BMA iq: 29th June, 2013

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News Hour: Gold hits 23-month low at Rs 25,650 on weak global cues

NEW DELHI: Gold prices today tumbled to a 23-month low by losing Rs 1,150 to Rs 25,650 per 10 grams in the national capital on heavy selling by stockists and investors, triggered by a steep fall in overseas markets.All round selling by stockists on free-fall in overseas markets and investors shifting their funds to surging equities mainly pulled down the gold prices to a level last seen on August 9,2011. 
Silver also dropped by Rs 1,490 to trade below Rs 40,000 at Rs 39,010 per kg on poor offtake by jewellers and coins makers. 
Traders said the sentiment dampened as gold in Singapore plunged to nearly three-year low by dipped below USD 1,200 an ounce on improving US economic data strengthening the case for the Federal Reserve to reduce stimulus. 
Gold in overseas markets, which normally set price trend on the domestic front, dropped USD 24.40 to USD 1,200.80 an ounce and silver by 0.05 per cent to USD 18.51 an ounce. 
They said investors shifting their funds to surging stock prices further influenced the market sentiment. 
In the national capital, gold of 99.9 and 99.5 per cent purity registered a hefty fall of Rs 1,150 each to Rs 25,650 and Rs 25,450 per 10 grams, respectively. Sovereigns declined by Rs 200 to Rs 23,800 per piece of eight grams. 
In line with a gold trend, silver ready dropped by Rs 1,490 to Rs 39,010 per kg while weekly-based delivery rose by Rs 130 to Rs 39,700 per kg. 
Silver coins also nosedived by Rs 2,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
(Source: economictimes.indiatimes.com)

Closing Summary, Market Synopsis: 28th June, 2013

Closing Market Update:
The Indian benchmarks ended the day on a positive note on June 28, 2013. They opened the day with a big gap up and sustained the gap post opening. They consistently inched up through the day, though slowly but inevitably. More than expected increase in gas prices provided the required impetus to the market. Again the current settlement began with a considerable light position. The rupee also strengthened against the greenback. All these led the Sensex to close at the level of 19395.81 i.e. up by 519.86 points and the Nifty to close at the level of 5842.20 i.e. up by 159.85 points. The midcap index and the small cap index closed in green with the gain of more than two and quarter of a percentage points and more than one and one-third of a percentage point respectively. On the sectoral front, all the indicies closed in green. The Metal Index closed as the biggest gainer with the gain of more than four and two-third of a percentage points. This was followed by the Power Index which closed with the gain of more than four and one-tens of a percentage points. On the other hand the Consumer Durables Index closed as the smallest gainer with the gain of eighteen basis points of a percentage point.

Further, the market breadth closed positive as two stocks were seen advancing against each declining stock.

BMA iq

Commodity Market Update (Copper)

Precious metals on CMX are trading down today with the most actively traded Gold contract is at $1201.0, lower by 10 points or 0.80% while Silver is at $18.8, up by 24 cents since morning. View on Gold and Silver remains negative with Gold prices are likely to test support around $1180.0 and Silver's support comes at $18.0 level. Crude Oil and Natural Gas prices on NYM are trading at $97.6 and $3.6, higher by 0.60% and 0.85% respectively. We expect Oil prices to remain positive while Natural gas prices are likely to remain range bound for the day. Base metals across the LME are trading down with three-month Copper is trading at $6765.0, added 0.43% till now while rest of the metals are moving in a narrow range with nominal changes. On data front, there are no major releases for the day.

Market Synopsis, Morning Summary: 28th June, 2013

The major Indian equity benchmarks started the day with a strong gap up on June 28, 2013 on the back of international cues & government’s initiative to increase the gas prices. It was a positive Thursday for Wall Street boosted by a string of upbeat economic reports. The Dow reclaimed its 15000 mark. Europe too extended its gains to close higher. Asian markets were trading higher on Friday morning with the Japanese market up nearly 3 percent on firm data. On Thursday, CCEA okayed gas price hike. The Gas price will be doubled to 8.4/mmbtu from April 1, 2014. The prices will be reviewed quarterly. The gas price hike shows the decisiveness of the government. The move will improve business confidence. The Indian benchmarks are trading firm after opening and are seen trading in a similar range. All these led the Sensex to trade near the level of 19149.62i.e. up by 273.67 points & the Nifty to trade near the level of 5764.55 i.e. up by 82.20 points. The Midcap index and small cap index are trading in green with the gain of more than nine-tens of a percentage point and more than eight-tens of a percentage point respectively. On the sectoral front, all the indices except three are trading in green. The Oil & Gas Index is trading as the biggest gainer with the gain of more than three and a quarter of a percentage point. This is followed by the PSU Index which is trading with the gain of almost two and half of a percentage point. On the other hand Consumer Durables index is the biggest loser with the loss of more than one percentage point.

Further, the market breadth opened positive as five stocks are seen advancing against two declining stocks.

Closing Summary, Market Synopsis: 27th June, 2013

Key benchmark indices surged mainly on hopes of lower US GDP numbers (1.8%) might delay the Fed’s plans to reduce asste purchase and partly due to the battered Indian rupee recovered against the dollar after the latest data showed that India's current account deficit (CAD) moderated sharply to 3.6% of GDP in Q4 of March 2013 from a historically high level of 6.7% of GDP in Q3 December 2012. The BSE Sensex, and the 50-unit CNX Nifty, both, hit one-week high. The Sensex was provisionally up 324 points or 1.7%, to close at 18876 and Nifty settled at 5682 up by 93 points. The market breadth, indicating the overall health of the market, was positive, the Advance- decline ratio at NSE stands at 682/569. In Nifty50, 39 stocks advance to 10 declines, 1 unchanged.

