Gold prices rush to near two-year high as festive season spurts demand

Ahead of the festive season, gold prices are trading near a two-year high at Rs31,950-levels on the Multi Commodity Exchange of India (MCX). Gold futures on the MCX have climbed 6.14% in the last three months, while overseas gold has gained 2.48% in the same period.

Prices of gold in the local markets have climbed due to a weak rupee. Besides, increased buying by local jewelers in the domestic spot market to meet festive season demand has also fuelled the uptrend.

The most auspicious day of the year to buy gold is Dhanteras, which falls on November 5, two days before the Hindu festival of Diwali. Wearing or gifting of jewelry in this period is thought to bring good fortune during celebrations and weddings.

Furthermore, MCX gold price, on the weekly chart, has given a breakout of its symmetrical triangle pattern at Rs31,420-levels. On the other hand, gold prices are also trading above its 100-DEMA (day exponential moving average) on the weekly chart, which indicates that the medium-term trend remains up. 

Also, momentum indicator MACD has also shown a positive crossover on the weekly chart, which suggests more upside momentum in the prices in the coming trading sessions. COMEX gold price has also given a breakout of its consolidation range from $1,214.20 to $1,174-levels.

Currently, COMEX gold is trading near its three-month-high, which supports our bullish view on the commodity. In the near term, we expect that MCX gold futures prices could move higher towards Rs33,050-levels.

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Commodity market outlook for August 21, 2018

Bullions View

Prices gave a gap up opening in the previous session and remained positive throughout the session, even though the move was small. The outlook remains positive as the structure is positive. COMEX gold and silver also inched higher early in the session with gains of over half percent.  

MCX silver needs to give a close above 37,000 levels to gain momentum, while gold has started moving in the upward direction. However, RSI is still ranging between 60-40 levels giving no clear view on the direction. The favored view remains bullish.

Energy View

Crude oil prices took support at 4,550 levels and inched higher in the previous session. Once it breaks 4,650, Dow theory would be confirmed, and we could then expect some strong positive move in crude oil, which would head prices towards 4,780. Outlook for natural gas still remains bearish as prices are not surpassing its previous highs, while at the same time, it is touching new lows.

Base Metals View

We saw lead remain weak, while other metals inched higher during the previous session. Outlook for lead remains bearish, while copper and zinc would continue to remain bullish. Immediate resistance for copper lies near 413.50, while for nickel, it is at 955. If we see lead move above 140, the outlook may change to positive.

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कमोडिटी बाजार में आज क्या हो रणनीति

पिछले हफ्ते भारी गिरावट के बाद कच्चे तेल पर आज भी दबाव कायम है। ब्रेंट का दाम लगातार 72 डॉलर के नीचे है। दरअसल टर्की संकट और अमेरिका और चीन में ट्रेड वॉर से क्रूड की मांग घटने की आशंका है। ऐसे में कीमतों पर चौतरफा मार पड़ रही है। 

इस बीच सोना हालांकि 1.5 साल के निचले स्तर से करीब 25 डॉलर संभल गया है और कॉमेक्स पर ये 1185 डॉलर के स्तर पर कारोबार कर रहा है। 

पिछले हफ्ते से 1160 डॉलर तक लुढ़क गया था। आज चांदी में ऊपरी स्तर से दबाव है और ये करीब एक चौथाई परसेंट नीचे है।

उधर अमेरिका और चीन में ट्रेड टॉक की उम्मीद से मेटल को सपोर्ट मिला है और कॉपर का दाम लंदन मेटल एक्सचेंज और शांघई एक्सचेंज पर करीब 0.5 फीसदी बढ़ गया है। 

पिछले हफ्ते ये 1 साल के निचले स्तर पर लुढ़क गया था। आज डॉलर के मुकाबले रुपये में शानदार रिकवरी आई है और 1डॉलर की कीमत 69.90 रुपये के नीचे आ गई है।

अधिक जानकरी के लिए अपना नंबर तुरंत रजिस्टर करे और ज्यादा से ज्यादा मुनाफा कमाए शेयर बाजार से 

Commodity Market Update for August 07, 2018

Bullions View

Gold prices have been trading in a declining channel formation since the past few weeks. Recently, it has taken support near the lower band at 29,550 levels and inched higher. Hence, we expect prices to move higher towards the upper band levels of 29,880. 

While it breaks the upper band resistance of 29,880 levels, it could inch higher towards 30,050 levels.

Energy View

Crude oil prices are trading in a broad range of 4,600-4,830 levels. The bias remains positive for this week. We expect prices to rally towards the upper band and if broken, a 300 points upside can be witnessed in the short-term. 

Prices are stuck near the upper band of the broadening pattern. Hence, as long as the upper band levels of 197 is capped on the higher side, profit-booking can be expected.

