Stock Market News: Natural Gas futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather in the US in the coming days bolstered cooling demand for the fuel from gas-fired power plants. Updated weather forecasts called for above normal temperatures in the US Midwest and Northeast and the South, in the first 2 week of May. About 49 % of American households use natural gas for air-conditioning purposes.
At the MCX, Natural Gas futures for May 2015 contract closed at Rs 178.8 per 1 kg, up by 0.96 per cent after opening at Rs 177.7, against the last closing price of Rs 177.1. It touched the intra-day maximum of Rs 180.7 till the ending.
Crude oil futures slided in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as a surprise drop in US crude oil stockpiles last week signaled a pickup in demand for the fuel in the world’s biggest crude oil consumer. US crude oil supplies fell 3.9 million barrels in the week ended 1 May, the first decreased in four months, compared to a 1.5 million barrels rise expected by analysts. Cushing supplies fell 12,000 barrels to 61.7 million barrels last week, marking the second straight drop, the EIA said. US refineries operated at 93 per cent of their capacity last week, the highest rate in four months, and up from 91.3 per cent in the previous week. US oil production fell by 4,000 barrels per day to 9.369 million barrels last week, easing fears over a supply glut.
At the MCX, Crude oil futures, for the May 2015 contract, closed at Rs 3,882 per barrel, upward by 0.65 %, after opening at Rs 3,882, against the previous close price of Rs 3,857. It touched an intraday high of Rs 3,989 till the closing.
Market Calls For 7 May 2015
STOCK FUTURES
REVIA FUTURE: SELL BHEL BELOW 225 TGTS 223.50/221/217.50 SL 227
STOCK FUTURES
FUTURE: BUY CENTURY TEXTILE ABOVE 641.50 TGTS 644.50/649.50/656.50 SL 637.50
EQUITY HNI
EQUITY HNI: BUY CENTURYTEXTILE IN THE RANGE 630-631 TGTS 640/60 SL 620
STOCK FUTURES
FUTURE: CENTURY TEXTILE HIT 1ST TGT 644.50 CMP 646.50 BOOK PART PROFIT
STOCK FUTURES
FUTURE: BUY SSLT ABOVE 222.30 TGTS 223.80/226.30/229.80 SL 220.30
EQUITY TIPS
CASH: BUY TATASTEEL ABOVE 368 TGTS 370.75/375/380.75 SL 364
STOCK FUTURES
FUTURE: CENTURY TEXTILE ALMOST HIT 2ND TGT 649.50 HIGH OF 649.30 BOOK MORE PROFIT
ULTRA EQUITY
ULTRA CASH: BUY HDFC IN THE RANGE 1162-1163 TGTS 1175/1200 SL 1150
ULTRA FUTURES
ULTRA FUTURE: SELL HDIL BELOW 108.50 TGTS 107.25/105.50 SL 109.75
ULTRA FUTURES
ULTRA FUTURE: HDIL HIT 1ST TGT 107.25 LOW OF 107.10 BOOK PART PROFIT
STOCK FUTURES
FUTURE: CENTURY TEXTILE HIT FINAL TGT 656.50 HIGH OF 659.60 BOOK FULL PROFIT
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