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Showing posts with label mcx update. Show all posts
Showing posts with label mcx update. Show all posts

Friday, 24 May 2019


mcx update


BULLION - Bullion counter may trade with upside bias as gold prices held steady on Friday after rising above $1,280 in the previous session as weaker U.S. data pushed back the dollar and reignited hopes of a rate cut by the Federal Reserve this year. The U.S. dollar retreated after hitting its highest level in two years as weaker domestic data and the potential economic fallout from the trade war with China increased expectations for an interest-rate cut this year. Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in economic growth was underway. The U.S. military said it sent two Navy ships through the Taiwan Strait on Wednesday, its latest transit through the sensitive waterway, angering China at a time of tense relations between the world two biggest economies. Bullion is often seen as a safe-haven investment in times of political or economic uncertainty.



ENERGY- Crude oil may witness some short covering at lower levels as oil markets stabilized on Friday amid OPEC supply cuts and tensions in the Middle East, after posting their steepest falls since the start of the year earlier in the week on the back of a global economic slowdown and swelling fuel inventories. The Organization of the Petroleum Exporting Countries (OPEC) has led supply cuts since the start of the year aimed at tightening the market and propping up prices. Increasing (oil) inventories and slumping U.S. manufacturing activity exacerbated trade related concerns about global demand. U.S. natural gas futures rose on Thursday on a smaller than expected storage build and forecasts for warmer weather and higher cooling demand. 



BASE METAL - Base metals may trade with slightly positive bias. Copper prices rebounded on Friday from their lowest since Jan. 14 hit in the previous session, as the U.S. dollar eased, but were heading for their sixth straight week of losses on a prolonged U.S.-China trade war. Codelco's giant Chuquicamata mine is set for a 40% drop in production over the next two years, an internal forecast seen by Reuters shows, pointing to the sharp challenge facing the world's top copper miner as it scrambles to maintain output. U.S. President Donald Trump said on Thursday Huawei could be included in the U.S.-China trade deal after last week banned U.S. firms from doing business with the Chinese company, which is the world's largest telecoms network gear maker. Chinese steel futures edged down on Friday on worries about oversupply amid an increase in utilisation rates at mills, but they remained on track for a weekly gain. 


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Thursday, 23 May 2019

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BULLION - Bullion counter may trade with sideways to weak bias as gold prices were steady on Thursday, as simmering Sino-U.S. trade tensions underpinned the dollar, while bullion investors looked for a direction after the minutes of the U.S. Federal Reserve meeting indicated that there was no hurry in cutting rates. The U.S. administration is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country's treatment of its Uighur Muslim minority, a person briefed on the matter said on Wednesday. Meanwhile, minutes from the U.S. Federal Reserve's latest meeting showed that officials agreed their current patient approach to setting monetary policy could remain in place "for some time," further sign policymakers see little need to change rates in either direction. Lackluster investor interest in bullion was reflected in the holdings of SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund. Holdings have declined nearly 7% so far this year.

ENERGY- Crude oil may remain subdued as oil prices dipped on Thursday, extending bigger falls from the previous session, as surging U.S. crude inventories and weak demand from refineries weighed on markets. However, oil markets still remain relatively well supported by supply cuts led by the OPEC producer cartel and by political tension in the Middle East. U.S. crude oil inventories rose last week, hitting their highest levels since July 2017, due to weak refinery demand, the Energy Information Administration said on Wednesday. Commercial U.S. crude oil inventories rose by 4.7 million barrels in the week ended May 17, to 476.8 million barrels, their highest since July 2017, the EIA data showed. Countering these bearish price factors have been escalating political tensions between the United States and Iran, as well as ongoing supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) that started in January in an effort to prop up the market. 