Top 10 Dailies: 27th June, 2013

Market Closed:
SENSEX: 18875.95(+323.83)
NIFTY: 5682.35(+93.65)

Commodity Market Update (Natural Gas)

Bullion price are trading flat after falling significantly in the past sessions. The near month Gold contract is trading at $1229.30 with a meager decline of just 5 cents and Silver prices are at $18.62, up by 0.09% at the time of writing this. Near term price action is likely to remain negative and traders are suggested to avoid risky longs from the current level. Traders will be looking for the US Unemployment Claims report to be released by the Dept. of Labor at 6.00 PM. Base metals on LME are trading in green, the three-month Copper is at $6775.00, up by 0.60% and Nickel is recording the maximum gain for the day at $13820.00, higher by 1.39%. On NYM, Crude Oil is trading higher while Natural Gas is trading down; the near month Crude Oil contract is at $95.85, up by 0.37% and Natural gas is at $3.72, down by 0.40% at the time of writing this. Traders are waiting for the release of Natural Gas storage report which is scheduled at 8.00 PM today.

Morning Summary, Market Synopsis: 27th June, 2013

The major Indian equity benchmarks started the day with a gap up on June 27, 2013 on the back of international cues. It was another positive session on Wall Street on Wednesday on hopes that Fed would not taper its stimulus program in the immediate future. European markets too clocked in sharp gains. Asian markets were trading higher in the morning on Thursday. India's March quarter current account deficit was $18.1 billion, or 3.6 percent of GDP, lower than expected and below the $21.7 billion deficit a year earlier. This also resulted in rupee opening stronger against the dollar. Today, it is a derivative settlement day. Hence the trading will be characterized by volatility. CCEA is also to meet to finalize the rise in Gas prices among other decisions. All these led the Sensex to trade near the level of 18722.96 i.e. up by 170.84 points & the Nifty to trade near the level of 5644.95 i.e. up by 56.25 points. The Midcap index and small cap index are trading in green with the gain of more than half of a percentage point and nearly two-third of a percentage point respectively. On the sectoral front, all the indices except one are trading in green. The IT Index is trading as the biggest gainer with the gain of more than one and three-fourth of a percentage point. This is followed by the Oil & Gas Index which is trading with the gain of almost one and three-fourth of a percentage point. On the other hand Consumer Durables index is the biggest loser with the loss of more than two-third of a percentage point.

Further, the market breadth opened positive as two stocks are seen advancing against each declining stock.

Closing Summary, Market Synopsis: 26th June, 2013

The Indian benchmarks ended the day on a weak note on June 26, 2013. After opening flat, they traded sideways with some positive bias during the first half. However, during the last hour of trade, there was some strong selling pressure which pushed the benchmarks to touch the low of the day. Even their closing was also towards the low of the day. This selling pressure got accelerated because of strong depreciation in the rupee against the greenback. The rupee had hit an all time low as bank’s stop losses were triggered. All these led the Sensex to close at the level of 18552.12 i.e. down by 77.03 points and the Nifty to close at the level of 5588.70 i.e. down by 20.40 points. The midcap index and the small cap index closed in red with the loss of more than two-third of a percentage point and more than one-third of a percentage point respectively. On the sectoral front, the indicies closed mixed. The IT Index closed as the biggest gainer with the gain of more than one and two-third of a percentage point. On the other hand the Auto Index closed as the biggest loser with the loss of nearly one and eight-tenth of a percentage point. This was followed by the Metal Index which closed with the loss of one and three-tens of a percentage point.

Further, the market breadth closed negative as two stocks were seen advancing against three declining stocks.

Top 10 Dailies: 26th June, 2013

Market Closed
SENSEX: 18552.12(-77.03)
NIFTY: 5588.70(-20.40)

Commodity Market Update (Crude Oil)

Precious Metals are trading sharply lower today, the near month contract on COMEX is at $2124.90, down by $50.00 or 3.91% and Silver is down by 5.71% or more than a dollar at $18.43 an ounce at the time of writing this. Prices are expected to move lower in coming session as the overall outlook remains negative for Gold and Silver. On NYM, Crude oil and Natural gas prices are trading mix with Oil active contract is at $94.92, lower by 0.40% while Natural Gas prices are at $3.65, up 0.11%. We maintain a neutral outlook on energy complex and traders will be looking for the release of US Crude oil storage report which is scheduled at 8.00 PM. Base metals across the LME are trading lower with the exception of Aluminum. Copper is at $6738.00, lower by 0.50% while Aluminum is at $1780.00, up by just $2.00.

Morning Summary, Market Synopsis: 26th June, 2013

The major Indian equity benchmarks started the day with a small gap up on June 26, 2013 on the back of international cues. It was a positive session on Wall Street Tuesday as upbeat economic data boosted sentiment. European markets too rebounded from seven-month lows to end higher. Asian markets were mixed in morning trade on Wednesday. The People’s Bank of China (PBOC) reassured and soothed the market saying the overall liquidity in domestic banks is abundant. In India we are nearing the derivative settlement which is to be held tomorrow. Thus volatility will be the name of the game for these two days. Hence market will be choppy. Again, FIIs has been on risk off mode and are withdrawing funds from our market. Rupee is also trading flat. All these led the Sensex to trade near the level of 18667.13 i.e. up by 37.98 points & the Nifty to trade near the level of 5626.40 i.e. up by 17.30 points. The Midcap index and small cap index are trading in green with the gain of one-third of a percentage point and four-tens of a percentage point respectively. On the sectoral front, the indices are trading mixed. The Power Index is trading as the biggest gainer with the gain of more than one and one-third of a percentage point. This is followed by the Realty Index which is trading with the gain of more than one and one-tens of a percentage point. On the other hand Auto index is the biggest loser with the loss of more than four-tens of a percentage point. .

Further, the market breadth opened positive as three stocks are seen advancing against two declining stocks.

