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Commodity Market important Updates for 14 July 2017

Gold futures closed lower in the domestic market on Thursday with the dollar gaining ground against most currency rivals and U.S. equities trading mostly higher after Federal Reserve Chairwoman Janet Yellen offered a second day of congressional testimony on monetary policy. Gold prices have been posting gains since a solid U.S. jobs report issued late last week, which backed the argument for higher interest rates although likely not at a more aggressive pace than the go-slow approach the Fed has signaled. Still, the prospect for gold-negative interest-rate hikes had sent the yellow metal to their lowest level in about four months last week.

Rising real interest rates low the attractiveness of holding gold because the metal provides no yield, and entices investors to rotate into riskier assets like stocks. Higher rates may also boost the value of the dollar which usually moves in the opposite direction of the gold price.

Gold futures for Aug 2017 contract ended at Rs 27845 per 10 grams, down by 0.02 %, after opening at Rs 27,950 against a previous close of Rs 27,851. It touched the intra-day lower of Rs 27,812.

Silver futures closed low in the domestic market today as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels. White metal futures for Sept 2017 contract closed at Rs 36,571 per kg, downward by 1.07 %, after opening at Rs 37,055, against a previous close of Rs 36,968. It touched the intra-day lower of Rs 36,530.

Crudeoil futures closed high in the domestic market with prices finding support from the largest weekly decline for U.S. crude inventories in 10 months and a forecast for stronger growth in demand this year. Traders, however, remained wary of recent reports revealing further gains in global production, particularly after the International Energy Agency said global oil supply rose in June. While demand growth has generally met expectations, the supply side continues to prove worrisome for oil bulls, with U.S. production forcing upward revisions, and OPEC compliance levels falling off.

Crude oil futures for July 2017 contract closed at Rs 2965 per barrel, up by 0.54 %, after opening at Rs 2952, against a previous close of Rs 2949. It touched the intra-day higher of Rs 2985.

Mentha oil futures were trading higher during the morning trade in the domestic market on Friday amid pick-up in demand at domestic spot market and restricted supplies from producing regions.Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

Mentha oil futures for July 2017 contract is trading at Rs 948.50 per kg, up by 0.54 %, after opening at Rs 947.50, against the previous closing price of Rs 943.40. It touched the intra-day higher of Rs 951.30.

Cardamom futures were trading low during the morning trade in the domestic market on Friday as speculators booked profits at prevailing levels amid easing demand in the spot market. Analysts said besides profit booking by participants at existing level; fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

Cardamom futures for Aug 2017 contract was trading at Rs 1019 per kg, down by 0.36 %, after opening at Rs 1025, against a previous close of Rs 1022.70. It touched the intra-day lower of Rs 1018.

 

Commodity Market important Updates for 12 July 2017

Gold futures closed higher in the domestic market on Tuesday getting a boost from political uncertainty in the U.S., as investors awaited Federal Reserve Janet Yellen’s testimony to Congress this week for cues on the timing of expected interest-rate hikes. Prices for the yellow metal gave up earlier losses as the dollar weakened and U.S. equities fell in the immediate wake of Donald Trump Jr.’s release of emails linked to a meeting with a Russian lawyer last year.

Rising real interest rates lower the opportunity costs of holding gold because the metal provides no yield, and entices investors torotate into riskier assets like stocks. Higher rates may also boost the value of the dollar, which usually moves in the opposite direction of the gold price.

Silver futures closed high in the domestic market on Tuesday as participants engaged in extending their positions taking strong cues from global market. Marketmen attributed the rise in silver prices at futures trade to a strong trend in the precious metals overseas.

Crude oil futures closed high in the domestic market on Tuesday as a low 2018 forecast on U.S. crude production and speculation of possible output curbs in Libya and Nigeria fueled the strongest session gain for prices in over a week. Expectations for a second-consecutive weekly decline in U.S. crude supplies also provided support. Traders and analysts were also looking ahead to monthly oil reports from OPEC and the International Energy Agency.