BASE METAL - Base metals may remain on a weaker side. China, the world's top metals consumer, is due to report final trade data for April, including scrap metal and alumina import figures, later on Thursday. Shanghai copper and zinc slid to multi-month lows on Thursday as the China base metals complex tracked a broad selloff in London overnight amid Sino-U.S. trade tensions, while President Xi Jinping warned of difficult times ahead. Chinese miner MMG Ltd's operations at its Las Bambas mine, one of Peru's largest copper producers, have not been disrupted and talks with an indigenous Peruvian community are ongoing, the miner said on Wednesday. Zinc used to galvanize steel, fell as much as 1.5% in Shanghai to 20,290 yuan a tonne, the lowest since Feb. 15. Shanghai nickel was down 0.9% at 96,760 yuan a tonne. The global nickel market deficit widened to 12,500 tonnes in March from a revised shortfall of 1,000 tonnes the previous month, the International Nickel Study Group said. 

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Monday, 13 May 2019



BULLION - Bullion counter may trade on upside bias as gold steadied on Tuesday, having recouped the key $1,300-level in the previous session, after Beijing's announcement of a retaliatory tariff-hike to counter Washington rocked risk sentiment, embellishing appetite for safe-haven assets. China said on Monday it would impose higher tariffs on most U.S. imports on a revised $60 billion target list, hitting back at a tariff hike by Washington on $200 billion of Chinese goods. U.S. President Donald Trump said he would meet Chinese President Xi Jinping next month as the trade war between the world's two largest economies intensified, sending shivers through global markets. China raised gold holdings by 11.20 tonnes to 1,885.54 tonnes in March, the International Monetary Fund (IMF) said on Monday.

ENERGY- Crude oil may trade with sideways bias as oil prices were moving higher on Tuesday, though gains were checked amid an escalation in the trade war between the United States and China. Headlines from the Middle East grabbed attention early in the session after Saudi Arabia said two of its oil tankers were among those attacked off the coast of the United Arab Emirates, describing it as an attempt to undermine security of supply amid United States-Iran tensions. China on Monday ignored a warning from U.S. President Donald Trump and moved to impose higher tariffs on a range of U.S. goods including frozen vegetables and liquefied natural gas. The U.S. Energy Department said on Monday that it was confident global oil markets are well supplied. U.S. natural gas futures edged up to a four-week high on Monday as record liquefied natural gas (LNG) exports and higher estimated demand for next week than previously forecast offset an increase in production.

BASE METAL - Base metals prices may witness some short covering at lower levels as most industrial metals rose on bargain buying on Tuesday after prices tumbled in recent sessions due to escalated trade tensions between China and the United States. Copper inventories in warehouses approved by the London Metal Exchange fell further on Friday to its lowest since April 25 at 203,750 tonnes, latest data showed. The copper market should see a deficit of 189,000 tonnes this year, widening to 250,000 tonnes in 2020, the International Copper Study Group (ICSG) said on Monday. World refined output is likely to increase by about 2.8% and 1.2% in 2019 and 2020 respectively, while demand is expected see an increase of about 2% and 1.5%, the group said.


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Tuesday, 7 May 2019


BULLION - Bullion counter may trade on sideways to upside bias as gold prices firmed on Wednesday as renewed concerns on U.S.-China trade dispute upset risk appetite, boosting demand for safe-haven assets. Growing fears about the impact on global growth from a worsening U.S.-Sino trade conflict kept the Japanese yen, which like gold is also a safe-haven asset, near its highest since late March. SPDR Gold Trust, the world largest gold-backed exchange-traded fund, said its holdings rose 0.04 percent to 739.94 tonnes on Tuesday from 739.64 tonnes on Monday. International sanctions could be reimposed on Iran if it reneges on commitments under its nuclear deal, sources at the French presidency said on Tuesday, after Tehran said it would scale back its compliance a year after Washington pulled out.

