Saturday, March 07
India and the US have announced a framework for an interim trade agreement, significantly reducing tariffs on Indian goods to 18%. This pact aims to boost bilateral trade, with India committing to substantial purchases of US energy and defense products, while also addressing non-tariff barriers and promoting digital trade.
US President Donald Trump has revoked the additional 25% tariff on Indian imports, previously imposed due to New Delhi's Russian oil purchases. This decision follows a recent trade deal where India agreed to reduce these imports. The move aims to ease trade tensions and comes as India has already begun scaling back its Russian oil acquisitions.
Bitcoin has experienced significant losses, dropping over 20% since early 2026 and losing nearly half its value since its October peak. This decline, exacerbated by concerns over Federal Reserve policy and tech sector weakness, has impacted companies holding digital assets and erased gains since Trump's election.
Indian equity markets closed higher Friday, with the Sensex and Nifty gaining ground. The Reserve Bank of India maintained interest rates and proposed allowing banks to lend to REITs, a move expected to boost the real estate sector. Despite a volatile session, late buying in select stocks, particularly FMCG and private banking, drove the recovery.
Gold and silver prices plummeted on the MCX Friday, driven by weak global sentiment and a stronger dollar. Silver futures saw a sharp 6% drop, while gold futures fell 2%. International markets showed mixed trends. Increased margin requirements on the MCX added to the volatility, prompting traders to cut positions. Experts advise caution amid high price swings.
Stock market today: The BSE Sensex rose 266.47 points, or 0.32 per cent, to close at 83,580.40, recovering sharply from an intraday low of 82,925.35 as late buying lifted the index by 655.05 points toward the close. The NSE Nifty also finished higher, gaining 50.90 points, or 0.20 per cent, to settle at 25,693.70 after a volatile trading session.
Gold and silver price prediction: Gold and silver prices have resumed their upward momentum after the recent crash, signalling bullish momentum, says Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:
