Showing posts with label Base Metal. Show all posts
Rupee trading weak at 61.41
By : Simran Shah
The rupee was trading a tad weak at 61.41 against the dollar at 11.25 a.m. local time.
The rupee opened 15 paise lower at 61.51 per dollar against the previous close of 61.36 on dollar buying from importers and gains in the American dollar overseas.
The domestic unit hovered in the range of 61.40 and 61.51 in the morning trade.
The US dollar touched seven-year peak versus the yen on Monday as markets basked in the afterglow of the Bank of Japan's surprise stimulus push and looked forward to at least a hint of fresh action from European policy makers this week.
Forex dealers said besides the dollar’s gains against other currencies in the global market, increased demand for the American unit from importers weighed on the rupee but surging domestic equity market, capped the fall.
The rupee had gained nine paise to close at 61.36 against the dollar in the previous session on Friday.
Call rates, bond yields
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, opened higher at 7.90 per cent from the previous close of 7.10 per cent.
Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, softened a tad to 8.26 per cent from the previous close of 8.27 per cent. Prices of the bond opened higher at ₹100.90 from the previous close of ₹100.78.
TOP CORPORATE NEWS 09 September 2014
By : Simran Shah
·
Apollo Tyres at record high, to
set up new plant in Hungary
Shares of
Apollo Tyres is setting up a new plant in Hungary at an investment of Rs 3,450
crore and the investment aid given by the country's government has been cleared
by European Commission.
·
Tyre stocks gain as weak rubber,
oil prices to boost margins
Shares of
tyre companies were up 1-3% as lower raw material costs on account of weak
natural rubber and declining crude oil prices would boost margins going
forward.
·
Shares of five new F&O
entrants gain
Share prices of five new
entrants to the future and options (F&O) segment gained. NSE through a
circular said that F&O contracts on Eicher Motors, Motherson Sumi, SKS
Microfinance, Mindtree and TVS Motor would be available starting September 10,
2014.
·
Indusind Bank expands presence
across New Delhi
Indusind
Bank Ltd has opened a new branch across New Delhi. The Bank plans to further
strengthen its presence and customer reach in the country’s capital with more
branches in the coming quarters.
COMMODITY MARKET STRATEGY 09 SEPT. 2014
By : Simran Shah
BASE METAL WRAP:
Nickel lead industrial
metals lower as the dollar climbed, curbing demand for commodities as an
investment. Copper prices surged on Monday on solid trade data from China.
ENERGY WRAP:
West Texas Intermediate
crude rose for the first time in four days before stockpile data that will
signal the strength of fuel demand in the U.S., the world’s biggest oil
consumer. Brent was steady in London.
PRECIOUS METAL WRAP:
Gold traded near a
three-month low as the dollar advanced on speculation the Federal Reserve will
increase interest rates next year, curbing demand for an alternative
investment. Platinum fell to the lowest since April.
GLOBAL EVENTS TO WATCH:
NAB Business Confidence, Manufacturing
Production m/m, BOE Gov Carney Speaks, NFIB Small Business Index, JOLTS Job
Openings, FOMC Member Tarullo Speaks
COMMODITY
MARKET LEVEL
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BULLION COMMODITY |
AGRI COMMODITY |
CS COPPER (NOVEMBER) OVERVIEW:
TREND
BEARISH
SUP1:424
SUP2:420
RESIST1:432
RESIST2:438
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM
+917316790000
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CS CHANA (SEPTEMBER))
OVERVIEW:
TREND BEARISH
SUP1:2745
SUP2:2695
RESIST1:2870
RESIST2:2950
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
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CS CRUDE (SEPTEMBER) OVERVIEW:
TREND
BEARISH
SUP1:5550
SUP2:5490
RESIST1:5700
RESIST2:5740
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM
+917316790000
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CS JEERA
(SEPTEMBER) OVERVIEW:
TREND BEARISH
SUP1:10920
SUP2:10675
RESIST1:11100
RESIST2:11340
TRADING STRATEGY: SELL ON
RISE
WWW.CAPITALSTARS.COM
+917316790000
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CS GOLD (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:27020
SUP2:26550
RESIST1:27480
RESIST2:27640
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM
+917316790000
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CS TURMERIC (SEPTEMBER)
OVERVIEW:
TREND CONSOLIDATE
SUP1:6310
SUP2:6164
RESIST1:6484
RESIST2:6820
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
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CS SILVER (DECEMBER) OVERVIEW:
TREND BEARISH
SUP1:41200
SUP2:40500
RESIST1:42450
RESIST2:42950
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM
+917316790000
|
CS
SOYABEAN (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:3080
SUP2:2950
RESIST1:3280
RESIST2:3370
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM
+917316790000
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COMMODITY MARKET STRATEGY 04 SEPTEMBER 2014
By : Simran Shah
BASE METAL WRAP: Nickel climbed to the
highest in almost four weeks after a Philippine lawmaker filed a bill to require
all mined minerals to be processed before export.
