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India’s gold demand to soften in Q3 on price rise, rural distress: WGC

The fall in consumption could weigh on global prices that have risen nearly 10 per cent so far in the 2019, but could help in bringing down the south Asian country’s trade deficit, supporting the rupee.Rural distress, higher prices and a hike in India’s import tax could dampen demand during the September quarter, said Somasundaram PR, the managing director of WGC’s Indian operations.

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GIC Re hikes its property capacity to Rs 3,500 cr, plans US operations: Vaidyan

Vaidyan completed her tenure of 41 months as the CMD of GIC Re  on Wednesday. After Vaidyan’s retirement, the government has asked two senior officials of GIC Re, M Sashikala , director & general manager and Reena Bhatnagar, general manager to discharge the function of  Chairman & managing director(CMD), of the listed company, from Aug 1, till a regular appointment is done.

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Foreign investors snap 5-month buying streak, pull out Rs 3,758 cr in July

V K Vijayakumar, chief investment strategist at Geojit Financial Services, said “The sentiments have been impacted by the higher tax on FPIs registered as trusts and association of persons. However, the main reason for the selling is the sharp slowdown in the economy particularly in segments like autos. Besides, the second quarter results from corporates have not been reassuring.”

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