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Showing posts with label Financial Advisory Company in Indore. Show all posts
Showing posts with label Financial Advisory Company in Indore. Show all posts

Monday, 15 October 2018


BULLION:-
There Gold prices inched higher early on Tuesday, hovering near a 2-1/2 month high hit in the previous session, as risk averse investors sought a safe haven amid rising political tensions and economic uncertainty. Spot gold was up 0.1 per cent at $1,227.76 an ounce at 0114 GMT. On Monday, it touched a peak of $1,233.26, the highest since July 26. Asian stocks bounced modestly on Tuesday, gaining a toe-hold after a week of heavy losses, although increasing tensions between Saudi Arabia and the West fanned geopolitical concerns and capped gains. The US government closed the 2018 fiscal year $779 billion in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department. 

METALS:-
London copper closed near its day lows at $6,253/mt on Monday as longs booked profits after the contract climbed to an intraday high of $6,342/mt. With bearish sentiment from weakness in the equity markets, longs booked profits after the SHFE 1811 contract crept to a high of 50,960 yuan/mt and hovered around the daily moving average. This dragged the contract down to close at a low of 50,480 yuan/mt overnight. The pessimistic sentiment, triggered by the equity rout, lingered and this slowed the growth in copper prices. However, China's robust exports in September and low stocks across LME, COMEX and SHFE warehouses could provide some support. On technicals, LME copper touched the 10-day moving average and its Bollinger bands appeared to converge; SHFE copper stood firmly above the five-day moving average. We expect LME copper to trade at $6,190-6,280/mt today with the SHFE 1811 contract at 50,500-51,000 yuan/mt. Spot prices are seen at discounts of 20 yuan/mt to premiums of 30 yuan/mt.

ENERGY:-

Oil prices rose on Tuesday on signs Iranian oil exports this month have fallen from September ahead of U.S. sanctions against Tehran that are set to start in November. Iran has exported 1.33 million barrels per day (bpd) to countries including India, China and Turkey in the first two weeks of October, according to Definitive Eikon data. That was down from 1.6 million bpd in September, the data showed. October exports are a sharp drop from the 2.5 million bpd exported in April before U.S. President Donald Trump withdrew from a multi-lateral nuclear deal with Iran in May and ordered the re-imposition of economic sanctions on the country, the third-largest producer among the members of the Organization of the Petroleum Exporting Countries (OPEC).


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Tuesday, 9 October 2018


BULLION:-
Gold The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 per cent. Stocks on major world markets edged lower on Tuesday, with a decline in the materials sector offsetting rising energy shares. US long-dated Treasury yields fell on Tuesday in choppy trading, as investors took a respite from selling bonds that took rates to multi-year highs following recent economic data and on interest rate prospects over the next year and a half. Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the IMF said on Wednesday

METALS:-
The SHFE 1811 contract also performed strongly overnight. It jumped past 107,000 yuan/mt to the highest since September and ended at 106,950 yuan/mt. The metal was voted as the most promising base metal for 2019 at this year's LME week in London, which might account for the recent increases in prices of futures. We expect LME nickel to hover at $12,800/mt today with the SHFE 1811 contract trading at 105,500-107,500 yuan/mt. Spot prices are seen at 105,000-112,000 yuan/mt. London copper rebounded above the daily moving average to a high of $6,303.5/mt and settled at $6,295/mt on Tuesday after the dollar dipped when US bond yields fell. On the technical front, LME copper managed to stand firmly above the five- and 10-day moving averages and approached the upper Bollinger band. Its MACD red line extended, reflecting the strength of longs. The SHFE 1811 contract soared to a high of 51,140 yuan/mt after it hovered at the daily moving average overnight.