Top 10 Dailies: 25th June, 2013

Market Closed
NIFTY: 5609.10(+18.85)
SENSEX: 18629.15(+88.26)

The Indian benchmarks ended the day on a flat note on June 25, 2013. After opening flat, they lost some ground in the early hours of trade on the back of weak Chinese markets which were falling due to liquidity problems . However during the early half, the Indian benchmarks bottomed out for the day and reversed their direction to go up. This seemed primarily on short covering as derivative settlement is nearing. However, they could not maintain the gains and slipped towards the opening mark in the last hour of trade. It seems that the market is trading near its short term bottom and is likely to bounce for derivative settlement adjustment. Shares of ITC, Reliance Industries, HDFC Bank and Larsen & Toubro gained 1-2 percent. All these led the Sensex to close at the level of 18629.15 i.e. up by 88.26 points and the Nifty to close at the level of 5609.10 i.e. up by 18.85 points. The midcap index and the small cap index closed in red with the loss of more than four-tens of a percentage point respectively. On the sectoral front, the indicies closed mixed. The Oil & Gas Index closed as the biggest gainer with the gain of more than one and half of a percentage point. On the other hand the Power Index closed as the biggest loser with the loss of nearly one and one-fifth of a percentage point. This was followed by the Consumer Durables Index which closed with the loss of two-third of a percentage point.

Further, the market breadth closed negative as three stocks were seen advancing against four declining stocks.

Commodity Market Update (Silver):

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Precious metals prices on COMEX are trading higher, erasing its last session decline with Gold near month contract is at $1284.60, up by 0.57% or $7.10 and Silver is at $19.71, adding almost a percent till now. We expect a range bound session ahead, however the overall outlook is still bearish over the counter as prices are still trading below the crucial levels. On Base Metals, Copper is trading at $6760.00, $54.50 and Nickel is the best performer to gain 1.5% or $90.00 at $13850.00. All other metals are also trading higher following Copper and Nickel. Crude oil and Natural Gas on NYM is trading at $95.83 and $3.73 with Oil prices higher by 0.70% and Gas prices are slightly lower by 0.08%. We maintain a neutral view on Crude Oil and Natural Gas.

Morning Summary, Market Synopsis: 24th June, 2013

The major Indian equity benchmarks started the day on a flat note on June 25, 2013 on the back of international cues. It was a negative session on Wall Street with major indices down a percent each on Monday. The CBOE VIX surged over 6 percent. European markets also closed sharply lower. Asian markets bounced back after previous day's fall, but China's Shanghai continued its downward journey due to liquidity concerns. Hence these markets were also pulled down. This condition of Chinese markets pushed the Indian benchmarks down, post opening. The market men are waiting for some short covering as derivative settlement is coming closer and benchmarks have fallen nearly nine percent in this settlement. IGL has hiked Delhi CNG price by Rs 2 a kg w.e.f. midnight to Rs 41.90/kg. Prices in Ghaziabad and Noida have been hiked by Rs 2.25. It has also hiked piped cooking gas price by Re 1 per kg in Delhi. Thus there is a possibility of Gas price hike by Reliance Industries & ONGC. All these led the Sensex to trade near the level of 18553.08 i.e. up by 12.19 points & the Nifty to trade near the level of 5592.95 i.e. up by 2.70 points. The Midcap index and small cap index are trading in red with the loss of nine-tens of a percentage point and more than one-third of a percentage point respectively. On the sectoral front, the indices are trading mixed. The Oil & Gas Index is trading as the biggest gainer with the gain of more than one and quarter of a percentage point On the other hand Consumer Durables index is the biggest loser with the loss of more than one percentage point. . This is followed by the Auto Index which is trading with the loss of almost one percentage point.

Further, the market breadth opened negative as two stocks are seen advancing against three declining stocks.

Closing Summary, Market Synopsis: 22nd June, 2013

The Indian benchmarks ended the day on a weak note on June 24, 2013. After opening with a gap down, it even slipped further. Some buying during the mid of the day did help them to recover and reach towards opening level, however, they could not sustain and went down further breaching the low touched in the early part of the day. However, towards the end, they did recover somewhat. The fear of further withdrawal by FIIs was on the mind of traders. On the other hand, this being a derivative settlement weak, it is being more volatile than other days. International markets are also watchful as they are waiting for important data to be announced. All these led the Sensex to close at the level of 18540.89 i.e. down by 233.35 points and the Nifty to close at the level of 5590.25 i.e. down by 77.40 points. The midcap index and the small cap index closed in red with the loss of more than two and half a percentage point and more than two and one-tenth of a percentage point respectively. On the sectoral front, all the indicies closed in red. The Healthcare Index closed as the least loser with the loss of more than three-forth of a percentage point. On the other hand the Realty Index closed as the biggest loser with the loss of nearly four and eight-tens of a percentage point. This was followed by the Consumer Durables Index which closed with the loss of three and four-tens of a percentage point.

Further, the market breadth closed negative as five stocks were seen advancing against two declining stocks.

Commodity Market Update (Gold):

Precious metals are trading lower since morning with the most actively traded Gold contract on CMX is at $1281.60, down by -0.80% or $10.40 an ounce and Silver is at $19.62, -1.67% at the time of writing this. The near term outlook for Gold and Silver is likely to remain bearish with support for Gold stands at $1250.00 and that for Silver emerges at $19.30 level. Crude oil and Natural gas prices on NYMEX are trading silent with Oil futures are at $93.49, - 20 cents while Natural Gas is at $3.77 with a meager gain. Base metals across the LME are trading negative with Copper at $6653.00, down by 2.79% or 190 points followed by all other metals. We maintain a bearish outlook over the base metals.
No major economic releases for the day.

Morning Summary, Market Synopsis: 24th June, 2013

Morning Market Update:
The major Indian equity benchmarks started the day with a small gap down on June 24, 2013 on the back of consistent selling of Indian stocks by FIIs. The international scene was also not positive. US markets ended flat in volatile trading on Friday. But still, the stocks finished in the red for the week, logging their worst weekly drop since mid-April. European markets also closed at its lowest level since January. Asian markets were very quiet in the morning trade on Monday, just exhibiting some fatigue after last week’s selling rout. Indian benchmarks are also trading in a similar manner. The Inidian rupee fell by 33 paise in the opening trade. It is expected to take some near-term respite because of more measures to encourage capital inflows and the anticipated improvement in the CAD. All these led the Sensex to trade near the level of 18617.59 i.e. down by 153.21 points & the Nifty to trade near the level of 5619.40 i.e. down by 48.25 points. The Midcap index and small cap index are trading in red with the loss of nearly one and a half percentage point and nearly one percentage point respectively. On the sectoral front, all the indices except one are trading in red. The Metal Index is trading as the biggest gainer with the gain of more than one-third of a percentage point On the other hand, Consumer Durables index is the biggest loser with the loss of three and two-tens of a percentage point. . This is followed by the Realty Index which is trading with the loss of almost two percentage points.