Mentha oil futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further, exiting of bets by traders in the

Top Stocks to be Focused for 12 July 2017

Tata Steel: Tata Steel UK has signed a definitive sale agreement to sell two of its pipe mills in Hartlepool to Liberty House Group. The sale agreement covers the 42-inch and 84-inch pipe mills, also known as the Submerged Arc Weld (SAW) mills. These mills manufacture steel used in oil and gas pipelines and employ around 140 employees. Incidentally, the two mills use steel plates sourced from outside Tata Steel, and are thus independent of the company’s strip products supply chain.

IndusIndBSE 0.69 % Bank: Brokerage CLSA has raised its target for the stock to Rs 1,870 from from Rs 1,680. The brokerage expects the lender to see 25 per cent CAGR over FY17-20. It has raises the bank’s earnings estimates by 1-2 per cent and said that the strengthening of CASA franchise aids derisking of loans.

ICICI Bank: As per a media report, ICICI Bank and Prem Watsa’s Fairfax Financial Holdings may together dilute a stake of at least 20 per cent in the initial public offering (IPO) of ICICI Lombard General Insurance Co. ICICI Lombard’s IPO will be the first public offering by a general insurance company.

Adani Power: The commerce ministry has deferred a decision on allowing Adani Power to transfer its Mundra power plant to a subsidiary and sought a no-objection certificate from the project’s lenders to consider the proposal. The board of approval (BoA) on special economic zones postponed the decision after noticing that the proposed transfer of the thermal power plant was being done without the transfer of the liability of debt,a commerce ministry official said.

Liquor stocks: Liquor stocks will be in focus on Wednesday after the Supreme Court clarified that the ban on sale of alcohol within 500 m of any state or national highway will not cover roads within city limits if these lose the highway tag post denotification.

Birtannia, ITC: The Supreme Court has asked Britannia IndustriesBSE 0.39 % and ITC to settle their dispute regarding the alleged deceptive packaging of their digestive biscuits out of court. “The matter is adjourned sine die to enable the parties to effect an out-of-court settlement,” a bench of Justices Ranjan Gogoi and Navin Sinha said.

Stock Market Headlines for 12 July 2017

Market Live: Nifty opens above 9,800, Sensex moderately higher; Biocon zooms 8%
Nearly $1 bn likely to enter D-St! 10 stocks to buy which can give up to 30% return
There are opportunities to create wealth in ‘connected company’: Saurabh Mukherjea
Federal Reserve should start reducing balance sheet ‘soon’: Fed Governor Lael Brainard
Nifty likely to head towards 9900; 5 stocks which can give up to 13% return
Buy, Sell, Hold: 2 stocks and 1 sector are on the radar of analysts today
Morningstar upgrades rating of ICICI Prudential Value Discovery Fund to ‘Silver’
Stocks in the news: ICICI Bank, Maruti, RIL, Adani Power, Tata Global, Vista Pharma
Donald Trump seen replacing Janet Yellen at Fed with NEC’s Gary Cohn: Report
Bull’s Eye: Buy Bajaj Auto, IOC, Hexaware, GSFC, IGL, JSPL; sell Sun TV
Biocon gains 8.5% ahead of US FDA meet to discuss breast cancer drug filing
Vista Pharma locked at 5% lower circuit on USFDA warning letter for Telangana unit
Camlin Fine rises 7% on 51% stake acquisition in Chinese company
Piramal to expand pharma vertical presence in US, Europe
Tata Steel to sell SAW mills in UK to Liberty House Group
Sebi wants special review of stock exchanges’ trading systems
HAL sets revenue target for 2017-18 at Rs 17,900 crore
IMF sees trouble ahead for emerging Europe

Commodity Market important Updates for 11 July 2017

Gold trading range for the day is 27522-27956.Gold prices edged up after nearing technical support and as traders awaited signals from central banks on interest rate hikes. Pressure continues from Friday after upbeat monthly data on U.S. jobs supported expectations for at least one more rate hike from the Federal Reserve this year. The U.S. economy continues to churn out jobs and grow at a steady pace, with investment and consumer confidence both healthy and only moderate signs of risk in financial markets.