ENERGY- Crude oil may trade with sideways to upside bias as oil prices stabilized on Wednesday as markets remained relatively tight amid U.S. sanctions on crude exporters Iran and Venezuela. The United States re-imposed sanctions on Iran in November last year, demanding all countries stop importing oil from the country. Iran has said it will defy the sanctions and continue to export oil. Crude oil may test 4370 while taking support near 4250. Washington has also slapped sanctions on Venezuelan oil exports, further disrupting crude supply. Wednesday firmer prices partly reversed bigger price falls earlier in the week, which were triggered by announcements from Washington that the United States would this Friday further hike import tariffs on Chinese goods. Natural gas may trade in range of 176- 182 in MCX.

BASE METAL - Base metals prices may trade with upside bias. China's April exports unexpectedly fell 2.7 percent from a year earlier, while imports grew by a surprising 4 percent, their first increase in months, official data showed on Wednesday. A trade dispute between China and the United States is the main issue causing volatility in metal prices and market participants are braced for stormy conditions to persist. Copper production at Chile's top mines dropped sharply in the first quarter of 2019, Chilean copper commission Cochilco said on Tuesday, amid a perfect storm of operational issues, heavy rains and falling ore grades at the largest deposits. 


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Monday, 6 May 2019


mcx


BULLION - Bullion counter may trade on sideways to upside bias as gold prices climbed on Monday after U.S. President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-U.S. trade tensions, which prompted investors to sell riskier assets and boost safe-haven bullion. U.S. President Donald Trump on Sunday announced he would hike tariffs on $200 billion worth of Chinese goods this week. He also said he would target a further $325 billion of Chinese goods with 25 percent tariffs shortly, essentially covering all products imported into the United States from China. Trump comments dented global shares and oil prices, while boosting the yen, which like the yellow metal, is considered a safe haven during times of a geopolitical or global economic turmoil. Hedge funds and money managers switched to a net long position in COMEX gold in the week to April 30, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

ENERGY- Crude oil may trade with sideways bias as oil prices were mixed on Tuesday as U.S. sanctions on oil exporters Iran and Venezuela kept markets on edge while concerns that an escalating Sino-U.S. trade dispute could slow the global economy also kept crude somewhat in check. The United States is tightening sanctions on Iranian oil exports and on Monday said it was boosting its military presence in the Middle East. Tehran has said it would defy these sanctions and try to continue selling oil in the grey market. Iran has also threatened reciprocal actions against U.S. sanctions, which could mean restarting some of its nuclear programme. The U.S. sanctions have already halved Iranian crude oil exports over the past year to below 1 million barrels per day (bpd), and shipments to customers are expected to drop as low as 500,000 bpd in May as U.S. sanctions tighten. Beyond Iran, the crisis in Venezuela has also disrupted oil supplies from this OPEC member, with Washington placing oil sanctions on the Venezuelan government under President Nicolas Maduro. U.S. natural gas futures fell on Monday to their lowest in over a week on forecasts for warmer weather and less heating demand over the next two weeks than previously expected. 

BASE METAL - Base metals prices may trade with sideways bias. London base metals were mixed in early trade on Tuesday amid concerns that an escalating U.S.-China trade tension could hurt the global economy, but copper and nickel on the Shanghai Futures Exchange rebounded from the previous session's slump. China's central bank said on Monday it will cut reserve requirement ratios to release about 280 billion yuan ($41 billion) for some small- and medium-sized banks, in a targeted move to help companies struggling amid an economic slowdown. U.S. President Donald Trump said he would impose additional tariffs on Chinese goods slated to go into effect on Friday, as China, according to U.S. trade officials, backtracked on substantial commitments it had made during the trade negotiations. Beijing is sending a delegation to Washington this week, led by Chinese Vice Premier Liu He, to try to reach a trade deal with the United States ahead of the tariffs imposition, U.S. Trade Representative Robert Lighthizer said on Monday. 



