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.

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.

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.

Morning Summary, Market Synopsis: 25 th June, 2015

Markets have a muted start on F&O expiry day: The markets have started the last session of the June derivatives series on a mildly negative note due to the subdued cues from the Asian front as negotiations to avert a Greek debt default go to the wire. Developments relating to Greece and the expiry of future & options contracts for June series are likely to impact sentiment today. At 9.45 am, the Sensex was at 27,746, higher by 17 points or 0.1% and the Nifty was at 8,363, up two points. The rupee opened flat at 63.60 per dollar and was unchanged in early trade compared to previous day's closing value.

Commodity Market Update (Crude Oil)

On Comex, precious metals are trying to rebound from week’s low ahead of quarterly US GDP data later in the session. Gold future prices are quoting at $1178 per troy ounce, higher by one dollar and Silver prices are trading at $15.84 per troy ounce, up by 10 cents. On Nymex, WTI Crude Oil prices nudged higher on bets of US supply drop and uncertainty over Iran deal. Crude Oil is trading at $61.11 per barrel, rose by 10 cents and Natural Gas is trading at $2.77 per mmBtu, higher by more than one-and-half percent. On LME, base metals are trading on mixed note. Copper prices are currently quoting at $5770 per tonne, up by 18 dollars and Lead is selling at $1802 per tonne, higher by eight points. Nickel is trading in red at $12815 per tonne, down by 35 points while Aluminium and Zinc are trading almost flat at $1726 and $2055 per tonne respectively.

Closing Summary, Market Synopsis; 24 th June, 2015

Markets snap 8 days winning streak as Greek Debt drama continues: Markets ended lower, snapping their eight-day winning streak, amid profit taking in late trades on reports that the new proposal presented by Greece to avoid debt default was not acceptable to the creditors. Further, investors have turned cautious ahead of the June derivative contracts set to expire tomorrow. The 30-share Sensex ended lower by 74.70 points at 27,729.67 and the 50-share Nifty dipped 20.70 points at 8,360.85. In the currency front, the Indian rupee was trading lower at 63.65 to the US dollar compared to the previous close of 63.63.

Morning Summary, Market Synopsis: 24 th June, 2015

Nifty reclaims 8400; Positive Monsoon reports helping markets to trade higher: Markets have extended gains with the defensives sectors like FMCG, pharma and software shares leading the gains. By 9:50 AM, the Sensex has gained 82 points at 27,887 and the Nifty has added 23 points at 8,404. On the currency front, the rupee opened at 63.64 levels, 6 paise down against its previous close of 63.58.

The benchmark indices may remain volatile throughout the session ahead of the expiry of the derivatives contract for the June Series tomorrow. But investors are optimistic about a possible solution between Greece and its international creditors to avert a debt crisis after Athens presented a new set of proposals on Monday.

Closing Summary, Market Synopsis: 23 rd June, 2015

Markets maintain up-trend; ends higher for eighth straight day: Markets have closed firm for eighth straight day led by a rally in metal and capital goods stocks. However, the upside was capped by profit taking in the information technology shares. Market participants are also positive about the good start to the monsoon season, thus raising hopes of easing in the monetary policy by the central bank. Further, efforts to resolve the the Greece debt crisis has also lifted sentiment in the Asian as well as European markets. The Sensex closed higher by 74 points at 27,804.3 and the Nifty gained 28.45 points at 8,381.55. On the currency front, the Indian rupee continued to trade weak by 9 paise at 63.59 levels as the American currency firmed up against other overseas currencies. Meanwhile, markets could turn volatile ahead of the expiry of June derivative contracts on Thursday.

Morning Summary, Market Synopsis: 23 rd June, 2015

Firm start on strong global cues but China stocks down 4%: The market opened higher but soon flattened out quickly within minutes. The F&O expiry later this week could bring in some choppiness. Indices could swing later in the day after a run-up for seven days in a row. China stocks continued its falling streak and fell over 4 per cent in intraday trade. It had slumped more than 13 per cent last week. Japan's Nikkei rose to a fresh 15-year high and was trading above 20,700.