Base Metals View

Copper prices are trading near their crucial support levels of 414. If it breaches 414 levels, we could see a fall of Rs4 in quick time followed by a fall of Rs10. 

Hence, the 414 levels should not be taken out on a daily closing basis for copper to remain in positive trend. Aluminum, on the other hand, took support near 138.50 levels and inched higher as per our expectation. We saw some positive move in nickel and lately in lead as well.

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Commodity market outlook for August 06, 2018

Bullions View

Bullions inched higher on Friday, which initially witnessed a gap down opening but later went higher. Prices took support from a lower band of the declining channel formation formed on hourly charts and inched higher, while silver initially slipped below its support of 37,880 levels but failed to remain lower and moved higher giving positive close on Friday’s session. 

For now, as long as silver is trading above 37,750 levels, the outlook remains bullish for upside target of 38,600 mark.

Energy View

Crude oil prices slipped lower on Friday; however, there has been no change in outlook, which is positive. As long as 4,600 mark is protected on the lower side, we still believe that prices could move towards the 4,830 mark in the coming few sessions. 

The momentum indicator, RSI is above the 40 mark, which is again giving a positive sign that prices have the potential to trade higher.

Base Metals View

All the other metals remained in a small range on Friday’s session, with only nickel and zinc gaining over 1%. Chart structure of nickel is strong along with copper, while zinc is trading below its resistance of 182.30 levels. If we see zinc moving above 182.30 levels, it could head higher towards 184 levels going forward. 

Aluminum, on the other hand, is trading above its multiple support levels of 138.50, below which outlook may turn bearish.

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Commodity Market outlook for August 03, 2018

Bullions View

As per our view, bullion prices dropped in the previous session. Gold fell below 29,670, which was acting as a support level. However, silver prices are still trading above its multiple support of 37,850 levels. 

If silver prices breach 37,850 levels, then it may drift lower towards the 37,600/37,400 mark. Failing to this could head silver prices towards the 38,200 level. Outlook for gold would remain bearish as long as the prices are trading below the 29,800 mark.

Energy View

Crude oil prices failed to move below the 4,600 mark and moved sharply up towards the 4,750 level. Further, we expect prices should continue to move up towards the 4,800 level going forward. 

The momentum indicator, RSI has also inched above the 60 mark on hourly charts adding bullishness to the prices. Natural gas prices moved up in the previous session post inventories data, where prices gained around 2.5%. Outlook remains positive going forward.

Base Metals View

Metal prices remained volatile in the previous session, where initially prices headed higher followed by a decline in the second half. Zinc prices remained in trading range of 174–182, while nickel and copper traded flat. 

We saw aluminum prices broke its support of 139.70 and closed below that. Going forward, aluminum should remain weak while zinc and copper should trade higher in the session to come.

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Commodity Market outlook for August 02, 2018

Bullions View

In the previous session, bullions remained volatile. Prices dragged down during the second half. Further, gold and silver both closed below their support levels. 

We expect prices to remain under pressure as long as they are trading below their support levels of 29,800 and 38,150, respectively. For gold and silver. RSI on the hourly charts also fell below the 40 mark adding bearishness to prices.

Energy View

Crude oil prices traded in line with our bearish outlook, dipping 2% in the previous session. In the first half, prices broke its support of 4,700 levels and remained lower throughout the session. Immediate support lies near 4,600 levels; if taken out, a further 100 points downward movement will be seen going forward. 

Conversely, if it holds at 4,600 levels and moves above 4,650 levels, prices could bounce back till 4,700 levels, followed by 4,750 levels in the upcoming sessions.

Base Metals View

Metal prices remained weak in the previous session. They were down over 1.5%, while nickel lost over 5%, compared with the preceding session. For copper, immediate support lies near 410 levels. On the other hand, zinc, nickel, and lead closed near the support levels of 174.90, 917 and 145.50, respectively. 

Aluminum closed near a 78.6% retracement level of its prior upward movement of 138.10-145.30. Hence, we could expect some short covering in base metals as all were trading near their respective support levels.

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Commodity market outlook for August 01, 2018

Bullions View

In the previous session, we saw that prices remained under pressure but failed to give the close below their psychological support levels. 

Gold prices managed to give a close above its lower band support level of 29,770. At the same time, silver managed to hold its support of 38,000 levels. 

Going forward, we could see a volatile trading session as crucial US data is expected in the evening. Hence, bullions should be traded cautiously with strict stop loss.

Energy View

In yesterday’s session, we saw weak trade in crude oil where prices didn’t hold up above its resistance level of 4,830. 

They drifted lower below its uptrend line support level of 4,750. Also, the momentum indicator, RSI fell below the 40 mark on hourly charts adding bearishness to the prices. 

However, today oil inventories would further guide on the upcoming prices movements. Meanwhile, as per yesterday’s move, outlook will remain bearish.