Silver trading range for the day is 35063-37337.Silver gains as prices recovered on short covering as investors looked ahead to testimony from Fed chair Janet Yellen later this week on the health of the economy. The rapid pace of jobs growth reassured investors that the economy is on a strong enough footing to justify the Feds plans to raise interest rates once more this year. Investors will also keep an eye out on a few U.S. economic reports, with Fridays inflation data in the spotlight, for further clues on the timing of the next Fed rate hike.

Crudeoil trading range for the day is 2793-2935.Crude oil recovered on short covering but sentiment remained negative as fears grew that rising output from US, Nigeria and Libya would continue to weigh. OPEC is expected to insist Libya and Nigeria take part in the cartels supply quota plan. U.S. energy firms added seven oil drilling rigs last week, marking a 24th week of increases out of the last 25 and bringing the total count up to 763.

Naturalgas trading range for the day is 183.8-193.2.Naturalgas settled up 2.27% at 189.40 as prices rebounded on expectations that high temperatures would boost natural gas demand The latest weather forecasts continue to suggest that an area of high pressure will be anchored over the US with very hot conditions The hot conditions should have an important impact in boosting demand for natural gas and there is scope for a further net increase in prices.

Menthaoil trading range for the day is 925.8-947.8.Mentha oil spot at Sambhal closed at 1059.10 per 1kg. Spot prices was up by Rs.14.40-. Mentha oil prices settled flat as arrivals of the new crop, have started in the key wholesale markets of Sambhal and Chandausi in Uttar Pradesh. As per sources, demand is weak ahead of GST as local traders and mentha consuming industries are avoiding bulk buying. The expectation of good production of mentha during the year has boosted the demand for natural mentha.

Aluminium trading range for the day is 120.1-125.3.Aluminium dropped as pressure seen after aluminum ingot stocks in Chinas five major markets rose for two weeks in a row last week. Investors have been worried that monetary tightening in China would hit economic growth. Chinas economy will maintain steady and improving momentum in the second half of this year, but it still faces many difficulties.

Nickel trading range for the day is 568.4-590.4.Nickel settled flat after prices seen under pressure on expectations Indonesia and Malaysia will step up ore shipments. Cuba plans to produce 54,500 tonnes of nickel and cobalt sulfides this year. Japans core machinery orders unexpectedly tumbled in May and the government downgraded the outlook for orders for the first time in eight months.

Zinc trading range for the day is 175.7-182.1.Zinc prices dropped as metals market was subdued inflation data in top metals market China as the economy loses momentum. Chinas producer price index (PPI) rose 5.5 percent in June from a year earlier, the National Bureau of Statistics (NBS) said. Zinc weekly stocks at Shanghai exchange came up by 2066 tonnes.

Copper trading range for the day is 374.4-383.2.Copper dipped as rising inventories indicated healthy supplies, which outweighed worries about possible strikes at mines in Chile. Stocks in LME warehouses rose by 4,900 tonnes to 319,975 and have gained 32 percent since June 28, showing supplies are adequate. Hedge funds and money managers in the week to July 3 raised their net long position in COMEX copper futures and options, U.S. CFTC data showed.

Jeera trading range for the day is 18395-18925. Jeera prices ended with gains due to tight stocks because of end of season. Lower stocks in the production centres due to fall in production also supporting prices. NCDEX accredited warehouses jeera stocks gained by 24 tonnes to 1310 tonnes. In Unjha, a key spot market in Gujarat, jeera edged up by 200 Rupees to end at 18704.55 Rupees per 100 kg.

Turmeric trading range for the day is 6864-7184.Turmeric prices gains on improving demand from upcountry buyers at the spot market. Turmeric acreage is likely to decline this season due to poor realization and adverse weather. NCDEX accredited warehouses turmeric stocks gained by 199 tonnes to 6585 tonnes. In Nizamabad, a major spot market in AP, the price ended at 6850 Rupees gained 290.35 Rupees.