Further, the market breadth opened negative as three stocks are seen advancing against seven declining stocks.

BMA iq: 22nd June, 2013

Closing Summary, Market Synopsis: 21st June, 2013

The Indian benchmarks ended the day on a flat note amid listless trading on June 21, 2013. After opening weak, benchmarks started consolidating and moved ahead. But at higher levels, strong selling pressure pushed the benchmarks down. However, towards the end, they again rebounded to close near the highs of the day. The rupee gained sharply, coming off lows since morning, at 59.23/25 versus Thursday’s close of 59.57/58 on the back of dollar inflows related to Essar Steel's USD 1 billion overseas borrowing. There was a risk off attitude across all asset class. Even the precious metal pack also traded in negative zone. All these led the Sensex to close at the level of 18774.24 i.e. up by 54.95 points and the Nifty to close at the level of 5667.65 i.e. up by 11.75 points. The midcap index and the small cap index closed in red with the loss of more than one and a quarter of a percentage point and more than one-third of a percentage point respectively. On the sectoral front, the indicies closed mixed. The IT Index closed as the biggest gainer with a gain of more than one and four-tens of a percentage point. This was followed by the Teck Index which closed with the gain of more than one and one-tens of a percentage point. On the other hand the Metal Index closed as the biggest loser with the loss of more than one and four-tens of a percentage point. 

Further, the market breadth closed negative as three stocks were seen advancing against four declining stocks.

Top 10 Dailies: 21st June, 2013

Market Closed
SENSEX: 18774.24 (54.95)
NIFTY: 5667.65 (11.75)

Commodity Market Update (Copper)

On CMX, precious metals were trading lower since morning and continued its last session’s losing momentum. At the time of writing this, the most actively traded Gold contract is trading in green at $1389.90, up $3.50 or 0.35% after having tested a low of $1368.70 while front month Silver futures eased -0.70% or 14 cents to trade at $19.69 as low as of $19.31 an ounce. Energy prices are trading higher after the last night’s sharp decline; Crude Oil trading at $95.56, up 42 cents or 0.45% and Natural Gas adding 0.50% or 2 cents to trade at $3.89 per mmBtu. LME base metals are trading mixed after the early morning’s sharp decline with Copper trading at $6809.25, higher by $36.25 and Nickel adding to $13777.0 per metric ton. On domestic front, commodities are trading lower since morning with the help of a stronger rupee against the dollar which appreciated by half a percent or 32 paise to 59.25 as we write this.

Morning Summary, Market Synopsis: 21st June, 2013

The major Indian equity benchmarks started the day with a small gap down on June 21, 2013 on the back of weak international cues. The US markets bled on Thursday with major indices sliding over 2 percent each. The Dow Jones and the S&P 500 saw their worst day of 2013. The CBOE VIX surged 23 percent. European markets too posted a worst 1-day fall in 19 months. Asian markets too slumped today morning; Japanese and Korean markets were down more than 2 percent. Investors have been on risk off mode post FOMC announcement and there has been price erosion across all assets. There was a strong FII outflow yesterday and It seems is the beginning of the things to come. On the other hand Unilever's USD 5.4 billion voluntary open offer to increase its stake in Hindustan Unilever ( HUL ) begins today, and will remain open till July 4at a price of Rs 600/-. All these led the Sensex to trade near the level of 18745.07 i.e. up by 25.78 points & the Nifty to trade near the level of 5662.15 i.e. up by 6.25 points. The Midcap index is trading in red with the marginal loss of twelve basis points of a percentage point and small cap index is trading in green with the gain of three-tens of a percentage point. On the sectoral front, the indices are trading mixed. The IT Index is trading as the biggest gainer with the gain of one and one-tens of a percentage point. This is followed by the Teck Index which is trading with the gain of more than one percentage point. On the other hand, Bankex index is the biggest loser with the loss of three-tens of a percentage point.

Further, the market breadth opened slightly positive as eight stocks are seen advancing against seven declining stocks.

News Hour: Asia dominates world's most expensive office spaces -report

NEW YORK: Five of the six most expensive office areas in the world are in Asia, as demand by global companies to locate there outstripped the supply, according to a semiannual report released on Thursday by real estate services company CBRE Inc.

For the third consecutive time, Hong Kong's Central business district had the highest overall occupancy cost, which includes local taxes and service charges. Hong Kong's Central averaged $235.23 per square foot annually at the end of March, leading London's West End at $222.58. Beijing's Finance Street followed at $195.07 per square foot with Beijing's central business district right behind at $187.06.

"Demand is coming from a lot multinational corporations who want to place a stake into these developing economies," saidRaymond Torto, CBRE's global chief economist. "When they look around some of these cities, they want to be in the best locations because there's not a lot of good infrastructure. You want to be close to other businesses. You want to be close to transportation. And you want to be in a quality property."

Meanwhile, supply is muted by either height restrictions or ownership in which even in the best buildings separate floors can be owned by different landlords. That restricts opportunities to upgrade a building and can limit the availability of contiguous space, he said.

At No. 5 New Delhi's Connaught Place's occupancy cost was $178.96 per square foot with Hong Kong's West Kowloon area at $173.90, according to the report that covers 127 markets around the globe.

Moscow, Tokyo's Marunouchi/Otemachi district and London's Central City followed with Midtown Manhattan making 10th place at $120.65 per square foot.

Jakarta saw the biggest increase, with occupancy costs jumping 38.9 per cent compared with a year earlier. Two of Houston's office areas also made their way into the top five areas where occupancy costs increased the most. In suburban Houston, occupancy costs jumped 21.2 per cent to No. 2. Houston's downtown occupancy costs rose 14.9 per cent, fourth behind downtown Boston, where occupancy costs rose 15.4 per cent.

