Monday, 29 June 2015

Commodity Market Update (Gold)

Precious metals on Comex rallying after emergency bailout talks between Greece and it’s international creditors broke down. Gold future prices are trading $1178 an ounce, higher by five dollars after making a high of $1187 while Silver future prices are trading at $15.78 an ounce, up by five cents after making a high of $15.99. On Nymex, WTI Crude Oil prices dropped sharply as Greece looked set to default on its debt repayment this week which dampening demand of the crude oil. Crude Oil is selling at $58.10 per barrel, lower by more than two-and-half percent. Natural Gas is trading at $2.78 per mmBtu, up by half-a percent. On LME, all the base metals are trading in the red on fear of the global growth outlook. Nickel sinks most to six-year low to trade at $11845 per tonne, fell by almost five percent while Copper is currently quoting at $5767 per tonne, down by 25 points. Lead and Zinc prices are trading at $1765 and $2013 per tonne, lower by 16 and 13 points respectively.

Closing Summary, Market Synopsis: 29 th June, 2015

Markets end lower amid fears of Grexit from euro: Markets ended lower on Monday, amid weak global cues, after Greece and international creditors which failed to come to an agreement over debt payments raised fears of Greece's exit from the euro zone. The 30-share Sensex ended down 167 points at 27,645 and the Nifty ended down 63 points at 8,306. Markets slumped in initial trades with the Sensex plunging over 500 points in intra-day trade following the debt crisis in Europe. However, markets staged marginal recovery in the latter half of the trading session led by FMCG shares. Further, reports suggest that the Greek government on Monday confirmed that banks will be closed all week, after a decision by the European Central Bank (ECB) not to extend emergency funding.

Morning Summary, Market Synopsis: 29 th June, 2015

Market Opens down on Greece worries: Markets have kick-started the week in the red tracking cues from the Asian peers after Greek debt crisis worsened and Greece’s exit from the Euro Zone seemed inevitable. Over the weekend, Greece and its international creditors yet again failed to sign a truce to avert a default. The Greek drama is likely to dictate the trend on the bourses this week.
At the opening bell, the Sensex dropped 520 points or 1.8% at 27,292 levels while Nifty was at 8,222 levels, shedding 160 points or 1.82%. The rupee opened at 63.84, depreciating by 20 paise against its previous close of 63.64. Meanwhile, Greek banks and stock exchange would be shut on Monday.

Friday, 26 June 2015

Commodity Market Update (Copper)

Gold and Silver prices are trading in a tight range. Gold is trading at 1172.80 while Silver is trading at 15.77 an ounce, as we write this. The Greece factor had driven prices in short term and market is likely to follow it for the day. The very short term bias is negative and we can see prices moving down in near term. Base metals on LME are in red with Nickel leading the laggards with a decline of 1.45% at 12530.00 and Copper is at 5746.0, -0.24%. Other metals are also lower and are likely to continue the prolong decline in coming hours too. Crude Oil and Natural Gas prices on NYM is at 59.49 and 2.81 respectively. Crude Oil prices are down by 0.28% and NG is lower by 1.26% at the time of writing this. Intraday bias for Crude Oil is neutral while that for NG is negative.
No major economic releases from US may keep market subdued.

Closing Summary, Market Synopsis: 26th June, 2015

World stocks fall before crunch weekend for Greece; Nifty ends below 8400: Markets have closed the session on a lower note tracking weakness among banks, capital goods and metal shares. Further, global markets are also witnessing weak trend as Greece and its international creditors yet again failed to sign a truce. The Sensex ended down 84 points at 27,812 and Nifty closed 17 points down at 8,381. On the currency front, the rupee continued to trade flat against the US dollar at 63.60 as gains in the US currency overseas capped upside gains. Meanwhile, RBI Governor Raghuram Rajan has asked central banks from across the world to define "new rules of the game" as he warned that the global economy may be slipping into problems similar to the Great Depression of the 1930s.

Morning Summary, Market Synopsis: 26th June, 2015

Flat start!! Nifty Hovers around 8400: Benchmark indices opened the first session of the July F&O series in red tracking the cues from global markets as Greece and its international creditors yet again failed to sign a truce. he 30- share Sensex opened at 27,886 levels, down by 18 points while the 50-share Nifty, which yesterday closed just shy of 8,400 mark, commenced the session at 8,395 levels, down by 3 points. On the currency front, the rupee opened a tad bit lower at 63.64 against its previous close of 63.62.

Thursday, 25 June 2015

Closing Summary, Market Synopsis: 25th June, 2015

Markets resume winning streak; Nifty ends tad below 8400: Markets have closed the session on a higher note with capital goods and oil shares leading the gains. Ignoring Greek woes, the sentiment was boosted as earlier in the day Prime Minister Narendra Modi launched smart cities, housing for all and urban rejuvenation schemes for Asia's third largest economy. Also, the south-west monsoon has been above normal so far in June, stoking hopes the central bank will cut rates in October than in 2016 as anticipated earlier after delivering three cuts of 25 basis points each in 2015 so far. The Sensex closed up by 166 points at 27,896 and the Nifty gained 37 points at 8,398 levels. On the currency front, the Indian rupee has marginally strengthened against the greenback to 63.56 levels against its previous close at 63.59 levels.