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

SpiceJet Hits Ground Despite Strong Q4 Results ; stock slips nearly 10%

SpiceJet BSE -6.73 % slipped nearly 10 per cent in morning trade on Friday after the airliner reported a net profit of Rs 73 crore for the quarter ended March 31, which came in slightly below analyst estimates largely on account of one-time expense. 

Analysts on an average were anticipating a net profit of Rs 148 crore for the January-March quarter and an Ebitda growth of Rs 170 crore, according to Prabhudas Lilladher estimates.

At 10:00 am; SpiceJet was trading 6.4 per cent lower at Rs 74.45. It hit a low of Rs 72 and a high of Rs 78.40 so far in trade today.

The budget airline reported a one-time expense of Rs 173 crore on stabilisation and reliability of its fleet which led to reduction in net profit.

After this one-time expense, the airline will only have three outstanding claims of about $60 million (about Rs 203 crore), of which two involving $30 million are currently under negotiations,

SpiceJet reported operating revenue of Rs 1,475 crore for the quarter, a growth of 86 per cent over the year-ago period. On Ebitda basis, SpiceJet reported a profit of Rs 146 crore compared with a profit of Rs 80 crore reported for the year-ago period. 

Read More - Spice jet 

News Buzz - Mitsubishi Motors President to Step Down .

Mitsubishi Motors Corp President Tetsuro Aikawa will step down to take responsibility for the fuel economy data scandal, the Nikkei reported. 

 

 

Aikawa, who temporarily will be succeeded by Chairman Osamu Masuko, is set to leave around the time the third-party investigative committee compiles the final report in July or the stockholders meeting in June, the paper reported.

Masuko would continue in the dual role until the completion of Nissan Motor Co`s acquisition of a stake in Mitsubishi, the Nikkei added.

Mitsubishi Motors and Nissan could not be immediately reached for a comment.

Nissan would appoint one of its directors to head Mitsubishi Motors` product development division after Mitsubishi Motors` regular shareholder meeting on June 24, the paper reported.

Japan`s sixth-largest automaker, Mitsubishi, admitted in April it had overstated the fuel efficiency of 625,000 cars, wiping off around 40 percent of its market value, or $3.2 billion in three days.

Mitsubishi Motors plans to decrease its own directors from 13 to 11, while Nissan is set to nominate four directors, including the chairman, the paper added. 

 

Read More - Mitsubishi Motors

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

Mentha oil futures drags down on Profit taking

Mentha oil prices fell by 0.14 per cent on Thursday at the Multi Commodity Exchange (MCX) as a result of the increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.

 

At MCX, Mentha oil futures for January 2016 contract, were trading at Rs. 864.20 per kg, down by 0.14 per cent after opening at Rs. 861.70 against the previous closing price of Rs. 865.40. It touched the intra-day low of Rs. 859.80 till the trading. (At 2.30 PM today). 

 

Sentiment weakened further as the investors indulged in profit-booking in the midst of a fall in demand in the spot market.
 

About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.

Agri Evening Updates - Mentha oil gains on limited supply

Mentha oil prices rose by 0.01 per cent on Tuesday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for January 2016 contract, at MCX, were trading at Rs. 873.90 per kg, up by 0.01 per cent after opening at Rs. 869.10 against the previous closing price of Rs. 873.80. It touched the intra-day high of Rs. 875.20 till the trading. 

Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.
 

About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.

Commodity Updates - Jeera Ends Lower on Weak Demand

Jeera Tips - Jeera prices closed lower by 0.73 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for January 2016 contract closed at Rs. 13,600 per quintal, down by 0.73 per cent, after opening at Rs. 13,700 against the previous closing price of Rs. 13,700. It touched the intra-day low of Rs. 13,365. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

Gold futures Extended Gains in the Domestic Market

Gold futures extended gains in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking gains from the overseas market as bets that the US Federal Reserve may delay policy tightening in the world’s biggest economy amidst global headwinds bolstered the lure for the yellow metal as a store of value.

Chicago Federal Reserve Bank President Charles Evans on Monday urged the world’s top central bank to undertake a very gradual lift-off in US interest rates while preferring the initial hike in borrowing costs to begin in 2016.

FOMC Minutes released last Thursday also signaled that the Fed will be cautious in its approach to hiking interest rates for the first time in almost a decade, given slowing global growth and jitters from China that have hit global financial markets in recent months.

Gold, a non-interest bearing asset benefits from lower interest rates, which make the asset more attractive.

Gold has also been supported by safe haven buying amid Russian military action in Syria.

Gold may extend gains as dismal China trade data raises bets of further stimulus to prop up growth in the world’s second biggest economy.

