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Commodity Market important Updates for 23 June 2017

Commodity Market important Updates for 23 June 2017

Gold trading range for the day is 28537-28795.Gold pushed higher on short covering after seen pressure as recent selling pressure tied to bets on another U.S. interest rate hike this year faded. The move high in gold prices comes in the wake of a recent shift in sentiment towards safe havens, after oil prices drop to multi-month lows this week. First-time claims for U.S. unemployment benefits saw a modest increase in the week ended June 17th, according to Labor Department. Investors continued to evaluate the possibility of another rate hike from Fed later this year in the wake of mixed messages from policymakers in recent days. Silver trading range for the day is 37851-38717.Silver rose benefiting from risk aversion as weaker oil prices dented stocks while the dollar retreated. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week, the Labor Department said. Holdings at ishares silver trust gained by 0.64% i.e.67.66 tonnes to 10571.73 tonnes from 10504.07 tonnes. Futures traders are pricing in less than a 15% chance of a hike at the Feds September meeting. Crudeoil trading range for the day is 2701-2851.Crude oil gains paring some of the losses sustained in recent sessions but sentiment remained bearish as investors continue to fret about rising global stockpiles. The move comes a day after EIA said that crude stockpiles fell by roughly 2.45m barrels in the week ended June 16, above expectations of draw of about 2.1m barrels. According to EIA, domestic output climbed by 20,000 barrels to 9.35 million barrels a day last week, almost 8% high than the same period...
Top Stocks To be Focused 23 June 2017

Top Stocks To be Focused 23 June 2017

Jet Airways: Budget carrier Jet Airways on Thursday announced expansion of its codeshare partnership with Air France, KLM Royal Dutch Airlines, and Delta Air Lines. Under the expanded pact, the carriers will expand choice and connectivity options for guests flying between India and Europe, Jet Airways said in a release. Reliance Defence: Reliance Infrastructure on Thursday said its arm Reliance Defence has entered into a pact with Daher Aerospace, France for aerospace equipment manufacturing. “This offers a great opportunity for both the companies to work together for aerospace composites parts manufacturer. There is an increasing demand in aerospace sector for the composite components,” Reliance Infrastructure said in a BSE filing. Fortis Healthcare: Malaysia’s healthcare services provider IHH Healthcare Berhad on Thursday said it is not close to “concluding any negotiations” to buy controlling stake in Fortis Healthcare. State Bank of India: State Bank of India, the country’s biggest bank, has been authorised to refer Essar Steel, Bhushan Steel and Electrosteel to the bankruptcy court raising the possibility that some of these companies could be merged in an effort to return them to health. The decision of the lenders consortium which met in Mumbai on Thursday indicates a new urgency in dealing with lakhs of crores of bad loans in the steel sector. The three companies between them owe banks nearly Rs 1 lakh crore. RIL: Reliance Industries (RIL) and partner BP have withdrawn the gas price-related arbitration against the government, paving the way for the companies to claim the premium price for output from deep-sea fields in which they plan to invest Rs 40,000 crore. Reliance Communications: Global private...
Stock Market Headlines for 23 June 2017

Stock Market Headlines for 23 June 2017

Market Live: Sensex, Nifty flat in opening; M&M, Tata Motors, TCS early gainers Fall in crude is good for Indian equities; 17 stocks to benefit the most from fall in black gold Fresh momentum in Nifty possible only above 9,710; 5 stocks can give up to 13% returns India is expensive; investors willing to pay premium, says Mark Matthews Trump Administration offers tremendous opportunities: Vishal Sikka Buy, Sell, Hold: 4 stocks and 1 sector are on analysts’ radar today Wockhardt rises 3% on settlement of supply contract litigation with Teva Pharma Nasscom sees IT export growth slowing to 7-8% in FY18 RBI releases names of the 5 members in Overseeing Committee to tackle bad loans Stocks in the news: Mindtree, Wockhardt, Fortis Healthcare, Quess Corp, Reliance Comm Steely Reserve — Banks refer Bhushan, Essar and Electrosteel to NCLT Bull’s Eye: Buy Grasim, NCC, Mahanagar Gas, CONCOR, Hind Zinc; Sell Exide Cipla settles patent infringement case with Roche over cancer drug Tarceva Shriram EPC rises 13% on orders win worth Rs 166 crore Oil edges up, but set for worst H1 performance in 20 years Reliance Defence to partner France’s Daher for aerospace components Subscribe to AU Small Finance Bank: GEPL Capital Don’t ignore! It is very important to insure income that your...
Commodity Market important Updates for 22 June 2017

Commodity Market important Updates for 22 June 2017

Gold trading range for the day is 28367-28739.Gold prices rebounded as an oil price slump pushed down stock markets and a weaker U.S. dollar made bullion cheaper. Investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating. U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade. Russias central bank posted an increase in gold reserves in May, the fifth consecutive month of gains. Crude oil trading range for the day is 2646-2914.Crude oil dropped as investors discounted evidence of strong compliance by OPEC and non-OPEC producers with a deal to cut global output. Crude inventories fell 2.5 million barrels, surpassing expectations for a decrease of 2.1 million barrels, as imports rose marginally by 56,000 bpd, the U.S. EIA said. Data from the American Petroleum Institute showed U.S. crude stockpiles last week had dropped more than forecast. OPEC and non-OPEC oil producers compliance with the output deal reached 106 percent in May, a source familiar with the matter said. Silver trading range for the day is 37590-38420.Silver prices ended with losses as investors worried about future Federal Reserve rate hikes. Market expectations for another Fed rate hike later this year have improved in wake of hawkish comments made by influential New York Fed Chief William Dudley. The Fed also provided greater detail about how it plans to reduce its massive $4.5 trillion balance sheet. Futures traders are pricing in around a 20% chance of a hike at the Feds September meeting. Natural gas trading range for the day is 183.4-192.Naturalgas prices tried to recovered from...
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