COMMODITY MARKET STRATEGY 01 SEPTEMBER 2014

BASE METAL WRAP: COPPER futures ended higher on Friday while aluminium closed at an 18-month high as upbeat US economic data fanned hopes of stronger demand for industrial metals. ENERGY WRAP: West Texas Intermediate crude capped the first weekly gain in more than a month on speculation an improving U.S. economy will boost fuel demand. PRECIOUS METAL WRAP: Hedge funds cut their bullish gold bets for the fourth week in five, sending holdings to a two-month low, U.S. government data show. Open interest in New York futures is...

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INDIAN BENCHMARK open to record high, big boost

INDIAN BENCHMARK open to record high, big boost comes from GDP numbers which were out on Friday. GDP grew fastest in over two years at 5.7% in the first quarter of FY15. The Supreme Court will today decide what to do with captive coal blocks, having deemed more than 200 allocations made since 1993 to be illegal. FURTHER, Wockhardt Ltd has received Qualified Infectious Disease Product status from the US FDA for two of its drugs, WCK 771 and WCK 2349. Reliance Industries reportedly said it has returned nearly 1,384 acres of...

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INDIAN BENCHMARKS ends August series with modest gains

INDIAN EQUITY BENCHMARKS ended with amid volatility as monthly derivative contracts expired today and investors eyed GDP April-June quarter data scheduled for release tomorrow. •    Shares in NHPC Ltd surged as much as 6.4 per cent as Traders focus could shift to hydro power as an alternative to coal in electricity generation. •    Further, SKS Microfinance Ltd's shares rose 2.2 percent after Morgan Stanley initiated coverage with an overweight rating saying India's microfinance industry...

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TOP CORPORATE NEWS 28 August 2014

•    Tata Motors enters Algeria with a range of passenger cars Tata Motors in association with SPA Elsecom has setup dealerships at Algiers and Oran, with further plans underway to establish 10 additional sales and service centers, to cover important regions, by the end of this year. •    RIL to save $450 mn/yr by importing ethane from US Reliance Industries will save about USD 450 million annually...

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COMMODITY MARKET STRATEGY 28 August 2014

BASE METAL WRAP: Copper traded near the lowest in almost a week after China reported industrial profit growth slowed and before economic expansion data today from the U.S. ENERGY WRAP: Gasoline fell after a government report showed U.S. output rose before the Labor Day holiday that marks the end of the country’s peak-demand driving season. West Texas Intermediate crude settled little changed. PRECIOUS METAL WRAP: Gold futures dropped...

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MORNING MAIL 28 August 2014

INDIAN BENCHMARK open marginally higher amid firm global cues. Further, markets are likely to remain volatile in the latter half of the trading session with expiry of August derivative contracts today. FURTHER, Piramal Enterprises is rejigging its research and development activities with a focus on molecules that are at an advanced stage of development. DLF will continue to be under pressure after the Supreme Court on Wednesday directed DLF to deposit Rs 630 crore in the registry within three months. Trend in FII flows: The...

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INDIAN BENCHMARKS mark record closing high ahead of F&O expiry

INDIAN EQUITY BENCHMARKS ended with gains for the second consecutive trading session ahead of the F&O expiry tomorrow. Sentiment was on the positive side as the ongoing geopolitical tension in Israel, which was a major cause for concern seems to be finally ending as Hamas and Israel agreed to an open-ended cease-fire. •    DLF fell 4.6 percent on Supreme Court order asking company to pay Rs 630 crore fine within three months. •    Further, HDFC Bank declined 0.7 percent on the matter related to...

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TOP CORPORATE NEWS 27 AUGUST 2014

•    UCO Bank stock slips 8% Shares of UCO Bank slipped 8% after report that the government ordered limited forensic audit into some non-performing accounts of the Bank to find out any irregularities in sanction of loans. •    Tech Mahindra in talks to acquire more companies Tech Mahindra is talks to acquire firms to further enhance its geographical reach competence in order to reach its goal of $5 billion by CY2015. •    Hero Moto Corp aims to sell 12 million units by 2020 ...

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COMMODITY MARKET STRATEGY 27 August 2014

BASE METAL WRAP: Aluminium traded near an 18-month high on speculation demand is rising amid signs a recovery is gathering pace in the U.S. and before data forecast to show the country’s economy expanded for the second quarter. ENERGY WRAP: West Texas Intermediate traded near a three-day high before a government report forecast to show crude stockpiles dropped for a second week in the U.S., the world’s biggest oil consumer. Brent was steady in London. PRECIOUS METAL WRAP: Gold held below $1,300 an ounce as investors weighed a strengthening...

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MORNING MAIL 27 August 2014

INDIAN BENCHMARK open on a bullish note tracking a firm trend across markets in Asia after reports from US indicated that the world’s largest economy is strengthening. FURTHER, Shares of defence equipment makers rose after the government notifies increase in FDI limit to 49% through approval route in the defence sector. ONGC rose over 2%, on hopes of reforms on subsidies and gas prices ahead of ONGC's share sale. Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs were...