Base Metals View

We saw some positive movements in zinc, lead and copper, while aluminum remained in a range and nickel traded sideways to positive. 

Initially, prices traded negatively but later they recovered. The chart structure for zinc and copper looks positive, but aluminum can be bought above the 143 mark.

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Commodity market outlook for July 31, 2018

Bullions View

MCX gold for October contract is trading in a Falling Wedge pattern where recently prices had taken support at lower band around 29,800 and is inching higher. 

Once it breaks the upper band resistance of 30,050, we could see a sharp up move towards 30,300 followed by 30,500. On the other hand, if it breaches the lower band support of 29,775, gold prices could decline towards the 29,500 mark. However, bias remains positive for gold going forward.

Energy View

Crude oil prices are showing signs of reversal from its lower levels by giving an hourly close above the upper band resistance of 4,800. Also, the momentum indicator, RSI has also gone above 60 mark on the hourly charts, giving positive confirmation. 

Crude oil can head higher towards the 5,000 mark in the coming sessions. A small dip near 4,770 can also be considered as buying opportunity.

Base Metals View

As long as base metals are concerned, lead, nickel and aluminium remained strong in the previous session, while copper remained flat and zinc gave a negative close. 

Outlook remains positive for metals as structure for all metals look bullish. For aluminium, immediate resistance lies near 141.80, above which we may see prices heading higher towards 143.50. Lead, on the other hand, can inch higher towards 148.80 going forward.

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कमोडिटी बाजार में आज क्या हो रणनीति

डॉलर के मुकाबले रुपये में आज हल्की मजबूती आई है। हालांकि इसके बावजूद डॉलर की कीमत 69 रुपये के ऊपर बनी हुई है। 

इस बीच ग्लोबल मार्केट सोने की कीमतों पर आज भी दबाव है और ये लगातार दूसरे दिन 1220 डॉलर के नीचे बना हुआ है। इस हफ्ते सोने में करीब 2 फीसदी की गिरावट आ चुकी है। 

दरअसल चीन और भारत में सोने की मांग में कमी आई है। वहीं डॉलर में भी मजबूती है। ऐसे में सोने की कीमतों पर दोहरी मार पड़ रही है।

चांदी भी एक साल के निचले स्तर पर है। दरअसल बेस मेटल में आई भारी गिरावट से चांदी पर चौतरफा मार पड़ रही है। अमेरिका और चीन के बीच ट्रेड वॉर की वजह से कॉपर एक साल के निचले स्तर पर है। 

आज लंदन मेटल एक्सचेंज पर आज इसने 6 हजार डॉलर के भी नीचे का स्तर छू लिया है। बाकी मेटल में भी करीब 1 से 1.5 फीसदी की गिरावट का रुख है। 

इस बीच मौसम विभाग ने बंगाल, ओडिशा, राजस्थान और आंध्रप्रदेश में भारी बारिश की चेतावनी दी है।

अधिक जानकरी के लिए अपना नंबर तुरंत रजिस्टर करे और ज्यादा से ज्यादा मुनाफा कमाए कमोडिटी बाजार से 

Gold prices inch up amid Brexit uncertainty, subdued dollar

Spot gold was up 0.1 per cent at $1,258.12 an ounce at 0057 GMT. The metal touched its highest since June 26 at $1,265.87 on Monday. 

US gold futures for August delivery were 0.1 per cent lower at $1,258.70 an ounce. 

The dollar index, which measures the greenback against a basket of six major currencies, was steady at 94.028. It fell to its lowest since mid-June in the previous session. 

Prime Minister Theresa May's foreign minister and Brexit negotiator quit on Monday in protest at her plans to keep close trade ties with the European Union after Britain leaves the bloc, stirring rebellion in her party's ranks. 

The Bank of Japan maintained its upbeat economic assessment for all nine regions of the country but some areas saw companies fret about rising costs from labour shortages, a sign that a tightening job market could constrain business activity. 

Speculators raised their net long position in COMEX gold contracts in the week to July 3, US Commodity Futures Trading Commission data showed on Monday. 

Canadian miner Barrick Gold Corp and China's Shandong Gold on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions. 

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Gold prices rebound to one-week high amid trade tensions

Gold prices rose to a one-week high early on Wednesday, rebounding from a seven-month low touched in the previous session, as the dollar weakened against the yen and an end-of-week deadline loomed for US tariffs on Chinese imports. 

Spot gold was up 0.4 per cent at $1,257.51 an ounce as of 0058 GMT. It touched a one-week high of $1,257.63 earlier in the session. The metal fell to $1,237.32, its lowest since Dec. 12, in the previous session. 

US gold futures were 0.4 per cent higher at $1,258.70 an ounce. 

The dollar was down 0.2 per cent against the yen at 110.3 

China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump's trade policies at a summit later this month but is facing resistance, European officials said. 

