Stock Market News : Zinc futures closed with significant losses in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for Zinc in the domestic spot market. Moreover, economic sentiment in Germany plunged to the lowest level in seven months in June as fears over Greece threatened to stall the recovery of Europe’s biggest economy, clouding the demand outlook for industrial metals.
The gauge measuring German economic sentiment fell to 31.5 in June from 41.9 in May, ZEW said. Further, American builders broke ground on fewer homes in May as housing starts slumped 11.1 per cent to a 1.04 million annualized rate, signaling a cooling housing recovery in the world’s biggest economy, exasperating losses in the industrial metal. At the MCX, Zinc futures for June 2015 contract ended at Rs 134.15/1 kg, down by 0.67 per cent after opening at Rs 135.25, against the last closing price of Rs 135.05. It touched the intra-day low-lying of Rs 133.65 till the closing.
Natural Gas futures ended with modest losses in the domestic market on Tuesday as investors and speculators resorted to profit booking in the energy commodity following the sharp gains in the previous session when prices spiked over 4 per cent as warmer weather outlook in the US bolstered the demand prospects for the fuel which is used to fire up power plants as air conditioning demand rises at offices and homes. Latest weather forecasting models called for warmer-than-average temperatures in the eastern third of the US through June 24, 2015. About 49 per cent of American households use natural gas for cooling purposes. At the MCX, Natural Gas futures for June 2015 contract closed at Rs 184.70 per 1 kg, down by 0.38 per cent after opening at Rs 186, against the previous closing price of Rs 185.40. It touched the intra-day low-lying of Rs 182.50 till the closing.
Morning Trading Calls For 17 June 2015
ULTRA EQUITY
ULTRA CASH: BUY UBL ABOVE 890 TGTS 900/920 SL 878
EQUITY HNI
EQUITY HNI: BUY THERMAX ABOVE 935 TGTS 945/960 SL 920
EQUITY TIPS
CASH: BUY CENTRALBK ABOVE 100 TGTS 101/103/106 SL 98.50
NIFTY FUTURES
NIFTY: BUY BANK NIFTY ABOVE 17620 TGTS 17660/17715/17815 SL 17555
STOCK OPTIONS
OPTION: BUY IRB 230 CALL ABOVE 2.50 TGTS 3.50/5/7.50 SL 1
ULTRA OPTIONS
ULTRA OPTION: BUY IDEA 170 CALL ABOVE 3 TGTS 4/6 SL 2
EQUITY TIPS
CASH: SELL KTK BANK BELOW 129.60 TGTS 128.60/126.60/123.60 SL 131.10
EQUITY HNI
EQUITY HNI: BUY NAUKRI ABOVE 815 TGTS 825/845 SL 800
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