Gold prices tumbled to as low as $3,260 during Wednesday’s trading session, reflecting a decline of 3.6% over Tuesday’s closing price.

Total revenue rose 6% year over year to $15.06 billion and surpassed an analyst estimate of $14.71 billion, led by higher net revenues in Global Banking & Markets but partially offset by slightly lower net revenues in Asset & Wealth Management.

The pace of FPI selling had eased in March as foreign inflows picked up in the last week of the month. This helped bring down net outflows in March to Rs 3,973 crore, a significant improvement compared to net selling of Rs 34,574 crore in February.

FPIs had fuelled the bull run in the stock market, barring the latest sharp slump. As per definition, Foreign Portfolio Investment (FPI) involves an investor buying foreign financial assets.

Walker forecasted a substantial depreciation of the U.S. dollar, predicting a decline of at least 10% as the American economy slows down. He pointed out that historically, economic downturns in the U.S. have led to a weaker dollar, which, in turn, could benefit emerging markets, particularly in Asia.

Asian equities mostly declined following Trump's announcement of 25% tariffs on steel and aluminium imports, alongside concerns over inflation and weaker-than-expected US job growth, impacting global markets and commodity-linked currencies.

The move will further expand trading opportunities for investors worldwide, enabling them to react to global macroeconomic events as they are happening, manage risk more effectively, and adjust positions around the clock.

India and the United States have a significant trade partnership; the US is India's largest export destination absorbing about 18% of India's merchandise exports. Export product focus is electronics, pearls, pharmaceuticals, oil products and automobiles but with a focus on services.

Brent was 45 cents or 0.7% higher at 64.45 dollars a barrel while US crude was up by 39 cents at 58.20 dollars a barrel
 

All sectoral indices were in the negative terrain with Nifty PSU bank falling by 3.2%, metal by 2.2%, auto by 1.7% and FMCG by 0.8%