Globally, occupancy costs rose by 1.4 per cent.
(Source: economictimes.indiatimes.com)

Closing Summary, Market Synopsis: 20th June, 2013

The major Indian equity benchmarks started the day with a big gap down on June 20, 2013 on the back of outcome of FED meet. US markets dropped over a percent on Wednesday on the possibility of Fed tapering its bond purchase program. Treasury prices fell after the announcement with the benchmark 10-year yield hitting its highest level since 2011. European markets also ended lower in thin and choppy trading. Asian markets opened lower on Thursday by less than half a percent. US Federal Reserve Chairman Ben Bernanke's statement that the Fed would start reducing its stimulus measures later this year if the economy is strong enough has forced the market to go down and rupee to weaken drastically. Even the bond market has come to a trading halt. The Indian rupee opened today at a new all time low. It has opened at 59.60 per dollar versus 58.70 Wednesday. All these led the Sensex to trade near the level of 18875.83 i.e. down by 369.87 points & the Nifty to trade near the level of 5702.25 i.e. down by 120 points. The Midcap index and the small cap index are trading in red with the loss of nearly one and one third of a percentage point and one percentage point respectively. On the sectoral front, all the indices except one are trading in red. The IT Index is trading as the biggest gainer with the marginal gain of seven basis points of a percentage point. On the other hand, Realty index is the biggest loser with the loss of three and six-tens of a percentage point. This is followed by the Metal Index which is trading with the loss of more than three and half of a percentage point.

Further, the market breadth opened considerably negative as one stock is seen advancing against three declining stocks.

Commodity Market Update (Natural Gas)

Precious metals are trading sharply lower with Gold actively traded contract fell 5.0% or $68.0 to trade at $1306.0 and Silver is down by 6.4% or $1.3 to trade at $20.2 on back of a hawkish statement from the federal reserve that weighed on prices. We expect precious metals prices to remain lower for the day with near term support for Gold coming at $1280.0 and that for Silver comes at $20.0. Base metals are trading significantly down on LME with Nickel trading at $13816.0, lower by 420 points or 2.9% followed by rest of the metals. 3-month Copper is at $6813.0, -$163.0 or 2.3%. Prices are likely to continue its downward journey as the major support in Copper and other metals is broken. On Crude Oil and Natural Gas prices are trading in red; Crude oil is lower by 2.0% at $96.2 and Natural Gas is down by just 0.25% at $3.95.
Data to watch: Unemployment Claims, Natural Gas Storage, Philly Fed Manufacturing Index, Existing Home Sales

Morning Summary, Market Synopsis: 20th June, 2013

The major Indian equity benchmarks started the day with a big gap down on June 20, 2013 on the back of outcome of FED meet. US markets dropped over a percent on Wednesday on the possibility of Fed tapering its bond purchase program. Treasury prices fell after the announcement with the benchmark 10-year yield hitting its highest level since 2011. European markets also ended lower in thin and choppy trading. Asian markets opened lower on Thursday by less than half a percent. US Federal Reserve Chairman Ben Bernanke's statement that the Fed would start reducing its stimulus measures later this year if the economy is strong enough has forced the market to go down and rupee to weaken drastically. Even the bond market has come to a trading halt. The Indian rupee opened today at a new all time low. It has opened at 59.60 per dollar versus 58.70 Wednesday. All these led the Sensex to trade near the level of 18875.83 i.e. down by 369.87 points & the Nifty to trade near the level of 5702.25 i.e. down by 120 points. The Midcap index and the small cap index are trading in red with the loss of nearly one and one third of a percentage point and one percentage point respectively. On the sectoral front, all the indices except one are trading in red. The IT Index is trading as the biggest gainer with the marginal gain of seven basis points of a percentage point. On the other hand, Realty index is the biggest loser with the loss of three and six-tens of a percentage point. This is followed by the Metal Index which is trading with the loss of more than three and half of a percentage point.

Further, the market breadth opened considerably negative as one stock is seen advancing against three declining stocks.

Top 10 Dailies: 19th June, 2013

Market Closed
SENSEX: 19245.70(+22.42)
NIFTY: 5822.25 (+8.65)

Commodity Market Update (Crude Oil)

Precious metals are trading flat today the most actively traded Gold contract is at $1366.00, down by a dollar or 0.08% and Silver is at $21.56, lower by 0.50% at the time of writing this. We expect prices to remain volatile during the evening session as traders are waiting for FOMC Statement to be released later in the day. Base metals prices traded mixed during the morning session; three-month Copper is at $7014, higher by 0.24%. Other metals are also trading in narrow range with meager changes. Crude Oil and Natural Gas prices on NYM is at $98.92 and $3.914, higher by 0.48% and 0.23% respectively. We expect prices to remain positive in coming hours.
Data to Watch :
Crude Oil Inventories
FOMC Statement

Morning Summary, Market Synopsis: 19 th June, 2013

The major Indian equity benchmarks started the day on a weaker note on June 19, 2013. This was in spite of a strong US markets. US markets finished near session highs on Tuesday ahead of the all important FOMC decision due later tonight. The Dow soared nearly 150 points. European markets closed mixed. Asian markets mirrored Wall Street gains on in the morning trade on Wednesday; Japanese market was up almost 2 percent. The markets are waiting for the outcome of the FOMC meet, which is expected before we start the trading day tomorrow. The depreciation in rupee is a prime concern for the foreign investors. On the other hand, in a path breaking move the Mayaram Panel recommended abolishing 26 percent cap for foreign direct investment (FDI). The panel wants the minimum limit for FDI across sectors to be set at 49 percent. Also, it has recommended fully opening up of sectors with a 74 percent FDI cap . All these led the Sensex to trade near the level of 19107.87 i.e. down by 115.41 points & the Nifty to trade near the level of 5782.20 i.e. down by 30.35 points. The Midcap index and the small cap index are trading in green with the gain of nearly one third of a percentage point each. On the sectoral front, the indices are trading mixed with negative bias. The consumer Durable Index is trading as the biggest gainer with the gain of nearly half a percentage point. On the other hand, PSU index is the biggest loser with the loss of nearly eight-tens of a percentage point. This is followed by the Oil & Gas Index which is trading with the loss of two-third of a percentage point.