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INDIAN BENCHMARKS continues retreat from record high

INDIAN EQUITY BENCHMARKS ended flat, amid a volatile trading session, even metal stocks rebounded while power stocks extended losses after the apex court's verdict on coal block allocations. ·         Tata Power fell another 2.8 percent on the Supreme Court’s order that stayed an interim order of the Appellate Tribunal for Electricity (APTEL) to allow payment of compensatory tariffs. ·         Further, Oil and Natural Gas Corp ended down 2.5 percent...

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TOP CORPORATE NEWS 26 August 2014

·        ONGC slumps on reports of disinvestment ONGC fell nearly 4%, on reports of disinvestment. Government has decided to disinvest 5% stake in the company via offer for sale mechanism. The procedure of disinvestment is expected to be completed by the end of the month of September. ·        Havells India rises after stock split Havells India jumped over 12% and after stock split. Havells India split each equity share of face value Rs5 each into five equity...

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TOP CORPORATE NEWS 26 August 2014

·        ONGC slumps on reports of disinvestment ONGC fell nearly 4%, on reports of disinvestment. Government has decided to disinvest 5% stake in the company via offer for sale mechanism. The procedure of disinvestment is expected to be completed by the end of the month of September. ·        Havells India rises after stock split Havells India jumped over 12% and after stock split. Havells India split each equity share of face value Rs5 each into five equity...

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COMMODITY MARKET STRATEGY 26 August 2014

BASE METAL WRAP: Aluminium in London climbed for a second day following Alcoa Inc.’s decision to close a smelter in Italy and before durable goods orders data from the U.S., the second-largest consumer of industrial metals. ENERGY WRAP: West Texas Intermediate traded near the lowest price in seven months before supply data that will signal the strength of fuel demand in the U.S, the world’s biggest oil consumer. Brent was steady in London. PRECIOUS METAL WRAP: Gold held losses near a two-month low on speculation that the U.S....

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INDIAN BENCHMARK opened lower

INDIAN BENCHMARK opened lower following consistent nervousness due to Supreme Court order on coal block allocation case. FURTHER, Auro Life Pharma LLC, subsidiary of Aurobindo Pharma has got tentative approval from USFDA for anti-allergy drug fexofenadine hydrochloride 30 mg. Torrent Pharma has secured an exemption from price control for one of its newly developed fixed dose combination products. Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net sellers of Rs....

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INDIAN BENCHMARKS down …Late trade sell-off on SC order

INDIAN EQUITY BENCHMARKS hit fresh record highs early today ended flat amid selling pressure in metal and power stocks after the Supreme Court said that guidelines were breached in coal block allocations during the UPA government and that the terms of allotment, going as far back as 1993, were themselves illegal. ·         Alstom T&D gained 5.5 percent on joint venture bagging order worth Rs 3,250 crore. ·         Further, Lakshmi Vilas Bank has announced...

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TOP CORPORATE NEWS 25 August 2014

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COMMODITY MARKET STRATEGY 25 AUGUST 2014

BASE METAL WRAP:   Copper in Shanghai swung between gains and losses near the highest in almost four weeks after stockpiles fell the most since May and before housing data in the U.S., the second-biggest consumer of industrial metals. ENERGY WRAP:  Brent fell for a second day amid speculation that Middle East crude supplies will remain safe amid turmoil across the region. West Texas Intermediate was steady after a technical issue disrupted electronic trading. PRECIOUS METAL WRAP:  Investors are exiting the gold market...

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MORNING MAIL TODAY open trading session on a positive note.

INDIAN BENCHMARK open trading session on a positive note with Nifty touching fresh record high despite mixed global cues. FURTHER, Shares of Ranbaxy Laboratories rose nearly 2%, on reports that UBS has maintained buy rating on the stock with a target price of Rs784 per share. Adani Group plans to sign a pact (MoU) with the Odisha government soon for setting up of a 2,500 Mw rejected coal based power plant in Angul district. Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while...

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COMMODITY MARKET STRATEGY 22 AUGUST 2014

BASE METAL WRAP: Aluminium buyers in Japan, Asia’s largest importer, are set to agree on a record quarterly fee after lower output from Brazil deepened a global deficit, said three executives who will start negotiations next week. Copper in London rose to a two-week high, heading for the first weekly advance in a month on stronger-than-expected U.S. homes sales and before a speech by Federal Reserve Chair Janet Yellen. ENERGY WRAP: West Texas...

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INDIAN BENCHMARKS closes marginally higher… PSU banks gains

INDIAN EQUITY BENCHMARKS  ended marginally higher led by gains in bank shares after Finance Minister Arun Jaitley today said that the government was working towards bringing in more professionalism in the functioning of banks and improving risk management, amid the backdrop of the recent scams in some public sector banks. ·         Shares of Dr. Reddy's Laboratories ended lower by 1.5% after...

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