Copper tad higher on improved China outlook

 Copper futures were trading with slim gains as traders weighed upbeat Chinese economic data which signaled an improved demand outlook for the industrial metal.

China’s factory output and retail sales topped estimates in August, signaling a pickup in the world’s second biggest economy.

Industrial output climbed 6.3 per cent, year-on-year in August 2016, compared to a 6.2 per cent forecast by analysts while growth in retail sales accelerated to 10.6 per cent from 10.2 per cent.

At the MCX, copper futures for November 2016 contract is trading at Rs 316.4 per kg, up by 0.06 per cent, after opening at Rs 316.7, against a previous close of Rs 316.2. It touched an intra-day high of Rs 316.95 .

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Silver And Gold Down on weak global cues In the market today

 

Silver futures closed lower in the domestic market on Friday as participants reduced their positions taking weak cues from global market.

At the MCX, Silver futures for September 2016 contract closed at Rs 46,129, per 1 kg, down by 1.34 per cent after opening at Rs 46,626, against the previous closing price of Rs 46,755. It touched the intra-day low of Rs 46,030.

Gold futures closed lower in the domestic market on Friday after spending much of the session trading higher following disappointing economic data from the U.S. and China.

At the MCX, Gold futures for October 2016 contract closed at Rs 31,221, per 10 gram, down by 0.34 per cent after opening at Rs 31,250, against the previous closing price of Rs 31,327. It touched the intra-day low of Rs 31,131.

At Todays Market Copper Rises On Positive Global Cues

Copper futures closed higher in the domestic market on Tuesday as participants enlarged their positions, taking positive cues from overseas markets and pick-up in spot demand.

Market analysts attributed the rise in copper futures trade to a firming trend in the base metals pack at the LME as UK Chancellor of the Exchequer George Osborne sought to reassure markets following Britain's vote to leave the European Union and pick-up in spot demand.

At the MCX, Copper futures for June 2016 contract closed at Rs 325.80 per kg, up by 2.49 per cent after opening at Rs 319.90, against a previous close of Rs 317.90. It touched the intra-day high of Rs 326.70. 

 

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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.


Read More – Aluminum Updates

Copper Updates - Copper Advances On Positive Global Cues .

Copper futures closed higher in the domestic market on Wednesday buoyed by positive global cues, high domestic demand and a weak dollar.

The greenback softened, with the WSJ Dollar Index down about 0.2%, making the dollar-priced metal cheaper to buy for those holding other currencies. The dollar was lower as investors bet that the Fed, which wraps up a two-day policy committee meeting on Wednesday, would keep interest rates steady.

At the MCX, Copper futures for June 2016 contract closed at Rs 311.05 per 1 kg, up by 2.03 per cent, after opening at Rs. 305, against the previous closing price of Rs. 304.85. It touched the intra-day high of Rs. 314.50. 

 

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At Todays Market Copper Dips On Strong Dollar

Copper futures closed lower in the domestic market on Friday as headwinds from a mid-term U.S. rate hike that have boosted the dollar added to pressure from tepid physical demand in top user China. The dollar was bolstered by an unexpected drop in domestic jobless claims last week calming some worries about U.S. economic growth decelerating in the second quarter. A higher U.S. currency makes dollar-denominated commodities more expensive for non-U.S. firms, meaning they will buy less.

At the MCX , Copper futures for June 2016 contract closed at Rs 301.45 per 1 kg, down by 0.08 per cent, after opening at Rs. 302, against the previous closing price of Rs. 301.70. It touched the intra-day low of Rs. 299.15. 

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Copper Dips As Dollar Hike up in Domestic Market

 Copper futures closed lower in the domestic market on Thursday as dollar strengthened after U.S. data revived expectations of an imminent Fed rate rise, while higher inventories reinforced negative sentiment.

The dollar was bolstered by an unexpected drop in domestic jobless claims last week calming some worries about U.S. economic growth decelerating in the second quarter.

A higher U.S. currency makes dollar-denominated commodities more expensive for non-U.S. firms, meaning they will buy less.

 

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Top Headlines For Todays Stock Market

                                                         Stock Market Headlines

• Sensex, Nifty open weak; Adani Ports falls 5%, Hindalco down.
• Jindal brothers sign $976 million power deal .
• Asian markets mostly lower, ASX down 1.2%, HK down 1%.
• Wall Street loses ground on growth fears, oil slide .
• Global sell-off a passing phase, rally to resume later .
• Trump wins Indiana primary; becomes GOP presumptive nominee .
• Brexit could 'loom large' over June policy meeting: Lockhart .
• GST, land reforms key to boost India's economic growth:
• See Brent at $50/bbl by year-end; weak $ to aid gold rally.
• Bulls Eye: Buy HDIL, Jet Airways, Voltas, Tata Comm, Biocon .
• Stocks in news: JSW Energy, JSPL, NTPC, Future Retail, IFCI.
• Are IPOs back in vogue? So far 2016 has been a mixed bag.
• Call drops: Telecom companies under heavy debt, SC told .
• MRF Q4 net profit up 13% to Rs 376 crore .
• Proposal to ensure air ticket for Rs 2,500 for 1-hr journeys .
• Nawaz Sharif vows to quit if proved guilty in Panama case.
• Read More - Stock Tips

