COMMODITY MCX DAILY REPORT 30/JUNE/2014

Precious Metals

DAILY BUZZ

GOLD

Gold prices rose by 0.43 per cent to Rs 27,785 per 10 grams in futures trade today as speculators created fresh positions taking positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in August moved up by Rs 118, or 0.43 per cent, to Rs 27,785 per 10 grams, with a business turnover of 677 lots.

The metal for delivery in far-month October rose by a similar margin to trade at Rs 27,860 per ten grams, with a trade volume of 33 lots.

SILVER

Silver futures fell 0.52 per cent to Rs 44,419 per kg today as speculators reduced positions on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in July eased by Rs 234, or 0.52 per cent, to Rs 44,419 per kg in a business turnover of 464 lots.

Similarly, the white metal for delivery in September lost Rs 227, or 0.50 per cent, to Rs 44,925 per kg in 91 lots. 

Base Metals & Energy 

 

DAILY BUZZ

LEAD

Lead prices drifted by 0.23 per cent to Rs 131.30 per kg in futures trade today after participants reduced their exposures, tracking a weak trend at spot markets on subdued demand from battery makers.

At the Multi Commodity exchange, lead for delivery in June traded lower by 40 paise, or 0.23 per cent to Rs 131.30 per kg in business turnover of 217 lots.

Likewise, the metal for delivery in July shed 35 paise, or 0.19 per cent to Rs 130.20 per kg in 69 lots.

ZINC

Zinc futures were marginally down by 0.27 per cent to Rs 131.15 per kg today amidst profit-booking by speculators and subdued spot demand.

At the Multi Commodity Exchange, zinc for delivery in June traded lower by 35 paise, or 0.27 per cent to Rs 131.15 per kg in business turnover of 291 lots.

Similarly, the metal for delivery in July shed 30 paise, or 0.23 per cent to Rs 131.80 per kg in 58 lots. Market analysts said besides profit-booking, subdued demand from consuming industries in the spot market kept pressure on zinc prices at futures trade. 

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COMMODITY MCX DAILY REPORT 27/JUNE/2014

Precious Metals

DAILY BUZZ

GOLD

Gold prices fell by 0.30 per cent to Rs 27,667 per 10 grams in futures trade today amidst a weak trend overseas and profit-booking by speculators.

At the Multi Commodity Exchange, gold for delivery in August eased by Rs 84, or 0.30 per cent, to Rs 27,667 per 10 grams with a business volume of of 269 lots.

Likewise, the metal for delivery in October was down by Rs 67, or 0.24 per cent, to Rs 27,770 per 10 grams in 7 lots.

SILVER

Silver futures fell 0.52 per cent to Rs 44,419 per kg today as speculators reduced positions on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in July eased by Rs 234, or 0.52 per cent, to Rs 44,419 per kg in a business turnover of 464 lots.

Similarly, the white metal for delivery in September lost Rs 227, or 0.50 per cent, to Rs 44,925 per kg in 91 lots. 

Base Metals & Energy 

DAILY BUZZ 

COPPER

Copper futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market as stockpiles monitored by exchanges in London, Shanghai and New York fell to the lowest level since October 2008, dropping for a tenth straight session, signaling shrinking supplies of the refined metal. A weaker dollar boosted the demand for the industrial metal as an alternative asset. Weaker greenback makes copper cheaper for those holding other currencies, thus dimming demand. At the MCX, copper futures for June 2014 contract is trading at Rs. 421.80 per 1 kg, up by 0.38 per cent, after opening at Rs. 420.50, against the previous closing price of Rs. 420.20. It touched an intra-day low of Rs. 421.95.

CRUDE OIL

Crude oil futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity amid concerns that deepening unrest in northern Iraq may crimp crude supplies from the OPEC’s second biggest crude producer. Investors are eying the US jobless claims and consumer spending data to be released today which may show strength in the world’s biggest economy, lifting the demand outlook for the fuel. US jobless likely fell last week while consumer spending rose in May. At the MCX, Crude Oil futures, for the July 2014 contract, is trading at Rs 6,443 per barrel, up by 0.23 per cent, after opening at Rs 6,438, against a previous close of Rs 6,428. It touched an intra-day high of Rs 6,450.