ENERGY:-
Oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned towards Florida, causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output. Trade tensions and rising import tariffs were taking a toll on commerce, while emerging markets struggle with tighter financial conditions and capital outflows, the IMF said are peaking at the most opportunistic time given waning global growth narrative," said Stephen Innes, head of trading APAC at OANDA in Singapore. In the United States, nearly 40 percent of daily crude oil production was lost from offshore U.S. Gulf of Mexico wells on Tuesday because of platform evacuations and shut-ins ahead of Hurricane Michael



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Thursday, 4 October 2018


BULLION:-

Gold prices held steady early Friday as investors remained cautious after U.S. Treasury yields hit multi-year peaks and ahead of monthly employment data, which if stronger could boost the Federal Reserve’s case for a tighter monetary policy. Spot gold was flat at $1,199.20 an ounce at the time of writing. Spot gold was on track to gain 0.6 percent for the week, which would mark its biggest weekly gain since the week of Aug. 24. U.S. gold futures rose 0.1 percent to $1,202.90 an ounce. The U.S. Treasuries market’s two-day selloff pushed its volatility to its highest level since June as investors shed their bond holdings on surprisingly strong economic data and signals the Fed would raise interest rates further. Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding nonyielding bullion. The dollar index against a basket of six major currencies was little changed at 95.765, after climbing to a six-week peak of 96.121 in the previous session.  

METALS:-

London aluminum held its ground on Friday as worries over an alumina shortage stoked cost inflation concerns, sending prices towards the biggest weekly gain in nearly six months. London Metal Exchange (LME) aluminium was little changed at $2,167 a tonne, down just 0.1 percent after hitting its loftiest since June at $2,267 the session before. Prices were on track for a 5.8 percent weekly rise, the biggest since April. The Brazilian state of Para on Thursday said it was surprised when Norsk Hydro decided a day earlier to halt operations at Alunorte, the world’s largest alumina refinery, and asked for a report explaining the decision. Other metals came under pressure from a stronger dollar. LME copper eased by 1.63 percent to $6,228 in the previous session, after the U.S. currency was boosted by solid demand for Treasuries following a strong payrolls report. The Shanghai Futures Exchange remains closed for the Golden Week holiday and will reopen on Monday.  

ENERGY:-


Oil prices rose on Friday, as traders focused on U.S. sanctions against Iran’s crude exports that are set to start next month to tighten global markets. The gains helped claw back some of the losses from the previous session due to rising U.S. inventories and after Saudi Arabia and Russia said they would raise output to at least partly make up for expected disruptions from Iran. International benchmark Brent crude oil futures were at $84.98 per barrel at the time of writing, up 40 cents, or 0.5 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 50 cents, or 0.7 percent, at $74.83 a barrel. Overall oil market sentiment is bullish. Financial traders have accumulated bullish long positions betting on a further rise in prices amounting to almost 1.2 billion barrels of oil. Meanwhile, the number of short positions in the six most important petroleum futures and options contracts has fallen to the lowest level since before 2013, creating a near-record imbalance between bullish and bearish positions in financial crude markets. 


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Wednesday, 3 October 2018


BULLION:-

Gold eased on Wednesday after the Italian government indicated it was open to trimming its budget deficit and debt, soothing investors' nerves and prompting a wider move back into stocks and other higher-risk assets. Bullion was also pressured by a stronger dollar as economic data supported the view that the U.S. economy is strong. "With U.S. equities hitting record highs here, the stickiness in equity prices will continue and the dollar strength will continue to materialize with what the U.S. Federal Reserve is doing," said David Song, a currency analyst at DailyFX. A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies, while rising interest rates increase the opportunity cost of holding non-yielding bullion.

METALS:-

Declining shorts pulled up the SHFE 1811 contract above the 20- and 10- day moving averages, to a high of 104,580 yuan/mt. The contract settled at 104,550 yuan/mt with capitals of some 213 million yuan flowing out of all SHFE nickel contracts. Open interests of the 1811 contract lost 20,000 lots to 184,000 lots. Data to watch tonight include the US August personal consumption expenditures (PCE) inflation, personal income and spending and September consumer confidence. The SHFE 1811 contract once fell below the 50,000 yuan/mt level with pressure at the five-day moving average. As shorts exited near closing, the contract inched up to an intraday high of 50,240 yuan/mt and settled at 50,170 yuan/mt. The October contract traded some 230 yuan/mt higher than the November one today. The SHFE will be closed tonight and reopen on Monday October 8 after the week-long National Day holiday. 