Soyabean trading range for the day is 3022-3128.Soyabean prices ended with gains on expectation of good physical buying and irregular monsoon. Area under soybean crop across the country for the 2017-18 kharif was 53.6 lakh hectares till last week, up by about 10% on year. NCDEX accredited warehouses soyabean stocks dropped by 878 tonnes to 45768 tonnes. At the Indore spot market in top producer MP, soybean gained 73 Rupees to 3017 Rupees per 100 kgs.

 

Top Stocks to be Focused for 11 July 2017

SBI: State Bank of IndiaBSE 0.70 % (SBIBSE 0.70 %) on Monday said its central board approved dilution of its stake in its life insurance arm through an initial public offer for which it has already secured the sectoral regulatory approval.

SpiceJet: SpiceJet’s former promoter, Kalanithi Maran of Sun Group, has sought over Rs 2,000 crore compensation from current promoter Ajay Singh and the airline for allegedly causing losses by failing to honour contractual obligations.

Lupin: Global financial firm CLSA has maintained ‘Outperform’ on LupinBSE 0.30 % with a target price of Rs 1,310.

Maruti Suzuki: At a time when carmakers are re-evaluating plans to introduce hybrid vehicles in the Indian market after high levies under the GST regime, the country’s largest carmaker Maruti Suzuki IndiaBSE -0.45 % said it will put its might behind hybridisation and go ahead with planned launches as these vehicles are environment-friendly and good for the consumer and the country .

IOC: Indian Oil Corporation Limited (IOCBSE -0.08 %) and LanzaTech, carbon recycling company, have signed a Statement of Intent to construct the world’s first refinery off gas-to-bioethanol production facility in India.

Bharti Airtel: Bharti AirtelBSE -1.02 % announced the launch of Project Next – its digital innovation program aimed at transforming customer experience across all of its services and touch points. Airtel said it plans to invest up to Rs 2000 crore over the next 3 years under Project Next to launch several exciting digital innovations to step change the simplicity and interactivity of the Airtel customer experience. Project Next complements Airtel’s massive investments towards building a future ready network under Project Leap.

Reliance Power: The company said it has redeemed and paid interest in respect of its 2500 –10.20% unsecured redeemable non-convertible debentures series I (2016) of Rs 10 lakh each aggregating to Rs 250 crore on the due date 10 July 2017.

Sugar stocks: The government increased import duty on sugar to 50 per cent to curb dumping of the commodity in India as international prices fell. The industry expects the move to prevent a build-up of arrears in payments to sugar cane farmers in the next season starting October 2017.

Stock Market Headlines for 11 July 2017

Market Live: Nifty hits 9800 for first time, Sensex higher; Infosys, Tata Motors lead
Believe it or not, Indian market is heading towards $4 trn market cap in next 5-7 years
Asian shares edge up as investors await Yellen testimony
Nifty likely to face resistance around 9800-9850; 5 stocks which investors can buy today
Buy, Sell, Hold: 6 stocks and 2 sectors are on analysts’ radar today
Will continue to work with Shriram team for fin services: Ajay Piramal
SBI, Tata Motors, Tata Power among top five stocks which could see short coverings
SBI Life gets final approval for IPO from SBI central board
Bull’s Eye: Buy BHEL, Delta Corp, Canara Bank, Just Dial, Pidilite, Tata Chemicals
Torrent Pharma falls over 3.5% as US FDA issues 5 observations to Dahej plant
Stocks in the news: SBI, Cadila Health, Alembic Pharma, Grasim, Jet Airways, IndusInd
First test of India’s new bankruptcy law offers cautionary tale
Marriage of IDFC and Shriram is riddled with question marks
Expect Q1 to be lacklustre quarter from earnings growth perspective: Motilal Oswal
Grasim Industries divests Grasim Bhiwani Textiles to Donear group
Oil, gas key to world energy for ‘decades to come’: Saudi Aramco boss
India raises import tax on sugar to 50%: Government statement
You are ahead of most millennials financially if you have done these 5 things

Commodity Market important Updates for 10 July 2017

Gold trading range for the day is 27481-28269.Gold fell to the lowest in nearly four months after stronger than expected US jobs data increased the likelihood of another U.S. interest rate increase.U.S. non farm payrolls jumped by 222,000 jobs last month, the Labor Department said, beating expectations of a 179,000 gain. SPDR gold trust holdings dropped by 0.63% i.e. 5.32 tonnes to 835.35 tonnes from 840.67 tonnes.

