DAILY COMMODITY REPORT FROM RESEARCH VIA 3/OCT/2014

GOLD

Gold futures fell in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as faster than expected US economic growth last quarter vindicated the US Federal Reserve’s decision to end bond buying while dampening safe haven demand for the bullion, and denting bullion’s appeal as an inflation hedge. The US economy grew by an annualized 3.5 per cent in the July-September 2014 quarter, beating estimates of a 3 per cent gain. Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange traded product fell to a six year low, signaling weak investment demand for the precious metal. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,345 per 10 grams, down by 0.97 per cent, after opening at Rs. 26,563, against the previous closing price of Rs 26,603. It touched an intra-day low of Rs 26,335. (At 11:36 AM).

SILVER

Silver prices hit a four-year low on Friday morning following losses in the world market. At 0611 GMT, the actively traded December contract on India's Multi Commodity Exchange was down 1.83 per cent at Rs 35,903 per kilogram, after falling to Rs 35,866 earlier in the day, the lowest level since October 29, 2010. In the overseas market, silver tumbled to its lowest since early 2010, as strong US economic data and fears of an early rate hike curbed the metal's appeal.

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TODAY'S GOLD UPDATES FROM RESEARCH VIA 8/OCT/2014

GOLD

Gold prices fell by 0.16 per cent to Rs 26,678 per ten grams in futures trade today as speculators indulged in trimming positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 43, or 0.16 per cent, to Rs 26,678 per ten grams in a business turnover of 409 lots.

Similarly, the metal for delivery in February 2014 contracts lost Rs 21, or 0.08 per cent, to Rs 26,883 per ten grams in a business turnover of just one lot.

Analysts attributed the fall in gold futures to trimming of positions by speculators in tandem with a weak global trend as the dollar advanced towards a four-year high, reducing demand for precious metals as an alternative investment.

Meanwhile, gold fell 0.4 per cent to $1,203.02 an ounce in Singapore in early trade today. 

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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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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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TODAY'S COMMODITY MCX REPORT FROM RESEARCH VIA

Precious Metals

DAILY BUZZ

GOLD

Gold futures fell in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market amid speculation that a faster than anticipated recovery in the US labour market may prompt the US Federal Reserve to raise interest rates sooner than currently expected, dimming the appeal of the bullion as a store of value. US Fed Chairman Janet Yellen said that the Fed could hike borrowing costs sooner than earlier expected if labour market progress continued at a rapid than anticipated rate. A stronger dollar also dimmed the appeal of the bullion as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,770 per 10 grams, down by 0.15 per cent, after opening at Rs. 27,774, against the previous closing price of Rs 27,813. It touched an intra-day low of Rs 27,773.

Base Metals & Energy 

DAILY BUZZ

CRUDE OIL

Crude oil futures rose in the domestic market on Monday as the depreciation in the Indian rupee against the US dollar more than offset the losses in the energy commodity in the overseas market. A weaker rupee against the greenback exerts upward pressure on domestic crude oil prices. Crude futures fell in the overseas market amid speculation that the conflict in the Middle East won’t disrupt supplies as Libya’s oil output rose even as Islamic militants seized Tripoli’s international airport while supply from Iraq, the OPEC’s second biggest oil producer remained intact despite the country’s inability to form a new government. At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,686 per barrel, up by 0.12 per cent, after opening at Rs 5,690, against a previous close of Rs 5,679. It touched an intra-day high of Rs 5,695.

ZINC

Zinc prices fell by 0.28 per cent on Monday at the domestic markets after German business confidence deteriorated to the lowest level in more than a year in August, dampening optimism over the health of the euro zone’s largest economy which reduced the demand outlook for the metal. German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 106.3 this month, below forecasts for 107.0 and down from a reading of 108.0 in July. Zinc futures for August 2014 contract, at MCX, were trading at Rs 141.45 per kg, down by 0.28 per cent after opening at Rs. 142.20 against the previous closing price of Rs. 141.85. It touched the intra-day low of Rs. 141.20 till the trading.

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DERIVATIVE DAILY ANALYSIS 25/Aug/2014

India Indices- On Friday market Nifty Index opened 13.45 points up at 7904.55 in positive from the previous day closing 7891.10 and closed in positive at 7913.20. Nifty index opened positive but we saw selling in Nifty and near 12.30 o’clock Nifty traded with the day low of 7900.05 after noon again Nifty recovered and we saw hyper buying in Nifty and near the closing of the market Nifty Index traded with the life time high of 7929.05 and closed positive at 7913.20 with +0.28%, +22.10 points up. And the full day Nifty Index traded between 7929.05-7900.05. At the end of the day Nifty futures Gained +0.42%, +33.55 points up to close at 7936.70 from the previous day closing at 7903.15 with premium of 23.20 points and percent change in open interest of +2.50%.

Bank Nifty –Bank Nifty index opened up at 15699.05 with +36.85 points up from the previous day closing at 15662.20 and closed positive at 15819.15. Bank Index opened up with the day low of 15696.30 and the Full market day we saw continuous buying, and near the closing of the market Bank Index traded with the day high of 15865.30 and closed in positive at 15819.15 with +1.00%, +156.95 points up, and the full day Bank Nifty Index traded between 15865.30-15696.30. At the end of the market day Bank Nifty futures Gained +1.12%, +176.15 points up to close at 15847.85 from the previous day closing at 15671.70 with the daily premium of +28.70 points and percent change in open interest of +8.05%.

Nifty Futures- Nifty futures opened at 7912.20 with +9.05 points up from the previous day closing at 7906.30. From the morning we saw normal selling in Nifty and near 12.30 o’clock Nifty traded with the day low of 7906.30 but after noon Nifty moved up with continuous buying and near the closing of the market Nifty traded with the life time high of 7939.80 and closed positive at7936.70. And the full day Nifty Futures traded between 7939.80-7906.30 At the end of the day Nifty futures Gained +0.42%, +33.55 points up to close at 7936.70 from the previous day closing at 7903.15 with premium of 23.20 points and percent change in open interest of +2.50%.

DAILY PIVOTS

INDEX	S2	S1	PP	R1	R2
NIFTY	7885	7899	7914	7928	7943
BANKNIFTY	15625	15722	15794	15891	15963
SENSEX	26312	26366	26437	26491	26562

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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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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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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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