Closing Summary, Market Synopsis: 22 nd June, 2015

Markets gain seventh straight day; Banks rally on rate cut hope: Markets gained for the seventh straight day led by financials and information technology shares. Banking share rallied after concerns over weak monsoon rains eased while the new proposal presented by Greece to avoid debt default also boosted investor sentiment. The 30-share Sensex ended up 414 points at 27,730 and 50-share Nifty ended up 128 points at 8,353. The Indian rupee firmed up against the dollar and trading higher at 63.42 compared to the previous close of 63.82 tracking strong gains in domestic equities. 
Most Asian markets ended with gains while European shares opened sharply higher amid expectations that the debt crisis in Greece would be resolved while merger and acquisitions in the telecom sector also boosted sentiment.

Morning Summary, Market Synopsis: 26 th June, 2015

Markets cheer Greece's proposals to avert default; Nifty opens above 8,250: Markets have started the session on a higher note tracking positive trend among global peers. By 9:30, the Sensex was higher by 168 points at 27,484 and the Nifty gained 53 points at 8,278. Market participants will keep an eye on how the monsoon progresses. The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation. Global events such as Greece outcome could also drive the markets. Further, stock markets may witness volatility this week amid expiry of derivatives contracts.

Commodity Market Update (Copper)

Precious metals on Comex slipped lower from the peak of yesterday as dollar index recovered mildly after Federal Reserve’s recent policy statement. Gold future prices are trading at $1199 per troy ounce, down by three dollars while Silver future prices are trading at $16.09 per troy ounce, fell by seven cents. On Nymex, WTI Crude Oil prices dropped almost one-and-half percent as investors looked ahead of US rig count data later in the session. Crude Oil is trading at $59.62 per barrel while Natural Gas is selling at $2.78 per mmBtu with flat note after yesterday’s neutral storage data. On LME, all the base metals are trading in the red. Copper continues it’s losing streak to trade at $5671 per tonne, lower by 76 points while Nickel is currently quoting at $12670 per tonne, down by 45 dollars. Lead and Zinc are trading at $1793 and $2053 per tonne, lower by 14 and 15 dollars respectively.

Closing Summary, Market Synopsis: 19 th June, 2015

Rain halts Mumbai, but no stopping for Markets: Markets gained for the sixth straight session with Nifty settling above the 8,200 levels comfortably supported by sustained buying across the board. RIL displayed a spectacular rally for the sixth straight day on optimism concerning the company's 4G telecom services that is likely to roll out under the Reliance Jio brand in December. The Sensex soared 200 points to end at 27,317 and the Nifty surged 50 points to close at 8,225. Above-normal monsoons, positive macroeconomic numbers coupled with a dovish stance by the Fed bolstered the rally. Also, a modest hike in the Minimum Support Price (MSP) for the Kharif crops by the Government in order to contain inflation proved to be a key driver for the markets as investors anticipate a further rate cut by the RBI in the near term.

Morning Summary, Market Synopsis; 19th June, 2015

Nifty opens above 8,200 tracking firm global cues: Markets have extended gains for sixth straight day and have commenced firm tracking strength in the global peers led by the IT shares after Nasdaq hit record highs, a day after the Federal Reserve indicated it would raise the interest rates slowly. The Sensex has opened higher by 122.49 points at 27,238.32 and the Nifty gained 28.65 points at 8,203.25. Monsoon is expected to be normal in June boosting sowing of kharif crops but there are concerns about pick up in rainfall in the next month, a top Indian Meteorological Department (IMD) official said yesterday. Heavy overnight rains in Mumbai have resulted in a complete collapse of suburban train services.