ENERGY:-

Oil prices on Thursday fell from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. "Data for last week showed a much more significant than expected ... build in U.S. commercial crude (inventories), which generally suggests that oil prices should tumble," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore. U.S. weekly Midwest refinery utilization rates dropped to 78.9 percent, their lowest since October 2015, according to the data. U.S. crude oil production C-OUT-T-EIA remained at a record-high of 11.1 million barrels per day (bpd). Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices, Reuters reported on Wednesday, before consulting with other producers, including the rest of the Organization of the Petroleum Exporting Countries (OPEC). and Saudi Arabia's actions come as markets have heated up ahead of U.S. sanctions against Iran's oil sector, which are set to kick in from Nov. 4, and which many analysts expect to knock around 1.5 million bpd of supply out of markets.




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Saturday, 29 September 2018

BULLION:-

Gold hit a fresh six-week low on Friday as the dollar firmed after upbeat U.S. economic data supported the Federal Reserve's resolve for steady interest rate hikes, putting the metal on track for its longest monthly losing streak since January 1997. The dollar gained against its peers on Friday as data showed U.S. economic growth accelerated in the second quarter at its fastest pace in nearly four years. Another report showed durable goods rose 4.5 percent in August, rebounding from a revised 1.2 percent drop the month before. USD/ short-term outlook is bearish for gold as the dollar may see some upside due to an ongoing trade war between China and the U.S. and the Federal Reserve interest rate hike outlook, according to Argonaut Securities analyst Helen Lau. The Fed raised interest rates on Wednesday and said it planned four more increases by the end of 2019 and another in 2020.  


ENERGY:-

Oil prices steadied on Friday as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production. "The fall in Iranian production is set to intensify once the second round of U.S. sanctions come into effect in November," said Abhishek Kumar, senior analyst at Interfax Europe Ltd. A new round of U.S. sanctions on Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, kick in on Nov. 4. Washington is demanding that buyers of Iranian oil cut imports to zero to force Tehran to negotiate a new nuclear agreement and to curb its influence in the Middle East. Saudi Arabia is expected to add extra oil to the market over the next couple of months to offset the drop in Iranian production. sources familiar with OPEC policy told Reuters Saudi Arabia and other producers had discussed a possible production increase of about 500,000 barrels per day (bpd) among OPEC and non-OPEC producers. 


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Thursday, 27 September 2018


BULLION:-

Gold prices edged up early on Thursday, supported as investors looked for bargains after the metal fell to a two-week low in the previous session following a U.S. interest rate hike. Spot gold had risen 0.2 percent to $1,196.21 an ounce at the time of writing. On Wednesday, the metal touched its lowest since Sept. 11 at $1,190.40 an ounce. U.S. gold futures were up 0.1 percent at $1,200.40 an ounce. Gold is sensitive to higher interest rates because they tend to boost the dollar, making bullion more expensive for buyers with other currencies. The dollar steadied against its peers early on Thursday as the small boost it received from the U.S. Federal Reserve interest rate hike faded, with a decline in U.S. Treasury yields reducing support for the greenback. In a statement that marked the end of the era of “accommodative” monetary policy, the Fed raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. economy would enjoy at least three more years of growth. 