ENERGY WRAP: Natural gas prices
edged lower on Wednesday after weather forecasting models continued to call for
milder temperatures to move across the U.S. this weekend, which should cut into
the need for air conditioning and thus reduce demand for the commodity at the
nation's thermal power plants. Crude oil futures rebounded from the previous
session's steep declines on Wednesday, after Kiev said it has reached a deal
with Russia for a ceasefire in eastern Ukraine.
PRECIOUS METAL WRAP: Gold advanced for a
second day on speculation that prices near the lowest level since June may
encourage purchases as investors assessed tensions in Ukraine and the outlook
for higher U.S. borrowing costs.
GLOBAL EVENTS TO WATCH: Retail Sales m/m,
Trade Balance, Monetary Policy Statement, German Factory Orders m/m, BOJ Press
Conference, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement,
Challenger Job Cuts y/y, Minimum Bid Rate, ADP Non-Farm Employment Change,
Trade Balance, ECB Press Conference, Trade Balance, Unemployment Claims,
Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q, Final Services
PMI, ISM Non-Manufacturing PMI, Natural Gas Storage, Crude Oil Inventories,
FOMC Member Mester Speaks.
TOP CORPORATE NEWS 01 SEPTEMBER 2014
By : Simran Shah
• Maruti at new high, Aug sales ride on Celerio, Dzire, Ritz
Shares of Maruti Suzuki touched a new high, up 3 percent intraday on strong growth in August sales numbers boosted by compact cars segment. India's largest car maker sold 1,10,776 lakh units in August, up 27 percent compared to 87,323 units in same period last year and up 9 percent compared to 1.01 lakh units in previous month.
• IRB Infrastructure falls after Citi downgrade
Shares of IRB Infrastructure Developers Ltd fall after Citigroup downgraded the stock to sell from buy.
• M&M sold 35,175 units in August
M&M has announced that it has sold 35,175 units during August 2014, as against 37,897 units during August 2013. The company's domestic sales was at 3,145 units.
• TVS Motor Company August 2014 sales grows by 46%
TVS Motor Company recorded 46% growth in sales during the month of August 2014, with total sales increasing from 155,532 units recorded in the month of August 2013 to 227,482 units in the month of August 2014.
Shares of Maruti Suzuki touched a new high, up 3 percent intraday on strong growth in August sales numbers boosted by compact cars segment. India's largest car maker sold 1,10,776 lakh units in August, up 27 percent compared to 87,323 units in same period last year and up 9 percent compared to 1.01 lakh units in previous month.
• IRB Infrastructure falls after Citi downgrade
Shares of IRB Infrastructure Developers Ltd fall after Citigroup downgraded the stock to sell from buy.
• M&M sold 35,175 units in August
M&M has announced that it has sold 35,175 units during August 2014, as against 37,897 units during August 2013. The company's domestic sales was at 3,145 units.
• TVS Motor Company August 2014 sales grows by 46%
TVS Motor Company recorded 46% growth in sales during the month of August 2014, with total sales increasing from 155,532 units recorded in the month of August 2013 to 227,482 units in the month of August 2014.
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TOP CORPORATE NEWS 28 August 2014
By : Simran Shah
• Tata Motors enters Algeria with a range of passenger cars
Tata Motors in association with SPA Elsecom has setup dealerships at Algiers and Oran, with further plans underway to establish 10 additional sales and service centers, to cover important regions, by the end of this year.
• RIL to save $450 mn/yr by importing ethane from US
Reliance Industries will save about USD 450 million annually by importing 1.5 million tons ethane from US for its petrochemical plant. Imported Ethane will substitute its current propane imports and a portion of naphtha used for ethylene production.
• Adani buys Australia coal mine royalty rights from Linc
Adani Enterprises has agreed to pay Australian dollar 155 million (USD 145 million) to Linc Energy to buy out the Australian firm's rights to future royalties from Adani's huge.
• Tata Comm up on reports of foreign brokerage
Shares of Tata Communications gained over 4%, touching, on reports that a foreign brokerage has re-initiated coverage on the stock with a buy rating. The company is back on growth and profitability track and its core business turnaround will be led by enterprise data.
Tata Motors in association with SPA Elsecom has setup dealerships at Algiers and Oran, with further plans underway to establish 10 additional sales and service centers, to cover important regions, by the end of this year.
• RIL to save $450 mn/yr by importing ethane from US
Reliance Industries will save about USD 450 million annually by importing 1.5 million tons ethane from US for its petrochemical plant. Imported Ethane will substitute its current propane imports and a portion of naphtha used for ethylene production.
• Adani buys Australia coal mine royalty rights from Linc
Adani Enterprises has agreed to pay Australian dollar 155 million (USD 145 million) to Linc Energy to buy out the Australian firm's rights to future royalties from Adani's huge.
• Tata Comm up on reports of foreign brokerage
Shares of Tata Communications gained over 4%, touching, on reports that a foreign brokerage has re-initiated coverage on the stock with a buy rating. The company is back on growth and profitability track and its core business turnaround will be led by enterprise data.