Morning Summary, Market Synopsis: 18 th June, 2015

Nifty opens above 8,100; Fed keeps key rates unchanged: Markets have extended gains for fifth straight day and have started higher after the Federal Reserve post the two-day FOMC meet kept the interest rates steady at zero and indicated it may hike interest rates in September. The Sensex has opened higher by 118.72 points at 26,944.47 and the Nifty has gained 25.90 points at 8,117.70. Asian equities rose early on Thursday after the Federal Reserve sounded more dovish than many had expected and led investors to push back their expected timing of a rate hike, while the dollar was put on the defensive on the same token. After a closely-watched two-day meeting, the Fed said the economy was likely strong enough to support an interest rate increase by the end of the year. But it lowered its expectations for 2015 economic growth because of a weak start to the year and reduced its growth and federal funds rate forecast.

Closing Summary, Market Synopsis: 18 th June, 2015

Winning spree intact; market gains for fifth straight day: Markets finished the session on a firm note as the Fed kept the benchmark rates unchanged post its two-day FOMC meet. Meanwhile, the advancement of Monsoons and favorable macroeconomic parameters coupled with a strengthened rupee further lifted the sentiments of the investors. The Sensex soared 283 points to end at 27,116 levels and the Nifty surged 83 points to close at 8,174.6 levels.The rupee was trading higher at 63.85 compared to its previous close of 64.12 after the American currency weakened overseas on the back of sustained selling by exporters and banks while gains in domestic equities also aided sentiment.

Morning Summary, Market Synopsis: 17 th June, 2015

Nifty opens above 8,100; Fed keeps key rates unchanged: Markets have extended gains for fifth straight day and have started higher after the Federal Reserve post the two-day FOMC meet kept the interest rates steady at zero and indicated it may hike interest rates in September. The Sensex has opened higher by 118.72 points at 26,944.47 and the Nifty has gained 25.90 points at 8,117.70. Asian equities rose early on Thursday after the Federal Reserve sounded more dovish than many had expected and led investors to push back their expected timing of a rate hike, while the dollar was put on the defensive on the same token. After a closely-watched two-day meeting, the Fed said the economy was likely strong enough to support an interest rate increase by the end of the year. But it lowered its expectations for 2015 economic growth because of a weak start to the year and reduced its growth and federal funds rate forecast.

Commodity Market Update (Crude Oil)

On Comex, Precious metals remained muted as investors looked ahead to the Federal Reserve’s monetary policy statement due later in the day for fresh triggers. Gold future prices are trading at $1178 per troy ounce, down by two dollars while Silver prices are trading at $15.95 per troy ounce with flat note. On Nymex, WTI Crude Oil prices edged higher as traders speculate that today’s upcoming weekly US supply data will be dropped. Crude oil  is trading now at $61.18 per barrel, higher by two percent while Natural Gas is trading at $2.90 per mmBtu, almost flat. On LME, all the base metals are trading in the green except Zinc ahead of FOMC statement. Copper is currently quoting at $5768 per tonne, up by 17 dollars and Nickel prices are trading at $12825 per tonne, higher by 135 points. Lead is selling at $1809 per tonne, lower 11 dollars while Zinc is trading at $2093 per tonne, lower by two dollars.

Closing Summary, Market Synopsis: 17 th June, 2015

Markets end higher for four straight day: Benchmark share indices gained for the fourth straight session led by index heavyweight Reliance Industries while FMCG shares gained after concerns over monsoon eased. Buying spree continued as the market was oversold due to the correction in the previous weeks while encouraging macro data also helped investor sentiment. FMCG shares rallied as near-term concerns regarding the monsoon eased. Further, the two-day FOMC meet which ends later today could signal the US Fed's stance on interest rates going forward.
The 30-share Sensex ended up 146 points at 26,833 and the 50-share Nifty closed 44 points higher at 8,092. The Indian currency firmed up against the US dollar on the back of selling of the US dollars by banks and exporters while gains in domestic equities also aided sentiment. The rupee is trading higher at 64.13 compared to the previous close of 64.24.