Silver trading range for the day is 35090-38010.Silver prices slumped after data showed an improvement in the U.S. labor market.The latest batch of mostly upbeat jobs data, fuelled expectations that the Fed would continue with its plan to hike rates later this year.The Bureau of Labor Statistics reported, nonfarm payrolls grew by 222,000 in June, well above expectations of a 179,000 increase.

Aluminium trading range for the day is 123.2-126.2.Aluminium dipped after touching a five-week high in the previous session, hit by profit taking and by signs that supply is still robust.Earlier this year, China ordered steel and aluminium producers in 28 cities to slash output during winter as Beijing intensifies its war on smog.Aluminium inventories in warehouses monitored by the SHFE rose 1,006 tonnes from last Friday to 433,548, their highest since May 2013.

Nickel trading range for the day is 571.2-593.Nickel prices dropped as pressure following Indonesias approval for third company for nickel ore exports. The news from the Philippines has eased worries about shortages of the metal used to make stainless steel, where production is slowing.Chinas refined nickel output fell during the first half of 2017.

Zinc trading range for the day is 178-182.8.Zinc settled flat paring its gains as pressure seen as after update China zinc output rose in June.Chinas refined zinc output jumped 8.8% on-month to 457,000 tonnes in June, but declined 0.8% on a yearly basis.Chinas refined zinc output in the first six months of the year was 2.59 million tonnes, a drop of 2.52% on a yearly basis.

Copper trading range for the day is 376.3-385.3.Copper prices dropped as the dollar gained after a report showed the U.S. economy created far more jobs than expected in June and the previous months.The mood in Chinese markets has been cautious ahead of a raft of data expected to show steady growth although.Bonded zone inventories in Shanghai were some 535,000 tonnes this past week, compared to 545,000 tonnes last week.

Naturalgas trading range for the day is 181-192.8.Natural gas prices ended with losses as EIA reports larger-than-expected climb in U.S. supplies.Sentiments also remained weak as cooler than normal weather is forecast to cover most of the east coast of the United States over the next 8-14 days.Data from the U.S. Energy Information Administration showed that domestic supplies of natural gas rose by 72 billion cubic feet.

Crudeoil trading range for the day is 2779-2975.Crude oil prices dropped after data showed U.S. production and rig counts rose last week just as OPEC exports hit a 2017 high.President Vladimir Putin, said he wanted to continue cooperating with other countries to reduce price volatility.OPEC delegates said they were encouraged by Russias openness to talking about changes to an OPEC-led deal to cut oil supplies.

Jeera trading range for the day is 18270-18700.Jeera dropped on profit booking after prices gained supported by increased buying by retailers and stockists at the spot market.In 201617, country exports increase by 26% to 1.24 lt in as per the data release by Dept. of commerce, GOI. The NCDEX accredited warehouses jeera stocks dropped by 56 tonnes to 1286 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -20 Rupees to end at 18704.55 Rupees per 100 kg.

Turmeric trading range for the day is 6566-7122.Turmeric ended with gains continuing its trend due to higher export demand and poor arrivals. Anticipation of lower acreage during the current season also supported the prices. NCDEX accredited warehouses turmeric stocks dropped by 204 tonnes to 6386 tonnes.In Nizamabad, a major spot market in AP, the price ended at 6559.65 Rupees gained 102.5 Rupees.

Soyabean trading range for the day is 2984-3060.Soyabean dropped on late profit booking after prices gained on expectation of good physical buying due to good rally in prices.Pressure also seen on prices amid an anticipation that the acreage may improve in coming weeks due to good rains NCDEX accredited warehouses soyabean stocks dropped by 4335 tonnes to 46646 tonnes.At the Indore spot market in top producer MP, soybean gained 13 Rupees to 2944 Rupees per 100 kgs.