METALS:-

The prices of base metals traded on the London Metal Exchange were mostly lower at the close of trading on Wednesday, with zinc being the only metal to trade positively amid continued bearish sentiment across the base metals complex. Copper fell for a third straight session on Wednesday as the dollar firmed ahead on the direction of U.S. interest rates hike. Benchmark copper on the London Metal Exchange edged down 0.4 percent to $6,264 per tonne at the time of writing. Persistent concerns over tit-for-tat trade tariffs between China and the United States are denting demand for risky assets, such as metals. The union at Alcoa’s aluminium operations in the state of Western Australia said it was meeting the company again on Wednesday to try to resolve a strike that has lasted more than six weeks, after the firm last week revised an earlier offer. Stocks in LME-monitored warehouses fell below a million tonnes for the first time since March 2008 on Wednesday, at 999,925 tonnes.

ENERGY:-


Oil prices rose by 1 percent on Thursday as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November. U.S. West Texas Intermediate (WTI) crude futures were at $72.41 a barrel, up 84 cents, or 1.2 percent from their last settlement. At its 2018 peak, Iran exported around 3 million barrels per day (bpd) of crude oil, equivalent to 3 percent of global consumption. Shipping data shows Iran September exports fell to around 2 million bpd as buyers around the world bow to U.S. pressure and cut imports. The Organization of the Petroleum Exporting Countries (OPEC) has little spare capacity to make up for an expected shortfall in Iranian exports. Reflecting expectations of lower supply from the Middle East, Oman crude futures on the Dubai Mercantile Exchange touched their highest in four years on Wednesday, briefly jumping above $90 a barrel. While global oil markets tighten, supply in the United States is ample, thanks to rising output.  



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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Tuesday, 25 September 2018


BULLION:-

Gold prices nudged down early Wednesday on a firmer dollar, as investors waited for details of the U.S. Federal Reserve’s two-day meeting that should give clues whether policymakers will raise interest rates for the third time this year. Spot gold XAU= was down 0.1 percent at $1,200.18 at the time of writing. Investors await details from the two-day Federal Reserve meeting that began on Tuesday, with the U.S. central bank expected to raise benchmark interest rates and shed light on the path for future rate hikes. Higher U.S. interest rate typically pressure gold, since it costs to store and insure, but does not pay interest. U.S. consumer confidence surged to an 18-year high in September as households grew more upbeat about the labour market, pointing to sustained strength in the economy despite an increasingly bitter trade dispute between the United States and China. U.S. President Donald Trump’s top trade official said on Tuesday that changing China’s economic policies to become more market-oriented “is not going to be easy” even with tariffs now in place on $250 billion worth of Chinese goods.  

METALS:-

London copper fell for a third session in a row on Wednesday ahead of a widely expected U.S. interest rate hike and persistent worries over an escalating U.S.-China trade war. Fed funds rates futures implied traders are fully pricing in a rate hike on Wednesday, with an 85 percent chance the Fed will raise rates again in December. The Federal Reserve has already raised rates twice this year. Three-month copper on the London Metal Exchange was down 0.6 percent at $6,277.50 a tonne at the time of writing. On the Shanghai Futures Exchange, the most-traded November copper gained 0.6 percent to 50,500 yuan ($7,350) a tonne. With Wednesday’s rate hike expected, investor focus will be on the Fed’s policy statement and Chairman Jerome Powell’s press conference following the meeting. 

ENERGY:-

Brent oil edged further away from a four-year high on Wednesday and U.S. crude fell, after the U.S. said it would ensure crude markets are well supplied before sanctions are re-imposed on Iran and as President Donald Trump criticized high prices. Brent crude futures were down 43 cents, or 0.5 percent, at $81.44 a barrel at the time of writing, after gaining nearly 1 percent the previous session. Earlier on Tuesday, Brent hit its highest since November 2014 at $82.55 per barrel. U.S. crude futures were down 40 cents, or 0.6 percent at $71.88 a barrel. They rose 0.3 percent on Tuesday to close at their highest level since mid-July. However, Brent is on course for its fifth consecutive quarterly increase, the longest such stretch for the global benchmark since early 2007, when a six-quarter run led to a record-high of $147.50 a barrel.  