Closing Summary, Market Synopsis: 16 th June, 2015

Markets finish higher amid volatile trades: After a volatile session of trading, markets finished the session on a firm note as investors bought stocks at attractive valuations amid short covering led by a smart rally in the banking shares. The S&P BSE Sensex ended the session at 26,686 levels, up by 100 points while the CNX Nifty reclaimed 8,000 levels and ended the session at 8,047 levels, up by 33 points. On the currency front, the rupee weakened 9 paise and was quoting at 64.22 on the back of fresh capital outflows and strengthening of dollar. Meanwhile, the global markets edged lower amid concerns over Greece debt default. Further, investors would be closely watching the Federal Open Market Committee (FOMC) meeting, which will be held for two days starting today and tomorrow. Investors are expected to get clarity on US Fed rate hike.

Closing Summary, Market Synopsis: 15 th June, 2015

Nifty ends above 8,000 but overall sentiment remained muted: Benchmark share indices ended higher on Monday, shrugging off weak European cues, amid buying in index heavyweights even as auto shares emerged as the top gainers. The 30-share Sensex ended up 161 points at 26,587 and the 50-share Nifty ended up 31 points at 8014. The rupee was trading marginally lower at 64.09 to the US dollar compared to its previous close of 64.06. Markets are seeing value buying at lower levels on the back of improved macros with encouraging April IIP numbers and controlled Inflation. Meanwhile, the wholesale price index (WPI) contracted to 2.36% in May versus -2.65% in the previous month on the back of dropping oil and manufacturing goods prices.

Morning Summary, Market Synopsis: 12 th June, 2015

Markets flat; Nifty hovers around 7,950: Markets have recovered and are trading marginally in positive zone supported by index heavyweight Relinace Inds. RIL is trading firm the annual general meeting, which will be held today. By 9:36, the S&P BSE Sensex was higher by 32 points at 26,403 levels and the CNX Nifty is trading flat at 7,963 mark. Among macro-economic front, the government is scheduled to unveil industrial production data for April 2015 today. The government is also scheduled to unveil the consumer price index (CPI) data for the month of May 2015.

Commodity Market Update (Copper)

Precious metals on Comex remained subdued on stronger dollar against other major currencies and ahead of US key economic data. Gold future prices are trading at $1179 per troy ounce, down by one dollar while Silver future prices are trading at $15.85 per troy ounce, lower by eight cents. On Nymex, WTI Crude Oil prices edged lower ahead of latest US rig count data. Crude Oil is trading at $60.24 per barrel, fell by more than half-a-percent. Natural Gas is trading at $2.79 per mmBtu, down by almost one percent after yesterday’s negative storage data. On LME, base metals pack is trading on mixed note. Copper prices are currently quoting at $5908 per tonne, up by 20 points while Nickel is trading at $13120 per tonne, down by 210 dollars. Lead and Zinc are trading at $1850 and $2118 per tonne, lower by 16 dollars and nine dollars respectively.

Closing Summary, Market Synopsis: 12 th June, 2015

Markets end with modest gains; amid consolidation: Markets finished the session on a firm note led by financials after Finance Minister in discussion with the banks laid stress on clearing the stalled infrastructure projects and capital infusion in public sector banks. However, upside gains were capped on profit taking in IT shares and investors remained wary ahead of the release of key macroeconomic data, CPI and IIP. Meanwhile, the worsening of deadlock between Greece and its creditors over reforms after International Monetary Fund IMF quit the talks hurt the sentiments. The Sensex gained 54 points to end at 26,425 and the Nifty climbed 18 points to close at 7,983. The rupee declined for the second straight day and is quoting at 64 against the US dollar tracking weakness in the Indian equities.

Morning Summary, Market Synopsis: 12 th June, 2015

Markets flat; Nifty hovers around 7,950: Markets have recovered and are trading marginally in positive zone supported by index heavyweight Relinace Inds. RIL is trading firm the annual general meeting, which will be held today. By 9:36, the S&P BSE Sensex was higher by 32 points at 26,403 levels and the CNX Nifty is trading flat at 7,963 mark. Among macro-economic front, the government is scheduled to unveil industrial production data for April 2015 today. The government is also scheduled to unveil the consumer price index (CPI) data for the month of May 2015.