Top Headlines of Stock Market on 22nd of April

                                              Stock Market News 

• Asia lower; ASX down 0.6%, Nikkei drops 0.3%, Kospi loses 0.4%
• Wall Street cedes ground after mixed bag of earnings
• Modi passionate about developing country: Mahesh Sharma
• Vodafone invites banks to pitch for $2-2.5 bn Indian IPO
• Banks need structural, internal upgrades to reduce NPLs
• ECB keeps rates unchanged at record low as expected
• HDFC Bank Q4 profit seen up 21%, retail may drive loan growth
• Govt unlikely to push labour reforms bills in next Parl session
• Stocks in news: Tata Steel, DHFL, Dishman Pharma, SKS Micro
• Bull's Eye: Buy Infosys, REC, EIL; sell TVS Motor, Wockhardt
• Exclusive : Govt kick-starts NMDC stake sale process, invites bids
• ATC concludes Viom purchase for Rs 7,635 crore
• Rajan, Pichai, Bansals among 100 most influential people: TIME
• FinMin looks to expedite clearances to FDI proposals
• Need level-playing field for algo trades, Sebi tells brokers
• Solar firm SunEdison files for bankruptcy
• Uttarakhand battle shifts to Delhi, Centre to move SC
• Read More - Stock tips

Top Buzzling Headlines Of Stock Market For Monday Morning

                                                                 Stock Market Headlines

• Oil prices tumble 5% after producers fail to coordinate output .
• TCS Q4 net seen up 2%, dollar revenue may grow 1.4%: Poll.
• Post Q4, prefer Infosys to TCS: Prabhudas Lilladher .
• Exclusive : FCI dispute may lead to Punjab state loan being declared NPA .
• Exclusive : FCI dispute may lead to Punjab state loan being declared NPA
• Mallya's group denies he diverted Rs 430 crore loan money .
• FMCG, auto to gain from monsoon hope, but hang on: Pioneer.
• US jury slaps $940mn fine on Tata cos in trade secret case .
• Don't see huge tumble in crude; seasonal weakness likely.
• Stocks in news: Infosys, TCS, ITC, Symphony, NALCO, DCB, Voltas .
• In need of cash, India chases $117 bn in elusive back taxes .
• Companies line up IPOs worth Rs 15,000 cr .
• Mindtree Q4 dollar revenue may grow 3.8%; net seen up 1.4%.
• GAIL to use drones to secure gas pipelines .
• Daikin sees 20% growth in home AC sales on early summer .
• Infosys co-founder launches app chronicling Indian IT journey .
• Read More - Stock Tips

!3 April Stock Market Top Headlines:-

                                                          Stock Market Headlines

• Crude rally is a hope rally, may not sustain itself:
• Paytm, MobiKwik, Oxigen watch out! UPI set to eat up your lunch
• India's exports may settle at $50-260 bn in 2015-16
• Panama raids offices of Mossack Fonseca law firm
• Foreign, PE players eye Lafarge's India assets: Sources
• Better monsoon to help co achieve 10-15% growth: PI Industries
• Japanese consortiums bid for GAIL's $7 bn tender
• Wipro to consider buyback of equity shares on April 20
• Stocks in news: L&T, Wipro, Shilpa Medicare, Madhucon, Cairn
• SC asks IBA, FinMin to respond to loan default case
• Monsoon to be above avg; 94% chance of normal-excess rains: IMD
• L&T Finance to raise Rs 750 cr via NCDs
• Customs dept imposes Rs 33 cr fine on Tata Sponge Iron
• Fed's Williams says two or three US rate hikes 'reasonable'
• Govt asks BHEL to take initiatives for power sector
• India to appeal against WTO panel ruling in solar case 
• Read More - Stock Tips

Copper in Reverse Gear on weak Physical Demand

Copper futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the domestic spot market. Further, fears of weak demand from China, the world’s biggest metals consumer, after the country’s biggest cities including Shanghai and Shenzhen introduced property curbs weighed on the industrial metal.   Read more- Copper Tips .

At the MCX, Copper futures for April 2016 contract were trading at Rs. 323.5 per 1 kg, down by 1.01 per cent, after opening at Rs. 325.25, against the previous closing price of Rs. 326.5. It touched the intra-day low of Rs. 321.9.

Copper Updates - Improved Global Demand Outlook Buoys Copper

Copper futures advanced during late morning trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper, in the domestic spot market

 Further, finance heads from the Group of 20 countries sought to revive confidence in the global economy with the People’s Bank of China Governor saying that the Chinese central bank had at its disposal, more room to act and bolster economic growth in the world’s biggest metals consumer.
 

At the MCX, Copper futures for February 2016 contract were trading at Rs.317.2 per 1 kg, up by 0.70 per cent, after opening at Rs. 316, against the previous closing price of Rs. 315. It touched the intra-day high of Rs. 317.5. 