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Thursday, 2 May 2019

mcx update

BULLION - Bullion counter may trade on sideways bias as gold steadied near a four-month low on Friday, as comments from U.S. Federal Reserve Chairman Jerome Powell reduced expectations of a near-term rate cut, putting bullion on track for a weekly fall. The dollar looked set to end the week with a firmer tone on Friday as markets scaled back bets on a U.S. rate cut, though much depends on what jobs data due later in the session says about the health of the economy and wages. On Wednesday the U.S. Fed held interest rates steady with Chairman Jerome Powell further stating there was no need for any readjustment in prices anytime soon and that inflation risks were based on transitory factors. U.S. worker productivity increased at its fastest pace in more than four years in the first quarter, depressing labour costs and suggesting inflation could remain benign for a while.


ENERGY- Crude oil may continue to extend losses as oil prices fell slipped on Friday, extending a steep fall from the previous session on surging U.S. output and an expected supply increase from producer club OPEC and putting crude on track for a second week of declines. U.S. crude oil production reached a record 12.3 million barrels per day (bpd) last week EIA, rising by around 2 million bpd over the past year. U.S. crude exports broke through 3 million bpd for the first time this year, according to data from the Energy Information Administration. Rising U.S. oil production has helped offset some of the disruptions from U.S. sanctions against Iran and Venezuela, and from supply cuts led by the Middle East-dominated producer club of the Organization of the Petroleum Exporting Countries (OPEC), which started in January. Despite these disruptions and sharp oil price rises in the first months of this year, some analysts say the long-term price risk to crude oil is skewed to the downside. U.S. natural gas futures on Thursday fell from a two-week high after a federal report showed a much bigger-than-normal storage build last week that exceeded expectations. The U.S. Energy Information Administration (EIA) said utilities added 123 billion cubic feet (bcf) of gas to inventories during the week ended April 26. That was the biggest build this early in the injection season, according to EIA data going back to 1994.

BASE METAL - Base metals prices may trade with sideways to upside bias. Copper prices and other industrial metals rebounded slightly on Friday in thin Labour Day holiday trade, with electric vehicle maker Tesla Inc expecting a global shortage for nickel and copper. Copper has been under pressure on uncertain demand outlook from China, the world biggest consumer of the red metal, as the Chinese economic growth has yet shown a steady sign of stabilising after last year slowdown. Latest data showed copper stocks in LME-approved warehouses rebounded slightly to 231,950 tonnes on Wednesday when the LME copper cash-to three month spread returned to the discount zone. Nickel stocks in LME-approved warehouses were at its lowest level since April 2013, latest data showed. 


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Wednesday, 1 May 2019

mcx tips

BULLION - Bullion counter may trade on negative bias as gold steadied on Thursday, holding just above a one-week low touched in the previous session after comments from U.S. Federal Reserve Chairman Jerome Powell dashed hopes of a near-term rate cut, boosting the dollar. The dollar took a breather in Asia on Thursday after markets were whipsawed by mixed messages on policy from the Federal Reserve. On Wednesday the dollar rose after the Fed held interest rates steady and signalled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher. Venezuelans heeded opposition leader Juan Guaido call to take to the streets on Wednesday in a bid to force President Nicolas Maduro from power, but there was little concrete sign of change in a crisis that increasingly looks like a political stalemate.

ENERGY- Crude oil may continue to extend losses as oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles. Outside the United States, however, oil markets remained tense as exemptions to U.S. sanctions on Iran expired, a political crisis in Venezuela escalates, and as producer club OPEC keeps withholding supply. U.S. crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 barrels, as production set a record high of 12.3 million barrels per day (bpd), while refining activity rates fell, the Energy Information Administration (EIA) said on Wednesday. Outside the United States, however, oil markets remained tight amid the political crisis in Venezuela, tighter U.S. sanctions against Iran that allow no more exemptions from May, and as the Organization of the Petroleum Exporting Countries (OPEC) continues to withhold supply in order to prop up prices. Oman energy minister Mohammed bin Hamad al-Rumhy said on Wednesday it was OPEC goal to extend the cuts, which were started in January, when they next meet in June. Despite the desire of many OPEC members to keep withholding supply to prop up the market, the group may be forced into action. 