At the MCX, Gold futures for December 2015 contract closed at Rs 26,788 per 10 gram, up by 0.62 per cent after opening at Rs 26,675, against the previous closing price of Rs 26,622. It touched the intra-day high of Rs 26,938. eade

 

Read More - Bullions tips

Bullish supplies data lifts Natural Gas

 

Natural Gas futures rallied by more than 2.5 per cent in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity as a below than expected stockpile injection in the US last week signaled improving demand for the power plant fuel in the world’s biggest fuel consumer.

 

US gas supplies climbed by 53 billion cubic feet to 3.030 trillion cubic feet in the week ended August 14, 2015, the EIA said. Analysts were expecting an injection of 58 billion cubic feet in US gas supplies while last week’s storage came in below the five-year average gain of 54 billion cubic feet, the 65 billion cubic feet injection reported last week and the 86 billion cubic feet build reported in the same week a year ago.

At the MCX, Natural Gas futures for August 2015 contract closed at Rs 182.30 per 1 kg, up by 2.7 per cent after opening at Rs 177.30, against the previous closing price of Rs 177.5. It touched the intra-day high of Rs 183.20 till the closing.

Read More - Natural Gas

Chana prices closed lower by 0.04 % on Monday

Chana prices closed lower by 0.04 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major manufactureing states. In the NCDEX, chana futures for August 2015 contract closed at Rs. 4,581 per quintal, down by 0.04 per cent, after opening at Rs. 4,592 against the previous closing price of Rs. 4,583. It touched the intra-day low of Rs. 4,568.India is the largest producer of chickpea followed by Turkey 'Pakistan and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production. To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Outlook

Chana price may trade sideways to higher on good demand from traders and stockists. There are reports of higher imports and higher prices in overseas market amid lower production projections in Canada and Australia are positive for the prices. Meanwhile, revival of monsoon in most parts of the western and central India and relaxation of hoarding limits for WDRA registered warehouses is mixed for the chana prices.

Read More - MCX Chana Tips

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

To control the domestic prices, centre asked state governments to take stringent action against hoarders and boost supply in "vulnerable areas" prone to shortages. Meanwhile, all the warehouses registered with Warehouse Development and Regulatory Authority (WDRA) exempted from the stock limits. There is sufficient stock available in the country due to record imports as there was nil import duty on chana since December.

Read more at: http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-chana-to-trade-sideways-to-positive-angel_2107741.html?utm_source=ref_article

copper prices rallied during late morning trade

Against the backdrop of concerns over supply reductions, copper prices rallied during late morning trade in the domestic market on Wednesday but a fourth straight drop in shares in China loomed large on the industrial metal’s demand prospects from the world’s biggest metals consumer, trimming gains in Copper.The world’s biggest publicly traded copper mining firm, Freeport-McMoRan Inc indicated that it will review plans to trim production in response to a price slump while TD Securities Inc. warned that power shortages in Zambia may prompt output cuts in the second half of the year.Meanwhile, China’s benchmark index, the Shanghai Composite which suffered the biggest single day drop in eight years on Monday and fell a further 1.7 per cent on Tuesday, was down over 1 per cent on Wednesday, a sign that government share purchases to stem the rot in equities have failed to boost sentiment.At the MCX, Copper futures for August 2015 contract is trading at Rs 342.20 per 1 kg, up by 0.23 per cent after opening at Rs 342.30, against the previous closing price of Rs 341.40. It touched the intra-day high of Rs 343.90. (At 11:09 AM).

Read More On  Copper Tips - Mcx Copper Tips

Jeera prices closed lower by 3.71 %

Jeera prices closed lower by 3.71 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for August 2015 contract closed at Rs. 15,060 per quintal, down by 3.71 per cent, after opening at Rs. 15,590 against the previous closing price of Rs. 15,640. It touched the intra-day low of Rs. 15,015.Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

Natural Gas tumbles after US supply data

Natural Gas plunged in the domestic market on Thursday as investors and speculators exited positions in the energy commodity after data showed that supplies remain at more than adequate levels amidst limited cooling demand for the power plant fuel due to mostly moderate temperatures.US gas supplies climbed by 61 billion cubic feet to 2.828 trillion cubic feet in the week ended July 17, 2015. Gains in supplies last week compare to 70 billion cubic feet expected by analysts and followed a build of 99 billion cubic feet in the prior week. The five-year average gain was 53 billion cubic feet while supplies rose by 92 billion cubic feet in the same week a year ago. Further, US gas stockpiles were 622 billion cubic feet higher than year ago levels and 81 billion cubic feet above the five-year average of 2.747 trillion cubic feet for the same time of the year.