US Secretary of State Mike Pompeo will visit Mexico on July 13 to meet President-elect Andres Manuel Lopez Obrador and discuss immigration, trade, security and development, the US and Mexican governments said on Tuesday. 

The Bank of Japan is likely to cut its price growth forecasts at a policy meeting later this month as long-term inflation expectations stall, sources said, highlighting the bank's difficulty in hitting its elusive price target. 

Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund fell 0.73 per cent to 803.42 tonnes on Tuesday. 

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कमोडिटी बाजार में आज कहां लगाएं दांव

पिछले हफ्ते 5 फीसदी की जोरदार तेजी के बाद कच्चे तेल में आज तेज गिरावट आई है और ब्रेंट का दाम 1.5 फीसदी फिसल गया है। 

दरअसल अमेरिका ने दावा किया है कि सऊदी अरब कच्चे तेल की सप्लाई बढ़ाने को राजी हो गया है। सऊदी अरब ने कहा है कि जरूरत पड़ी तो वह क्रूड की सप्लाई जरूर बढ़ाएगा। वहीं डॉलर में आज रिकवरी भी आई है। ऐसे में कच्चे तेल की कीमतों पर दबाव बढ़ गया है। डॉलर में बढ़त का असर सोने और चांदी पर भी दिख रहा है। ग्लोबल मार्केट में दोनों में ही गिरावट पर कारोबार हो रहा है।

इस बीच चीन में एल्युमिनियम का दाम करीब 0.5 फीसदी गिर गया है। वहीं लंदन एक्सचेंज पर भी मेटल की चाल सुस्त है। आज डॉलर के मुकाबले रुपये में मजबूती आई है और डॉलर की कीमत 68.5 रुपये के नीचे आ गई है।

इस बीच मॉनसून पूरे देश में सक्रिय हो चुका है और भारतीय मौसम विभाग के मुताबिक अगले 24 घंटे में पूर्वोत्तर के कई इलाकों में भारी बारिश होने का अनुमान है। 

इसके अलावा हिमाचल प्रदेश, उत्तराखंड, बिहार, पंजाब और उत्तर प्रदेश के कुछ इलाकों में भी बारिश हो सकती है। हालांकि इस सीजन यूपी और गुजरात में काफी कम बारिश होने से खरीफ की बुआई में करीब 20 फीसदी की भारी कमी दिख रही है।

अधिक जानकरी के लिए अपना नंबर  रजिस्टर करे और ज्यादा से ज्यादा मुनाफा कमाए शेयर बाजार से 

कमोडिटी बाजार में आज क्या हो रणनीति

सोने की चमक फीकी पड़ गई है। ग्लोबल मार्केट में सोना इस साल की पूरी तरह गंवा चुका है। कॉमेक्स पर इसमें 1265 डॉलर पर कारोबार हो रहा है जो पिछले 7 महीने का निचला स्तर है। इस साल के ऊपरी स्तर से इसका भाव करीब 7 फीसदी लुढ़का चुका है। घरेलू बाजार में भी सोना 3 महीने के निचले स्तर पर है। इस बीच चांदी में भी गिरावट बढ़ गई है और ये 16.25 डॉलर के पास है।

उधर सप्लाई बढ़ाने में ईरान की ओर से ओपेक को साथ मिलने की उम्मीद से कच्चे तेल में गिरावट आई है। ब्रेंट का दाम 75 डॉलर के नीचे है। कल विएना में ओपेक की अहम बैठक है, जहां क्रूड की सप्लाई बढ़ाने पर फैसला हो सकता है। वहीं चीन में कर्ज सस्ता होने की उम्मीद से लंदन मेटल एक्सचेंज पर कॉपर 3 हफ्ते के निचले स्तर से संभल गया है। इसमें करीब 0.5 फीसदी ऊपर कारोबार हो रहा है।

इस बीच जापान की एजेंसी ने भारत में जून-अगस्त के दौरान सामान्य से कम बारिश की आशंका जताई है। वैसे इस सीजन अब तक सामान्य से 7 फीसदी कम बारिश हुई है जिसमें उत्तर पश्चिम भारत को लेकर चिंता ज्यादा है। वहीं डॉलर के मुकाबले रुपये में कमजोरी है और एक डॉलर की कीमत 68 रुपए 20 पैसे पर पहुंच गई है। 

उधर सप्लाई बढ़ाने में ईरान की ओर से ओपेक को साथ मिलने की उम्मीद से कच्चे तेल में गिरावट आई है। ब्रेंट का दाम 75 डॉलर के नीचे है। कल विएना में ओपेक की अहम बैठक है, जहां क्रूड की सप्लाई बढ़ाने पर फैसला हो सकता है। वहीं चीन में कर्ज सस्ता होने की उम्मीद से लंदन मेटल एक्सचेंज पर कॉपर 3 हफ्ते के निचले स्तर से संभल गया है। इसमें करीब 0.5 फीसदी ऊपर कारोबार हो रहा है।