Morning Summary, Market Synopsis: 12th June, 2015

Markets end with modest gains; amid consolidation: Markets finished the session on a firm note led by financials after Finance Minister in discussion with the banks laid stress on clearing the stalled infrastructure projects and capital infusion in public sector banks. However, upside gains were capped on profit taking in IT shares and investors remained wary ahead of the release of key macroeconomic data, CPI and IIP. Meanwhile, the worsening of deadlock between Greece and its creditors over reforms after International Monetary Fund IMF quit the talks hurt the sentiments. The Sensex gained 54 points to end at 26,425 and the Nifty climbed 18 points to close at 7,983. The rupee declined for the second straight day and is quoting at 64 against the US dollar tracking weakness in the Indian equities.

Closing Summary, Market Synopsis: 11 th June, 2015

Nifty breaks 8,000 to end near 8-month closing low: Benchmark share indices failed to extend the previous day's pull back and the Nifty breached 8,000 levels to end near eight-month closing low amid a sharp sell off in PSU bank shares after the RBI on Thursday said that they would need higher than budgeted capital infusion. The 30-share Sensex closed after shedding 470 points to 26,371 levels. The 50-share Nifty breached its crucial technical level of 8000 and closed at 7,965 points, down by 159 points.The broader markets also succumbed to selling pressure with BSE Mid-cap and Smallcap indices down by 1.78% and 1.55% respectively. The market breadth ended negative with 1,855 declines against 784 advances on the BSE. On the currency front, at 3:30 PM, the Indian rupee was down by 8 paise and was trading at Rs 63.92 against the greenback tracking weakness in the local equities.

Morning Summary, Market Synopsis: 11 th June, 2015

Markets open higher amid firm global cues: Markets have opened higher tracking strength among the global peers amid easing of Greek debt crises. The narrowing of the government's current account deficit (CAD) along with MSCI’s decision of deferring inclusion of China A stocks to its benchmark indices which had triggered the continuous outflow of funds by the foreign investors has lifted the sentiments of the market participants. At 9.45 AM, S&P BSE Sensex was up 91 points at 26,931 levels and the CNX Nifty gained 22 points to trade at 8,146 mark. 

On the macro-economic front, India’s current account deficit (CAD) declined sharply to $1.3 billion (0.2% of gross domestic product) in the quarter ended March from $8.3 billion (1.6% of GDP) in the quarter ended December.

Morning Summary, Market Synopsis: 10 th June, 2015

Sensex up over 200 points, Nifty nears 8,100; financials surge: Markets have started the session on a firm note tracking firm Asian cues along with strong buying among financial shares. By 9:45, the S&P BSE Sensex was higher by 223 points at 26,703 and the CNX Nifty gained 69 points at 8,091. Banking shares have extended yesterday’s gain after the RBI allowed banks to take control of debt-laden companies by converting loans into equity, if a debt restructuring fails to revive them within a stipulated time-frame. Further, global index provider MSCI has decided against including locally traded China shares in its global benchmark indices. Inclusion of China-A shares could have triggered massive outflows from the Indian market as its weight would have got reduced in the MSCI indices.

Commodity Market Update (Crude Oil)

On Comex, precious metals are trading with positive note. Gold future prices edged higher for third consecutive day due to weaker dollar against other major currencies. Gold is trading at $1185 per oz, higher by almost eight dollars while Silver future prices are trading at $16.09 per oz, up by 13 cents. On Nymex, WTI Crude Oil prices continued its rising spree as market participants expect large supply drop in the US stockpiles later in the session. Crude Oil is selling at $61.40 per bbl, higher by more than two percent. Natural Gas prices are trading at $2.87 per mmBtu, up by two cents after yesterday’s robust gain. On LME, all the base metals are trading in the green ahead of key Chinese data later in the week. Copper prices rebounded from two months low to trade at $6066 per tonne, higher by 99 points while Nickel is currently quoting $13650 per tonne, up by more than two percent. Lead and Zinc are trading at $1964 and $2188 per tonne, higher by 35 and 25 points respectively.