Bitcoin sinks below $103,000 as Israel-Iran conflict sparks global crypto selloff
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United News of India
37 minutes ago
- United News of India
Sensex tumbles by 1,070.39 points during the week amid geopolitical tensions
Mumbai, June 14 (UNI) The BSE Sensex declined 1,070.39 points or 1.30 per cent to settle at 81,118.60, posting sharp losses during the week ended June 13, weighed down by geopolitical tensions, including the ongoing US-China trade talks and escalating hostilities between the US and Iran. Sentiment further deteriorated after Israel carried out military strikes on Iran, heightening tensions in the oil-rich Middle East. Investors will closely monitor crude oil prices, bond markets and further geopolitical developments. Nifty tumbled 284.45 points or 1.14 percent to settle at 24,718.60. The broader market outperformed the frontline indices. BSE Mid-Cap index shed 0.90 per cent to close at 45, Small-Cap fell 0.13 per cent to end at 53,370.29. On Monday Sensex added 256.22 points to settle at 82,445.21. Nifty, too, rose 100.15 points to 25,103.20. On Tuesday as investors closely monitored ongoing US-China trade discussions, sensex shed 53.49 points to 82,391.72. Nifty rose 1.05 points or 0.00% to 25,104.25. On Wednesday, buoyed by positive global trade developments, including encouraging signals from US-China trade negotiations in London, Sensex added 123.42 points to settle at 82,515.14. Nifty rose 37.15 points to 25,141.40. On Thursday, dragged down by shaky global cues and jittery investor sentiment, Sensex tanked 823.16 points to 81,691.98. Nifty slumped 253.20 points to 24,888.20. The domestic equity indices ended with significant losses on Friday, mirroring a sell-off across Asian markets, after Israel launched military strikes on Iran Sensex slumped 573.38 points to 81,118.60. Nifty fell 169.60 points to 24,718.60. Shares that fell during the week were HDFC Bank by 2.99 pc, JSW Steel by 1.69 pc Mahindra & Mahindra (M&M) by 3.19 pc, .Larsen & Toubro (L&T) by 0.47 pc, and Maruti Suzuki India by 0.82 pc Multi Commodity Exchange of India (MCX) jumped 2.23 pc . The company said it received approval from the Securities and Exchange Board of India (SEBI) to launch electricity derivatives. Capri Global Capital surged 13.2 pc The company launched the autopay facility for gold loans, eliminating the need for manual payments or branch visits Glenmark Pharmaceuticals rallied 5.09 pc. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI). Zydus Lifesciences rose 1.47 pc. The company announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API) manufacturing facility located at Dabhasa, near Vadodara. UNI JS PRS
Economic Times
38 minutes ago
- Economic Times
Gold price above Rs 1 lakh. Will Quant MF prediction come true?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid safe-haven buying due to Israel-Iran tensions and weakness in the dollar index, gold August futures contracts at MCX surged sharply higher by Rs 2,011 or 2.04%, crossing the 1 lakh mark at Rs 1,00,403/10 grams on yellow metal's rally seems unstoppable, but a tone of caution still persists as industry experts recently stated that they foresee a potential near-term correction for the yellow metal Quant Mutual Fund , in a recent note, has highlighted that gold may be due for a short-term correction of 12-15% in dollar terms over the next two months. The fund cautioned investors that the metal may have "peaked out" in the short term, noting that while gold prices have surged recently, the momentum could slow down, and a retracement in prices could be on the Mutual Fund's outlook aligns with broader commodity sentiment, as the firm continues to advise investors to retain exposure to precious metals over the medium to long with the ongoing momentum, what does the future outlook of gold looks like?Despite the anticipated correction, Quant MF itself maintains a constructive view on gold in the longer run, citing its portfolio strategy centered on cyclical awareness and liquidity stated by the firm, 'Our medium-term and long-term views are equally constructive and we reiterate that a meaningful percentage of your portfolio should be dedicated towards precious metals.'Adding to the outlook on gold, Renisha Chainani, Head of Research at Augmont, shared her views on gold prices in India. She expressed a cautiously positive medium-term outlook for gold, forecasting prices to stabilize at Rs 97,000 per 10 to Chainani, the metal's price reflects significant gains over the past year, driven by global geopolitical tensions and central bank buying. However, Chainani anticipates a potential consolidation or a minor correction, with gold possibly dipping to Rs 90, this, she emphasized that such a dip could present a buying opportunity, particularly if global interest rates remain paused and geopolitical tensions further elaborated, 'The fact that central banks (particularly in emerging markets) still show a strong appetite to buy gold and the safe haven asset status for gold remains intact suggests that the appetite for gold will likely persist.'Looking ahead, Chainani anticipates that unless there is a sudden shift in global risk sentiment or aggressive monetary tightening, gold will likely