Commodity Updates - Aluminum surges as demand strengthens

Investors focus returned from safe-haven assets amid rebound in global equities and supply tightening, supported the uptrend in prices of Aluminum futures.

At the MCX, Aluminum futures for June 2016 contract is trading at Rs 107.85 per kg, up by 0.23 per cent, after opening at Rs 108, against a previous close of Rs 107.60. It touched the intra-day high of Rs 108.05

Aluminum futures were trading higher during the morning trade in the domestic market on Friday as participants widened their positions as demand rises amid rebound in global equities.


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Sensex, Nifty closed on account of 'Ram Navami' : Asia subdued

The Domestic stock market will remain closed on Friday on account of a public holiday while Asian markets remain subdued as caution toward a weekend meeting of oil producers tempered risk sentiment.
 

US crude oil dipped 4 cents to $41.46 a barrel from its peak of $42 on concerns that the top producers' meeting may not result in tightening of supply.
 

Nifty India stock futures in Singapore were trading 4 point lower at 7,924. The index gained over 50 points in the previous sessions even though the domestic market remained shut on account of public holiday.
 

Japan's Nikkei 225 index which was trading 0.34 per cent lower at 16,853 and Hong Kong's Hang Seng index was trading 0.20 per cent lower at 21,310.
 

China shares remain subdued after data suggested that the world's second-largest economy grew at 6.7 per cent in the first quarter from a year earlier, meeting expectations.
 

Overnight, US stocks ended marginally higher in muted trading on Thursday, propped up by financial stocks. Bank of America and Wells Fargo posted lower quarterly profits and increased provisions to cover bad loans from their stressed energy portfolios,
 

Back home, investors will keep a close eye on Infosys results for the quarter ended March 31 which will be out later today.
 

Infosys, one of India's largest outsourcing firm, is expected to report 1.4 per cent quarter-on-quarter (QoQ) rise in net profit to Rs 3,514 crore for the quarter ended March 31, compared to Rs 3,465 crore reported in the year-ago period. 

 

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Sluggish physical Demand Drags Down Mentha Oil

Mentha Oil futures were trading lower during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the agri commodity amidst weak physical demand for Mentha Oil from the major consuming industries in the domestic spot market.

More than adequate supplies in the market amidst higher supplies from Chandausi in Uttar Pradesh also exerted downward pressure on Mentha Oil prices in the domestic market.
 

At the MCX, Mentha Oil futures, for the January 2016 contract, is trading at Rs 890.6 per kg, down by 0.29 per cent, after opening at Rs 893, against a previous close of Rs 893.2. It touched an intra-day low of Rs 889.5 .

Delhi odd-even scheme: Now twitter Will help you

New Delhi: Twitter Micro-blogging site will help Delhittes know the best way of transportation and route to take during the Fifteen-day odd-even car scheme.

Twitter India has partnered with the Delhi Gov to make its ambitious scheme to decrease pollution in the city a success.

By using the hashtag pollution free Delhi (#PollutionfreeDelhi) and entering the origin and destination, users will be updated information about the nearest bus and metro stop, said a Twitter official at a press meeting.

Transport Minister Gopal Rai outlined the details of the traffic rationing system.

He said the Gov. would run 3,000 additional buses starting from New Year.

Special hologram stickers have been issued in Delhi NCR to some 5 lakh CNG vehicles, which have been exempted from the rule.

The scheme, mooted by the city Gov, will be implemented on a trial basis between Jan 1 and 15.

Rai said the registration of 2,700 buses has been completed and the remaining 300 buses would be registered by Mon or Tue. "It will benefit 15-16 lakh people."

The Gov. had earlier vowed to add 6,000 buses but it was changed after 2 wheeler were exempted from the odd-even system.

Private vehicles with odd and even registration no. will ply on odd and even dates, respectively, from Jan 1st. According to the city gov, the restrictions will apply between 8 a.m. and 8 p.m. There would be no restrictions on Sunday.

Telecom Updates : Reliance Jio's launched 4G 28 Dec, 2015

 

Today, Shares of telecom operators were little changed in early trade after the Mukesh Ambani -led Reliance Jio Infocomm launched its much-awaited 4G service on yesterday, setting the stage for intense competition in the burgeoning $50 billion local telecom industry.

Bharti Airtel , india's largest telecom operator by subscriber base, fell down 0.98 per-cent to strike a low of 335.10.The scrip cut losses as the session progressed, but was still ruling in the red lines. The Sunil Mittal-led company has lined up a capex spend of Rs 60,000 cr over the up coming three years. It is seen as one of the players that can counter Reliance Jio's entry.

 

India's 3rd largest Idea Cellular , fell down 1.02 per-cent to Rs 139.70. It has bought Videocon's spectrum in Uttar Pradesh & Gujarat which will help the Aditya Birla group to launch 4G services in all the markets where it has leadership positions.

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