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DAILY FOREX REPORT FROM RESEARCH VIA 26/june/2014

MARKET HEADLINES

• Rupee down 19 paise to 60.32 against US dollar The rupee weakened by 19 paise to 60.32 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers. Forex dealers said though increased demand for the US currency from importers put pressure on the rupee but a higher opening in the domestic equity market and the dollar's weakness against other currencies overseas, capped the losses. Yesterday, the rupee strengthened by seven paise to close at 60.13 against the US currency on the back of a sharp rise in local equities, following a drop in global crude oil prices. Meanwhile, the benchmark BSE Sensex rose 58.90 points, or 0.23 per cent, to 25,427.80 in early trade today.
• Dollar moves narrowly in Asia trade The dollar held up against the yen and euro in Asia on Wednesday as dealers await the release of key US data later in the week. The greenback was changing hands at 101.92 yen in Tokyo midday trade, marginally down from 101.98 yen in New York Tuesday afternoon. The euro bought $1.3605 against $1.3606 while inching down to 138.67 yen from 138.75 yen. Not much of the data released Tuesday was terribly directional, said National Australia Bank in a note. The dollar was unable to break away from the yen in New York despite the US Conference Board saying consumer confidence increased for the second straight month in June to its highest level since January 2008. Separately, the Commerce Department said sales of new homes in May hit their highest pace since 2008. Sales surged 18.6 percent month-on-month to 504,000 units as the country moved out of the winter lull. Also, sales were nearly 17 percent higher year-on-year. "US house prices were soft, but the market chose to focus on strong new home sales. US consumer confidence was solid," it noted. The bank added that the euro also held its own despite a slip in Germany's Ifo index of business confidence. "Germany's Ifo, in contrast (to US data) was soft and disappointing," NAB said. The bank said markets were having another quiet day and were "likely to see lacklustre trading and the ebb and flow of unenthused participation".Junichi Ishikawa, market analyst at IG Securities, told Dow Jones Newswires that investors may find it "difficult to make a large move" ahead of Thursday's US consumer spending data for May. 
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TODAY'S EQUITY MARKET REPORT AND UPDATE 25/june/2014

ECONOMY ANALYSIS

• Sensex ends up over 300 points; Nifty holds 7550
• Reliance Communications likely to launch up to Rs 2,985 crore share sale
• Power Grid up 1%, to invest Rs 5500 cr for upgradation
• Bajaj Hindusthan up 10% on FCCB repayment, sugar sops
• GAIL, IGL climb 5% on hopes of natural price hike
  
  
  MARKET ANALYSIS

• The S&P BSE Sensex snapped four-day losing streak and closed 337 points up on back of easing crude oil prices and as sentiment turned bullish on hopes of strong reforms in the Union Budget.
• The crude oil prices registered its biggest decline in the last seven weeks as oil supply concerns from Iraq eased.
• The 30-share index ended at 25,368.90, up 337.58 points or 1.35 per cent. It touched intraday high of 25,414.69 and a low of 25,115.83 in trade today.

The Nifty closed at 7,580.20, up 86.85 points or 1.16 per cent. It touched intraday high of 7,593.35 and a low of 7,515.20 in trade today.

The market breadth was positive on the BSE with 2,042 gainers against 9,85 losers.

• The foreign institutional investors sold shares worth Rs 214.49 crore while domestic institutional investors were net buyers worth Rs 117.43 crore on Monday as per the provisional data from the National Stock Exchange. 
  
  
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DAILY FOREX REPORT 24/june/2014

MARKET HEADLINES

• Rupee trims initial gains; trades lower against US dollar  
  The rupee trimmed its early gains to hit day's low of 60.27 in trade today due to uneven demand and supply of the US currency from banks. The local currency resumed higher at 60.10 per dollar as against the last weekend's level of 60.18 at Interbank Foreign Exchange ( Forex) market on initial selling of dollars by banks and exporters in view of recovery in the equity market. However, it failed to maintain initial gainson some demand for the American currency from banks. Crude oil prices edged higher in Asian today on continued violence in Iraq, but gains were capped as the risk premium associated with the crisis in the key crude producer is already factored in, analysts said. The US benchmark West Texas Intermediate was up 31 cents to USD 107.14. In New York market, the dollar rebounded on Friday, but posted weekly losses against most major rivals after the Fed signalled this week it was likely to keep interest rates low for a while.
• China's yuan rises for 2nd day on stronger midpoint, improved sentiment 
    China's yuan rose modestly against the dollar for the second day on Friday, buoyed by a marginally stronger central bank midpoint and improved sentiment after the currency's recent rebound, traders said. Spot yuan stood at 6.2286 per dollar at midday, up 0.02 per cent from Thursday's close, after the central bank fixed its midpoint at 6.1524, up 0.01 per cent from Thursday. The yuan has rebounded 0.5 per cent since the end of April after slumping 3.3 per cent in the first four months of this year as the People's Bank of China (PBOC) engineered a depreciation of the currency to deter speculators betting on non-stop yuan appreciation. More recently, however, the PBOC has fixed its midpoint generally stronger to signal that it may feel the depreciation earlier in the year was enough to deter punters, traders said. China's healthy export growth in May, which resulted in the country's biggest trade surplus in five years, also offered the central bank an easy excuse to let the yuan's depreciation take a pause, traders said. A Reuters poll of 11 currency analysts showed sentiment on the yuan turned bullish for the first time in four months, fueled by a change of the PBOC's tactics. Still, traders said the PBOC's recent midpoints have not sent signs that it is guiding yuan to resume appreciation. For instance, the central bank set three sharply lower midpoints in the first three days of this week as it moved to dampen speculation that it would allow the yuan to resume appreciation after the currency staged its biggest weekly rise of 0.6 per cent since late 2011 last week .
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COMMODITY MARKET DAILY UPDATE AND REPORT 23/june/2014

Precious Metals

DAILY BUZZ

GOLD

Gold futures prices rose 0.23 per cent to Rs 27,720 per 10 grams today as speculators engaged in enlarging their positions after precious metal rose to two-month high in global markets.

At the Multi Commodity Exchange gold for delivery in far-month October rose by Rs 63, or 0.23 per cent, to Rs 27,720 per 10 grams with a business turnover of 9 lots.

In a similar fashion, the metal for delivery in August contracts moved up by Rs 39, or 0.14 per cent, to Rs 27,650 per 10 grams with a trade volume of 629 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as expectations that borrowing costs in the US will remain low, fueled demand for bullion as an alternative investment.

Meanwhile, gold climbed to USD 1,322.12 an ounce in Singapore, the highest level since April 15, after a 3.3 per cent jump yesterday that was the biggest increase since September last year. 

Base Metals & Energy 

DAILY BUZZ

ZINC

Tracking a firm global trend, zinc prices were higher by 0.77 per cent to Rs 130.40 per kg in futures trade today as speculators created positions.

Besides, increased demand from consuming industries in the spot market supported the uptrend.

At the Multi Commodity Exchange, zinc for delivery in June rose by Re 1, or 0.77 per cent to Rs 130.40 per kg in business turnover of 1,857 lots.

In a similar fashion, the metal for delivery in July contracts traded higher by the same margin to 131.10 per kg in 231 lots.

Globally, zinc for delivery in three months climbed 0.9 per cent to USD 2,173 a metric tonne, the highest since February 2013 on the London Metal Exchange (LME).

Meanwhile, stockpiles tracked by the LME have dropped 28 per cent this year to the lowest since December 2010. 

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DAILY COMMODITY MCX REPORT FOR 20/june/2014

Precious Metals

DAILY BUZZ

GOLD

Gold futures were trading higher in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market after the US Federal Reserve said that it is likely to keep interest rates at very low levels for a lengthy period even after QE ends, bolstering the appeal of the bullion as a store of value. Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,885 per 10 grams, up by 0.22 per cent, after opening at Rs. 26,827, against the previous closing price of Rs 26,826. It touched an intra-day high of Rs 26,888.

SILVER

Silver futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal after the US Federal Reserve maintained its key benchmark interest rate unchanged near zero, boosting the demand for the precious metal as an alternative asset.

At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 42,685 per kg, up by 0.14 per cent, after opening at Rs. 42,461, against the previous closing price of Rs 42,627. It touched an intra-day high of Rs 42,850.

Base Metals & Energy 

 DAILY BUZZ

COPPER

Amidst a weak trend in the global market and subdued spot demand copper prices fell 0.61 per cent to Rs 404.90 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in June shed Rs 2.50, or 0.61 per cent, to Rs 404.90 per kg business turnover of 2,910 lots.