CapitalStars Provides  Free Trial To Our Client…
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647


Sunday, 23 September 2018


BULLION:-

Gold prices headed lower on Friday as a stronger dollar dented demand for the precious metal, but it was still on track for its first weekly climb in four as investors reentered their attention on the Federal Reserve. The fall in dollar this week came as safe-haven demand for the U.S. currency ebbed amid continued relief that fresh U.S. and Chinese tariffs on reciprocal imports were less harsh than originally feared. On Monday, the U.S. slapped tariffs of 10% on $200 billion in Chinese goods, before they rise to 25% by the end of 2018, rather than an outright 25%.The precious metal has dropped more than 10% from a peak in April as escalating U.S.-China trade dispute and rising U.S. interest rates were cited as catalysts for the selling in gold.

METALS:-

As longs aggressively added their positions, the SHFE 1811 contract jumped past 50,000 yuan/mt, a psychologically-significant level, to an intraday high of 50,020 yuan/mt before it edged down to close at 49,740 yuan/mt. Open interest for the October contract shrank 8,024 lots while that for January-March contracts grew 14,198 lots. The spread between October and November contract exceeded 300 yuan/mt. On the technical front, MACD red line extended further, suggesting an open upward track for the contract. The SHFE 1811 contract climbed past the 20-day moving average to 105,220 yuan/mt on a substantial buildup of long positions. The contract then reversed little gains and closed at 104,870 yuan/mt. On the technical front, KDJ lines expanded upwards and MACD red line lengthened.


ENERGY:-

Crude oil markets were all over the place on Friday, based upon a lot of different moving pieces. Not the least of which would have been a searching US dollar. The market does want to go higher but the US dollar strengthening based upon the noise and the United Kingdom has put more bearish pressure on this. Overall, I think that the market will be paying attention to quadruple witching during the session as well, so quite frankly I would pay more attention to the longer-term trend of going higher. The US dollar is the counterbalance, so pay attention to that. The $77.50 level underneath will be supported as well, but at this point I think that oil traders have decided that they want to go higher. If we break above the $80 level, it’s likely that we will then go to the $82.50 level next. Expect volatility regardless of what happens, so be very cautious about your position size going into this next couple of days.




Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.


Thursday, 20 September 2018

Investors are disillusioned with Gold ETFs. In the first 5 months of the financial year 2018-19, investor has invested Rs 241 crore from Gold Exchange-traded funds (Gold ETFs), while in August, the fund has withdrawn Rs 45 crore. The investment has increased.

5 months Gold Funds AUM Rs 4445 Crore Minus

According to the figures released by the Association of Mutual Fund of India (AMFI), the assets of gold funds under the Financial Institutions (AUM) 7.5 percent in the first 5 months of FY 2018-19. By the end of August, the AUM has decreased by Rs 4,445 crore.
Gold ETFs are getting out of money in the past five years. However, in 2012-13, the fund had an investment of Rs 1,414 crore.

Investing in equities in place of gold in the stock market rally

According to industry experts, Indian investors have been disillusioned with Gold ETFs with better returns in the stock market. That's why money is being released from the Gold Fund for the last 5 years. Morningstar manager research director Kaushutha Belapurkar says that Indian investors prefer to buy gold in physical form instead of ETFs. Typically, investing 5-10% of the investor's portfolio is invested in gold. This is the reason why investors are investing in equity rather than investing in gold and elsewhere.
Look at the statistics
The advantage or loss in gold ETFs depends on the price of gold in the market. According to the data, 14 gold linked ETFs have been withdrawn from 45 crores in August, while in July this fund had generated 50 crores. In August last year, gold ETF was withdrawn from Rs 58 crores.

Increasing investment in tax saving schemes
On the contrary, money is being levied by Gold ETF, while investment in equity and equity linked schemes (ELSS) is increasing rapidly. Last month, the fund had invested Rs 7,700 crore.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Tuesday, 18 September 2018


BULLION:-

Gold The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 per cent. China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of US products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods. Asian stocks rose and US Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the US-China trade conflict, seen by some market participants as less severe than expected. The US Senate voted overwhelmingly on Tuesday to pass a mammoth spending package including $675 billion for the Defense Department and a measure to keep the entire federal government open until Dec. 7, a step toward avoiding a Sept. 30 shutdown. 

