Showing posts with label copper trading tips. Show all posts
INDIAN BENCHMARKS closes marginally higher… PSU banks gains
INDIAN EQUITY
BENCHMARKS
ended marginally higher led by gains in bank shares after Finance
Minister Arun Jaitley today said that the government was working towards
bringing in more professionalism in the functioning of banks and improving risk
management, amid the backdrop of the recent scams in some public sector banks.
·
Shares of Dr. Reddy's Laboratories ended
lower by 1.5% after report stated that the company was in talks with a US
regulator over allegations it violated packaging rules for some prescription
drugs sold there between 2008 and 2012.
·
Further, Zee Entertainment rose over a
percent as it is all set to replace United Spirits in CNX Nifty with effect
from the September 19.
The crucial resistance for Nifty is now seen at 7920
and above this 7945. Support for the immediate term is now placed at
7855 and next support will be 7780.
COMMODITY MARKET STRATEGY 21 AUGUST 2014
BASE METAL WRAP:
Copper prices are seen rebounding 8.4 percent as demand for the metal
used in pipes and wiring expands amid signs of tightening supplies, Standard
Chartered Plc forecasts.
Aluminum in London retreated from a six-month high as industrial metals
declined after worse-than-expected manufacturing data from China, the biggest
consumer.
ENERGY WRAP:
West Texas
Intermediate swung between gains and losses as U.S. crude stockpiles fell and a
measure of China’s manufacturing missed estimates. Brent was steady in London.
PRECIOUS METAL WRAP:
Gold fell for a fifth
day, poised for the longest slump since June, as minutes of the Federal
Reserve’s last meeting signaled that policy makers may increase borrowing costs
earlier than expected. Platinum headed for the longest losing run in 27 years.
GLOBAL EVENTS TO WATCH:
HSBC
Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash
Manufacturing PMI, Retail Sales m/m, Unemployment Claims, Flash Manufacturing
PMI, Philly Fed Manufacturing Index, Existing Home Sales, CB Leading Index m/m,
Natural Gas Storage, Jackson Hole Symposium.
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COMMODITY MARKET STRATEGY 20 AUGUST 2014
BASE METAL WRAP: Aluminium and zinc rose in London
as a jump in home building fueled speculation that demand will
accelerate in the U.S., the world’s second-biggest consumer of
industrial metals.
ENERGY WRAP: West Texas
Intermediate swung between gains and losses amid speculation that crude
and fuel inventories fell 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 after retreating for three days on
signs that the U.S. recovery is gathering momentum without generating
higher consumer prices. Platinum traded near a two-month low.
GLOBAL EVENTS TO WATCH:
RBA Gov Stevens Speaks, Trade Balance, All Industries Activity m/m, MPC
Asset Purchase Facility Votes, MPC Official Bank Rate Votes, Wholesale
Sales m/m, Crude Oil Inventories, FOMC Meeting Minutes.
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INDIAN BENCHMARK open flat after a day of closing at a fresh record high.
INDIAN BENCHMARK open flat after a day of closing at a fresh record
high. Shares of Eros International Media touched 33-month
high of Rs 249.80, up as much as 9.6 percent after the company's on-demand
entertainment portal ErosNow has acquired the worldwide rights of popular Zee
TV shows.
FURTHER, Just Dial rose over 3%,
after the company's board approved increasing the shareholding limit of foreign
institutional investors in the company to 75% from 49% . Glenmark
Pharmaceuticals announced the discovery and initiation of IND enabling studies
of a novel clinical development candidate, GBR 1302, a HER2xCD3 bispecific
antibody.
Trend in FII flows: The FIIs
were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs
were net sellers of Rs. 262cr, as per the provisional figures released by
the NSE.
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INDIAN BENCHMARK opened on a flat note after two-day strong rally.
INDIAN BENCHMARK opened on a flat note after two-day strong rally. The
data coming in as of yesterday is not really encouraging. Consumer inflation in
July rose to a two-month high. July CPI inflation has increased to 7.96% as
compared to 7.46% mom. IIP for June came in at a lower-than-expected 3.7% as
against the revised May 2014 level of 5%.
FURTHER, BHEL has slipped 5.4% after
a sharp 58% year-on-year drop in its net profit at Rs 194 crore for the quarter
ended June 30, 2014 (Q1), mainly due to decline in sales from power and
industry segments. Sun Pharmaceutical Industries Ltd reported net sales /
Income from operations at Rs. 3,927 crores, a growth of 13% over same quarter
last year.
Trend in FII flows: The FIIs
were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs
were net sellers of Rs. 39cr, as per the provisional figures released by
the NSE.
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TOP CORPORATE NEWS
·
Axis, Union Bank among 5 new
entrants to UK banking space
Two banks
from India Axis Bank and Union Bank are among the five new entities authorized
to do banking business in the UK during the last fiscal, as per latest
statistics released by the British regulators.
·
ONGC drops on buzz government may
offload 5-10% stake
ONGC lost 4.11% on
reports the government is planning to sell a 5 to 10% stake in state-run oil
& gas exploration firm.
·
Cairn India drops along with crude
oil price
Cairn India
lost 1.89% as oil prices traded lower on reports that the militant insurgency
hasn't spread to Iraq's south, the source of more than three-quarters of its
oil output.
·
Siemens bags order worth Rs 52
crore from NTPC
Siemens has
bagged an order worth Rs 52 crore from NTPC for supply of Distributed Control
System to their power plant in Bihar.
