Aluminium keeps head during morning trade in market

 

Aluminium futures were trading higher during morning trade in the domestic market on Wednesday as participants indulged in building up fresh bets in the industrial metal amid uptick in physical demand for aluminium at the domestic spot market.

Further, rise in physical demand for aluminium at the domestic spot market was led by widening of bets by traders in the spot market, supported aluminium prices at futures trade.

At the MCX, aluminium futures for December 2016 contract is trading at Rs 118.60 per kg, up by 0.25 per cent, after opening at Rs 118.30, against a previous close of Rs 118.30. It touched the intra-day high of Rs 118.60 

Read More - Aluminium Updates

Aluminium keeps head above water during morning trade

 

Aluminium futures were little changed during morning trade in the domestic market on Friday as participants build up fresh bets in the industrial metal amid increase in physical demand for aluminium at the domestic spot market.

Further, surge in physical demand for aluminium at the domestic spot market was led by widening of positions by traders in the spot markets, supported aluminium prices at futures trade.

At the MCX, aluminium futures for December 2016 contract is trading at Rs 118.55 per kg, up by 0.04 per cent, after opening at Rs 118.50, against a previous close of Rs 118.50. It touched the intra-day high of Rs 118.70.

 

Read More -  Aluminium Updates

Aluminium futures gain 0.26% on upsurge in physical demand

 

Aluminium futures were trading higher during morning trade in the domestic market on Thursday as participants build up fresh positions in the industrial metal amid uptick in physical demand for aluminium at the domestic spot market.

Further, increase in physical demand for aluminium at the domestic spot market was led by widening of positions by traders in the spot markets, supported aluminium prices at futures trade.

At the MCX, aluminium futures for December 2016 contract is trading at Rs 116.25 per kg, up by 0.26 per cent, after opening at Rs 116.05, against a previous close of Rs 115.95. It touched the intra-day high of Rs 116.40 .

 

Read More - Aluminium Updates

Today Aluminium futures Gain on uptick in Demand

 

Aluminium futures were trading marginally higher during the morning trade in the domestic market on Monday as participants indulged in building up of fresh positions amidst increase in physical demand for aluminium in the domestic spot market.

Further, uptick in demand for aluminium at the domestic spot market was mainly on account of widening of fresh bets by participants in the spot markets, supported aluminium prices at futures trade.

At the MCX, aluminium futures for August 2016 contract is trading at Rs 109.65 per kg, up by 0.09 per cent, after opening at Rs 109.65, against a previous close of Rs 109.55. It touched the intra-day high of Rs 109.85.

Read More - Aluminium Updates

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.

Today Lead futures surge on spot demand at the Market

Lead futures were trading higher during the morning trade in the domestic market on Wednesday as participants widened their positions in the industrial metal amid a surge in physical demand for lead, from battery-makers, in the domestic spot market.

Further, increase in demand from battery-makers in the domestic spot market, supported the prices of lead in the spot markets. At the MCX, Lead futures for August 2016 contract is trading at Rs 121.15 per kg, up by 0.29 per cent, after opening at Rs 120.80, against a previous close of Rs 120.80. It touched the intra-day high of Rs 121.30 

Read More - lead Updates

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.

 

 For More Detail  

 

 

 

SEBI Updates - SEBI Pitches India To Silicon Valley Investors

 

The Head of India`s financial markets regulator visited Silicon Valley this week to promote rule changes in his country protecting minority shareholders and encourage more investment in his country`s thriving technology startups.

U.K. Sinha, chairman of the Securities and Exchange Board of India (SEBI), said improved regulations make it much easier for investors in the country`s over-4,000 technology startups to eventually cash out through initial public offers in Asia`s third-largest economy.

"The technology startup scene in India has picked up dramatically," Sinha told Reuters in an interview on Thursday. "A lot of investment has taken place in those companies from Silicon Valley. The question is how they exit, and what is the minority shareholder protection available to them?"

A 2013 overhaul of India`s corporate governance rules clamped down on related-party transactions benefiting majority shareholders. It also beefed up the role of independent directors and audit committees on company boards.Minority shareholders in India now have stronger rights than in the United States, Sinha said.

In Silicon Valley, corporate governance can be a thorny issue. In April, Facebook said it would create a new class of non-voting shares so that Chief Executive Officer Mark Zuckerberg could give away his wealth without relinquishing control of the social media juggernaut he founded.

 

Read More - SEBI Updates

Good News ! No TDS for PF withdrawals of up to Rs 50,000 from June 1.

 

In a move that would provide major relief to subscribers of retirement fund body EPFO, the government has decided no tax would be deducted at source for PF withdrawals of up to Rs 50,000 from June 1.

The threshold limit has been extended from Rs 30,000 to Rs 50,000 of PF withdrawal for TDS.

