On Comex, precious metals are muted as traders are waiting for the US first-quarter GDP data later in the day. Gold future actively-traded contract is trading at $1189 per troy oz, almost flat while Silver future prices are trading at $16.70 per troy oz, down by two cents only. On Nymex, Crude Oil future prices rallied over one percent to trade at $58.30 a bbl, after yesterday’s US inventory fell more than expected last week. Natural Gas is trading on flat note at $2.70 per mmBtu after yesterday’s plunge. On LME, all the base metals are trading in the red. Copper prices are trading at $6096 per tonne, down by 12 dollars while Nickel is selling now at $12750 per tonnne, lower by 50 points. Lead and Zinc are also moving in the same manner to trade at $2210 and $1975 per tonne, down by 23 dollars and 17 dollars respectively.
Friday, 29 May 2015
Markets finish higher on first day of June F&O series: Markets finished the first day of the June F&O series on a strong note led by a stellar rally in the auto and banking stocks on hopes of rate cut at RBI’s policy meet due on June 2. Smart recovery in the rupee further boosted the sentiments. The Sensex zoomed 322 points to finish at 27,828 levels while the Nifty surged 115 points to close at 8,434 mark. The rupee edged higher by 5 paise to 63.75 against the dollar at the Interbank Foreign Exchange due to increased selling of the US currency by exporters and banks.
Markets sustain strength; Sensex rallies around 200 points: The benchmark indices have rallied further, building on their early-morning gains, thanks to strength on the oil, banking and pharma counters. At 10.30 am, the Sensex was at 27,728, higher by 221 points or 0.8% and the Nifty was trading above its crucial psychological level of 8,350 at 8,389, up 70 points ahead of the GDP data for the first quarter of the current financial year due later in the day today. The rupee was flat in early trade on Friday. It opened at 63.81 a dollar against the previous day's closing value of 63.80 a dollar.
Thursday, 28 May 2015
Markets end lower on May F&O expiry: The markets had a sluggish closing on the last day of May derivatives series due to selling pressure in financials and pharma shares. The weakness in most Asian markets, muted corporate earnings and growing prospects that the Federal Reserve may raise interest rates led to cautiousness on the Street. The tepid close, however, masked the intra-day volatility that resulted from F&O rollover pressures. The Sensex oscillated in a range of around 300 points before ending at 27,506, lower by 58 points or 0.2% and Nifty settled at 8,319, down 16 points. The rupee staged a smart recovery, by 15 paise to 63.86, against the US dollar Thursday at the Interbank Foreign Exchange on fresh selling of the dollar by exporters. The rupee had weakened in the past three trading sessions. On the monsoons front, Skymet said that conditions are favorable for the onset of Southwest Monsoon in India. The private weather forecaster expects monsoons to hit Kerala around 30 May.
Precious metals on Comex are struggling near two-week’s low amid growing prospects that Federal Reserve is on track to raise interest rates. Gold future prices are trading at $1187 a troy ounce, up only one dollar while Silver prices are trading flat at $16.66 per troy ounce. On Nymex, Crude Oil future prices are trading at $57.65 a barrel, higher by 13 cents on bets for US supply drop. Natural Gas is trading at $2.82 per mmBtu, down by two cents ahead of weekly storage data. On LME, base metals pack is trading on mixed note ahead on US jobless claims data. Copper prices are currently quoting at $6095 per tonne, down two dollars while Nickel is trading at $12780 per tonne, lower by 90 dollars. Lead and Zinc are trading in green at $1973 and $2207, up by 19 dollars and 18 dollars respectively.
Nifty hovers around 8,350 ahead of May F&O expiry: Markets have started the session on a flat note with positive bias aided by global cues. Caution prevails on the bourses as investors remain wary ahead of today’s May Futures & Options (F&O) expiry. At 9:30 am, the Sensex was at 27,606, higher by 42 points or 0.2% and the Nifty was at 8,346, up 11 points. The Indian rupee has opened at Rs 63.93 a dollar today, up 8 paise over previous day's close. In the previous session, the currency closed at 64.01 a dollar, the lowest closing level since May 12. The dollar retained its strength sparked after remarks from Federal Reserve Chair Janet Yellen last Friday that she expected the central bank to raise rates this year as the US economy was on course to bounce back from a sluggish first quarter.
