DAILY MCX REPORT FROM RESEARCH VIA 31/OCT/2014

GOLD

Gold futures tumbled in the domestic market on Thursday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market after the US Fed ended monthly bond purchases while investment demand tumbled after holdings in the largest exchange traded product (ETP) fell to the lowest level in six years.

Assets in the SPDR Gold Trust, the biggest bullion-backed ETP, shrank to the lowest level since October 2008 to 742.40 metric tons on Wednesday.

Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,765 per 10 grams, down by 1.16 per cent, after opening at Rs. 26,990, against the previous closing price of Rs 27,079. It touched an intra-day low of Rs 26,761. (At 11:34 AM).

COPPER
 
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal tracking a weaker trend in the overseas market as the Fed’s decision to end QE boosted the dollar, curbing the demand for the base metal as an alternative asset.

Stronger greenback makes copper expensive for those holding other currencies, thus dimming demand.

Investors will be keeping an eye on planned mine strikes in Indonesia and Peru which may signal tighter copper supplies.

At the MCX, copper futures for November 2014 contract is trading at Rs. 417.85 per 1 kg, down by 0.89 per cent, after opening at Rs. 420.70, against the previous closing price of Rs. 421.60. It touched an intra-day low of Rs. 417.75. (At 11:38 AM).

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GOLD SILVER DAILY UPDATES FOR 13/OCT/2014

GOLD

Gold prices rose 0.72 per cent to Rs 27,080 per 10 grams in futures trade today as speculators created fresh positions after the precious metal climbed to almost two-week high in global markets.

At the Multi Commodity Exchange, gold for delivery in February next year was up by Rs 194, or 0.72 per cent, to Rs 27,080 per 10 grams in a business turnover of six lots.

The metal for delivery in December moved up by Rs 187, or 0.70 per cent, to Rs 26,924 per 10 grams in a turnover of 836 lots.

Gold rose by 0.40 per cent to USD 1,225.60 an ounce in Singapore, the highest since September 26.

SILVER

Silver prices fell by 0.55 per cent to Rs 38,402 per kg in futures trade today amidst profit-booking by speculators and a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 213, or 0.55 per cent, to Rs 38,402 per kg in a business turnover of 897 lots.

Similarly, the white metal for delivery in March declined by Rs 212, or 0.54 per cent, to Rs 39,080 per kg in a business volume of six lots.

In the international market, silver lost 0.50 per cent at USD 17.28 an ounce in Singapore.

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DAILY COMMODITY MARKET UPDATE AND REPORT 6/OCT/2014

Precious Metals

GOLD/SILVER

Continuing its rising streak for the third day, gold prices advanced by Rs 130 to Rs 27,470 per ten grams in the national capital today on increased buying by jewellers and retailers amid ongoing festive season even as the metal weakened overseas.

Silver, however, met with resistance and dropped by Rs 1,050 to Rs 38,650 per kg on reduced offtake by industrial units and coin makers.

Marketmen said steady inflow of buying by jewellers and retailers, triggered by ongoing festive season and a weakening rupee against the dollar that made imports costlier, mainly influenced gold prices.

In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 130 each to Rs 27,470 and Rs 27,270 per ten grams, respectively. It had gained Rs 110 in previous two days.

Globally, gold fell 0.24 per cent to USD 1205.80 an ounce in London.

Sovereign, however, held steady at Rs 24,200 per piece of eight grams in limited deals.

On the other hand, silver ready plunged by Rs 1,050 to Rs 38,650 per kg and weekly-based delivery by Rs 1,025 to Rs 38,170 per kg. It had gained Rs 165 in last two sessions.

Base Metals & Energy 

COPPER

Copper prices fell by 0.08 per cent on Wednesday at the domestic markets as soft inflation data in Europe reduced the demand for the metal. Eurostat, the statistics arm of the European Union, reported that the euro area's annual inflation rate fell to a five-year low of 0.3 per cent in September from 0.4 per cent in August. Core inflation, which strips out food, energy, alcohol and tobacco costs, came in at 0.7 per cent, down from 0.9 per cent in August. At the MCX, copper futures for November 2014 contract were trading at Rs.415.65 per 1 kg, down by 0.08 per cent, after opening at Rs. 415.10 against the previous closing price of Rs. 416. It touched the intra-day low of Rs. 413.70 till the trading.

