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Commodity Market important Updates for 14 July 2017

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...
Commodity Market important Updates for 12 July 2017

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...
Top Stocks to be Focused for 12 July 2017

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...
Stock Market Headlines for 12 July 2017

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...
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