remain firm, potentially heading towards Rs 1,05,000 in the medium a similar sentiment, Manav Modi, Senior Analyst at Motilal Oswal Financial Services , discussed gold's performance in 2025, noting that the yellow metal has surged more than 30% since the beginning of the year, but has also faced significant attributed the volatility to factors such as President Trump's tariff updates, geopolitical tensions, and concerns over global growth. He explained that while tariffs between the US and China were initially introduced and later reduced, the overall uncertainty in the market, coupled with weak economic data points from the US, continued to support gold a longer-term perspective, Modi sees strong support for gold around Rs 88,000-90,000 per 10 grams, suggesting that investors can maintain a "buy on dips" stance. He projected gold prices could reach Rs 1,00,000-Rs 1,06,000 over the next 12-15 months, provided that key support levels near-term corrections may be imminent, gold's long-term appeal remains intact. Analysts agree that geopolitical risks, central bank actions, and broader economic uncertainties continue to favor gold as a safe-haven asset.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
38 minutes ago
- Time of India
Income tax slabs for ITR filing FY 2024-25 are different under new tax regime: Check details
While filing an income tax return for AY 2025-26, a taxpayer has to use the income tax slabs for the FY 2024-25. Many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is necessary to calculate their tax liability. This is because the income tax slabs for FY 2024-25 (AY 2025-26), i.e., for the previous financial year, differ from those for the current financial year 2025-26. Tired of too many ads? Remove Ads Income tax slabs in new tax regime for ITR filing FY 2024-25 (AY 2025-26) Income tax slabs in new tax regime FY 2024-25 (AY 2025-26) Income slabs (In Rs) Income Tax Rate (In %) 0-3,00,000 0 3,00,001-7,00,000 5 7,00,001-10,00,000 10 10,00,001-12,00,000 15 12,00,001-15,00,000 20 15,00,001 and above 30 Tired of too many ads? Remove Ads Income tax slabs in old tax regime for ITR filing FY 2024-25 (AY 2025-26) Income tax slabs for individuals aged below 60 years Income slabs (In Rs) Income Tax Rate (In %) 0-2,50,000 0 2,50,001-5,00,000 5 5,00,001-10,00,000 20 10,00,001 and above 30 Income tax slabs for individuals aged above 60 years below 80 years Income slabs (In Rs) Income Tax Rate (In %) 0-3,00,000 0 3,00,001-5,00,000 5 5,00,001-10,00,000 20 10,00,001 and above 30 Income tax slabs for individuals aged above 80 years Income slabs (In Rs) Income Tax Rate (In %) 0-5,00,000 0 5,00,001-10,00,000 20 10,00,001 and above 30 Things to keep in mind while filing ITR The income tax return filing for FY 2024-25 (AY 2025-26) is upon us. However, many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime , which is necessary to calculate their tax liability. This is because the income tax slabs for FY 2024-25 (AY 2025-26), i.e., for the previous financial year, differ from those for the current financial year filing an income tax return for AY 2025-26, a taxpayer has to use the income tax slabs for the FY 2024-25. A taxpayer who files ITR now for FY 2024-25 will not be able to claim a tax rebate under section 87A on net taxable income up to Rs 12 lakh, which was announced in Budget 2025. This is because this tax rebate is applicable on incomes earned in current financial year between April 1, 2025, and March 31, 2026, i.e., for FY 2025-26. However, under the new tax regime, he can still claim a tax rebate under section 87A on net taxable income up to Rs 7 lakh while filing ITR. Similarly, the income tax slabs announced in Budget 2025 wont be applicable when you file ITR but the older Wealth Online provides you a ready reference of the income tax slabs for FY 2024-25 (AY 2025-26) under the new and old tax are the income tax slabs for FY 2024-25 (AY 2025-26) that will help you calculate your income tax liability under the new tax income tax slabs under the old tax regime depend on the taxpayer's age in FY 2024-25, i.e., between April 1, 2024, and March 31, date to file ITR extended for certain taxpayers: The Income Tax Department has extended the deadline to file ITR for FY 2024-25 (AY 2025-26) from July 31, 2025, to September 15, 2025. This ITR filing deadline extension applies to salaried employees, individuals, and other taxpayers whose accounts are not required to be tax regime option is available till this date: If you are planning to opt for the old tax regime while filing ITR for FY 2024-25 (AY 2025-26), then ensure that your income tax return is filed before the due date, i.e., on or before September 15, is because the new tax regime is the default tax regime. If the ITR is filed after the expiry of the due date, then a belated ITR can be filed under the new tax regime standard deduction, NPS employer's contribution: Under the new tax regime, a taxpayer can claim a higher standard deduction from salary income and higher deduction on employer's NPS 2024 hiked the standard deduction from salary income to Rs 75,000 under the new tax regime. Similarly, salaried employees can claim a deduction of up to 14% of their basic salary under Section 80CCD (2) if new tax regime is opted while filing