Further, the market breadth opened slightly positive as five stocks are seen advancing against four declining stocks.

Top 10 Dailies: 18th June, 2013

Market Closed:
SENSEX: 19223.28 (-102.59)
NIFTY: 5813.60 (-36.45)

Closing Summary, Market Synopsis: 18th June, 2013

The Indian benchmarks ended the day on a negative note after a volatile trading day on June 18, 2013. After opening weaker, benchmarks slid down and had a couple of bouts of volatile movement before finally settling the day in the negative zone. The weakness in rupee was one of the prime reason for such volatility. Investors seemed anxious ahead of the two-day Federal Reserve's policy meeting that will begin tonight. Investors also expect rupee to remain under pressure against the greenback till FOMC minutes are out. All these led the Sensex to close at the level of 19223.28 i.e. down by 102.59 points and the Nifty to close at the level of 5813.60 i.e. down by 36.45 points. The midcap index and the small cap index closed in green with the marginal gain of three basis points of a percentage point and quarter of a percentage point respectively. On the sectoral front, the indicies closed mixed. The Metal Index closed as the biggest gainer with a gain of three-fourth of a percentage point. On the other hand the Bankex Index closed as the biggest loser with the loss of one and one-fifth of a percentage point. This was followed by the Consumer Durables Goods Index which closed with the loss of nearly one and one-tens of a percentage point.

Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.

Commodity Market Update (Silver):

Precious metals are trading lower today with the most actively traded Gold contract is at $1377.20, -0.43% and Silver is at $21.70, down by 0.27% at the time of writing this. We expect prices to remian in a range with a negative bias for the day. Base metals across the LME are also trading lower today, three-month Copper is at $7035.00, down by 0.74% followed by other metals in the group which are also similarly lower. Aluminum, Lead and Nickel are lowe by 0.70% each while Zinc is trading down by 0.55% at the time of writing this. Copper prices are trading near a strong support and a break below this will turn near term outlook bearish for the metal. Crude Oil on NYM are trading lower by 0.32% at $97.46 while Natural Gas prices are slightly positive. We expect energy prices to remain in a range for the day.

Morning Summary, Market Synopsis: 18th June, 2013

The major Indian equity benchmarks started the day on a weaker note on June 18, 2013. This was in spite of a strong US markets. US markets recovered from their lows to close higher on Monday following positive economic data and as investors await clarity on Fed's bond purchase programme. European markets also ended higher. Asian markets were trading cautious today morning. The rupee has weakened in today’s early trade and has induced fresh selling in Indian Markets. The rupee remains a big concern and will continue to be a headwind, going forward. Again, market men are waiting for the outcome of fed meeting which will be out tomorrow night. All these led the Sensex to trade near the level of 19260.02 i.e. down by 65.85 points & the Nifty to trade near the level of 5825.50 i.e. down by 24.55 points. The Midcap index and the small cap index are trading in green with the gain of quarter of a percentage point and one third of a percentage point respectively. On the sectoral front, the indices are trading mixed with negative bias. The Teck Index is trading as the biggest gainer with the gain of nearly half a percentage point. On the other hand, Bankex index is the biggest loser with the loss of nearly two-third of a percentage point. This is followed by the Consumer Durables Index which is trading with the loss of more than half of a percentage point.

Further, the market breadth opened slightly positive as six stocks are seen advancing against five declining stocks.

Top 10 Dailies: 17th June, 2013

Market Closed
SENSEX: 19325.87 (+147.94)
NIFTY: 5850.05 (+41.65)

Closing Summary, Market Synopsis: 17th June, 2013

The Indian benchmarks ended the day on a positive note on June 14, 2013. After opening flat, Nifty slid down post RBI Monetary policy announcement which kept the rates unchanged. However, some short covering coupled with buying pushed the Nifty up and slowly but inevitably, it started scaling heights. The Reserve Bank of India's inaction today was widely anticipated with concerns around the rupee getting highlighted. The next event which market men are looking forward as a trigger for the upcoming move is FOMC meet. This is to be held on 18th June & 19th June, 2013. Post this, a fresh direction can emerge depending on its outcome. All these led the Sensex to close at the level of 19325.87 i.e. up by 147.94 points and the Nifty to close at the level of 5850.05 i.e. up by 41.65 points. The midcap index and the small cap index closed in green with the gain of one-third of a percentage point and slightly less than four-tens of a percentage point respectively. On the sectoral front, all the indicies except one, closed in green. The Auto Index closed as the biggest gainer with a gain of one and nine-tens of a percentage point. This was followed by the Capital Goods Index which closed with the gain of slightly more than one and one-tens of a percentage point. On the other hand the Metal Index closed as the single loser with the marginal loss of thirteen basis points of a percentage point.

Further, the market breadth closed almost neutral with positive bias as ten stocks were seen advancing against nine declining stocks.

Commodity Market Update 9Gold)

Bullion prices are trading silent with a negative bias since morning. The most actively traded Gold contract is at $1387.10, lower by half a dollar and Silver contract is lower by 0.18% at the time of writing this. We expect prices to remain lower; Gold prices may take support around $1365.00 and Silver around $21.80 an ounce. Base metals across the LME are tradinglower with the exception of Copper which is at $7107.25, up by just 16 points. Nickel and Aluminum are down by 0.94% each at $14200.00 and $1843.25 respectively. Current outlook for base metals is bearish as prices are continuing their downtrend after a nominal recovery. Crude Oil and Natural Gas prices are trading lower on NYMEX Crude Oil prices are at $98.00 and Natural Gas is at $3.77, up by 0.16% and 1.21% respectively.