Wednesday, 27 May 2015
Nifty ends below 8,350 ahead of May F&O expiry: Markets have closed the session on a mixed note amid choppy trades as investors have turned cautious ahead of May F&O expiry, which is due tomorrow. Disappointing earnings from Tata Motors and Tech Mahindra was the major cause of weakness among the markets. However, buying demand among financials and oil shares limited the losses to a great extent. Meanwhile, sentiments further dampened on concerns surrounding US interest rate hike after US reported better than expected US economic data. The Sensex ended this session at 27,564.66, higher by 33.25 points or 0.12% and the Nifty settled below the crucial technical level of 8,350 at 8,335, down 5 points or 0.06%.
On Comex, precious metals are trading near two week’s low amid growing prospects that Federal Reserve will raise interest rates sooner or later. Gold future prices are trading at $1184 a troy ounce, down by 2.5 dollars while Silver is trading at $16.65 per troy ounce, lower by 10 cents. On Nymex, WTI Crude Oil prices are trying to rebound after yesterday’s plunge ahead of weekly US stockpiles data. Crude Oil is quoting at $58.25 a barrel, up by 22 cents. Natural Gas actively-traded contract is trading at $2.88 per mmBtu, higher by three cents with slightly positive bias. On LME, all the base metals are trading in red after yesterday’s industry data. Copper prices are currently quoting at $6090 per tonne, fell by 27 dollar while Nickel is trading at $12670 per tonne, down by 45 points. Lead and Zinc prices are also moving in tandem to trade at $1933 and $2167 per tonne, down 16 dollars and 19 dollars respectively.
Nifty trades below 8,300; Tech Mahindra slips 13%, Tata Motors down 5%: The markets have opened on a negative note, tracking weak cues from the global front. At 9.35 am, the Sensex was at 27,414, lower by 117 points or 0.4% and the Nifty was at 8,293, down 47 points. The broader markets are also witnessing selling pressure, with the mid-cap and small-cap indices shedding about 0.5% each at 10,577 and 11,108 respectively. The impending derivative expiry on Thursday is likely to add volatility to the market proceedings, given the rollovers from the ongoing May F&O series to the June series. The rupee has breached the 64 level in opening trades, down 7 paise to 64.05 a dollar from 63.98% in the previous session.
Tuesday, 26 May 2015
Markets have a soft closing; Nifty breaches 8,350: The markets declined for the second consecutive session due to weakness in index heavyweights such as ONGC, RIL, Tata Motors and ITC. The absence of fresh triggers, weak quarterly earnings from Corporate Inc, lingering Greece fiscal woes and the impending derivatives expiry seem to have dampened sentiments on Dalal Street. The Sensex ended this session at 27,531, lower by 112 points and the Nifty settled below the crucial technical level of 8,350 at 8339, down 31 points. Extending losses for the second straight day, the rupee depreciated 37 paise to 63.93 against the dollar at the Interbank Foreign Exchange market as the dollar firmed up overseas. The dollar's gains against other currencies overseas, increased demand for the dollar from importers and a lower opening in the domestic equity markets put pressure on the rupee.
On Comex, Precious metals tumbled as a broadly stronger US dollar dampened the appeal of these metals. Gold future prices are trading at $1194 a troy oz, down by 10 dollars while Silver future prices are trading at $16.77 per troy ounce, lower by 28 cents or more than one-and-half percent. On Nymex, WTI Crude Oil prices fell by 33 cents to trade at $59.39 a barrel as traders expecting that US shale oil producers could increase drilling activity. Natural Gas is trading at $2.84 per mmBtu, down almost five cents. On LME, all the base metals are trading in the red ahead of US economic data except Zinc. Copper prices are trading at $6148 a tonne, down half-a percent while Nickel is trading at $12655 per tonne, lower by 100 dollars. Lead prices are trading at $1931, down by 16 dollars while Zinc is trading at $2176, higher by five points with slightly positive bias
Monday, 25 May 2015
Markets ended lower; Sensex sinks more than 300 points: Markets have closed the session on a lower note weighed down by metal, capital goods and index heavyweights like ITC and HDFC. The Sensex ended at 27644, weaker by 313 points and the Nifty was at 8,370.25, down 88.70 points. However, the broader markets have outperformed the benchmark indices with CNX Mid-cap index ended flat and the Smallcap index is marginally lower. In the overseas markets, Asian shares got off to a lackluster start on Monday, after rising inflation and a hawkish tone from the US FederalReserve Chair rekindled expectations that the Fed is on track to hike interest rates. The rupee trading marginally weaker today, down 9 paise at 63.61 a dollar against a close of 63.52 on Friday on the back of sustained dollar buying by FIIs and weakness in local equities.