At the MCX, Natural Gas futures for July 2015 contract closed at Rs 180.90 per 1 kg, down by 1.63 per cent after opening at Rs 183.90, against the previous closing price of Rs 183.90. It touched the intra-day low of Rs 180.30 till the closing.

 

Read More On This Buzz - free share tips

Mcx Commodity Tips : Extending a freefall, crude oil shed nearly 1 %

Mcx Commodity Tips : Extending a freefall, crude oil shed nearly 1 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity as a surprise rise in US oil storage last week threatened to exacerbate a global supply glut. Crude oil stockpiles in the US climbed by 384,000 barrels to 465.8 million barrels in the week ended July 3, 2015, the EIA said, in contrast to analysts’ estimates for a drop of 700,000 barrels. Total US oil supplies are at the highest level in at least 80 years. Supplies at Cushing, the biggest US oil storage hub, climbed by 223,000 barrels last week, the report added. Meanwhile, the deepening stock market rout in China, the world’s second biggest energy consumer and fears over Greece exiting the euro forced a flight away from risky assets. China’s stocks sank nearly 6 per cent on Wednesday as traders unwind margin bets at a high record rate, eroding as much as USD 3.5 trillion of value from the country’s equities. Further, Greece has been handed out a Thursday deadline by European leaders to submit fresh economic reform measures including spending cuts to press for a new bailout and remain in the euro. Adding to Oil’s woes, the Federal Reserve in the minutes of its latest policy meet in June warned of the potential risks to the US economy from the turmoil in Greece and China. Oil may extend losses today as burgeoning US crude oil supplies raise bets that the oil market remains oversupplied. At the MCX, Crude oil futures, for the July 2015 contract, closed at Rs 3,276 per barrel, down by 0.91 per cent, after opening at Rs 3,296, against the last close price of Rs 3,306. It touched an intraday low of Rs 3,245.

For more info click here : Mcx Commodity Tips

Mcx Commodity tips and Updates for 8 July 2015

Mcx Commodity tips : Extending a decline from Monday, the yellow metal fell prey to a steep sell-off with prices tanking more than 1 per cent in the domestic market on Tuesday as a stronger dollar curbed the demand for the bullion as an alternative asset. The dollar spiked against a basket of key currencies as investors sought shelter in the safety of the greenback as fears over Greece exiting the euro heightened as European leaders held an emergency summit to decide Greece’s fate in the euro. After European leaders set a Sunday deadline for Greece to submit a new set of reforms or face the ugly consequences of being pushed out of the common currency. German chancellor Angela Markel conceded that she wasn’t very optimistic over a solution to Greece’s five-year debt troubles while an event of a Greek exit from the euro threatens to undermine the credibility of the euro that was meant to be irreversible, casting doubts over the strength of the region’s economic, monetary and political integration, prompting an exit from risky assets and bolstering safe haven demand for the US currency. Gold may trade on a subdued note today as trader’s eye the FOMC minutes which may offer cues over the timing of a maiden rate lift-off since 2006. At the MCX, Gold futures for August 2015 contract closed at Rs 26,032 per 10 gram, down by 1.12 per cent after opening at Rs 26,276, against the last closing price of Rs 26,328. It touched the intra-day low of Rs 25,883 till the closing.

For More Info Click here : Mcx Commodity tips

Mcx Gold Tips and Updates for 7 July 2015

Mcx gold tips : The yellow metal succumbed to slim losses in the domestic market on Monday as the strength of the dollar held back demand for Gold as an alternative asset. The dollar rallied as investors sought shelter in safe haven assets after a decisive “no” vote at a Greek bailout referendum raised the risk of the country’s exit from the euro, prompting investors to cut risky bets. Sunday’s referendum results showed that 61 % of Greeks voiced against further spending cuts and tax hikes imposed by the country’s creditors, pushing Greece into an economic unknown with its euro membership now in limbo. Euro area finance ministers and leaders will hold an emergency meeting on Tuesday with German Chancellor Angela Merkel warning that time is running out for Greece to reach a plan to remain a part of the euro while the European Central Bank (ECB) tightened liquidity norms for the cash-strapped Greek banking and financial system. However, gold received some support from speculation of further aggressive policy easing measures in China to stem a stock market rout, which may help bolster gold demand in one of the world’s leading bullion consumers. The precious metal may ink a rebound today as traders eye the outcome of a Euro area emergency meet to discuss Greece, bolstering safe haven inflows into the bullion.

At the MCX, Gold futures for August 2015 contract closed at Rs 26,328 per 10 gram, down by 0.09 per cent after opening at Rs 26,369, against the last closing price of Rs 26,352. It touched the intra-day low of Rs 26,187 till the closing.

