factors.
Stock market recommendations: Mehul Kothari of Anand Rathi Shares and Stock Brokers recommends Kotak Bank, Hindustan Unilever, and Samvardhana Motherson International as top stock picks.
The Supreme Court upheld SEBI’s Rs 30 lakh fine on Reliance Industries for delayed disclosure of the Jio-Facebook deal. Justices Kant and Bagchi emphasized that listed companies must clarify speculative media reports to prevent market manipulation. The court stressed that larger entities bear greater responsibility for adhering to disclosure norms, dismissing RIL’s appeal.
