Stock Market News: Chana prices ended lower by 0.39 % on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for April 2015 contract ended at Rs. 3,610 per quintal, down by 0.39 %, after opening at Rs. 3,621 against the last ending price of Rs. 3,624. It touched the intra-day low of Rs. 3,606. India is the biggest producer of chickpea followed by Pakistan, Turkey and Iran. India produces throughout 6 to 8 million tonnes and contributes around 70 % of the total world production.
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EQUITY HNI
EQUITY HNI: BUY CADILAHC ABOVE 1695 TGTS 1710/1735 SL 1680
ULTRA EQUITY
ULTRA CASH: BUY MRPL ABOVE 64.50 TGTS 65.50//67.50 SL 63.50
STOCK OPTIONS
OPTION: BUY VOLTAS 280 CALL ABOVE 12.75 TGTS 13.75/15.25/17.75 SL 11.25
STOCK FUTURES
FUTURE: BUY LUPIN ABOVE 2003 TGTS 2009/2019/2033 SL 1995
ULTRA OPTIONS
ULTRA OPTION: BUY HEXAWARE 300 CALL ABOVE 14.75 TGTS 15.75/17.75 SL 13.75
STOCK FUTURES
FUTURE: SELL AXIS BANK BELOW 543 TGTS 540/535/528 SL 547
EQUITY TIPS
CASH: BUY RALLIS INDIA ABOVE 216.75 TGTS 218.75/221.75/226.75 SL 214.75
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OPTION HNI: BUY HDIL 100 CALL ABOVE 8.50 TGTS 9.25/10.25 SL 7.75
STOCK FUTURES
FUTURE: BUY BPCL ABOVE 774.50 TGTS 777.50/783.50/790.50 SL 770.50
NIFTY FUTURES
NIFTY: BUY BANK NIFTY ABOVE 18080 TGTS 18120/18180/18280 SL 18030
COMMODITY HNI
MCX: COPPER R=392/395 S=385/382, ALUMINIUM R= 112.65/ 113.25 S=111.65/111.00 LEAD R=115.70/116.30 S=114.50/ 114.00, ZINC R=130.80/131.40,S=129.70 /129.10
Mustard seed prices ended higher by 0.18 % on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At the NCDEX, mustard seed futures for April 2015 contract ended at Rs. 3,383 per quintal, up by 0.18 %, after opening at Rs. 3,384 against the last ending price of Rs. 3,377. It touched the intra-day high of Rs. 3,395. India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.
Jeera prices ended higher by 0.65 % on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for April 2015 contract ended at Rs. 14,605 per quintal, up by 0.65 %, after opening at Rs. 14,550 against the last ending price of Rs. 14,510. It touched the intra-day high of Rs. 14,680.
Barley prices ended higher by 1.12 % on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of strong demand from beer and cattle-feed making industries against restricted supply in physical markets. At the NCDEX, barley futures for April 2015 contract ended at Rs. 1,130 per quintal, up by 1.12 %, after opening at Rs. 1,121.5 against the last ending price of Rs. 1,117.5. It touched the intra-day high of Rs. 1,134.5.
Maize prices ended lower by 0.56 % on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At the NCDEX, maize futures for April 2015 contract ended at Rs. 1,235 per quintal, down by 0.56 %, after opening at Rs. 1,252 against the last ending price of Rs. 1,242. It touched the intra-day low of Rs. 1,208.
Crude oil futures increased in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as Saudi Arabia and its nine allies began bombing targets in Yemen, fueling fresh fears of unrest in the Middle East, raising concerns over disruptions in oil shipments from the oil-rich region.
The number of Americans who filed for claiming unemployment benefits fell to the lowest level in five weeks while services in the US expanded at the fastest clip since September in March, signaling a pickup in the world’s biggest economy, lifting the demand outlook for the fuel. US jobless claims fell 9,000 to 282,000 in the week ended March 21, 2015. The gauge measuring US services activity rose to 58.6 in March from 57.1 in February, with a reading above 50 signaling expansion. Oil may continue its bullion ride today amid renewed Middle East tensions which may disrupt supplies.