ZINC

Zinc prices fell by 1.17 per cent on Wednesday at the domestic markets as a disappointing consumer confidence report reduced the demand outlook for the metal. The Conference Board reported earlier that its consumer confidence index fell to 86.0 this month from 93.4 in August, whose figure was revised up from a previously reported 92.4. Zinc futures for September 2014 contract, at MCX, were trading at Rs 139.40 per kg, down by 1.17 per cent after opening at Rs. 140.80 against the previous closing price of Rs. 141.05. It touched the intra-day low of Rs. 138.80 till the trading.

Agro Outlook 

CASTORSEED

Castorseed prices fell by 0.65 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for October 2014 contract was trading at Rs. 4,560 per quintal tonnes, down by 0.65 per cent, after opening at Rs. 4,580 against the previous closing price of Rs. 4,590. It touched the intra-day low of Rs. 4,552 till the trading.

CARDAMOM

Cardamom prices fell by 0.95 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for October 2014 contract were trading at Rs. 832 per kg, down by 0.95 per cent, after opening at Rs. 832 against the previous closing price of Rs. 832.20. It touched the intra-day low of Rs. 821.10 till the trading.

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RESEARCH VIA EQUITY REPORT FOR 24/SEP/2014

ECONOMY ANALYSIS

• Geopolitical tensions drag Sensex 431 pts; DLF, Cipla crash
• New listing: Sharda Cropchem up 76%, debuts at Rs 260
• NBCC at new high, up 400% YTD; Nomura still sees 49% upside
• Rashtriya Ispat files draft papers for IPO
• SAIL OFS deferred in September due to share price fall
• Tech Mahindra signs multi-year contract with Finnish co
  
  
  MARKET ANALYSIS
  
  
  
• The S&P BSE Sensex posted its biggest single-day fall in two-and-a-half months on Tuesday tracking weak trend seen in other Asian markets.
• Global stocks saw some bit of profit booking on disappointment over European manufacturing data and concerns about an unemployment measure in a survey in China.
• The S&P BSE Sensex which bounced back in trade on Monday came under some intense selling pressure in trade on Tuesday. The index slipped as much as 462 points in trade to close below its crucial psychological level of 27000.
• The 30-share BSE Sensex closed at 26775.69, down 431 points or 1.58 per cent. It touched a high of 27256.87 and a low of 26744.07 in early trade.
• Tracking the momentum, the 50-share Nifty index slipped below its crucial psychological level of 8100 and is now trading near key support levels of 8000.
• The 50-share Nifty index ended at 8017, down 128 point or 1.58 per cent. It touched a high of 8159.75 and a low of 8008.10 in early trade. ticleshow/43228933.
  
  
  DAILY PIVOTS
  

  
  

  INDEX	S1	S2	PP	R1	R2
  NIFTY	7963	7910	8061	8114	8212
  BANK NIFTY	15787	15667	16013	16133	16359

  
  
  
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DAILY BASE METAL REPORT FROM RESEARCH VIA

Base Metals & Energy

DAILY BUZZ

LEAD

Lead futures traded marginally up by 0.12 per cent to Rs 130 per kg today on a firming trend in base metals in the global markets amid increased demand from domestic battery-makers.

At the Multi Commodity Exchange, lead for delivery in October traded higher by 15 paise, or 0.12 per cent, at Rs 130 per kg, with a turnover of two lots, while prices for delivery in September remained steady at Rs 128.95 per kg in a turnover of 235 lots.

NICKEL

Nickel prices were up by 0.72 per cent to Rs 1,125.70 per kg in futures market today as speculators enlarged positions amid a firming trend overseas and spot demand.

At the Multi Commodity Exchange, nickel for delivery in September gained Rs 8.10, or 0.72 per cent, to Rs 1,125.70 per kg in a business turnover of 1,859 lots.

The metal for delivery in October rose by a similar margin to Rs 1,132.50 per kg in 52 lots.

Analysts said apart from increased domestic demand from alloy-makers, firmness in base metals in global markets ahead of industrial output data from China, the biggest consumer of base metals, influenced nickel prices in futures trade here.