BASE METAL - Base metals prices may trade with sideways bias. Most base metals except copper and zinc on Thursday rose from a tumbling session in the previous day, with progress in the U.S.-China trade talks lending some support. The United States and China are nearing a trade deal that would roll back a portion of the $250 billion in U.S. tariffs on Chinese goods, Politico reported on Wednesday. Base metals slumped on the London Metal Exchange (LME) on Wednesday, with aluminium and lead hitting their lowest in more than two years, as computer-driven funds sold after an options expiry amid concerns about China demand. U.S. Treasury Secretary Steven Mnuchin said on his Twitter account that the two countries have completed productive talks in Beijing. Three-month copper on the London Metal Exchange edged down 0.2 percent to $6225 a tonne, while zinc fell 1.1 percent after Wednesday data showed zinc stocks in LME-approved warehouse rose to 85,050 tonnes, its highest since Feb. 19. 


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Monday, 29 April 2019

Mcx update

BULLION - Bullion counter may trade on positive bias as gold edged up on Tuesday as Asian shares fell ahead of the release of a raft of economic data and the U.S. Federal Reserve two-day meeting which will decide the trajectory of interest rates. Growth in China factory activity unexpectedly slowed in April, an official survey showed on Tuesday, suggesting the economy is still struggling to regain traction despite a flurry of support measures. The market is now eyeing a bevy of economic data from the euro zone and the Fed statement on Wednesday. The Federal Reserve is expected to hold interest rates steady as policymakers balance recent stronger-than-expected U.S. economic growth against sluggish inflation. China net gold imports via main conduit Hong Kong in March rose 9.8 percent from the previous month, Hong Kong government data showed on Monday.

ENERGY- Crude oil may witness some profit booking as oil prices dipped on Tuesday on expectations rising output from the United States and producer club OPEC would offset most of the shortfall expected from U.S. sanctions on Iran, but analysts said markets remained tight. Oil prices surged by around 40 percent between January and April, lifted by supply cuts led by the Middle East-dominated producer club of the Organization of the Petroleum Exporting Countries (OPEC) as well as by U.S. sanctions on producers Iran and Venezuela. But prices came under downward pressure late last week after U.S. President Donald Trump openly pressured OPEC and its de-facto leader Saudi Arabia to raise output to meet the supply shortfall caused by the tightening Iran sanctions. U.S. exports exceeded 3 million barrels per day (bpd) for the first time in early 2019 amid a more than 2 million bpd production surge over the past year, to a record of more than 12 million bpd. 

BASE METAL - Base metals prices may trade with sideways to positive bias. Jiangxi Copper Co one of China's biggest copper producers, plans to build a plant to produce refined copper in Malaysia's eastern state of Sabah as the country emerges as a dismantling centre for non-ferrous scrap, its chairman said. Global crude steel production rose 4.9 percent to 155 million tonnes in March from the same month a year ago, figures from the World Steel Association showed on Monday. Global crude steel production rose 4.9 percent to 155 million tonnes in March from the same month a year ago, figures from the World Steel Association showed on Monday. China's iron ore futures rose on Tuesday and were on track to post their fifth straight monthly gain, while construction steel headed for its best month since July 2018. Russian aluminium giant Rusal has appointed Charles Brian Hesse the head of its office in the United States at a time when it is trying to strengthen its presence in North America, the firm said in a statement on Tuesday.


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Thursday, 25 April 2019


BULLION - Bullion counter may trade on positive note as gold rose on Friday, on track for its first weekly gain in five weeks as investors focused on signs of economic weakness after dismal data from Germany and Asia, although a strong dollar ahead of U.S. GDP data kept a lid on gains. The dollar was also helped by data showing new orders for U.S.-made capital goods increased by the most in eight months in March, hitting their highest level on record. Japanindustrial output fell 0.9 percent in March from the previous month, down for the first time in two months, government data showed on Friday. The U.S. Federal Reserve is done raising interest rates until at least the end of next year, while about a third of economists polled by Reuters who had a view that far out predicted at least one rate cut by then.