इस बीच जापान की एजेंसी ने भारत में जून-अगस्त के दौरान सामान्य से कम बारिश की आशंका जताई है। वैसे इस सीजन अब तक सामान्य से 7 फीसदी कम बारिश हुई है जिसमें उत्तर पश्चिम भारत को लेकर चिंता ज्यादा है। वहीं डॉलर के मुकाबले रुपये में कमजोरी है और एक डॉलर की कीमत 68 रुपए 20 पैसे पर पहुंच गई है। 

तुरंत अपना नंबर रजिस्टर करे और ज्यादा से ज्यादा मुनाफा कमाए शेयर बाजार से 

Gold holds steady amid firm dollar, stronger equities

Gold prices were little changed on Wednesday, after slipping to a near six-month low in the previous session, as the dollar hovered close to an 11-month peak and equities rebounded. 

FUNDAMENTALS

Spot gold held steady at $1,273.82 an ounce by 0054 GMT. The metal fell to its lowest since Dec. 22 at $1,270 on Tuesday. 

US gold futures for August delivery were, however, 0.2 per cent lower at $1,276.10 per ounce. 

The dollar index , which measures the greenback against a basket of six major currencies, stood at 95.057, after advancing to an 11-month peak of 95.296 on Tuesday. 

China has underestimated US President Donald Trump's resolve to impose more tariffs unless it changes its "predatory" trade practices, a White House trade adviser said on Tuesday, as Trump greatly expanded the amount of Chinese imports possibly facing new duties. 

The European Central Bank will be patient in tightening policy further, President Mario Draghi said on Tuesday, adding that market pricings for its first post-crisis rate hike were consistent with its aim to move gradually. 

It would take a sizable economic shock for the European Central Bank to reverse its decision to end bond purchases by the close of the year, Irish central bank chief Philip Lane said on Tuesday. 

North Korea's Kim Jong Un and Chinese President Xi Jinping came to an understanding on issues that were discussed at a summit between the two leaders, including denuclearisation of the Korean peninsula, the North's state media said on Wednesday. 

Prospects have risen for negotiations between the Taliban and the United States after Afghan President Ashraf Ghani called a ceasefire and allowed militants to roam into cities in a gamble to encourage peace talks. 

Britain's opposition Labour Party is considering asking the Bank of England to target productivity to help boost the economy if it wins power, in what would be the most radical change to the central bank's remit in over two decades. 

Foreign investors have pulled about $5.5 billion out of emerging market economies since the US Federal Reserve's interest rate hike last week, data from the Institute of International Finance showed on Tuesday. 

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Oil prices rise amid Venezuela export concerns

Global oil prices rose during Asian trade on Wednesday after Venezuela raised the prospect of halting some crude exports, according to people familiar with the matter, but gains were capped amid reports the U.S. government had asked Saudi Arabia and some other OPEC producers to increase output.

Falling production from Venezuela has contributed to a rally in global oil price Brent to nearly $80 a barrel. State firm PDVSA is considering declaring force majeure on some exports, three sources told Reuters, amid plummeting output from its oil fields and tanker bottlenecks at ports.

Brent crude rose 27 cents to $75.65 a barrel by 0412 GMT after dropping to its lowest since May 8 on Tuesday. U.S. West Texas Intermediate (WTI) crude futures were up 29 cents at $65.81 a barrel, having touched a near two-month low on Tuesday.

The Organization of the Petroleum Exporting Countries and Russia will meet on June 22-23 to decide how much production they will increase as global inventories have tightened while Venezuela's production has dropped more than expected. U.S. sanctions on Iran are also threatening to reduce oil exports from the OPEC producer.

Reuters reported on May 25 that the producers were considering a supply increase of 1 million barrels per day, with a final decision to be made at the June meeting in Vienna.

WTI's discount to Brent narrowed 4 cents to $9.88 a barrel after industry data showed U.S. crude inventories fell by 2 million barrels, compared with analyst expectations for a decrease of 1.8 million barrels, American Petroleum Institute data showed.

Investors are waiting for the official inventories report to be issued by the U.S. Energy Department's Energy Information Administration at 1430 GMT.

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Gold prices steady amid rate hike prospects

Gold prices steadied early on Monday, after falling to the lowest in more than a week in the previous session, as expectations of an interest rate hike this month offset support from worries about a trade war. 

FUNDAMENTALS

Spot gold was nearly unchanged at $1,293.06 per ounce by 0111 GMT. It touched the lowest since May 23 at $1,289.12 an ounce in the previous session. 

US gold futures for August delivery were down 0.2 per cent at $1,297.10 per ounce. 

US job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8 per cent, pointing to rapidly tightening labor market conditions, which could stir concerns about inflation. 

