The Gift Nifty is signaling a weak opening for Indian markets, trading around 23,974—nearly 298 points below the Nifty futures’ previous close. This decline comes amid heightened geopolitical tensions, as Pakistani drones and missiles targeted military stations along the International Border in Jammu and Kashmir. The Indian Army responded swiftly, neutralizing the threat and shooting down two drones in the Naushera sector. On Thursday, domestic equities ended lower, weighed down by late-session selling as investors reacted to the rising cross-border tensions.
RBI likely sold $12 billion in gold reserves amid rupee pressure
India’s central bank, the Reserve Bank of India (RBI), is estimated to have sold nearly $12 billion worth of gold reserves within a two-week period ending May 22. The assessment, based on...
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