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RESEARCH VIA DAILY MCX REPORT 01/SEP/2014

DAILY BUZZ

GOLD

Gold futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal as a drop in bullion-backed holdings signaled weakening investment demand for the yellow metal. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell to 795.60 tons on Wednesday from its previous close of 797.09 tons on Tuesday. However, a weaker dollar boosted the appeal of gold as an alternative asset, curbing losses in the precious metal. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand. However, caution ahead of US GDP data, jobless claims and pending home sales data which may influence the country’s monetary policy outlook weighed on sentiment. Gold futures may trade lower today amid caution ahead of key US data. Gold futures for October 2014 contract, at MCX, closed at Rs. 27,780 per 10 grams, down by 0.41 per cent, after opening at Rs. 27,863, against the previous closing price of Rs 27,895. It touched an intra-day low of Rs 27,765 .

COPPER

Copper futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after consumer confidence in Germany fell for the first time in one and a half years in August 2014, signaling a faltering recovery in Europe’s biggest economy, darkening the demand outlook for industrial metals. The gauge measuring consumer confidence in Germany fell to 8.9 this month from 8.6 in July, the biggest drop since May 2011, GfK said. All eyes are on the European Central Bank (ECB) which will announce its policy decision next week amid speculation of fresh easing measures to boost the sagging 18-member economy. At the MCX, Copper futures for August 2014 contract closed at Rs. 422.85 per 1 kg, down by 0.73 per cent, after opening at Rs. 425, against the previous closing price of Rs. 425.95. It touched an intra-day low of Rs 421.75

CRUDE OIL

Crude oil futures were trading higher in the domestic market on Thursday as a dip in oil and gasoline stockpiles in the US signaled a pickup in fuel demand in the world’s biggest crude oil consumer. While crude stockpiles fell 2 million barrels last week, gasoline supplies declined 960,000 barrels to 212.3 million barrels, the EIA said. All eyes are on the Q2 US GDP data to be released today which is expected to confirm an annualized growth of 4 per cent after a surprise contraction in the previous quarter when bad weather played spoilsport. At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,685 per barrel, up by 0.18 per cent, after opening at Rs 5,686, against a previous close of Rs 5,675. It touched an intra-day high of Rs 5,693. (At 11:01 AM).

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DAILY COMMODITY REPORT FROM RESEARCH VIA 29/AUG/2014

Precious Metals

 

DAILY BUZZ

GOLD

Gold futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal as a drop in bullion-backed holdings signaled weakening investment demand for the yellow metal. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell to 795.60 tons on Wednesday from its previous close of 797.09 tons on Tuesday. However, a weaker dollar boosted the appeal of gold as an alternative asset, curbing losses in the precious metal. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand. However, caution ahead of US GDP data, jobless claims and pending home sales data which may influence the country’s monetary policy outlook weighed on sentiment. Gold futures may trade lower today amid caution ahead of key US data. Gold futures for October 2014 contract, at MCX, closed at Rs. 27,780 per 10 grams, down by 0.41 per cent, after opening at Rs. 27,863, against the previous closing price of Rs 27,895. It touched an intra-day low of Rs 27,765

Base Metals & Energy 

DAILY BUZZ

COPPER

Copper futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after consumer confidence in Germany fell for the first time in one and a half years in August 2014, signaling a faltering recovery in Europe’s biggest economy, darkening the demand outlook for industrial metals. The gauge measuring consumer confidence in Germany fell to 8.9 this month from 8.6 in July, the biggest drop since May 2011, GfK said. All eyes are on the European Central Bank (ECB) which will announce its policy decision next week amid speculation of fresh easing measures to boost the sagging 18-member economy. At the MCX, Copper futures for August 2014 contract closed at Rs. 422.85 per 1 kg, down by 0.73 per cent, after opening at Rs. 425, against the previous closing price of Rs. 425.95. It touched an intra-day low of Rs 421.75

CRUDE OIL

Crude oil futures were trading higher in the domestic market on Thursday as a dip in oil and gasoline stockpiles in the US signaled a pickup in fuel demand in the world’s biggest crude oil consumer. While crude stockpiles fell 2 million barrels last week, gasoline supplies declined 960,000 barrels to 212.3 million barrels, the EIA said. All eyes are on the Q2 US GDP data to be released today which is expected to confirm an annualized growth of 4 per cent after a surprise contraction in the previous quarter when bad weather played spoilsport. At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,685 per barrel, up by 0.18 per cent, after opening at Rs 5,686, against a previous close of Rs 5,675. It touched an intra-day high of Rs 5,693. (At 11:01 AM)

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TODAY'S PRECIOUS METAL REPORT FROM RESEARCH VIA

DAILY BUZZ

SILVER

Silver prices fell by Rs 211 to Rs 42,130 per kg in futures trade today as speculators engaged in reducing positions largely in tune with a weakening trend overseas.

At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 211, or 0.50 per cent, to Rs 42,130 per kg in a business turnover of 331 lots.

Similarly, the white metal for delivery in far-month December declined by Rs 181, or 0.42 per cent, to Rs 42,897 per kg in a business volume of 35 lots.

In the international market, silver fell 0.41 per cent to $ 19.37 an ounce in Singapore.

Market analysts said a subdued trend in the global markets as minutes of the Federal Reserve's last meeting signalled that policy makers may increase borrowing costs earlier than expected amid strengthening dollar, reducing appeal of precious metals, put pressure on silver futures here.

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DAILY BASE METAL REPORT FROM RESEARCH VIA 21/Aug/2014

Base Metals & Energy

DAILY BUZZ

ZINC

Zinc futures edged up by 0.36 per cent to Rs 141.25 per kg today as speculators enlarged positions on positive cues from global markets and better domestic demand.

At the Multi Commodity Exchange, zinc for delivery in September was up by 50 paise, or 0.36 per cent, to Rs 141.25 per kg, with a business turnover of 20 lots.

The metal for delivery in current month also rose by 45 paise, or 0.32 per cent, to Rs 140.70 per kg in a business volume of 233 lots.

Marketmen said besides improved demand in the domestic spot market, a firming trend in the metal overseas as stockpiles fell and after a jump in US home building increased speculation that demand is rising in the second- biggest user of industrial metals, supported the rise zinc prices at futures trade here.

Meanwhile, inventories tracked by the London Metal Exchange fell for the second day to 736,525 tonnes, according to exchange data.

Globally, zinc for delivery in three months rose as much as 0.4 per cent to $ 2,312 a metric tonne at the LME.

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DAILY COMMODITY REPORT 29/JULY/2014

Precious Metals

DAILY BUZZ

SILVER

Silver prices recovered by 0.46 per cent to Rs 44,483 per kg in futures trading on Monday as speculators enlarged positions even as the metal weakened in global markets.

At the Multi Commodity Exchange, silver for delivery in September rose by Rs 202, or 0.46 per cent, to Rs 44,483 per kg in business turnover of 541 lots.

Likewise, the white metal for delivery in far-month December traded higher by Rs 141, or 0.29 per cent, to Rs 45,200 per kg in 7 lots.

Analysts said speculative positions built up by participants helped silver futures trade to trade higher but a weak trend in bullion limited the gains. Meanwhile, silver traded 0.50 per cent lower at $20.63 an ounce in Singapore.

Base Metals & Energy

DAILY BUZZ

CRUDE OIL

Crude oil futures fell 0.52 per cent to Rs 6,118 per barrel on Monday as speculators reduced their positions amid a weakening trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 32, or 0.52 per cent, to Rs 6,118 per barrel in 1,025 lots. In a similar manner, the oil for September delivery moved down by Rs 21, or 0.34 per cent, to Rs 6,088 per barrel in 32 lots.

Meanwhile, West Texas Intermediate (WTI) crude for September delivery dipped 51 cents to $101.58 while Brent crude for September declined 43 cents to $107.96 a barrel at the New York Mercantile Exchange in late morning trade on Monday.

ALUMINIUM

Aluminium futures edged higher by 0.25 per cent to Rs 119.90 per kg today as speculators enlarged positions amid pick-up in demand at spot markets. Besides, a firming trend in base metals at the London Metal Exchange (LME) also supported the upside. At the Multi Commodity Exchange, Aluminium for delivery in July rose 30 paise, or 0.25 per cent, to Rs 119.90 per kg, with a business turnover of 163 lots. The metal for delivery in August also rose by a similar margin to trade at Rs 120.70 per kg in a turnover of 22 lots. Marketmen said apart from a firming trend in base metals pack at the LME, rising demand at spot markets influenced aluminium prices at futures trade here. 

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DAILY MCX BASE METAL REPORT 21/JULY/2017

Base Metals & Energy

 

DAILY BUZZ

LEAD

Lead prices fell by 0.26 per cent to Rs 132.55 per kg in futures trading today as speculators reduced positions due to decline in demand from battery-makers in the spot market.

At the Multi Commodity exchange, lead for delivery in August contracts traded lower by 35 paise, or 0.26 per cent to Rs 132.55 per kg in business turnover of one lot.

Likewise, the metal for delivery in July contracts shed 30 paise, or 0.23 per cent to Rs 131.40 per kg in 176 lots.

CRUDE OIL

Crude oil prices rose by 0.56 per cent to Rs 6,256 per barrel today after participants indulged in creating speculative positions, tracking a firming trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 35, or 0.56 per cent higher at Rs 6,256 per barrel, with a business turnover of 1,128 lots.

The oil for August also moved up by Rs 25, or 0.40 per cent, to Rs 6,205 per barrel, with a business volume of 154 lots.

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DAILY BASE METAL REPORT FROM RESEARCH VIA

Base Metals & Energy

DAILY BUZZ

ZINC

Zinc traded higher by 0.33 per cent to Rs 138.25 per kg in futures market today as speculators enlarged positions amid a firming global trend and rising domestic demand.

At the Multi Commodity Exchange, zinc for delivery in July edged up by 45 paise, or 0.33 per cent, to Rs 138.25 per kg in a business turnover of 4,553 lots.

In a similar fashion, the metal for delivery in August traded higher by a similar margin to Rs 138.90 per kg in 212 lots.

NICKEL

Nickel prices moved up by 0.28 per cent to Rs 1,161.70 per kg in futures trading today after speculators enlarged positions, tracking a firm trend at spot market on rising demand from alloy-makers.

However, metal weakened at the London Metal Exchange (LME).

At the Multi Commodity Exchange, nickel for delivery in July rose by Rs 3.20, or 0.28 per cent to Rs 1,161.70 per kg in business turnover of 3448 lots.

Similarly, the metal for delivery in August contract edged up by Rs 2.20, or 0.19 per cent to Rs 1,168.20 per kg in 114 lots. 

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TODAY'S COMMODITY MCX REPORT FROM RESEARCH VIA

Precious Metals

DAILY BUZZ

SILVER

Silver prices fell by 0.74 per cent to Rs 45,727 per kg in futures trade today amidst profit-booking by speculators and a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 341, or 0.74 per cent, to Rs 45,727 per kg in a business turnover of 753 lots.

Similarly, the white metal for delivery in December declined by Rs 356, or 0.72 per cent, to Rs 46,581 per kg in a business volume of 33 lots.

In the international market, silver traded lower at USD 21.43 an ounce in Singapore from USD 21.44 on July 11.

Market analysts said apart from profit-booking by participants, a weak trend in global markets led to the fall in silver prices at futures trade here. 

Base Metals & Energy 

DAILY BUZZ

COPPER

Copper futures fell 0.15 per cent to Rs 442.30 per kg today as speculators trimmed positions to book profits amidst a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in November declined by 65 paise, or 0.15 per cent, to Rs 442.30 per kg in a business turnover of 41 lots.

The metal for delivery in August shed 50 paise, or 0.11 per cent, to Rs 436.05 per kg in a business volume of 540 lots.

NICKEL

Nickel prices eased by 0.11 per cent to Rs 1,169.10 per kg in futures trade today amid a weakening trend at the London Metal Exchange and sluggish demand from alloy-makers in the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in August shed Rs 1.30, or 0.11 per cent, to Rs 1,169.10 per kg in a business turnover of 31 lots.

The metal for delivery in July also fell by Rs 1.20, or 0.10 per cent, to Rs 1,162.50 per kg in a turnover of 483 lots.

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