Friday, 15 April 2016

China's Crude steel output hits Record high in March

China's crude steel output hit a record high of 70.65 million tonnes in March, data showed on Friday, as a rally in steel prices and a seasonal pick-up in demand encouraged steel mills in the world's top producer to boost production.

Steel output rose 2.9 percent from a year ago, beating market expectations, although total output in the first quarter was down 3.2 percent at 192.01 million tonnes, according to data from the National Bureau of Statistics.

Mills increased production last month in response to restocking by steel users that has helped drive up domestic prices by 34 percent this year.


Some steel mills are making a profit of as much as 500-600 yuan ($77.11-$92.49) a tonne, but a slowing economy, credit shortages and China's target of cutting overcapacity in the sector is expected to hit momentum later this year.

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Modi launches e-market for Farm Produce; Terms it 'Turning point'

Prime Minister Narendra Modi on Thursday launched an e-trading platform for agricultural products, terming it a "turning point" to ensure transparency in buying and selling of farmers' produce across the country


The Internet-based e-NAM (National Agriculture Market) is aimed at integrating 'mandis' to help both farmers and buyers by providing them data of produce available, its quality and the price being offered at the bidding markets.


"This is a turning point for the agriculture community. The agriculture sector has to be looked at holistically, and it is only then that maximum benefit of the farmer can be ensured," said Modi, addressing a gathering of farmers at Vigyan Bhawan here on the occasion.


He said that the e-trading platform will help farmers and buyers access a huge market and help them to decide for themselves by providing choices.

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Nifty ends at 7850, Sensex spikes 481 pts

The Nifty has ended at highest level since January. The 50-share index was up 141.50 points or 1.8 percent at 7850.45. 

The Sensex closed up 481.16 points or 1.9 percent at 25626.75. About 1557 shares advanced, 1119 shares declined, and 152 shares were unchanged.

M&M, ICICI Bank, Maruti, BHEL and Bajaj Auto were top gainers while Infosys and Adani Ports were losers in the Sensex.

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Wednesday, 13 April 2016

Today's Jeera Market Update

Jeera prices closed lower by 3.13 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. 

At the NCDEX, jeera futures for April 2016 contract closed at Rs. 15,640 per quintal, down by 3.13 per cent, after opening at Rs. 16,055 against the previous closing price of Rs. 16,145. It touched the intra-day low of Rs. 15,640. 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

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Gold eased below a three-week high on Wednesday as the dollar regained some ground from the yen and equities climbed higher, but the metal remained a favourite amid uncertainties in the global economy and timing of a U.S. rate hike.


* Spot gold eased 0.1 percent to $1,254.10 an ounce by 0041 GMT, following a 1.4 percent overnight rise.

* The metal jumped to a three-week high of $1,262.60 on Tuesday but pared some gains after the dollar strengthened.

* The U.S. dollar rebounded against the safe-haven yen a day after hitting its lowest level against the currency in roughly a year and a half on greater risk appetite from gains in equity and oil prices.

* Brent crude oil prices hit a four-month high and energy equities rose on Tuesday after reports of an agreement between two major producers to freeze output.

* The dollar has been on the back foot this year as investors scaled back expectations of rate hikes by the Federal Reserve, while concerns over global economic growth have hit equities.

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Indian Stock Market open Up

The 50-share index is up 87.95 points or 1.1 percent at 7796.90. 

The Sensex is up 311.03 points or 1.2 percent at 25456.62, and 

the Nifty up 87.95 points or 1.1 percent at 7796.90.

About 1067 shares have advanced, 155 shares declined, and 27 shares are unchanged. 

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Indian ADRs: HDFC Bank, Dr Reddy's Lab, Tata Motors up

Indian ADRs ended higher on Tuesday. In the IT space, Infosys was up 0.03 percent at USD 18.20 and Wipro added 0.11 percent at USD 12.50. 

In the banking space, ICICI Bank rose 0.38 percent at USD 7.09 and HDFC Bank gained 0.89 percent at USD 61. 

In the other sectors, Tata Motors was up 0.62 percent at USD 29.70 and Dr Reddy's Laboratories added 0.74 percent at USD 46.11.

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Rupee Gains 8 paise; opens at 66.35 per Dollar

The Indian rupee gained in the early trade on Wednesday. It has opened higher by 8 paise at 66.35 per dollar versus 66.43 Tuesday. 

"Positive surprise on domestic CPI inflation is expected to lead to softening bond yields as also support rupee." 

"The 10-year yield could soften by 2-4 bps in the opening session while rupee is likely to stay in range of 66.15-66.85/dollar. 

Global cues to watch for are crude oil price movement and dollar trajectory," he added.

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Asia Markets Higher; ASX up 1.2%, Nikkei Rises 1.4%

Asia markets traded higher on Wednesday morning, after a rise in oil prices powered gains in US equities overnight. Australia's ASX 200 was up 1.18 percent in early trade, boosted by advances in the heavily-weighted financials subindex, up 1.07 percent. The energy and materials subindexes were also up 2.81 and 2.76 percent respectively. 

In Japan, the Nikkei 225 advanced 1.42 percent, buoyed by relative weakness in the yen against the dollar. 

The dollar/yen pair traded at 108.64 as of 8:56 a.m. HK/SIN time, marginally higher from 108.53 in the previous session.