 

Read More - Stock tips 

Copper Updates - Copper Bites the Dust On China fears

Copper Updates - Copper futures fell during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as weak demand from China, the world’s biggest metals consumer, soured sentiment.

Copper stockpiles tracked by the Shanghai Futures Exchange hit a record high 277,000 tons, more than doubling since the end of August, while China weakened the Yuan by the most in six weeks, signaling a deepening slowdown in the world’s second biggest economy. The People’s Bank of China cut its daily reference rate by 0.17 per cent, a sign that the country’s economic health was probably deteriorating.

 

At the MCX, Copper futures for February 2016 contract were trading at Rs.318.3 per 1 kg, down by 0.78 per cent, after opening at Rs. 320.4, against the previous closing price of Rs. 320.8. It touched the intra-day low of Rs. 317.2.

Copper Updates - China Demand Hopes Buoy Copper

Copper Updates - Copper futures advanced in the domestic market during late morning trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid hopes that fresh measures by China, the world’s biggest metals consumer, to bolster growth in the country’s economy may lift demand.

The Chinese central bank relaxed curbs on the amount that banks can pay as deposits and charge for loans, while the country’s cabinet discussed reducing the minimum ratio of provisions that lenders can set aside for bad loans.

 

At the MCX, Copper futures for February 2016 contract were trading at Rs.316.85 per 1 kg, up by 0.65 per cent, after opening at Rs. 314.9, against the previous closing price of Rs. 314.8. It touched the intra-day high of Rs. 316.95.

Evening Updates - Copper Gains 1.05 pct on Strong German Data

Copper News - Copper prices Rose by 1.05 per cent on Tuesday after the number of unemployed people in Germany fell more than expected in January, while the unemployment rate hit an all-time low signaling improving labor market in the region which raised the demand outlook for the metal. The number of unemployed people decreased by a seasonally adjusted 20,000 last month, better than expectations for a drop of 7,000. Jobless claims fell by 16,000 in December, whose figure was revised from a previously reported decline of 14,000.
 

At the MCX, copper futures for February 2016 contract were trading at Rs.313.40 per 1 kg, up by 1.05 per cent, after opening at Rs. 309.50 against the previous closing price of Rs. 310.15. It touched the intra-day high of Rs. 314.50 till the trading.
 

Prices also rose due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 375 metric tonnes to 240475 metric tonnes as on February 2, 2016.

Copper scores Modest gains ; China Slowdown Weighs

Copper Updates - Copper futures rallied modestly during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amidst a pickup in physical demand for copper in the domestic spot market.

 

However, worries that a worsening economic slowdown in China, the world’s biggest metals consumer, may curb the demand for the industrial metal, trimmed gains in copper as China’s stock markets declined for a second straight day as traders seemed unsure over policymakers’ ability to manage an economic slowdown and tackle financial volatility.
 

The IMF has predicted China’s economy to grow at the weakest pace since 1990 at 6.3 per cent this year as the country wrestles to manage a transition from an export & investment-led economy to a one powered by services and consumption.
 

At the MCX, Copper futures for February 2016 contract is trading at Rs 298.2 per kg, up by 0.29 per cent after opening at Rs 297.6, against the previous closing price of Rs 297.35. It touched the intra-day high of Rs 299.95 .

Agro Update - Cardamom falls 0.64% on sluggish Demand

Cardamom prices fell by 0.64 per cent on Friday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for January 2016 contract were trading at Rs. 820 per kg, down by 0.64 per cent, after opening at Rs. 821 against the previous closing price of Rs. 825.30. It touched the intra-day low of Rs. 820 till the trading. (At 10.45 AM today). Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.
 

Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

Cabinet Clears New Crop Insurance Scheme

The Government on Wednesday has given its approval to a crop insurance scheme that would replace the existing ones to ensure that farmers pay less premium and get early claims for the full sum insured. 

A decision on the much awaited scheme was taken at the Cabinet meeting, headed by Prime Minister Narendra Modi.

“The cabinet has cleared the agriculture ministry’s proposal on new crop insurance scheme,” according to sources.

The new crop insurance scheme, to be implemented from the kharif season this year, will replace the existing two schemes National Agricultural Insurance Scheme (NAIS) and Modified NAIS which have some inherent drawbacks.

Copper Update - Copper Drops As China Markets Plunge Again

Copper Update - Copper prices fell by 2.09 per cent on Monday as steep declines on Chinese stock markets dampened appetite for the red metal. Market players are concerned that the plunge in the stock market could spread to other parts of the Chinese economy, triggering fears that the Asian nation's demand for the industrial metal will decline.
 

At the MCX, copper futures for February 2016 contract were trading at Rs.295.10 per 1 kg, down by 2.09 per cent, after opening at Rs. 300.60 against the previous closing price of Rs. 301.40. It touched the intra-day low of Rs. 294.55 till the trading. 

 

However, losses were limited due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1350 metric tonnes to 235300 metric tonnes as on January 11, 2016.