Friday, 22 May 2015
Markets end on a strong note amid volatile session: Benchmark indices have ended higher amid volatile trading session led by index heavyweight HDFC and capital goods shares. The mid-cap and small cap indices however under performed the benchmark indices to end flat. The Sensex ended at 27,957, higher by 148 points or 0.5% and the Nifty settled at 8,458, up 38 points in volatile session. The markets had touched their highest levels in a month, with the Sensex re-claiming the psychological 28,000 mark earlier in the trading session to touch an intra-day high of 28,071. Meanwhile, the southwest monsoon has reportedly advanced further and arrived over Sri Lanka. The private weather forecaster Skymet has said that Weather conditions favour the advancement of Southwest Monsoons, indicating its timely onset over Kerala.
Markets Open in green; SBI, ITC gain ahead of Q4 nos: Markets have commenced the trading session on a positive note tracking firm global cues. By 9:25, the 30-share Sensex was higher by 60 points at 27,869 and the Nifty gained 8 points at 8,429. However, the broader markets are outperforming the benchmark indices- BSE Mid-cap and Smallcap indices are up 0.2-0.4%. On the corporate earnings front ITC and State Bank of India (SBI) will announce their Q4 results today.The Indian rupee opened with marginal gain of 6 paise at 63.58 per dollar against previous close of 63.64. The US dollar weakens against the euro for the first time this week as investors were reluctant to enter new positions and as some US economic data disappoints. The dollar index is at 95.34 mark.
Thursday, 21 May 2015
Flat Opening; Tata Steel Dips 4% on poor numbers: Markets have commenced the trading session on a flat note tracking mixed global cues. By 9:25, the Sensex was higher by 66 points at 27,903 and the Nifty is quoting at 8,440, up 17 points. Asian stocks treaded water early on Thursday, with overnight Wall Street losses acting as a drag, while the dollar held to broad gains after minutes from the Federal Reserve's April minutes contained no major surprises. On the losing side, Tata Steel has slumped over 4%. Tata Steel, the country's oldest steel producer, reported a consolidated loss of Rs 5,674 crore in the March quarter due to a sharp fall in revenue and also because of a non-cash impairment of Rs 4,951 crore it took, most of it on Europe's long products division.
The Indian rupee gained in the early trade. It has opened higher by 9 paise at 63.73 per dollar versus 63.82 Wednesday. Dollar hit a three-week high against the euro, extending a rebound rally supported by European Central Bank plans to front-load its bond buying program in a move to keep interest rates low. The dollar index holds above the 95 mark.
Wednesday, 20 May 2015
On Comex, precious metals rebounded mildly after yesterday’s sharp fall. Gold future prices are trading at $1208 a troy ounce, up by two dollars while Silver future prices are quoting at $17.11 per troy ounce, higher by four cents. On Nymex, Crude Oil are trading at $59.04/barrel, rose by 55 cents or almost one percent on bets of US supply drop for which data is to be published later in the day. Natural Gas is now trading at $2.98 per mmBtu with little bit positive bias after yesterday’s plunge. On LME, all the base metals are trading in the red on back of stronger dollar against other currencies. Copper are currently quoting at $6209 per tonne, slumped to fresh three-week low while Zinc are trading at $2212 per tonne, down more than one percent, most among the pack. Nickel and Lead are also down by 105 dollars and 20 dollars respectively.
