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Gold hovers just below its record high, driven by safe-haven demand due to geopolitical tensions and tariff uncertainties. Investors are keenly awaiting the Federal Reserve’s policy decision and remarks from Fed Chair Jerome Powell, which could influence future monetary policy.
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U.S. stocks fell on Tuesday, driven by concerns ranging from President Trump’s trade wars to Big Tech outlooks and geopolitical tensions. Gold surged to over $3,000 an ounce while major Wall Street indices dropped between 0.6% and 1.7%, reflecting investors’ fragility and economic uncertainties ahead of the Federal Reserve’s upcoming policy decisions.
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Sensex surged 1,131 points, revisiting the 75,000 level, and Nifty rose 1.45% on global bullish trends. Paytm gained 8%, with resistance at 770 and support at 710. Cipla is breaking out above 1500, support at 1450. Bajaj Finserv is weak, with downside levels at 1820-1800. Analyst suggestions include cautious trading and adhering to stop losses.
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Life Insurance Corporation of India (LIC) is set to announce its decision to acquire a minor stake in a health insurance company by the end of March. Concurrently, LIC is in talks with the Reserve Bank of India about issuing long-term government bonds with maturities of up to 100 years.
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Axis Bank is negotiating to acquire between 3,500 and 4,000 ATMs from AGS Transact Technologies due to deteriorating service quality. The bank plans to audit the ATMs before finalizing the deal and transfer the machines to another service provider amidst AGS Transact’s financial troubles.
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