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Silver prices Thursday surged to an all-time high, just shy of Rs 90,000 a kg, paced by an increase in industrial applications of the precious metal amid shortening odds of an imminent reduction in policy rates by the US Federal Reserve. Prices climbed more than Rs 2,000, or nearly 4%, through the course of a single trading session to end at Rs 87,476 a kg. Within a month, silver prices have climbed more than 5%, resulting in annualised gains of 60%, with analysts attributing increasing industrial demand of silver from the makers of electric vehicles (EV) and photovoltaic solar panels. High prices have sparked selling of household silver in Mumbai’s Zaveri Bazaar, said Prithviraj Kothari, MD, RiddiSiddhi Bullions. “People are selling bars, coins and silver utensils to get cash in hand. Also, after a long time, silver is witnessing such a bull run and consumers want to make the most of it,” said Kothari.

As Shiba Inu (SHIB) eyes a potential push higher following a recent bullish pattern breakout and amid positive news for its DeFi ecosystem, early investors are moving funds to a new token called 99Bitcoins (99BTC) as they seek 987% profits.

Stocks that traded heavily or had substantial price changes on Thursday: Walmart, Canada Goose rise; Deere, Freeport-McMoRan fall

Japan has reported that its economy contracted at an annual rate of 2% in the first quarter of the year, as spending and exports declined

Walmart is reporting another quarter of strong results as its low prices pull in shoppers scouring for discounts with inflation stubbornly high

Red Sea crisis has led to an increase in voyage span by 15-20 days, in addition to higher freight rates," said Desai. However, the capacity liners' readiness to expand container capacity—owing to healthy profitability by chartering additional vessels, cascading capacity from other regions, and accelerating fleet renewal—bodes well for balancing the increased transit times. The impact on cargo will primarily affect food grains and other perishable items, along with freight-sensitive or low-value cargo, which is estimated at 10-15% of container volumes.

The Dow Jones Industrial Average topped the 40,000 level for the first time, as U.S. stocks drift around their records

Warren Buffett’s Berkshire Hathaway is disclosing a new $7 billion stake in fellow insurer Chubb

. “India, I think, is moving forward quickly and therefore I think has a very good chance with our brand to grow faster than China," he said. Drew said more Western companies will eventually invest in India, with the country benefitting from the West's ‘China plus one’ strategy, referring to plans to avoid investing only in China and diversify businesses into other countries. “I would also like to think that it is due to the democracy (in India) and also the availability of not only cheap but educated labour," he said in an interview.

Leading trading firm QCP Capital has expressed optimism about Bitcoin’s price momentum, forecasting a potential return to the highs of $74,000.

Walmart Inc. reported another quarter of strong quarterly results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high.

Sectorally, buying was seen in realty, consumer durables and capital goods stocks while selling was available in utilities.

special court has dismissed a plea by the Metals and Minerals Trading Corporation of India (MMTC) seeking the registration of an FIR by the CBI in connection with alleged corruption in the import of coal from an Australian company at inflated rates in 2009, officials said Thursday. The PSU had sought directions to the CBI to register an FIR in matter which is now being investigated by the central probe agency by registering a preliminary enquiry. A preliminary enquiry is the first step by the agency to ascertain if there is prima facie enough material in the allegations to warrant a full-fledged investigation through an FIR or a regular case, they said. The plea was dismissed by the special court which said it does not have power to direct the CBI to register an FIR and investigate the case.

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In a stock exchange notice today (16 May), the £2.2bn trust committed to invest a portion of its future cash flows from distributions on its own shares when these are trading at a significant discount to NAV, with effect from 1 June. Allocation to buybacks will be based on the adjusted net portfolio cashflow (ANPC), which is defined as portfolio distributions less investment calls and ongoing charges, as well as near term cash outflows, including debt principal repayments due in the next six months.  The ANPC will be assessed at the end of each of PIP's financial quarters and will be ...

Crypto custody firm Bakkt expects a significant increase in the involvement of institutional investors in the cryptocurrency trading market.

Shares of Sanofi India Ltd.(up 2.69 per cent), Torrent Pharmaceuticals Ltd.(up 1.93 per cent), Natco Pharma Ltd.(up 1.63 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.51 per cent) and Lupin Ltd.(up 1.46 per cent) ended the day as top gainers in the pack.

Shares of Oberoi Realty Ltd.(up 8.71 per cent), Sunteck Realty Ltd.(up 4.45 per cent), Brigade Enterprises Ltd.(up 1.93 per cent), DLF Ltd.(up 1.92 per cent) and Phoenix Mills Ltd.(up 1.44 per cent) ended the day as top gainers in the pack.

Nifty Bank bounced back on Thursday but failed to hold on to the 48,000 mark towards the close of the trade. The index rose 289 points to close at 47,977, while the Nifty50 rallied over 200 points to close above 22,400.

Domestic benchmark index NSE Nifty ended 203.3 points up at 22403.85, while the BSE Sensex closed 676.69 points up at 73663.72.

Chinese electric vehicles (EVs) have sent a scare in the US and Europe. Many have predicted doomsday scenarios. The Alliance for American Manufacturing has said that government subsidized Chinese EVs “could end up being an extinction-level event for the U.S. auto sector". Earlier this year, Tesla CEO Elon Musk told industry analysts Chinese EVs are so good that without trade barriers, “they will pretty much demolish most other car companies in the world.” The US has decided to shield itself from the Chinese EV onslaught. President Joe Biden has announced a series of new and increased tariffs on several Chinese-made goods. He quadrupled the tariff on electric vehicles made in China from 25% to 100%. Chinese lithium-ion batteries for electric cars will now face a 25% tariff, up from 7.5%. Since many European car makers manufacture in China and sell in Europe, they are appealing against similar tariffs on Chinese EVs. Also Read: China may dump EVs, batteries into India with higher US tariffs: GTRI