Closing Summary, Market Synopsis: 14th June, 2013

The Indian benchmarks ended the day on a positive note on June 13, 2013. After opening with a gap up, benchmarks consistently scaled new highs for the day almost every hour. Towrads the end, however, a sort of profit booking forced the benchmarks to close little lower than the highs. There was some anticipation of a rate cut after May inflation eased further to 4.7 percent.Short covering and positive global cues also added to the zeal driving the benchmarks higher. WPI inflation dropped to 4.7 percent in May as against 4.89 percent in previous month. Indian rupee appreciated by 42 paise to 57.56 per dollar as against previous day’s closing of 57.98. This also helped the sentiment. All these led the Sensex to close at the level of 19177.93 i.e. up by 350.77 points and the Nifty to close at the level of 5808.40 i.e. up by 109.30 points. The midcap index and the small cap index closed in green with the gain of one and two-tens of a percentage point and slightly more than one percentage point respectively. On the sectoral front, all the indicies closed in green. The Consumer Durables Index closed as the biggest gainer with a gain of more than three and half a percentage point. This was followed by the Auto Index which closed with the gain of slightly more than three percentage points. On the other hand the IT Index closed as the least gainer with a gain of two and one-third of a percentage point.
Further, the market breadth closed positive as three stocks were seen advancing against two declining stocks.

Commodity Market Update (Copper)

Bullion prices are trading flat after a sharp decline in its previous session. The most actively traded Gold contract is at $1380.00, higher by 0.16% and Silver stands at $21.69, recording a meager gain of just 10 cents till now. We expect prices to trade in a range with a negative bias for the day with an important support for Gold is at $1360.00 and that for Silver is at $21.30 an ounce. Base metals across the LME are trading marginally higher with the exception of Aluminum which is trading higher by 0.17% at $1856.75. 3-month Nickel on LME is performing the best till now at $14275.00, added 165 points and Copper is at $7092.00, +30 points at the time of writing this. Crude Oil and Natural Gas across the NYM is at $97.12 and $3.80 respectively with Oil prices is higher by 0.44% and Natural Gas is down by 0.16%.

Morning Summary, Market Synopsis: 14th June, 2013

The major Indian equity benchmarks started the day on a positive note with a gap up on June 13, 2013. This was on the back of international cues . In US , Stocks rallied on Thursday after three days of losses as stronger-than-expected economic data helped reassure investors concerned about the expected winding down of the Federal Reserve's economic stimulus. Asian Markets are also trading positive on the back of the cues from US. Nikkei is trading with the gain of more than two and half a percentage point. Coming to the Indian shores, Wholesale price index (WPI) for the month of May is likely to be around 4.8 percent; close to the 4.89 percent that was recorded for the month of April .This announcement is expected to be around 11.30 am. Rupee is also strengthening and helping the sentiment to be positive. As benchmarks are in the over sold zone , Little buying has propped up the levels. All these led the Sensex to trade near the level of 19044.58 i.e. up by 217.42 points & the Nifty to trade near the level of 5769.35 i.e. up by 70.25 points. The Midcap index and small cap index are both trading in green with the gain of more than one and one-tens of a percentage point and nearly one percentage point respectively. On the sectoral front, all the indices except one are trading in green. The Realty Index is trading as the biggest gainer with the gain of nearly two and four-tens of a percentage point. This is followed by the Consumer Durables Index which is trading with the gain of nearly two and a quarter of a percentage point. On the other hand, IT index is the biggest loser with the loss of eleven basis points of a percentage point.

Further, the market breadth opened considerably positive as three stocks were seen advancing against each declining stock.

Top 10 Dailies : 13th June 2013

Closing Summary, Market Synopsis: 13th June, 2013

The Indian benchmarks ended the day on a negative note on June 13, 2013. After opening with a gap down, benchmarks lifted up but could not sustain and soon came down. Then they practically traded sideward for the whole day. Finance Minister P Chidambaram's assurances on the health of the economy failed to calm jittery investors. Rating agency Fitch late Wednesday raised its outlook on India's sovereign rating to 'stable' from 'negative', but the market ignored the upgrade in the face of too many negative macro data points. The benchmarks closed at the lowest level in last two months and traders were unwilling to look for bargains due to weakening rupee and bearish sentiment on the international scene. All these led the Sensex to close at the level of 18827.16 i.e. down by 213.97 points and the Nifty to close at the level of 5699.10 i.e. down by 61.10 points. The midcap index and the small cap index closed in red with the loss of one and three-tens of a percentage point and slightly more than one percentage point respectively. On the sectoral front, all the indicies except one closed in red. The Consumer Durables Index closed as the biggest gainer with a gain of more than one and half a percentage point. On the other hand the Auto Index closed as the biggest loser with a loss of two and one-third of a percentage point. This was followed by the Realty Index which closed with the loss of two and three-tens of a percentage point.

Further, the market breadth closed negative as two stocks were seen advancing against each declining stock.

Commodity Market Update (Natural Gas)

On CMX, precious metals are trading lower since morning after the last session’s steep gain due to concern over Federal Reserve monetary stimulus. Actively traded Gold contract is losing almost half a percent or $5.40 to trade at $1386.50 while Silver is trading slightly lower at $21.75, down 46 cents or 0.21% an ounce. On LME, base metals are trading lower drastically with Copper trading at $7065.75, eased 0.95% or $67.50 while Zinc was losing most of the ground among the industrial metals group, dropped 1.31% or $24.50 to trade at $1845.25. Crude Oil is declining to half a percent or 42 cents to trade at $95.57 after having tested a low of $95.02 on NYMEX while Natural Gas is trading in red at $3.75, down 2 cents or 0.64% per mmBtu. Natural Gas traders are waiting for EIA’s Natural Gas Storage report which is set to be released tonight at 8.00PM while other commodities traders are waiting for US Jobless Claims data at 6.00PM.