"The Finance Act , 2016 has amended section 192A of Income Tax Act, 1961 to raise the threshold limit of PF withdrawal from Rs 30,000 to Rs 50,000 for Tax Deducted at Source (TDS)," the notification stated. The provision will come into effect from June 1, 2016.

The government had introduced the proposal to deduct TDS on PF withdrawals in order to discourage pre-mature withdrawal and to promote long term savings.

According to existing provisions, TDS is deducted at the rate of 10 per cent provided PAN is submitted.TDS will be deducted at the rate of 10 per cent provided PAN is submitted.

However, there are certain exceptions to deduction of TDS by EPFO. TDS shall not be deducted in case of transfer of PF from one account to another PF account. Also, no tax is deducted if employee withdraws PF after a period of five years.

Read More - PF & TDS

WSA Report - India Among Top 10 Importers of steel last year.

 

Global industry body, World Steel Association (WSA) has said that India, the world's third largest steel producer, was among the top 10 importers of the alloy last year.

 

As per reports, India imported 13.3 million tonnes (MT) of the metal in 2015 and was just a notch up from China, which imported 13.2 MT of steel during the same period.

According to Indian government data, steel imports rose by 25.6 per cent to 11.71 MT during the 2015-16 financial year against 9.32 MT in the year-ago period. India was a net importer of the metal in the last fiscal.

As per reports, WSA data also showed that India exported 7.6 MT of steel in 2015, which was just a fraction of what its neighbour China exported during the same period at 111.6 MT.

On the positive side, WSA forecasted that India's steel demand is expected to grow by 5.4 per cent to 83.8 MT in 2016 on the back of low oil prices and reform momentum. 

 

Read More - Steel Updates

India's ITC Hits 7-mth high After Stellar Q4 .

** ITC Ltd gains as much as 7.3 pct to 354.5 rupees, its highest since October 2015
 

** Cigarette maker on Friday posted operating earnings above expectations; said cigarette volumes were flat though positive after declining for 11 consecutive quarters
 

** ITC also announces special dividend
 

** Macquarie views the turnaround in cigarette volume growth as "a significant positive"; maintains "outperform" rating and raises PT to 385 rupees from 360 rupees .

Read More - ITC

Market Buzz - Akzo Nobel India hits 9-mth High on upbeat Q4 .

 

** Akzo Nobel India rises as much as 6 pct to 1,440 rupees, its highest since Aug. 14, 2015

 

** The maker of paints, varnishes and enamels on Friday posted an 18 pct jump in March-qtr profit
 

** Recommends a special dividend of 50 rupees ($0.75) per share, in addition to normal dividend of 20 rupees/shr
 

** ICICI Securities says company's Q4 performance exceeded its expectations on all counts; upgrades stock to "buy" from "hold" and raises PT to 1,610 rupees from 1,417 rupees  

 

** Brokerage expects consolidated sales and earnings to grow at CAGRs of 13 pct and 14 pct, respectively, over FY16-FY18 ($1 = 66.8500 Indian rupees) 

 

 **Read More - Trending Stocks

Top Headlines For Todays Stocks Market .

                                                                   Stock Market Headlines

• Macro data, quarterly results key to stock market this week .
• Asian shares trade mixed, Nikkei gains 1%, Kospi, ASX near-flat .
• Sebi expands probe into financial dealings of Mallya firms.
• Weak jobs data may have pushed US Fed hike to September.
• Will make list of wilful defaulters public: RBI Governor.
• ITC up over 2% on progressive resumption of cigarette factories .
• GDP growth slowing; official data counter-intuitive: Ambit .
• Stocks in news: Siemens, ITC, Arvind, SBI, Power Grid, ONGC.
• Have fully complied with AQR norms but NPA pain not over .
• Thyrocare to make stock market debut today.
• MGL IPO in pipeline this month; to raise Rs 1,200 cr .
• E-commerce sector to see $120bn revenue by 2020: Study.
• Home prices hit roof but affordability also at its best: HDFC .
• Maruti plans to widen auto gear shift portfolio .
• Lakshmi Vilas Bank draws up plan to revitalise business .
• Honda to recall 20 million more Takata airbags:
• Samsung to launch two new mid-range phones today in India .
• Financial plan with difference for a special child. 
• Read More - Stock Tips

Sebi To Tweak Settlement Norms To Exclude Only Serious cases

Markets regulator Sebi is considering changes to its settlement norms by bringing in a new provision that would enable settling all 'insignificant' cases without any "market-wide impact" on payment of certain charges.

 

The cases pertaining to serious securities market violations, which may have severe impact on the markets, would be left out of the consent framework, Sebi Chairman U K Sinha said today.