ENERGY- Crude oil may witness some profit booking at higher levels as oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a tightening of sanctions by the United States against Tehran. But prices were already gaining before the Russian disruption, driven up by supply cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) and U.S. sanctions against Venezuela and Iran. Crude futures are up around 40 percent so far this year. Washington said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington. To make up for the shortfall from Iran, the United States is pressuring OPEC de-facto leader Saudi Arabia to end its voluntary supply restraint. Despite U.S. efforts to drive Iranian oil exports down to zero, many analysts expect some oil to still seep out of the country. U.S. natural gas futures rose following the release of a storage report that was mostly in line with expectations, but warmer-than-normal weather, low heating demand and near-record production kept a lid on prices.

BASE METAL - Base metals prices may trade with sideways to positive bias. London copper prices on Friday inched away from a one-month low touched in the previous session, buoyed as the U.S. dollar eased from a two-year high. Sentiment was also supported by news that U.S. President Donald Trump would soon host Chinese leader Xi Jinping at the White House, setting the stage for a possible agreement on trade between the world two largest economies. Freeport-McMoRan Inc copper output fell 18 percent to around 340,000 tonnes in the first quarter, while Anglo American production rose by 4 percent to 161,100 tonnes. Australian miner Aurelia Metals Ltd said it was in talks about a possible acquisition of Glencore CSA copper mine in the state of New South Wales. 


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Wednesday, 24 April 2019


mcx update


BULLION - Bullion counter may trade on flat to negative note as gold prices eased on Thursday as the dollar remained near a two-year high hit in the previous session, while a dip in equities and weak data from Germany augmented worries about the pace of global growth and cushioned losses in the safe-haven bullion. The euro nursed losses against the dollar on Thursday after dipping to a 22-month low on a surprise drop in a leading indicator for economic activity in Germany, amplifying worries of a growth slowdown in Europe largest economy. Gold is often used as a hedge against economic and political uncertainties. U.S. Treasury yields were lower across maturities on Wednesday as investors piled into the safe-haven government bonds following a dovish report from Canada central bank, weak data from Germany and Australia, and solid demand at auction for $41 billion of new five-year notes. SPDR Gold Trust, the world largest gold-backed exchange-traded fund, said its holdings fell 0.23 percent to 747.87 tonnes on Wednesday from 749.63 tonnes on Tuesday.


ENERGY- Crude oil may witness some profit booking at higher levels as oil prices fell on Thursday as record U.S. output and rising crude stockpiles dampened the impact on markets of tighter U.S. sanctions on Iran and producer club OPEC continued curbs on supply. Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington. U.S. crude oil production EIA has risen by more than 2 million barrels per day (bpd) since early 2018 to a record of 12.2 million bpd currently, making the United States the world biggest oil producer ahead of Russia and Saudi Arabia. Alcoa, which has targeted both plants for closure for some time, finally reached agreement with unions in January and curtailed the last operating plotlines in February, removing 128,000 tonnes of annual capacity from the European market. U.S. natural gas futures settled higher on Wednesday after touching their lowest level in nearly three years in the last session, as forecasts for hotter weather were expected to boost cooling demand.


BASE METAL - Base metals prices may trade with sideways to positive bias. Global aluminium production flatlined in the first quarter of this year, according to the International Aluminium Institute (IAI). A couple of longrunning outages together with curtailments in Europe caused production outside China to dip 1.4 percent to 6.37 million tonnes in the first three months of 2019. Chinese production, a complex moving picture of price-induced curtailments, pollution controls and capacity swaps, edged 1.6 percent higher to 8.93 million tonnes. The net result was that global production rose by a marginal 0.3 percent year-on-year as China remained the world dominant player with a 57 percent share of world production.