Markets have a firm start; Nifty reclaims 8,400: The markets have started the day's proceedings on a strong note amid the positive cues from the Asian front. At 9:20 am, the Sensex was at 27,813, stronger by 167 points or 0.6% and the Nifty was at 8,413, up 47 points. The broader markets are also equally strong, with the mid-cap and small-cap indices gaining around 0.6% each at 10,710 and 11,236 respectively. The rupee opened lower by 10 paise at 63.77 per dollar this morning as against 63.67 on Tuesday. The dollar continues to gain on unexpectedly better US April housing data.
Tuesday, 19 May 2015
On Comex, precious metals fell for the first time in six sessions ahead of US homeless data. Gold future prices are trading at $1221 per troy ounce, down by six-and-half dollars or half-a-percent while Silver future prices are quoting at $17.45 a troy ounce, lower by 28 cent or almost one-and-half percent. On Nymex, Crude Oil actively-traded contract are trading at $59.81 a barrel, down by 43 cents as traders looked ahead to fresh weekly information from US stockpiles of crude oil. Natural Gas are now trading at $3.05, rose by four cents. On LME, all the base metals are trading in red on the back of stronger dollar. Copper are currently quoting at $6276 per tonne, down 101 dollars while Nickel is trading at $13400 per tonne, down by 310 points, most among the packs. Lead and Zinc are also down by 19 dollars and 31 dollars respectively.
Markets end lower amid volatile trading session: The markets took a pause, amid a volatile session of trade, as they sought to digest the stupendous gains witnessed in the previous session. The rate-sensitives came under selling pressure after their recent gains. On the other hand, The IT index gained nearly 1% as the dollar rose to almost a one-week high against a basket of currencies, recovering from a four-month low. Snapping a 2-days rally, the Sensex ended at 27,645, lower by a modest 41 points and the Nifty settled at 8,365, down 8 points. The broader markets also ended on a listless, albeit a divergent note; the small-cap index gained 39 points, while the Midcap index shed 16 points.
Markets open marginally lower; financials weigh: Benchmark indices have snapped two-day winning streak and have opened flat with a negative bias weighed down by financials tracking mixed global cues as investors remain wary regarding Greece debt crises. At 9.25 AM, the Sensex is down 60 points at 27,627 and the Nifty is quoting at 8,352 mark down by 21 points. Asian shares edged down on Tuesday as worries over Greece's fiscal woes took some of the shine off Wall Street's record close, helping steer the dollar higher and undermining the euro. Fears of a Greek bankruptcy persisted even as the country's finance minister said on Monday that it was close to a deal with its lenders that would help it meet debt repayments next month. The Indian rupee opened with marginal loss of 8 paise at 63.79 per dollar against previous close of 63.71.
Monday, 18 May 2015
Precious metals on Comex have made a three-month high after a series of weak economic data. Gold futures prices are trading at $1229 per troy ounce, up by three-and-half dollars while Silver prices are quoting at $17.66 per troy ounce, higher by 10 cents. On Nymex, Crude Oil future prices are trading at $60.19 a barrel, rose by 50 cents because of concerns over global supply glut. Natural Gas is hovering around $2.99 per mmBtu, down almost three cents after Thursday’s sharp gain. On LME, all the base metals are trading in red except Nickel. Nickel edges higher by $60 to quote at $13925 per tonne. Leader of the pace Copper is currently quoting at $6390 per tonne, down 21 dollars while Aluminium and Zinc are trading at $1389 and $2285 per tonne, down 18 dollars and six dollar respectively.
Markets surge on monsoon, rate-cut hopes: Benchmark indices closed higher for second straight session supported by broad based rally among the front-liners on anticipation that RBI may slash the key policy rate in the upcoming monetary policy review on June 2, 2015. Further, well-timed monsoon forecast and slowdown in foreign funds outflows has lifted the trading sentiments. The 30-share Sensex ended 363 points higher at 27,687 and the 50-share Nifty gained 111 points to close at 8,374. The market breadth indicating the overall health of the market was positive. In overseas markets, European stocks edged higher on the back of some robust corporate earnings. Asian stocks were mixed.
