Thursday, 23 November 2017

Stock Market News : Cardamom future

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for December 2017 contract was trading at Rs 1031.50 per kg, up by 2.01 per cent, after opening at Rs 1024.90, against a previous close of Rs 1011.20. It touched the intra-day high of Rs 1035

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Wednesday, 22 November 2017

Market update in Crude oil prices

Oil prices rose on Wednesday as ongoing cuts of piped Canadian crude to the United States added to falling U.S. crude inventories, while expectations of a prolonged OPEC-led production cut also offered support.

U.S. West Texas Intermediate (WTI) crude futures were at $57.68 a barrel at 0454 GMT, up 85 cents, or 1.5 percent from their last settlement.

Brent crude futures, the international benchmark for oil prices, were at $62.97 per barrel, up 40 cents, or 0.6 percent.

Traders said the firm price lift was due to drop in crude supplies from Canada to the United States.

TransCanada Corp said it will cut deliveries by at least 85 percent on its 590,000-barrel-per-day (bpd) Keystone crude pipeline through to the end of November. The pipeline, which links Alberta's oil sands to U.S. refineries, was shut last week after a 5,000-barrel spill in South Dakota.

Traders said there was also some price support from a weekly report on Tuesday by the American Petroleum Institute which said U.S. crude inventories fell by 6.4 million barrels in the week to Nov. 17.

The latest official U.S. production and inventory data is due on Wednesday.
Outside North America, markets have been supported by an effort led by the Organization of the Petroleum Exporting Countries (OPEC) to restrain output in a bid to end a global supply overhang.

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Tuesday, 21 November 2017

Gold News Update : Gold edges higher

Gold prices bounced back on Tuesday ahead of the release of minutes of the U.S. Federal Reserve's previous meeting that could offer clues on the pace of the central bank's interest rate hikes.
The minutes of the Fed's last policy meeting, when it kept interest rates unchanged, will be released on Wednesday.

Spot gold was up 0.2 percent at $1,279.67 per ounce by 0439 GMT. The metal fell about 1.4 percent on Monday in its biggest one-day percentage drop since Sept. 11.
U.S. gold futures for December delivery gained 0.3 percent to $1,279.30.

Given the fact that the December rate hike is almost a done deal, market watchers will look more closely at what is the Fed rhetoric for post December," OCBC analyst Barnabas Gan said.

Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion.

Fed Chair Janet Yellen said on Monday she would resign her seat on the Fed's Board of Governors once Jerome Powell is confirmed and sworn in to replace her as head of the U.S. central bank.

The fact that Yellen has now confirmed to leave is adding a little bit of volatility as traders adjust their positions while they make sense of the implications of the incoming new Fed chairman Jerome Powell in terms of interest rate direction," said Loh Mun Chun, Director, Private Wealth at GoldSilver Central in Singapore.

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Monday, 20 November 2017

Commodity market News : Indian soyaoil, crude palm oil


Indian soyaoil and crude palm oil futures jumped by the daily maximum limit of 4 percent on Monday after the government raised import tax on edible oils, traders said. 
India has raised import tax on edible oil to the highest level in more than a decade, the government said in an order, as the world's biggest importer of edible oils aims to support its farmers.


Soyaoil futures were up 4 percent at 726.35 rupees ($11.16) per 10 kg at 0504 GMT, while crude palm oil futures were trading at 576.50 rupees per 10 kg, also up 4 percent.

Soybean futures jumped nearly 3 percent in early trade on Monday, while rapeseed futures were up 2 percent.

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Friday, 17 November 2017

Agri Commodity News - India rice prices

 Rice prices in India climbed this week, buoyed by improved overseas demand, but rising supplies from a new season crop capped gains for the staple grain in the world's top exporter.India's 5 percent broken parboiled rice prices rose by $2 per tonne to $399 to $402 per tonne.

"There was an improvement in demand from Bangladesh and Sri Lanka. African buyers were also making inquires," said an exporter based in Kakinada in the southern state of Andhra Pradesh.

In Thailand, benchmark 5-percent broken rice was quoted at $380-$387 a tonne, free-on-board (FOB) Bangkok, compared with $375-$387 last week.

Thai Hom Mali rice won the title of "World's Best Rice" at this year's World Rice Conference held in Macau last week and traders said this will have a positive impact on global demand for Thai rice.

"Due to floods in the northeast (part of Thailand) this year, where Hom Mali rice is grown, output of the crop has dropped, causing prices to rise. With this new development, I expect prices to rise 
further," said a Bangkok-based trader.

Traders were also optimistic that South Korea's tender to buy 132,790 tonnes of rice for December-March arrival may result in demand for Thai rice.

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Thursday, 16 November 2017

COMMODITY MARKET NEWS : Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

 Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for December 2017 contract was trading at Rs 1010 per kilo gram, up by 1.87 per cent, after opening at Rs 1002, against a previous close of Rs 991.50. It touched the intra-day high of Rs 1016(at 10:30 hours).

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Wednesday, 15 November 2017

Commodity market news : Metal stocks lose shine

BSE Metal index is trading at 13,965 down 309 points or 2.2% on weakness in the global base metal prices. The index had earlier touched high of 14,203.90 and a low of 13,884. It opened at 14,197.53.
The breadth in BSE Metal index is negative with 10 shares declining.

Jindal Steel & Power Ltd is currently trading at Rs 162.5, down by Rs 7.8 or 4.58% from its previous closing of Rs 170.3 on the BSE. The scrip opened at Rs 169 and has touched a high and low of Rs 169 and Rs 162.2 respectively.

National Aluminium Company Ltd is currently trading at Rs 81.95, down by Rs 3.1 or 3.64% from its previous closing of Rs 85.05 on the BSE. The scrip opened at Rs 85 and has touched a high and low of Rs 85 and Rs 81.55 respectively.

Hindalco Industries Ltd is currently trading at Rs 253.4, down by Rs 7.5 or 2.87% from its previous closing of Rs 260.9 on the BSE. The scrip opened at Rs 260 and has touched a high and low of Rs 260 and Rs 251.35 respectively.

Steel Authority of India Ltd is currently trading at Rs 78.1, down by Rs 1.7 or 2.13% from its previous closing of Rs 79.8 on the BSE.The scrip opened at Rs 79.7 and has touched a high and low of Rs 79.7 and Rs 77.2 respectively.

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