In the consent settlement process, the entity facing a probe by Sebi is subjected to certain fees and restrictions without admission or denial of alleged irregularities, and the regulator thereafter drops its charges and the investigations with a caveat that all disclosures made to it are correct. The case can still be re-opened if some new facts come up later.

In the past, Sebi has refused consent settlement in some big cases including one Reliance IndustriesBSE -0.30 % and its erstwhile subsidiary Reliance Petroleum for alleged insider trading.

After Sebi refused to allow consent settlement, the Mukesh Ambani-led company had challenged the decision at the SAT, but its plea was rejected there also. Sebi is yet to pass its order in this case and believe that the changes in settlement norms may pave the way for RIL to make a fresh attempt at settlement process. 

 

Read More -  SEBI Certified Company

Top Headlines For Todays Stock Market.

                                                             Stock Market News

• Asia mixed: ASX down 0.2%, Nikkei down 0.5%, Kospi up 0.1% 
•  
• Wall Street ends slightly lower on energy, earnings
• 
  
• Not betting on mkts falling, but Japan, US cues important:Ambit
• 
  
• Maruti Q4 profit seen down 3.4%, discounts & yen may hit margin
• 
  
• Axis Bank Q4 net may slip 7%, provision may hit; NII seen up 13%
• 
  
• Why is Dabur best-positioned staples portfolio in India?
• 
  
• Mkt may touch 8500 next month; wait for dips to buy:Gujral
• 
  
• Focus is on improving rural reach; see normal monsoon: M&M Fin
• 
  
• Bull's Eye: Buy M&M, Jet Airways, RCF, RComm; sell DLF
• 
  
• Stocks in news: Hero, Sun Pharma, EIL, Delta Corp, Excel Corp
• 
  
• Rajya Sabha ethics committee may terminate Mallya's membership
• 
  
• UltraTech Q4 beats estimates, profit rises 11% on strong EBITDA
• 
  
• Expect 10-15% growth in metal prices by FY17: StanChart Bank
• 
  
• Credit Suisse sees 20% downside on TVS Motor, stock falls
• 
  
• iBM deal to put 200bps pressure on margins in FY17
• 
  
• OMCs claim Rs 1.1 lakh crore subsidy on domestic LPG 
•  
• 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

Zinc Slides On Soft Euro Area Data

Zinc futures tumbled 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. Further, a slowdown in the services sector in the Euro area in March signaled a cooling recovery in the 19-member economy, which may curb demand for the industrial metal. The gauge measuring services activity in the region fell to 53.1 in March from 53.3 in February, with a reading above 50 signaling expansion. At the MCX, Zinc futures for April 2016 contract closed at Rs 120.40 per kg, down by 1.67 per cent after opening at Rs 122.1, against the previous closing price of Rs 122.45. It touched the intra-day low of Rs 119.85.

Read More – Zinc updates

Top Headlines Of Stock Market On 2nd Of April

                                  Stock Market News

FY17 earnings growth at 15-17%; bet on banking sector: IL&FS
Cautious due to changing stance of global central banks: Ambit
Fitch downgrades Tata Steel group, puts it on rating watch
Sharepro fraud: Sebi tells cos to do audit before naming new RTA
Vijay Mallya not to appear before ED, seeks extension till May
Reading the Riot Act: How Indian pharma companies got hammered
HCL Tech to acquire complete ownership of Geometric
Govt meets FY16 fiscal deficit target of 3.9%, may improve a bit
EPFO puts on hold new PF withdrawal norms till Apr 30
Nonfarm payrolls add 215K jobs in March, vs expected 205K
RBI policy: 95% of CNBC-TV18 polled respondents expect rate cut
Infographic: How markets fared across the globe in FY16
HCL Tech likely to buy 37% in Geometric: Sources
Exclusive : At risk of loans turning NPAs, JP Infra offers land to banks
ITR asset disclosure norm to affect 1.5 lakh ultra rich: Adhia
Tesla launches revolutionary Model 3, eager fans line up
Happy new financial year! Time to take stock of money matters
Relaxed Safe Harbour Rule to boost India-focused offshore fund
Expand your business knowledge, expand your business size
As your investment knowledge rises, so will your returns

Silver Retreats On Profit Booking

Silver futures fell during evening trade in the domestic market on Friday as the sharp gains in the previous session when prices soared by over 4 per cent as investors scurried for shelter in the safety of the precious metal amidst a growing global gloom paved the way for profit booking, by investors and speculators, in the bullion, at existing levels.

Worries over a faltering global economic recovery amidst a China slowdown, uncertainty over US interest rate outlook and tumbling oil prices sparked a flight to safe haven assets, boosting Silver prices in recent sessions.
 

At the MCX, Silver futures for March 2016 contract is trading at Rs 38,033 per kg, down by 0.67 per cent after opening at Rs 38,085, against the previous closing price of 38,288. It touched the intra-day low of Rs 37,834.