Market News and Budget Special's for 28 Feb 2015

Stock Market News for Cardamom future increased in the domestic commodity market on Friday, splinter three days of losses after traders and speculators booked new positions in the commodity. Furthermore, limited supplies from the producing areas lifted upward the prices of the agri commodity. Cardamom futures for March 2015 contract were trading at Rs. 1064.20/kg, upward by 0.69 %, after opening at Rs. 1068 against the last ending price of Rs. 1056.90. It touched the intra-day low-lying of Rs. 1057.40 till the trading.

Castor seed prices increased by 0.47 % on Friday at the National Commodity & Derivatives Exchange Limited as a result of fresh desired of the commodity in the leading mandies. Castor oil, extracted from castor seed is the biggest vegetable oil exported out of India. India is the largest exporter of castor oil holding about 70 % share of the international trade in this commodity followed by China and Brazil. Castor seed futures for March 2015 contract was trading at Rs. 3,659/quintal tonnes, upward by 0.47 %, after opening at Rs. 3,633 against the last ending price of Rs. 3,642. It touched the intra-day maximum of Rs. 3,667 till the trading.

The prices of crude palm oil increased at the domestic commodity market on Friday after traders and speculators booked new positions in the agri commodity. Furthermore, cramped supplies from the producing areas also supported the agri commodity. CPO futures for February 2015 contract were trading at Rs. 454.50/kg, upward by 0.31 %, after opening at Rs. 453.70 against the last ending price of Rs. 453.70. It touched the intra-day maximum of Rs. 454.50 till the trading.

Copper futures rise in the domestic market on Friday as a regained in US durable goods orders last month signaled a rise up in the world’s largest economy, lifting the desired outlook for the base metal. Bookings for US goods meant to last at minimum three years arise for the first time in three months, upward 2.8 % in January from December when they slide a revised 3.7 %. Copper futures for February 2015 contract ended at Rs 369.45/1 kg, upward by 0.16 % after opening at Rs 367, against the last ending price of Rs 368.85. It touched the intra-day maximum of Rs 369.95 till the ending.

Gold futures slide in the domestic market on Friday as investors closed positions in the precious metal as a deepening sell-off in oil threatened to push global expansion even lower, fadding the appeal of the bullion, a hedge against increasing consumer prices. However, gambles that the US Fed may delay a planned rate boosted the appeal of gold as a store of value, restain losses in gold. A pickup in physical desired for gold from China, the world’s second largest bullion consumer supported sentiment as China’s net gold imports from Hong Kong increased to 71.6 metric tons in January from 58.8 tons in December. Gold futures for April 2015 contract is trading at Rs 26,178 /10 gram, downward by 0.14 % after opening at Rs 26,240, against the rearmost ending price of Rs 26,216. It touched the intra-day low-lying of Rs 26,151 till the ending.

Market News for Crude oil futures expanded a sell-off in the domestic market on Friday, amid worries over a global oversupply as US crude stockpiles increased for the seventh week on the trot, expanding to a new maximum. However, the losses in the fuel were restrained after the IEA saw a rebalancing in the oil market in the coming months as a price sink boosts consumption and eases supplies while global oil desired increased by 2.2 million barrels/day in December 2014, year on year, the largest profit gain in 18 months. Crude oil futures, for the March 2015 contract, are trading at Rs 3,046/barrel, downward by 0.29 %, after opening at Rs 3,046, against the last close price of Rs 3,055. It touched an intraday low-lying of Rs 3,042 till the ending.

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