Stock Market Updates For 26 February 2015

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Stock Market News for Crude oil futures closed lower in the domestic market on Wednesday as investors exited positions in the energy commodity after US crude oil stockpiles increased for a seventh straight week, expanding to a record max, worsening a global supply glut.

US crude supplies increased by 8.43 million barrels to 434 million barrels in the week closed 20 February 2015, the biggest in at least 80 years. US oil output increased 5,000 barrels/day to 9.29 million barrels/day, the biggest since January 1983. Sales of new homes in the US fell somewhat in January, signaling a weakening demand outlook for the fuel in the world’s biggest oil consumer. US new home sales slide to an annualized pace of 481,000 in January from 482,000 in December.

However, Saudi Arabia, OPEC’s largest oil exporter, said that it sees an uptick in global desired. A regained in manufacturing in China lifted the desired outlook for oil, cutting losses in the fuel. The gauge measuring Chinese manufacturing increased to 50.1 in February from 49.7 in January, with a reading above 50 signaling growth.

Oil may continue a decline today as record US supplies threaten to widen a global oversupply. Crude oil futures, for the March 2015 contract, ended at Rs 3,117/barrel, downward by 0.16 %, after opening at Rs 3,100, against the last close price of Rs 3,122. It touched an intraday low of Rs 3,030 till the ending.

Mcx commodity tips for Gold futures increased in the domestic market on Wednesday as investors booked fresh positions in the precious metal after Fed Chair Janet Yellen ruled out an interest rate increase in the immediate term as there is little evidence of a rise up in the expansion to the 2 % target while an improvement in the labour market hasn’t yet lifted wage growth, booming the case for continued easy money policy, boosting the appeal of the bullion as a store of value. Gold futures may expand a rally today ahead of the US jobless claims data which may show an hike in claims last week, signaling a slowing labour market regaining, and booming the case for a continued easy money policy. Gold futures for April 2015 contract ended at Rs 26,123/10 gram, upward by 0.25 % after opening at Rs 26,079, against the last ending price of Rs 26,059. It touched the intra-day maximum of Rs 26,319 till the ending.

Copper futures slide in the domestic market on Wednesday as investors exited positions in the industrial metal as China’s manufacturing data failed to allay concerns over a deepening slowdown in the world’s largest metals consumer. While manufacturing in China bounced back into expansion territory in February, a gauge of new orders contracted the most since June 2013, signaling an uncertain desired outlook for industrial metals in the world’s second largest economy. The gauge measuring Chinese manufacturing increased to 50.1 in February from 49.7 in January, with a reading above 50 signaling expansion.

Copper futures for February 2015 contract ended at Rs 365.50/1 kg, downward by 0.18 % after opening at Rs 364.80, against the last ending price of Rs 366.15. It touched the intra-day low of Rs 362.55 till the ending.

Zinc futures jumped in the domestic market on Wednesday as investors closed positions in the industrial metal amid weak physical desired for zinc in the domestic spot market. Further, a fall in US new home sales last month signaled a weakening housing regaining in the world’s largest economy, dimming the desired outlook for zinc, a widely used metal in construction activities. US new home sales slide to an annualized pace of 481,000 in January from 482,000 in December. Zinc futures for February 2015 contract ended at Rs 126.85/1 kg, downward by 1.05 % after opening at Rs 128.75, against the last ending price of Rs 128.20. It touched the intra-day low of Rs 126.60 till the ending.

Natural Gas futures tumbled in the domestic market on Wednesday as investors exited positions in the energy commodity as forecasts called for warmer weather across the US, faded the demand outlook for the heating fuel. Natural Gas futures for February 2015 contract ended at Rs 177.50/1 kg, downward by 4 % after opening at Rs 183.60, against the last ending price of Rs 184.9 It touched the intra-day low of Rs 176.7 till the ending.

About Derivative Makret

Bank Nifty Index opened upward at 18969.20 with +85.40 points from the last of day ending at 18883.80 and ended negative at 18733.05. From the opening we saw constantly selling in Bank Nifty, Bank Index opened with day maximum of 19069.15 and near ending of the market Bank Index traded with day low of 18700.20 and at the end of the market Bank Index ended negative at 18733.05 with -0.80%, -150.75 points downward. At the end of the market day Bank Nifty futures Gained profit of +0.58%, +109.00 points upward to end at 18996.55 from the last day ending at 18887.55 with premium of 263.50 points and percent change in open interest of +3.76%.

Nifty futures opened upward at 8825.00 with +28.80 points from the last day of ending at 8773.30. From the opening we saw continuous selling in Nifty. Nifty opened with day maximum of 8847.90 and slided downward, and near 2.45 o’clock Nifty futures traded with day low of 8796.20 but till ending Nifty regained and ended positive at 8827.00 with +0.61%, +53.70 points up. And the full day Nifty Futures traded between 8847.90 to 8796.20. At the end of the day Nifty futures Gained profit of +0.11%, +10.05 points upward to end at 8829.00 from the previous day ending at 8773.30 with premium of +61.75 points and percent change in open interest of +0.89%.

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