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Surging Energy Shares Boost Wall Street as Earnings kick off

Wall Street gained on Tuesday, led by surging energy shares that were buttressed by rising oil prices, as investors scooped up equities at the start of corporate earnings season. 

All 10 S&P sectors closed higher and the Dow industrials posted their best day in about a month. Energy shares jumped 2.8 percent, with oil majors Exxon Mobil and Chevron giving two of the biggest boosts to the S&P 500. .

Financials, the worst performing group this year, rose 1.3 percent. JP Morgan was set to report results on Wednesday, followed by other banks later in the week. 

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Tuesday, 12 April 2016

The Nifty Ending Above 7700

The upside could be on the back of good monsoon expectations and ahead of industrial output data. 

Rebound in Europe after weak opening also aided sentiment. 

The 30-share BSE Sensex rose 123.43 points to 25145.59 and 

the 50-share NSE Nifty climbed 37.55 points to 7708.95 while the broader markets outperformed. 

The BSE Midcap and Smallcap indices gained 1 percent and 0.9 percent, respectively.

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Crude Holds above $40 in Asia ahead of Producers

Crude prices dipped in Asia today but held above USD 40 as traders looked forward to a summit of key oil producers next week to discuss freezing output and easing the supply glut. Analysts said prices were expected to see-saw ahead of Sunday's meeting in the Qatari capital Doha that will gather both OPEC producers led by Saudi Arabia and non-OPEC members such as Russia.

 A major subject for the meeting is a proposal to freeze output at January levels in a bid to ease the oversupply that helped send prices plunging by three quarters to near 13-year lows between August 2014 and February this year.

At around 0830 IST, US benchmark West Texas Intermediate for delivery in May was down 13 cents, or 0.32 percent, at USD 40.23 and Brent crude for June was trading 15 cents, or 0.35 percent, lower at USD 42.68. Both contracts closed higher yesterday after soaring eight percent or more last week. 

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Nestle Jumps 5%, Maggi Noodles Gets clean Chit from CFTRI

Shares of Nestle India jumped over 5 percent intraday on Monday after its popular noodles brand cleared tests conducted by Central Food Technological Research Institute (CFTRI). CFTRI has given a clean chit to Nestle's Maggi after tests under Supreme Court directive. 

“CFTRI has submitted analysis reports on Maggi noodles to the Supreme Court. We have been provided with a copy of the reports. We are happy that all 29 samples tested by CFTRI are clear,” Nestle India said in a statement. 

The reports state that lead levels for all samples are within permissible limits, it added. “All 29 samples of Maggi Noodles,( the initial 13 and subsequent 16 samples), were collected by the relevant authorities following due process and then directly submitted to CFTRI,” Nestle India said.

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The Market Has Opened Midly in the Red

The Sensex is down 5.41 points at 25016.75 and the Nifty is down 0.90 points at 7670.50. 

About 339 shares have advanced, 112 shares declined, and 24 shares are unchanged. 

Dr Reddy's Labs, Lupin, Tata Motors, HDFC and Adani Ports are gainers while Tata Steel, Hindalco, TCS, ITC and HDFC Bank are losers in the Sensex.

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Asia Markets Mixed, with Nikkei Advancing and Shanghai Falling

Asia markets were mixed in mid-morning trade on Tuesday after a lower finish in US equities overnight ahead of earnings season. Australia's ASX 200 was up 0.55 percent, with the heavily-weighted financials subindex advancing 0.98 percent.

The country's so-called Big Four banks - ANZ, Commonwealth Bank of Australia, Westpac and NAB - traded up between 0.89 and 2.53 percent. In recent weeks, the banking stocks had come under pressure over concerns of bad debts due to their exposure to the energy and resources sectors.

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Rupee Opens Marginal Higher at 66.40 per Dollar

The Indian rupee has opened with marginal gain of 3 paise at 66.40 per dollar on Tuesday versus 66.43 in previous session.

The US dollar continues to lose as markets remain sceptical on improvement in the global economy, adding USD-INR pair continues to trade in the 66-67/dollar range with intervention at lower levels capping the gains.

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Indian ADRs: Tata Motors, Infosys, Wipro Gain

Indian ADRs ended mostly higher on Monday. In the IT space, Infosys gained 0.12 percent at USD 18.17 and Wipro added 0.27 percent at USD 12.39.

In the banking space, ICICI Bank rose 0.02 percent at USD 6.71 and HDFC Bank was down 0.03 percent at USD 60.11. 

In the other sectors, Tata Motors gained 1.02 percent at USD 29.08 and Dr Reddy's Laboratories shed 0.43 percent at USD 45.37.

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Monday, 11 April 2016

Today's Mcx Market Update By Dollar Advisory

Gold on MCX settled up 0.24% at 29131 as the Federal Reserve remained cautious on U.S. interest rate increases. The metal has been hemmed into a narrow range by uncertainty over the path the U.S. central bank will take to raising rates. Fed Chair Janet Yellen, in a conversation with former Fed chairmen on Thursday, said the U.S. economy is still on track to warrant further interest rate hikes. Several other members considered raising rates in March, the minutes showed.

Trading Ideas:

Gold trading range for the day is 28744-29346.

Gold prices recovered from lows as the Federal Reserve remained cautious on U.S. interest rate increases.

The metal has been hemmed into a narrow range by uncertainty over the path the U.S. central bank will take to raising rates.

SPDR gold trust holdings dropped by 0.22% i.e. 1.79 tonnes to 817.81 tonnes from 819.60 tonnes. 

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