The Federal Reserve should continue to raise rates gradually over the next two years, a US central banker said on Friday, with higher borrowing costs perhaps beginning to act as a brake on growth starting early next year. 

Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 1.25 per cent to 836.42 tonnes on Friday from 847.03 tonnes on Thursday. 

Hedge funds and money managers raised their net long position in COMEX gold contracts to the strongest since late April in the week to May 29, US Commodity Futures Trading Commission (CFTC) data showed on Friday. 

Gold demand in most Asian centres remained sluggish last week with prices stuck in a tight range, while an inauspicious period for buying the yellow metal dampened demand in major consumer India. 

US hedge fund Paulson & Co, led by long-time gold bull John Paulson, is set to name a group of investors that will work together to try to drive changes and better returns from gold mining companies after years of dismal industry performance, according to people familiar with the situation. 

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Stocks in focus on June 4, 2018

Strong global cues and Nifty futures on the Singapore Stock Exchange (SGX) signalled a positive start for domestic stocks on Monday. At 08:00 am, Nifty futures on SGX traded 44 points, or 0.41 per cent, higher at 10,723. 

Here is a list of stocks that are likely to be in focus in today's trading session - 

Idea Cellular: The board of Idea Cellular has called for an extraordinary general meeting (EGM) on June 26 to approve changing the name of ‘Idea Cellular Limited’ to ‘Vodafone Idea Limited’, as the merger of India's second and third ranked telcos nears completion. The EGM will also consider the board's plan to raise funds via nonconvertible securities of not more than Rs 15,000 crore, which may be used to pare debt, with the merged entity looking to strengthen its balance sheet  .. 

ICICI Bank: Capital markets regulator Sebi has said in a showcause notice that ICICI Bank’s chief executive Chanda Kochhar didn’t adhere to its code of conduct, which required the disclosure of any conflict of interest in the case involving Videocon Group and NuPower Renewables, a firm owned by her husband Deepak Kochhar, ET reported. The showcause notice also said that the bank indirectly violated the disclosure norms of the Securities and Exchange Board of India (Sebi) by not  .. 

Dr Reddy's: Dr Reddy'sLaboratories expects to launch over 15 products in the US market in 2018-19, according to a top company official. The Hyderabad-based drug major also remains optimistic for a double digit growth in the domestic market in the ongoing financial year. 

Cadila Healthcare: Zydus Cadila has received the final approval from the USFDA to market Doxycycline Hyclate capsules USP, 

antibiotic used for treating bacterial infections, Cadila Healthcare said on Saturday. "Zydus Cadila has received the final 

approval from the USFDA to market Doxycycline Hyclate Capsules USP, 50 mg and 100 mg," the company said in a regulatory 

filing. 

Auto stocks: Vehicle makers across segments posted strong sales for the second straight month in May, driven by a growing economy, launches and as customers advanced buying expecting price hikes. The Indian passenger vehicle market is estimated to have broken the 3-lakh-units-a-month barrier after eight months, with dispatches close to the peak volumes seen in last September which was a festive month. 

Coal India: Coal India will try out a new customer-friendly billing system for consumers with state-owned power major NTPCNSE -0.33 % on a pilot basis, in line with a global quality practice framework, PTI reported citing a top official. The new billing mechanism will compute prices on every unit of Gross Calorific Value (GCV( of coal, doing away with the grade policy at present. 

GMR Infra: The Maldivian government has slapped a notice seeking $20.5 million towards income tax and fines on GMR Male International Airport, a GMR group company, that won $271 million arbitration against the premature termination of Male International Airport contract. A GMR spokesperson refuted the tax claim by the island nation and said they are awaiting response from Maldives Airports Company Limited on the issue. 

Alembic Pharmaceuticals: Alembic Pharmaceuticals has earmarked a capital expenditure of Rs 720 crore for this fiscal year to complete existing projects and on maintenance, a senior company official said. The company had spent about Rs 600 crore of capex in the last fiscal year (FY18). 

PNB: HSBC has retained reduce rating on PNB and reduced target price to Rs 71 from Rs 92. The firm said it remains cautious despite significant underperformance due to a dim earnings outlook, significant capital erosion, and likely dilution given weak CET1 and low valuations. The firm expects the bank to report a loss for FY19 on the back of higher provisioning and slower loan growth. Shares of Punjab National Bank ended down 0.8 per cent at Rs 82.90 on Friday. 

Tata Motors: Global brokerge Nomura has maintained ‘Buy’ rating on the stock with target price of Rs 495. The brokerage expects 9 per cent growth in overall JLR volumes in 2018-19. 