Market opens on a Positive note; Nifty heads towards 8,300 levels: The benchmark indices have opened the week's proceedings on a healthy note despite the mixed set of cues from global front. At 9:20 am, the Sensex was at 27,448, higher by 124 points or 0.5% and the Nifty was just shy of the 8300 mark at 8,294, up 31 points. One would have to see if the the Nifty builds on its early gains or re-tests its crucial psychological level of 8250 in trade today. The Indian rupee opened with marginal gains of 6 paise at 63.45 per dollar on Monday versus 63.51 Friday. The dollar falls to a three-month low against the euro, as disappointing data on US domestic factory activity and consumer sentiment spurred doubts about the recovery in the US. The dollar index slips to the 93 levels.
Friday, 15 May 2015
Nifty ends above 8,250 led by financials: Benchmark indices ended firm led by a smart rally in the Index heavyweights on hopes of rate cut. The unlikely rate hike by the Federal Reserve coupled with calmer conditions in the bond market boosted the market sentiments. The 30-share Sensex gained 118 points to end at 27,324 and the 50-share Nifty climbed 38 points to close at 8,262. The market breadth indicating the overall health of the market was positive. In overseas markets, European stocks edged higher after overnight rally on Wall Street and further signs that stability was returning to bond markets after a recent rout. Asian stocks were mixed. The rupee is trading strong by five paise at 63.60 against the dollar tracking firm local equities amid sustained dollar selling by exporters.
Markets turn choppy; Tata Steel slumps over 2%: Markets have started the session on a marginally positive note tracking higher global cues. By 9:28, the Sensex was at 27,306, higher by 101 points and the Nifty is up at 8,258, up 34 points. Asian shares gained in early trading on Friday, on track for a weekly rise, after Wall Street cheered a cool reading for producer price inflation that chilled expectations of a Federal Reserve rate hike. Rate-sensitive sectors mainly financials and auto are leading gains as the further softening in retail inflation to a four-month low of 4.87% in April gave rise to hopes of a rate-cut by the RBI. On the losing side, Tata Steel has plunged by almost 2%. The company announced a Rs 6,500-crore goodwill impairment charge for the loss of value of operations in Europe, Canada, and Mozambique in 2014-15.
Thursday, 14 May 2015
Precious metals on Comex are trading on positive note after yesterday’s sharp northward journey. Gold future prices are trading at $1219 per troy ounce, up by one dollar while Silver prices are quoting at $17.36 per troy ounce, higher by 14 cents. On Nymex, Crude Oil future prices are consolidating around $60.60 a barrel, down by 10 cents, after yesterday’s supply data. Natural Gas is hovering around $2.91 per mmBtu, down two dollar ahead of EIA storage data. On LME, all the base metals are trading in red ahead of US economic data except Aluminium which is hovering around $1187 per ton, up only two dollars while Copper are currently quoting at $6411 per ton, down 15 dollars. Nickel and Zinc are also down with trading at $13905 and $2008, down 95 points and 18 points respectively.
Markets have a tepid closing; Nifty holds 8,200: The benchmark indices ended the day virtually unchanged, amid another volatile session of trade, on continuing concerns over a delay in passage of reform-centric legislative proposals, tepid corporate earnings and forecasts of a sub-par monsoon season. The Sensex ended at 27,206, lower by 45 points and the Nifty settled at 8,224, down 11 points. The market breadth indicating the overall health of the market was positive. The BSE Mid-cap and Smallcap indices outperformed their large counterparts to end higher by nearly 1% each at 10,526 and 10,972 respectively. On the macro front, the latest data showed that inflation based on the wholesale price index (WPI) remained in negative zone last month.
Markets open lower; Sensex sheds 200 points: Markets have opened lower tracking weakness among the global peers as investors remain wary of rising bond yields coupled with weaker-than-expected US retail data. Also, caution prevails as market participants keenly await for the wholesale price inflation (WPI) data for the month of April due later in the day today. At 9.30 AM, the 30-share Sensex is down 131 points at 27,120 and the 50-share Nifty has shed 50 points at 8,185. The Indian rupee opened flat at 63.97 per dollar on Thursday against previous close of 64 per dollar. The US dollar continues to weaken, declining 1 percent yesterday. While the euro topped 1.13 to the dollar after weak US retail sales data suggests a dovish Fed.