Menthaoil trading range for the day is 915.7-953.7.Mentha oil spot at Sambhal closed at 1044.70 per 1kg. Spot prices was down by Rs.-4.40-.Mentha oil prices gains due to uptick in demand in the domestic spot market.Mentha output this year is likely to rise by 10-12% to 36,000 tn, as weather remained largely conducive throughout the season.The expectation of good production of mentha during the year has boosted the demand for natural mentha.

Top Stocks to be Focused for 10 July 2017

IDFC: Infra lender IDFC which entered into banking late 2015 and the Piramal Group-backed financial services major Shriram Group on July 8 agreed to merge and create the largest retail-focused bank in the country.

AU Small Finance Bank: Shares of AU Small Finance Bank is going to list on bourses on July 10.

RCom: Reliance CommunicationsBSE 5.71 % (RCom) has presented a long-term debt reduction plan to lenders, which includes sale of real estate, under-sea cable assets and its DTH business, people familiar with the matter said to stagger down debt to reduce 60 per cent by September and 80 per cent by December.

Tata Power: The stressed thermal plants of Tata PowerBSE 1.66 % and Essar Power in Gujarat that run on imported coal are fit for takeover and can be run without technical glitches, state-run power producer NTPCBSE 0.25 % has found in an assessment.

GATI: Express distribution and supply chain company GATI, private equity firm Peepul Capital and TVS Logistics have expressed interest in acquiring Vulcan Express, the logistics arm of beleaguered online marketplace Snapdeal.

Tata Motors: Tata Motors said that the sales of its British luxury unit Jaguar Land Rover (JLR) rose 11 per cent to 51,591 units in June 2017 over June 2016, driven by healthy China market. Jaguar sales grew by 16.4 per cent to 15,343 units in June 2017 over June 2016. Land Rover sales rose 8.9 per cent to 36,248 units in June 2017 over June 2016.

Sun Pharma: Sun Pharmaceutical IndustriesBSE 1.87 % said that the company and one of its wholly-owned subsidiaries have entered into settlements with certain plaintiffs in re Modafinil Antitrust Litigation matter currently pending in the United States District Court for the Eastern District of Pennsylvania. The settlements extend to all claims brought by Apotex Corporation and the Retailer Purchaser Plaintiffs. The settlements remain are confidential.

United Bank ofBSE 1.01 % India: United Bank of IndiaBSE 1.01 % said that it proposes to approve by circulation on July 12,2017, allotment of unsecured Basel III compliant listed Tier-2 bonds, with or without greenshoe option, aggregating upto Rs 500 crore.

CeraBSE -0.10 % Sanitaryware: Shares of Cera SanitarywareBSE -0.10 % turn ex-dividend for dividend of Rs 12 per share for the year ended March 2017.

Stock Market Headlines for 10 July 2017

Market Live: Sensex, Nifty hit all-time high; AU Small Finance Bank up 47% in pre-opening
System glitch at NSE leaves traders guessing! F&O segment shuts down
Trade cautiously as Q1 earnings kicks off; 3 stocks which can give up to 15% return
Stocks in Asia gain as China inflation data meets expectations; Nikkei up 0.6%, ASX advances 0.7%
Buy, Sell, Hold: 7 stocks and 1 event are on the radar of analysts today
Oil could hit $60 before year-end -Barron’s, citing Citi analyst
Market Week Ahead: 10 factors to keep investors busy as earnings season kicks off
Biocon cracks over 9% as French regulator finds lapses at Bengaluru plant
Sebi restricts use of P-Note derivatives
AU Small Finance Bank to make a debut on bourses on July 10
Bull’s Eye: Buy TVS Motor, DLF, Idea Cellular, Balmer Lawrie, GSFC, Torrent Pharma
French regulator ANSM gives GMP nod to Biocon
Stocks in the news: Tata Motors, Cadila, Fortis, Biocon, IDFC, Satin Credit, RCF, Gati
E-commerce firms must print MRP, expiry date from next year
If not convinced, here are 5 reasons why you should own Indian equities: Morgan Stanley
Air India break-up an option as Modi pushes for quick sale
Internet services restored in Kashmir Valley
Fake currency worth Rs 78,000 seized from Bihar
Attention shopkeepers! Taxmen can’t visit your shop without authority: FinMin
Four police personnel injured in fresh Darjeeling violence