For more info click here: Mcx gold tips

Mcx Commodity tips : Maize prices closed higher by 0.92 %

Mcx Commodity tips : Maize prices closed higher by 0.92 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for July 2015 contract closed at Rs. 1,209 per quintal, up by 0.92 per cent, after opening at Rs. 1,204 against the previous closing price of Rs. 1,198. It touched the intra-day high of Rs. 1,211.

Jeera prices closed lower by 1.88 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for July 2015 contract closed at Rs. 15,885 per quintal, down by 1.88 per cent, after opening at Rs. 16,150 against the previous closing price of Rs. 16,190. It touched the intra-day low of Rs. 15,725.

For More Information click here : Mcx Commodity tips

Zinc Futures Pummeted 1.5 % in the Domestic

Zinc futures plummeted 1.5 per cent in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for Zinc in the domestic spot market. Further, new home prices in China, the world’s biggest metals consumer, fell in May while FDI growth weakened, dampening the demand outlook for the base metal. New home prices in China fell in 41 out of 70 cities tracked by the government survey in May 2015 from the previous month, while China’s outbound FDI grew 7.8 %, year on year in May 2015, missing analysts’ expectations for an annual 8 per cent rise and compared to a 10.5 per cent increase in April 2015 from the same month a year ago.

At the MCX, Zinc futures for June 2015 contract closed at Rs 131.15 per 1 kg, down by 1.50 per cent after opening at Rs 133.35, against the last closing price of Rs 133.45. It touched the intra-day low of Rs 131.10 till the closing.

Morning Trading Calls for 19 June 2015

NIFTY BONANZA

NIFTY BONANZA: BTST BANK NIFTY HIT 1S TGT 17780 CMP BOOK PART PROFIT 

NIFTY BONANZA

NIFTY BONANZA: BTST BANK NIFTY HIT FINAL TGT 17880 HIGH OF 17979.90 BOOK FULL PROFIT

ULTRA EQUITY

ULTRA CASH: BUY JUSTDIAL IN THE RANGE 1174-1175 TGTS 1185/1200 SL 1162 

NIFTY FUTURES

NIFTY: BUY BANK NIFTY ABOVE 17775 TGTS 17815/17875/17975 SL 17715 

ULTRA EQUITY

ULTRA CASH: SELL JSWSTEEL BELOW 885 TGTS 877/867 SL 895

EQUITY TIPS

CASH: BUY RALLIS ABOVE 229 TGTS 231/234/239 SL 226

Mcx Commodity Tips For 18 June 2015

Stock Market News : Gold futures ended lower in the domestic market on Wednesday as the US Federal Reserve moved closer to undertaking the maiden interest rate lift-off since 2006 even as it signaled a more gradual pace of subsequent monetary tightening. The Fed, which kept its key interest rate unchanged near zero signaled strong progress in the labour market since its last meet in April with new forecasts pointing to a two-quarter-point rate rise in 2015, dimming the lure for the bullion as a store of value. The world’s top central bank said that it will be extremely patient in raising interest rates over the next two and a half years, as it signaled slower than anticipated rate hikes in 2016. Meanwhile, a weaker dollar boosted the demand for Gold as an alternative asset. Weaker greenback makes Gold cheaper for those holding other currencies, thus bolstering demand, trimming losses in the Bullion. Meanwhile, traders continued to eye events in Greece with Europe insisting on the country to undertake spending cuts worth 2 billion euro in order to secure further aid before the loan-repayment deadline expires in late June. Gold may fall steeper today as the Fed signaled a rate hike this year.

At the MCX, Gold futures for June 2015 contract ended at Rs 26,880/10 gram, down by 0.28 after opening at Rs 26,919, against the last closing price of Rs 26,956. It touched the intra-day low of Rs 26,803 till the closing.

Morning Trading Calls

ULTRA EQUITY

ULTRA CASH: BUY DHFL ABOVE 428 TGTS 432/442 SL 423

EQUITY HNI

EQUITY HNI: BUY PEL ABOVE 939 TGTS 950/965 SL 924

EQUITY TIPS

CASH: BUY PIDILITIEND ABOVE 538 TGTS 542/550/565 SL 533

NIFTY BONANZA

NIFTY BONANZA: BTST BANK NIFTY HIT 1ST TGT 17600 HIGH OF 17686 NEAR TO OUR FINAL TGT 17700 CMP 17650 BOOK PART PROFIT

ULTRA EQUITY

ULTRA CASH: BUY HDFC ABOVE 1211 TGTS 1221/1236 SL 1199

EQUITY HNI

EQUITY HNI: BUY JSWSTEEL ABOVE 865 TGTS 875/900 SL 850

EQUITY TIPS

CASH: BUY DHFL ABOVE 427 TGTS 431/436/444 SL 422

Stock Market News And Updates for 17 June 2015

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