Similarly, the metal for delivery in August traded lower by Rs 2.15, or 0.52 per cent, to Rs 408.90 per kg in 278 lots. Globally, copper for delivery in three months fell 0.3 per cent, to USD 6,691.50 a tonne on the London Metal Exchange while in Shanghai, metal for delivery in August declined 0.4 per cent to 47,950 yuan (USD 7,701) a tonne.

LEAD

Tracking a weak trend overseas and sluggish domestic demand, lead fell 0.75 per cent to Rs 125.40 per kg in futures trade today after participants reduced their exposures.

At the Multi Commodity exchange, lead for delivery in June shed 95 paise, or 0.75 per cent, to Rs 125.40 per kg in business turnover of 325 lots. 

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DAILY FOREX REPORT FROM RESEARCH VIA 19/JUNE/2014

MARKET HEADLINES

Rupee slips against US dollar as Iraq violence intensifies
The rupee hit day's low of 60.54 against the US dollar as the intensifying Iraq crisis leads to fears of supply disruption in oil supplies and domestic shares fell sharply. Local stocks fell more than 1 per cent on waning risk appetite due to the Iraq conflict. Brent crude held above $113 per barrel on Wednesday as heavy fighting in Iraq shut the country's biggest refinery and led to the withdrawal of staff by foreign oil firms, stoking worries about exports from the key oil producer. India imports nearly two-thirds of its oil needs, leaving its currency especially vulnerable to price swings. The partially convertible rupee is seen trading in a range of 60.02 to 60.50 during the session.

China to start yuan vs. sterling trading in FX market from Thursday

China's central bank said on Wednesday that the Chinese currency will be traded directly against sterling in the interbank foreign exchange market, in the latest step to facilitate investment and bilateral trade between China and Britain. "The move will help to lower foreign exchange conversion costs and will promote the usage of both yuan and sterling in bilateral trade and investment, which will help strengthen financial ties between the two countries," the central bank said in a statement on its website. A separate statement on the China Foreign Exchange Trade System website said the trading will start from Thursday.

South Korea aims to launch yuan/won trading this year: Official

South Korea aims to launch trading of the yuan/won pair this year, a senior government official said on Wednesday, which will likely boost trade with China while helping Seoul prepare for the yuan's emergence as a major currency in the future. "We hope that (the direct trading of the pair) will contribute to increasing trade and investment," Choi Hee-nam, head of the finance ministry's international finance bureau, said by telephone. "We are making preparation with the aim of beginning it within this year." Bilateral trade between the two neighbouring countries has soared to $229 billion by 2013 from just $6 billion in 1992, when they established full diplomatic relations, but more than 99 percent of the deals are paid in the U.S. dollar, he said. Both the yuan and won are not fully convertible globally and companies use the dollar as the main currency in doing business with each other.

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TODAY'S MCX PRECIOUS AND BASE METALS REPORT 18/6/2014

Precious Metals

DAILY BUZZ

GOLD

Gold futures prices today fell by 0.23 per cent to Rs 26,834 per 10 grams as speculators offloaded their positions to book profits amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in far-month October fell Rs 61, or 0.23 per cent, to Rs 26,834 per 10 grams in business turnover of seven lots.

Similarly, metal prices for delivery in August declined by Rs 55, or 0.20 per cent, to Rs 26,776 per ten grams in 181 lots.

SILVER

Silver prices declined 0.28 per cent to Rs 42,085 per kg in futures trade today as speculators booked profits amid a weak trend in the global markets.

At the Multi Commodity Exchange, Silver prices for delivery in July traded lower by Rs 119, or 0.28 per cent, to Rs 42,085 per kg in business turnover of 341 lots.

Similarly, the white metal prices for delivery in September declined by Rs 93, or 0.22 per cent, to Rs 42,325 per kg in business volume of 12 lots. In the international market, silver prices traded 0.40 per cent lower at USD 19.58 an ounce in Singapore.  

Base Metals & Energy 

DAILY BUZZ

ZINC

Zinc futures prices today edged up by 0.36 per cent to Rs 126.70 per kg today as speculators enlarged positions, amidst a firm global trend and better domestic demand.

At the Multi Commodity Exchange, zinc for delivery in June increased by 45 paise, or 0.36 per cent, to Rs 126.70 per kg, with a business turnover of 302 lots.

Likewise, the metal for delivery in July traded higher by 45 paise, or 0.35 per cent, to Rs 127.45.

