Showing posts with label Base Metal. Show all posts
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.