Commodity Market important Updates for 06 July 2017

Gold trading range for the day is 27915-28287.Gold should recover today as yesterday Fed minutes showed a growing split among policymakers on the inflation outlook and the dollar pared gains. North Korea said it had conducted a test of a newly developed intercontinental ballistic missile that can carry a large and heavy nuclear warhead.WGC expects Indias demand for gold to be 650750 tons in 2017 and rise to 850950 tons by 2020.

Silver trading range for the day is 36848-38084.Silver pushed lower by a strengthening dollar and rising U.S. bond yields while investors looked ahead to Federal Reserve minutes. Fed minutes showed a growing split among policymakers on the inflation outlook and the dollar pared gains, lifting the precious metal. A missile launch by North Korea caused only a brief rally for bullion prices, seen as a safe haven in times of uncertainty.

Crudeoil trading range for the day is 2843-3115.Crude oil prices dropped after Russia ruled out any proposals to deepen the OPEC-led production cuts. Russia wants to continue with the current deal and any further supply curbs would send the wrong message to the market, according to government officials. Oil exports by the OPEC rose for a second month in June, despite its pledge to hold back production between January this year and March 2018 in order to prop up prices.

Naturalgas trading range for the day is 175.8-200.4.Natural gas prices dropped below 185 level extending losses amid bearish weather forecasts that should limit demand for the fuel. Prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand. Qatar said it plans to increase natural gas production by 30% over the next several years, as it faces pressure from its neighbors in a diplomatic crisis.

Menthaoil trading range for the day is 879-934.6.Mentha oil spot at Sambhal closed at 1016.50 per 1kg. Spot prices was up by Rs.13.60-.Mentha oil settled up due to uptick in demand in the domestic spot market. The local demand for mentha from the traders and domestic consuming industries has slightly improvedMentha output this year is likely to rise by 10-12% as weather remained largely conducive throughout the season.

Aluminium trading range for the day is 124-125.4.Aluminium prices remained firm tracking firmness in LME prices settling at $1,929 after news on output cuts in Xinjiang supported the prices. Chinas aluminum production and capacity in operation both rose in June. Aluminum output nationwide increased 20.2% year-on-year to 3.09 million tonnes in June, and rose 21.7% year-on-year to 18.3 million tonnes in H1.

Nickel trading range for the day is 583.4-602.8.Nickel dropped as pressure seen after Indonesia allows another new company to export nickel ore.Pressure also seen on prices on plentiful supply from Indonesia and the Philippines. Indonesia allows PT Ceria Nugraha Indotama will be permitted to export 2.30 million tonnes of nickel ore in principle through to July 2018.

Zinc trading range for the day is 176.3-183.9.Zinc prices dropped amid worries over tepid demand growth from top consumer China in the second half dragged on prices. Chinas services sector grew at a slower pace in June as new orders slumped, signalling renewed pressure on businesses. Chinas central bank said the shadow banking sector lacks sufficient regulation and the bank would give more prominence to financia Read more

Copper trading range for the day is 377.9-388.5.Copper dropped on a surge in warehouse stocks but the threat of strike action at two Chilean mines curbed losses. However, downside seen limited supported by strike threats at a South American copper producer. Chilean mining company Antofagasta Minerals was facing potential strikes from workers at its Zaldivar mine and by supervisors at Centinela as contract talks continue.

Jeera trading range for the day is 18140-18550.Jeera prices gains as the jeera arrival in June is lower this year compared to May as well as June last year. As per the data release by government jeera exports in April 2017 was 14,599 tonnes, were down 9 % from March. NCDEX accredited warehouses jeera stocks gained by 9 tonnes to 1322 tonnes. In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 Rupees to end at 18704.55 Rupees per 100 kg.