MORNING MAIL 28 August 2014
By : Simran Shah
INDIAN BENCHMARK open marginally higher amid firm global cues. Further,
markets are likely to remain volatile in the latter half of the trading session
with expiry of August derivative contracts today.
FURTHER, Piramal Enterprises is
rejigging its research and development activities with a focus on molecules
that are at an advanced stage of development. DLF will continue to be under
pressure after the Supreme Court on Wednesday directed DLF to deposit Rs 630
crore in the registry within three months.
Trend in FII flows: The FIIs
were net buyers of Rs 192cr in the cash segment on Wednesday while the
DIIs were net sellers of Rs. 236cr, as per the provisional figures
released by the NSE.
COMMODITY MARKET STRATEGY 27 August 2014
By : Simran Shah
BASE METAL WRAP:
Aluminium traded near an 18-month high on speculation demand is rising
amid signs a recovery is gathering pace in the U.S. and before data forecast to
show the country’s economy expanded for the second quarter.
ENERGY WRAP: West Texas
Intermediate traded near a three-day high before a government report forecast
to show crude stockpiles dropped for a second week in the U.S., the world’s
biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold held below $1,300
an ounce as investors weighed a strengthening U.S. economy and dollar against
signs of easing tensions around the world.
GLOBAL EVENTS TO WATCH: Crude
Oil Inventories.
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INDIAN BENCHMARKS down …Late trade sell-off on SC order
By : Simran Shah
INDIAN EQUITY
BENCHMARKS hit fresh record highs early today ended flat amid selling pressure
in metal and power stocks after the Supreme Court said that guidelines were
breached in coal block allocations during the UPA government and that the terms
of allotment, going as far back as 1993, were themselves illegal.
·
Alstom T&D gained 5.5 percent on
joint venture bagging order worth Rs 3,250 crore.
·
Further, Lakshmi Vilas Bank has
announced that the Bank opened its Rights Issue for an amount of Rs409.79
crores on August 08, 2014. The issue remained open for 15 days and closed on
August 22, 2014.
The crucial resistance for Nifty is now seen at 7970
and above this 7995. Support for the immediate term is now placed at
7895 and next support will be 7855.
COMMODITY MARKET STRATEGY 22 AUGUST 2014
By : Simran Shah
BASE METAL WRAP:
Aluminium buyers in Japan, Asia’s largest importer, are set to agree on
a record quarterly fee after lower output from Brazil deepened a global
deficit, said three executives who will start negotiations next week. Copper in
London rose to a two-week high, heading for the first weekly advance in a month
on stronger-than-expected U.S. homes sales and before a speech by Federal
Reserve Chair Janet Yellen.
ENERGY WRAP: West Texas Intermediate
crude headed for a fifth weekly decline, the longest losing streak in nine
months, amid rising U.S. fuel supplies and signs of a slowing economy in China.
Brent was steady in London.
PRECIOUS METAL WRAP: Gold traded near a
two-month low on speculation that U.S. interest rates are set to increase as
investors awaited remarks from Federal Reserve Chair Janet Yellen at a meeting
of central bankers. Silver headed for a sixth week of losses in the longest
slump in more than a yea
GLOBAL EVENTS TO WATCH: Core CPI m/m, Core
Retail Sales m/m, Fed Chair Yellen Speaks, Jackson Hole Symposium.
Bullions Commodity Market
Strategy 22ND AUGUST 2014
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CS
COPPER (AUG) OVERVIEW:
TREND
CONSOLIDATE
SUP1:421
SUP2:415
RESIST1:429
RESIST2:433
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
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CS CRUDE
(SEPTEMBER) OVERVIEW:
TREND
BEARISH
SUP1:5640
SUP2:5550
RESIST1:5770
RESIST2:5850
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
|
CS GOLD (OCTOBER) OVERVIEW:
TREND
BEARISH
SUP1:27600
SUP2:27350
RESIST1:27950
RESIST2:28150
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
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CS SILVER (SEPTEMBER)
OVERVIEW:
TREND CONSOLIDATE
SUP1:41750
SUP2:41300
RESIST1:42500
RESIST2:42800
TRADING
STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
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Agri Commodity Market Strategy
22ND AUGUST 2014
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CS
CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2900
SUP2:2870
RESIST1:3000
RESIST2:3020
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
|
CS JEERA
(SEPTEMBER) OVERVIEW:
TREND
CONSOLIDATE
SUP1:11150
SUP2:10920
RESIST1:11450
RESIST2:11500
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
|
CS
TURMERIC (SEPTEMBER) OVERVIEW:
TREND
BULLISH
SUP1:6450
SUP2:6310
RESIST1:6670
RESIST2:6780
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
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CS SOYABEAN (OCTOBER)
OVERVIEW:
TREND BEARISH
SUP1:3350
SUP2:3260
RESIST1:3490
RESIST2:3550
TRADING STRATEGY: SELL ON
RISE
WWW.CAPITALSTARS.COM +917316790000
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