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बाजार की तेज शुरुआत, सेंसेक्स 276 अंक मजबूत, निफ्टी 10750 के पार खुला

एशियाई बाजारों से मिले अच्छे संकेतों से सोमवार को घरेलू शेयर बाजार की शुरुआत बढ़त के साथ हुई। सेंसेक्स 276 अंकों की मजबूती के साथ 35,503 के स्तर पर खुला। वहीं निफ्टी की शुरुआत 70 अंकों की उछाल के साथ 10,766 के स्तर पर हुई। शुरुआती कारोबार में लार्जकैप के साथ मिडकैप और स्मॉलकैप शेयरों में भी तेजी देखने को मिल रही है। बैंक, मेटल, फार्मा समेत सभी शेयरों में खरीददारी दिख रही है।

ग्लोबल ट्रेड वार बढ़ा

अमेरिकी राष्ट्रपति डोनाल्ड ट्रम्प ने यूरोपियन यूनियन और कनाडा समेत अन्य देशों पर स्टील और एल्युमीनियम प्रोडक्ट पर इम्पोर्ट ड्यूटी बढ़ा दी है। यूरोपियन यूनियन ने जवाबी कार्रवाई में ट्रम्प प्रशासन के फैसले को वर्ल्ड ट्रेड ऑर्गेनाइजेशन (WTO) में चुनौती दी है। कनाडा भी अमेरिका के खिलाफ डब्ल्यूटीओ में चला गया है। इससे ग्लोबल स्तर पर ट्रेड वार की शुरुआत हो गई है जिसका असर शेयर बाजार पर पड़ेगा।

ड प्राइस पर नजर

मई में ब्रेंट क्रूड 80.50 डॉलर प्रति बैरल तक पहुंच गया था। हालांकि फिलहाल इसमें 4.6 फीसदी का करेक्शन हो चुका है औऱ ब्रेंट क्रूड का भाव 76.79 डॉलर प्रति बैरल पर आ गया है। एक्सपर्ट्स का कहना है कि क्रूड ऑयल की कीमतें बढ़ने का ऑयल इम्पोर्टिंग इकोनॉमी पर असर पड़ता है। भारत क्रूड का बड़ा इम्पोर्टर है, ऐसे में करंट अकाउंट डेफिसिट, फिस्कल डेफिसिट, इम्पोर्टेड इंफ्लेशन पर प्रतिकूल प्रभाव डालेगा जो इकोनॉमिक ग्रोथ के लिए हेडविंड बन सकता है। 

अधिक जानकी के लिए अपना नंबर तुरंत रजिस्टर करे और ज्यादा से ज्यादा मुनाफा कमाए शेयर बाजार से 

Crude oil eases on record US production, OPEC supply hopes

Crude oil futures lost more ground on Friday, with the U.S. market set for a second week of decline on pressure from record U.S. production and expectations of OPEC boosting output.

U.S. West Texas Intermediate crude lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday.

Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel.

For the week, WTI is on track for a 1.5 percent fall, adding to last week's near 5 percent decline, while Brent is set to rise 1.3 percent, widening the spread between the two benchmarks.

U.S. crude production has been rising to record-high levels since late last year. In March it jumped 215,000 barrels per day (bpd) to 10.47 million bpd, a new monthly record, the Energy Information Administration (EIA) said on Thursday.

"U.S. production is growing, the line is growing straight up when you look at U.S. production," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo.

"The big thing is the increasing spread between Brent and WTI. Financially it makes sense for buyers to take WTI as it is so cheap."

On Thursday, the premium for Brent over WTI surpassed $11 a barrel, the largest since early 2015. It has doubled in less than a month, as a lack of pipeline capacity in the United States has trapped a lot of output inland.

"A drop in inventories in the U.S. was overshadowed by U.S. output which jumped to a record-high level," ANZ said in a note.

U.S. crude stockpiles fell 3.6 million barrels last week, the EIA said, exceeding expectations for a decline of 525,000 barrels.

Russia would be able to raise its oil output back to pre-cut levels within months if there is a decision to unwind the price-protection deal with OPEC and other producers, a Russian energy ministry official said.

Concerns about U.S. bottlenecks are contributing to the decline in U.S. futures as well. Prices for physical barrels of U.S. light sweet crude delivered at Midland are at their largest discount to the benchmark U.S. futures price in almost four years.

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MCX crude may slide on oversupply concerns, Soybean futures to extend slide

Base metals may rebound on Thursday while crude oil is expected to trade with negative bias as oil prices dropped on Thursday weighed down by a surprise rise in US crude inventories and expectations that Opec and other producers could increase output at a meeting in June. 

Let's find out how key commodities are likely to trade in the domestic market: 

Crude Oil

Crude oil can take support near Rs 4,550 while it has a resistance near Rs 4,650 in MCXNSE -0.32 %, says SMC Global Securities. A possible production increase by the Organization of Petroleum Exporting Countries (Opec) and non-Opec members including Russia has been in focus, especially after Saudi Arabia, de facto leader of the oil cartel, and Russia have discussed boosting output by some 1 million barrels per day. 