Turmeric trading range for the day is 6368-6496.Turmeric prices dropped due to fresh selling by the market participants due to supportive rains in turmeric growing areas. At Erode market arrivals were reported at 1500 quintals, down by 1500 quintals from previous trading day. NCDEX accredited warehouses turmeric stocks dropped by 10 tonnes to 6580 tonnes. In Nizamabad, a major spot market in AP, the price ended at 6341.65 Rupees gained 16.65 Rupees.

Soyabean trading range for the day is 2960-3080.Soyabean prices ended with losses on profit booking after prices gained on expectation of good physical buying due to good rally in edible oils. As per data, arrivals of soybean during last week were down 37% to 39,588 tonnes as compared to 62,976 tonnes in the previous week. NCDEX accredited warehouses soyabean stocks dropped by 79 tonnes to 51179 tonnes.At the Indore spot market in top producer MP, soybean gained 22 Rupees to 2939 Rupees per 100 kgs.

Top Stocks to be Focused for 06 July 2017

Piramal Enterprises: Healthcare major Piramal Enterprises on Wednesday announced that its subsidiary Piramal Finance Ltd (PFL) has sanctioned an additional Rs 700 crore to renewable energy firm ACME Solar Holdings.

HDFC: HDFC Property Fund is in advanced talks with prospective buyers to sell its stake in The Windflower Resorts and Spa for about Rs 100 crore, nearly three times its investment of Rs 30-35 crore, people aware of the development said. HDFC Property Fund, the private equity arm of HDFC LtdBSE 0.63 % set up in 2005, had acquired about 20 per cent stake in Windflower Resorts and Spa, said one of the persons, who did not wish to be identified.

BHEL: Global financial services firm Citi has maintained ‘Sell’ on BHELBSE 2.05 % with a target price of Rs 133 per share.

JSW Steel: HSBC has maintained ‘Buy’ on JSW SteelBSE -0.26 % with a target price of Rs 220 per share.

Punjab National BSE 3.87 % Bank: Nomura upgraded Punjab National BankBSE 3.87 % (PNBBSE 3.87 %) to ‘Buy’ with a target price of Rs 180 per share.

Hero Moto Corp: India’s largest two-wheeler maker Hero MotoCorp has begun developing Bharat Stage (BS) VI compliant models as it aims to introduce such products much before the official timeline of 2020.

Bharti Airtel: The telecom major may revive a plan to sell a controlling stake in tower arm Bharti Infratel in an effort to pare over $14 billion of debt and release funds for network expansion, people familiar with the matter said.

Vedanta: According to media reports, the government has asked Vedanta to make a buyback offer for Cairn UK’s 9.8 per cent equity in the company.

Stock Market Headlines for 06 July 2017

Market Live: Nifty extends gains, Sensex rises 100 pts; Midcap outperforms
Monsoon, earnings key for markets; 4 stocks which can give up to 29% return in 6 months
Asia shares shaky, oil recovers after slump on OPEC export rise
It is still buy on dips market; 4 stocks which can give up to 11% return
Buy, Sell, Hold: Here are 7 stocks that analysts are watching today
Nomura upgrades PNB’s rating to buy; stock soars over 3%
Morgan Stanley Tactical Idea: SAIL likely to see fall towards Rs 48 in next 60 days
Morgan Stanley stays overweight on Lupin post drug launch; sees up to 35% upside in 12 months
Indian rupee range-bound in early trade as inflation concerns in Fed minutes weigh on dollar
Stocks in the news: Tata Motors, Cadila Health, IRB Infra, Bharti Infratel, Bharat Forge
Shriram EPC rallies over 12% on order win from Arulmigu Dandayuthapani temple
IRB Infrastructure gains 4% on financial closure for Udaipur-Gujarat road project
Edelweiss ARC buys Adhunik Power debt for Rs 2,800 crore
National Insurance Co plans IPO in Q4
Jan-June PE investments hit record high of $11.34 bn: Report
When Anand Mahindra stood up for M&M’s utility vehicle biz despite falling mkt share
Uncertain about market trends? Invest through mutual fund SIPs

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