METALS:-

London copper led the gains overnight and settled 2.36% higher at $6,091/mt when eased market worries buoyed most base metals. It broke resistance at the 40-day moving average as shorts exited, and may test pressure above at the 60-day moving average in the short run. The SHFE 1811 contract also closed higher at 49,610 yuan/mt after rising to a high of 49,730 yuan/mt. Spot premiums will remain firm at 250-310 yuan/mt today.   Both LME nickel and the SHFE 1811 contract closed slightly higher as investors reduced concerns over the China-US trade war. Fresh US tariffs imposed on Chinese goods are expected to cause limited impact on the downstream stainless steel sector as China barely exports such products to the US. We expect LME nickel to consolidate around $12,300/mt today with the 1811 contract trading at 101,500-103,000 yuan/mt. Spot prices are set at 101,500-108,000 yuan/mt today. 

ENERGY:-

Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles. U.S. West Texas Intermediate (WTI) crude CLc1 fell 0.20 percent, or 14 cents, to $69.71 a barrel. U.S. crude inventories rose by 1.2 million barrels to 397.1 million in the week to Sept. 14, according to data released on Tuesday by the American Petroleum Institute (API). That compared with analyst expectations for a decrease of 2.7 million barrels. Stockpiles of distillate fuels, which include diesel and heating oil, rose by 1.5 million barrels, the API data showed, compared with expectations for a 651,000-barrel gain. U.S. crude build temporarily grabbed trader attention," said Chen Kai, head of commodities research at broker Shengda Futures.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.



Monday, 17 September 2018



BULLION:-

Gold prices have declined over 12 per cent from April amid intensifying global trade tensions and under pressure from rising US interest rates. Hedge funds and speculators have swung sharply toward pricing in higher rates and yields at the short end of the curve, a sign that they are backing down and now think the Fed will stick to the pace and path of rate hikes it has long flagged. Bond traders are increasing bets the Federal Reserve will raise US short-term interest rates into 2019 as the jobs market tightens and with inflation seen climbing above its 2 per cent goal. Three South African unions have signed a three-year wage deal with AngloGold Ashanti, potentially inching the country's gold industry closer to ending a standoff over pay. 

METALS:-

LME copper opened at a low of $5,858/mt today as shorts surged on news that the US is on the cusp of implementing tariffs of 10% on $200 billion worth of Chinese goods. Spot premiums are expected to stay at highs on expectations of rising demand before the upcoming week-long National Day holiday. Premiums are set at 190-250 yuan/mt today. LME nickel faced resistance at the five- and 10- day moving averages overnight, and settled 1.13% lower, even though pressure from the US dollar eased. The SHFE 1811 contract also fell as spot products increased faster than demand amid opened import window. We expect LME nickel to hover around $12,300/mt today with the contract trading at 101,000-102,500 yuan/mt. Spot prices are set at 102,000-108,500 yuan/mt. 

ENERGY:-

  Oil markets fell on Tuesday as the latest escalation in the Sino-U.S. trade war clouded the outlook for crude demand from the two countries, which are the world's top two oil consumers. U.S. West Texas Intermediate (WTI) crude CLc1 was down 28 cents, or 0.4 percent, to $68.62 per barrel. U.S. President Donald Trump on Monday said he would impose 10 percent tariffs on about $200 billion worth of Chinese imports. growing trade dispute has hurt trading sentiment. The impact on economic growth is slowly dripping in, which again hurts oil prices," Wang Xiao, head of crude research at Guotai Junan Futures, said on Tuesday. Refineries in the United States consumed about 17.7 million barrels per day (bpd) of crude oil last week while China's refiners used about 11.8 million bpd in August, according to government data from the countries, the most among the world's countries.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.