Stock Market News: The Indian government has announced that India's steel imports have risen 28 per cent to USD16.29 billion (about Rs 1.04 lakh crore) last fiscal, PTI reported. As per PTI report, India is the world's fourth-largest steel producer and had imported steel worth USD12.71 billion in 2013-14. India's out-bound shipment of the metal has grown marginally to USD 16.24 billion in 2014-15, from USD16.03 billion in the year-ago period. "India has been a net importer of steel since 2007-08 until 2013-14 when the country became a net exporter for that year only. In 2014 - 2015 again, India was a net importer of steel,” "In the present deregulated market set-up, imports of steel are completely market driven and take place mainly due to the domestic non-availability or limited availability of specialized steel products and partly due to price considerations,".
Crude oil futures jumped in the domestic and overseas market on Friday as investors and speculators booked fresh positions in the energy commodity as a twenty-second straight weekly drop in US oil rig count signaled that the US shale oil boom may have peaked with output expected to head southwards, easing worries over a global supply glut. The number of US oil rigs in operation fell by 11 to the lowest level since September 2010 at 668 last week, Baker Hughes said. However, weaker than expected US jobs data signaled a slowdown in the labor market of the world’s biggest economy, cloudung the demand outlook for the fuel, trimming gains in crude oil futures. American employers added 223,000 jobs in April, just missing expectations of a 224,000 rise while March’s payrolls gains were downwardly revised to 85,000. The jobless rate fell to 5.4 per cent in April from March’s 5.5 per cent. Oil may extend gains today amid hopes of falling US production.
At the MCX, Crude oil futures, for the May 2015 contract, closed at Rs 3,796 per barrel, up by 0.16 per cent, after opening at Rs 3,766, against the last closing price of Rs 3,790. It touched an intraday high of Rs 3,830 till the closing.
Monday Market Trading Tips
ULTRA EQUITY
ULTRA CASH: BUY KRBL ABOVE 171.75 TGTS 173.75/176.75 SL 169.75
STOCK FUTURES
FUTURE: BUY AURO PHARMA ABOVE 1321 TGTS 1327/1337/1351 SL 1313
ULTRA EQUITY
ULTRA CASH: KRBL BUY CALL HIT 1ST TGT 173.75 CMP 175.20 BOOK PART PROFIT
DOMESTIC FOREX PACK
FOREX: BUY GBP/INR ABOVE 98.70 TGTS 98.85/99.05 SL 98.50
EQUITY HNI
EQUITY HNI: BUY MCX ABOVE 992 TGTS 1002/1017 SL 980
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ULTRA FUTURE: BUY ADANI ENTERPRISE ABOVE 696 TGTS 701/708 SL 691
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FUTURE: AURO PHARMA HIT 1ST TGT 1327 HIGH OF 1331 BOOK PART PROFIT
STOCK OPTIONS
OPTION: BUY RECLTD 290 PUT ABOVE 5 TGTS 6/7.50/10 SL 3.50
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ULTRA FUTURE: ADANI ENTERPRISE HIT 1ST TGT 701 HIGH OF 703.75 BOOK PART PROFIT
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ULTRA CASH: BUY BHARATFORGE ABOVE 1253 TGTS 1263/1278 SL 1241
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