Morning Summary, Market Synopsis: 13th June, 2013

The major Indian equity benchmarks started the day on a negative note with a gap down on June 13, 2013. Market opening with gap down has become a trend for last few days This was on the back of international cues . In US , Dow ends below 15000. It logs first three day drop in 2013. On the other hand Asian markets crashed on Thursday as the prospect of less stimulus from central banks depressed sentiment, while the US dollar fell further against the yen amid uncertainty over the Federal Reserve's policy outlook.Post opening, Indian benchmarks are seen recovering the losses but the demand force does not seem sufficient enough to carry it to the green zone. Despite opposition from key ally, NCP leader and Agriculture Minister Sharad Pawar, the UPA is set to push through the Food Security ordinance at the Cabinet meet on Thursday. O the other hand global rating agency Fitch has upgraded the country’s sovereign credit outlook to stable from negative. All these led the Sensex to trade near the level of 18849.05 i.e. down by 192.08 points & the Nifty to trade near the level of 5706.50 i.e. down by 53.70 points. The Midcap index and small cap index are both trading in red with the loss of half a percentage point and one-third of a percentage point respectively. On the sectoral front, all the indices except one are trading in red. The Consumer Durables Index is trading as the biggest gainer with the gain of more than two and one-third of a percentage point. On the other hand, Auto index is the biggest loser with the loss of one and nine-tens of a percentage point. This is followed by the FMCG Index which is trading with the loss of nearly one and quarter of a percentage point.

Further, the market breadth opened negative as three stocks were seen advancing against seven declining stocks.

News Hour: Wipro to hire 1,000 employees in Germany over the next three years

NEW DELHI: IT services major WiproBSE -0.12 % Ltd on Wednesday said it will triple its headcount in Germany by hiring over 1,000 people over the next three years with an aim to expand its operations in the key European nation. 

According to industry estimates Germany's IT market size stood at around $80 billion last year. 

"Wipro plans to triple its employee strength in Germany over the next three years, by hiring over 1,000 professionals," the company said in a release. 

At present, the Bangalore-headquartered firm has over 500 employees in Germany, which serve more than 30 clients. It has 145,000 employees across 98 countries as on March 31, 2013. 

Its customers in Germany include a global automotive company, an European utilities major and one of the largest telecom companies in the country, among others, Wipro said. 

"Wipro expects to see significant traction in the retail, automotive, telecom, healthcare, banking and energy and utilities sectors in Germany in the years to come," it added. 

To drive stronger incremental growth in the future, Wipro is looking to address the requirements of medium-sized enterprises in the region, in addition to its existing focus on large global enterprises, it said. 

The company has a three-pronged strategy for Germany. "We are making investments in building strong domain knowledge in key growth verticals and are hiring local talent with strong delivery and program management capabilities," Wipro Chief Sales and Operations Officer (Growth Markets) Rajat Mathur said. 

The firm will continue to strengthen our new business hunting approach in order to build a strong and structured pipe-line of business opportunities for the next three-five years, he added. 

In Germany, Wipro has IT development centres in Munich, Meerbusch, Nuremberg and sales offices in Frankfurt, Munich, Cologne and Meerbusch. 

It has an on-shore datacenter capability in Meerbusch that offers a broad range of IT infrastructure management services to Wipro's European and global customers.
(Source: economictimes.indiatimes.com)

Closing Summary, Market Synopsis: 12th June, 2013

Key benchmark indices edged lower data showing a muted 2% growth in industrial production in April 2013 & uncomfortably high CPI (9.31%) weighed on sentiment. The BSE Sensex settled at 19041 down by 102 points and Nifty closed at 5760 down by 28.6 points. The market breadth, indicating the overall health of the market, was negative. On BSE, 1,398 shares fell and 967 shares rose. A total of 125 shares were unchanged. On NSE A/D ratio stood at 503: 728, 52 shares were unchanged.

Shares of Tata Group companies declined. Tata Coffee (down 20%), Tata Teleservices Maharashtra (down 19.74%), Tata Power Company (down 3.03%), Tata Communications (down 2.63%), TCS (down 2.06%) and Rallis India (down 0.35%), edged lower. Titan Industries tumbled 13.32% to Rs 204.90, with the stock extending Tuesday's 10.86% losses triggered by the company's announcement that the Reserve Bank of India (RBI) has clarified that all imports of gold for domestic consumption, either through banks, nominated agencies or directly can be made only with 100% cash margin.
Sectors that outperformed are Oil & Gas and Banking, whereas Consumer Durables (down by 7.37%), Metals, IT are the underperformers in today’s market.

Commodity Market Update(Crude Oil)

Precious metals are trading mixed in a small range with Gold trading at $1376.20, almost flat since last settlement and Silver is at $21.72, higher by 0.34% at the time of writing this. However, prices are consolidating in a range but the near term outlook is likely to remain bearish for both Gold and Silver. On base metals, 3-month Nickel is the only metal to red in red by -0.43% at $14420.00 while all other metals are trading higher at the time of writing this. Copper on LME is trading at $7142.00, up by 75 points or 1.06%. Crude Oil and Natural Gas are trading flat in a range, Crude Oil is around $95.40 and Natural Gas is at $3.71. Traders are waiting for the release of US Crude Oil inventory report, scheduled at 8.00 PM.

Morning Summary, Market Synopsis: 12th June, 2013

The major Indian equity benchmarks started the day on a negative note with a gap down on June 12, 2013.This was on the back of international cues . US Stocks slid in a volatile session on Tuesday after Japan's central bank disappointed equity markets by holding its monetary policy steady. After the Bank of Japan left its key policy unchanged, investors are now waking up to the fact that there could be no additional stimulus. Japan is down almost two percent this morning. China, Hong Kong and Taiwan markets are shut today. Post opening, Indian benchmarks are seen recovering the losses as some short covering is taking place. Two important data points- index of industrial production (IIP) and consumer price index (CPI) will be released today. April IIP is seen at 2.7%. Capital goods are expected to do better. May CPI is seen lower at 8.9% versus 9.39% month on month. All these led the Sensex to trade near the level of 19091.25 i.e. down by 51.75 points & the Nifty to trade near the level of 5776.80 i.e. down by 12 points. The Midcap index and small cap index are both trading in red with the marginal loss of fourteen basis points of a percentage point and seven basis points of a percentage point respectively. On the sectoral front, the indices are trading mixed. The Oil & Gas Index is trading as the biggest gainer with the gain of more than three-fourth of a percentage point. On the other hand, Consumer Durables index is the biggest loser with the loss of four and three-fourth of a percentage point. This is followed by the FMCG Index which is trading with the loss of nearly one and quarter of a percentage point.

Further, the market breadth opened negative as five stocks were seen advancing against seven declining stocks.