At the MCX, Crude oil futures, for the April 2015 contract, ended at Rs 3,253 per barrel, up by 5.14 %, after opening at Rs 3,114, against the last close price of Rs 3,094. It touched an intraday high of Rs 3,368 till the ending.
Gold futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend in the overseas market as fresh tensions in the Middle East boosted the safe haven demand for gold. A top US Federal Reserve official ruled out the case for an imminent rate lift-off, bolstering the appeal of the bullion as a store of value. Federal Reserve Bank of Atlanta President Dennis Lockhart sees the rate lift-off coming in at mid-year or even later amidst mixed signals from the world’s biggest economy. Gold may trade subdued today amid caution ahead of the speech of Fed Chair Janet Yellen who will speak at the Federal Reserve Bank of San Francisco Conference on Friday on “The New Normal for Monetary Policy”, and may offer cues over the timing to undertake the maiden US interest rate hike since 2006.
At the MCX, Gold futures for April 2015 contract ended at Rs 26,801 per 10 gram, up by 1.2 % after opening at Rs 26,590, against the last ending price of Rs 26,483. It touched the intra-day maximum of Rs 26,988 till the ending.
Natural gas futures tumbled in the domestic and overseas market on Thursday as investors and speculators exited positions in the energy commodity after US gas stockpiles rose last week for the first time since April, signaling weakening demand for the heating fuel in the world’s biggest fuel consumer. US gas supplies climbed by 12 billion cubic feet in the week ended March 20, 2015, the EIA said, compared to expectations for a 10 billion cubic feet gain, Stockpiles fell 56 billion cubic feet in the same week last year while the five-year average decline stood at 19 billion cubic feet.
At the MCX, Natural Gas futures for March 2015 contract ended at Rs 166.8 per 1 kg, down by 2.46 % after opening at Rs 170.90, against the last ending price of Rs 171. It touched the intra-day low of Rs 166.1 till the ending.
Zinc futures ended bigger in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal after German consumer confidence surged to the highest level in 14 years, signaling a pickup in Europe’s biggest economy, lifting the demand outlook for zinc. At the MCX, Zinc futures for March 2015 contract ended at Rs 130.90 per 1 kg, up by 0.85 % after opening at Rs 130, against the last ending price of Rs 129.80. It touched the intra-day high of Rs 132.80 till the ending.
About Forex Market
Dollar slide against euro, yen after weak US data
The dollar slide against the yen and euro Thursday after poor US data demising confidence in the world's top economy and threw into question the timeline for a long-awaited Federal Reserve interest rate hike. In Tokyo, the greenback slip to 118.99 yen, from 119.43 yen in New York and 119.62 yen in Asia. The euro increase to $1.0986 from $1.0973 after an upbeat German business confidence report, but the unit relieved to 130.75 yen from 131.05 yen.
About Derivatives Market Updates
Bank Nifty Index opened downward at 18138.10 with -171.30 points from the last day ending at 18310.10 and ended negative at 17831.65. From the opening we saw constantly selling in Bank Nifty, Bank Nifty Index opened with day maximum of 18224.10 and slide downward with continues selling and near ending Nifty Index traded with day low of 17729.10 and ended negative at 17831.65 with -2.61%, -478 points downward. At the end of the market day Bank Nifty futures Loosed -2.72%, -497.75 points downward to close at -17830.20 from the last day ending at 18327.95 with discount of -1.45 points and percent change in open interest of -26.70%.
Nifty futures opened gap downward at 8489.00 with -49.00 point from the last day ending at 8535.00. From the opening we saw constantly selling in Nifty Futures Nifty Futures opened with day maximum of 8499.00 and slide downward with continues selling and near ending Nifty Index traded with day low of 8328.75 and ended negative at 8342.00 with -2.26%, -193.00 points downward. And the full day Nifty Index traded between 8499.00 to 8328.75. At the end of the day Nifty futures Loosed -2.26%, -193.00 points downward to close at -8342.00 from the last day ending at 8535.00 with discount of -0.15 points and percent change in open interest of -16.63%.
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