Natural Gas: Natural gas may remain sideways as weather-related demand and weekly inventory data in the US will give further direction to the prices. Overall, it can move in the range of Rs 192 - Rs 200 on MCX. 

Base Metals

Copper: Copper can take support near Rs 454 and can face resistance near Rs 463. Indian electrical goods manufacturers will have to rely more on imported copper and are bracing for a rise in costs, after the government in Tamil Nadu this week ordered the permanent closure of Vedanta's copper smelter there, says SMC Global Securities.

Zinc, Lead: Zinc can trade with an upside bias as it can take support near Rs 209 and resistance near 215 while lead can take support near Rs 163 and can face resistance near Rs 167. 

Agri Commodities

Soybean futures (June) is likely to fall further towards Rs 3,500 levels. 

Mustard seed futures (June): is expected to trade with a downside bias and test Rs 3,860 levels taking negative cues from the spot markets. 

Chana futures: Chana futures (June) is expected to break the support near Rs 3,500 levels and fall further towards Rs 3,450 - Rs 3,400 levels. 

Bullion counter: Momentum indicator RSI (14) and MACD has shown bearishness with negative crossover for gold. "Therefore, we expect sideways to bearish movement in MCX gold prices," says Choice Broking. Meanwhile, Silver (July futures) can take support near Rs 39,700 and can face resistance near Rs 40,300. 

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Gold gains as Italy crisis drives safe-haven buying

Gold prices rose in early Asian trade on Wednesday as political turmoil in Italy and concerns over Sino- trade conflict spurred safe-haven demand. 

FUNDAMENTALS 

Spot gold had risen 0.3 per cent to $1,301.98 per ounce by 0125 GMT. 

Gold futures for June delivery were up 0.2 per cent at $1,301.50 per ounce. 

Italy may hold repeat elections as early as July after the man asked to be prime minister failed to secure support from major political parties for even a stop-gap government, sources said on Tuesday, as markets tumbled on the growing political turmoil. 

The United States said on Tuesday that it still holds the threat of imposing tariffs on $50 billion of imports from China and will use it unless Beijing addresses the issue of theft of American intellectual property. 

Asian shares looked set for a sharpNSE 0.00 % fall on Wednesday as Italy's political crisis provoked a sell-off on Wall Street, sent the euro to a 10-month low and spiked borrowing costs for the government in Rome. 

Benchmark 10-year Treasury yields posted their largest one-day drop on Tuesday since Britain voted to exit the European Union nearly two years ago. 

The Federal Reserve will have difficulty raising interest rates significantly beyond the settings of its Japanese and European counterparts, which are still pursuing accommodative policy, St. Louis Fed President James Bullard said on Tuesday. 

Interest rates futures rallied on Tuesday as traders slashed their expectations that the Federal Reserve would raise key overnight borrowing costs three more times in 2018 as Italy's political situation threatens European economic growth. 

A top North Korean official was headed to New York on Tuesday for talks with Secretary of State Mike Pompeo. 

Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, rose 0.35 per cent to 851.45 tonnes on Tuesday. 

Shandong Gold Group Co Ltd , China's largest gold producer, is hunting for gold around the world and is "looking forward to investing in Peru", the chairman of the company said during a presentation Tuesday. 

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कमोडिटी बाजार में आज क्या हो रणनीति

कच्चे तेल में भारी उठापटक हो रहा है। ब्रेंट में 3 हफ्ते के निचले स्तर से हल्की रिकवरी आई है और इसका दाम 75 डॉलर के पार चला गया है। जबकि नायमैक्स क्रूड में तेज गिरावट आई है। 

इसमें 67 डॉलर के नीचे कारोबार हो रहा है। दरअसल ओपेक करीब 10 लाख बैरल रोजाना उत्पादन बढ़ा सकता है। 

वहीं अमेरिका में भी क्रूड का उत्पादन लगातार बढ़ रहा है। ऐसे में कच्चे तेल की तेजी पर ब्रेक लग चुकी है।

इस बीच ग्लोबल मार्केट में सोने की चमक फिर से फीकी पड़ गई है। इसमें 1300 डॉलर के नीचे कारोबार हो रहा है। चांदी में करीब 0.5 फीसदी की गिरावट आई है। 

वहीं चीन में निकेल का दाम करीब 2.5 फीसदी उछल गया है। दरअसल लंदन मेटल एक्सचेंज पर ये करीब 1 फीसदी ऊपर कारोबार कर रहा है। 

हालांकि आज डॉलर के मुकाबले रुपये में जोरदार गिरावट आई है और रुपया करीब 0.5 फीसदी की कमजोरी के साथ कारोबार कर रहा है। एक डॉलर की कीमत 67.70 रुपये के पास पहुंच गई है।

अधिक जानकारी के लिए अपना नंबर तुरंत रजिस्टर करे और ज्यादा से ज्यादा मुनाफा कमाए शेयर बाजार से