Traders said besides improved demand in domestic spot market, a firming trend in base metals overseas on speculation that demand will stabilise in China and the US, the world's largest metal consumers, supported the upside in zinc futures here. 

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TODAY'S COMMODITY MCX REPORT 17/june/2014

Precious Metals

DAILY BUZZ

GOLD

Gold futures rose 0.90 per cent to Rs 26,866 per 10 grams as speculators enlarged positions on positive cues from global markets.

At the Multi Commodity Exchange, the metal for delivery in August gained Rs 239, or 0.90 per cent, to trade higher at Rs 26,866 per 10 gm in a turnover of 451 lots.

On similar lines, the metal for delivery in October edged higher by Rs 211, or 0.79 per cent, to Rs 26,895 per 10 gram, clocking a business volume of 12 lots.

SILVER

Silver prices climbed 0.97 per cent to Rs 42,410 per kg in futures trade today as participants engaged in creating speculative positions on a firming trend in the precious metal overseas.

At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 408, or 0.97 per cent, to Rs 42,410 per kg in a business turnover of 72 lots.

On similar lines, the metal for delivery in July traded higher by Rs 375, or 0.90 per cent, to Rs 42,250 per kg in a turnover of 689 lots. 

Base Metals & Energy 

DAILY BUZZ

COPPER

Copper futures rose 0.77 per cent to Rs 403.95 per kg today on rising spot demand and a firming trend at the London Metal Exchange.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 3.10, or 0.77 per cent, to Rs 403.95 per kg, with a turnover of 1,891 lots.

Similarly, the metal for delivery in August was up by Rs 2.85, or 0.70 per cent, at Rs 407.25 per kg, with a trade volume of 148 lots.

Globally, copper for delivery in three-months was up 0.50 per cent to USD 6,686.75 a tonne at the London Metal Exchange, while it rose 0.60 per cent to 48,000 yuan (USD 7,730) per tonne for August delivery in Shanghai.

CRUDE OIL

Crude oil futures rose 1.13 per cent to Rs 6,361 per barrel today as speculators created fresh positions amid a firming trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in June gained Rs 71, or 1.13 per cent, to Rs 6,361 per barrel, with a business turnover of 2,056 lots. The oil for July delivery also moved up by Rs 70, or 1.12 per cent, to Rs 6,342 per barrel in a turnover of 359 lots. West Texas Intermediate (WTI) crude oil advanced 73 cents to USD 107.26 per barrel in late morning Asian trade, after surging USD 2.13 in New York yesterday to reach its highest level since September. 

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Weekly Derivative Future Roundup for JUNE 16, 2014

CNX NIFTY

In the weekly chart of Nifty Futures, we saw up trend in Nifty, In the opening of the week Nifty futures moved up with hyper buying and traded with the life time high of 7715.55 but at the end of the market day due to Iraq tension on Friday Nifty Slipped down with hyper selling and closed in Negative at 7596 with 3.00 points down from the previous week closing at 7599 in which we saw top weekly Gained in HCL TECH with +8.38%,+111.25 Rs change, and ASIAN PAINTS with +7.29% , +36.85 Rs change, and we saw top weekly Loosed in DLF with -12.12%, -28.25 Rs Changes, and BHEL with -9.51%, -25.00 Rs change. 

INDEX	S2	S1	PP	R1	R2
CNX NIFTY	7492	7544	7630	7682	7767

CNX BANK NIFTY

In the weekly chart of Bank Nifty Futures, we saw much volatility in bank Nifty Futures and Bank nifty Index, in the opening of the week we saw Bank Nifty futures moved up with hyper buying but at the end of the week Bank sectors slipped down besides this we saw buying in Axis Bank only and on Friday Axis Bank closed with 4.5 % up, Due to Iraq tension on Friday Bank Nifty futures slipped down and Bank Nifty futures closed negative at 15146.00 with -417 points down at 15563. In which we saw top weekly Loosed in AXIS BANK with -7.88%, -155.60 Rs change and BANK BARODA with -7.03%, -63.60 Rs change, and top weekly Gained in HDFC BANK with +2.47%, +20.15 Rs change and KOTAK BANK with +1.57% , 14.20 Rs change. 

INDEX	S2	S1	PP	R1	R2
BANK NIFTY	14715	14931	15340	15556	15965

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