While experts believe that the market valuations were expensive on the back of multiple new peaks hit since September last year, do the recent corrections make for a good buying opportunity?
Benchmark 10-year yields were last up two basis points from Wednesday at 4.125%, and yields were also slightly higher for other medium to long-term maturities. Two-year yields were roughly unchanged after jumping on Wednesday.
The rupee s drop in step with Asia "will lack much follow through", a spot foreign exchange trader at a private bank said. He does not expect the currency to weaken much beyond 83.
Global central banks purchased 337 tonnes of gold in Q3CY23 the second highest 3rd quarter on record. Moreover, central banks have purchased 800 tonne of gold this year so far which is 14% higher compared to the same period last year. Looking at the current situation, the central bank will continue to add gold to diversify its reserves.