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Tuesday, 23 April 2019

MCX Update

BULLION - Bullion counter may trade on flat to negative note Gold prices eased on Wednesday, remaining near a four-month low touched in the previous session as the dollar strengthened and Asian shares rose after the Nasdaq and S&P 500 indexes marked record closing highs. The dollar hovered near a 22-month peak against its peers on Wednesday, after strong U.S. housing data further eased concerns of a slowdown in the world biggest economy. Sales of new U.S. single-family homes rose to a near 1-1/2-year high in March, boosted by lower mortgage rates and house prices. After China economy defied expectations that it would slow further in January-March, U.S. growth is expected to be 2.1 percent in the same period, although the range of analysts estimates was wider than usual at 1.0 to 2.9 percent. SPDR Gold Trust, the world largest gold-backed exchange-traded fund, said its holdings fell 0.27 percent to 749.63 tonnes on Tuesday from 751.68 tonnes on Monday.

ENERGY- Crude oil may witness some profit booking at higher levels as oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington push for tighter sanctions against Iran. Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington. The International Energy Agency (IEA), a watchdog for oil consuming countries, said in a statement on Tuesday that markets are adequately suppliedand that global spare production capacity remains at comfortable levels. The biggest source of new oil supply comes from the United States, where crude oil production EIA has already risen by more than 2 million barrels per day (bpd) since early 2018 to a record of more than 12 million bpd early this year, making America the world biggest oil producer ahead of Russia and Saudi Arabia. U.S. natural gas futures dipped on Tuesday to their lowest level in nearly three years as higher production and a drop in demand weighed on prices.

BASE METAL - Base metals prices may trade with sideways to positive bias. Most industrial metals on the London Metal Exchange rose on Wednesday, after a top White House economic adviser said the United States and China were making progress in trade talks. The global world refined copper market showed an 8,000 tonne deficit in January, compared with an 11,000 tonne surplus in December, the International Copper Study Group (ICSG) said in its latest monthly bulletin. Global primary aluminium output rose to 5.414 million tonnes in March from a revised 4.916 million tonnes in February, data from the International Aluminium Institute (IAI) showed on Tuesday.


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
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Wednesday, 17 April 2019


BULLION - Gold prices on Thursday touched their lowest this year, and were on course for a fourth straight weekly decline, as recent economic data drove investors towards riskier assets, with traders eyeing clues to gauge the health of global economy. Spot gold was down 0.1 percent at $1,272.33 per ounce, as of 0147 GMT, having touched $1,271.71 earlier in the session, its lowest since Dec. 27, 2018. U.S. gold futures dipped 0.2 percent lower to $1,274.50 an ounce. Economic data from China tempered concerns about global growth and took the sheen off safe-haven bullion. China economic growth in the first quarter remained steady at 6.4 percent, topping expectations for a 6.3 percent expansion. The data boosted global appeal for riskier assets Investors' immediate focus turned to the release of Purchasing Managers Indexes (PMIs) for the manufacturing and service sectors in Europe later in the day to provide more clues on the strength of the euro zone economy. In news, the U.S. Federal Reserve said on Wednesday it found economic activity in the country grew at a slight-to-moderate pace in March and early April. Secondly, the U.S. trade deficit fell to an eight-month low in February as imports from China plunged, temporarily providing a boost to President Donald Trump's "America First" agenda and economic growth in the first quarter. 

ENERGY- Crude Oil prices edged down on Thursday despite a surprise decline in U.S. inventories, with international benchmark Brent retreating from a five-month high touched in the previous session. Brent crude futures were at $71.51 a barrel at 0056 GMT, down 11 cents, or 0.2 percent, from their last close. Brent fell 0.1 percent on Wednesday, after earlier touching its highest since Nov. 8 at $72.27 a barrel. U.S. West Texas Intermediate (WTI) crude futures were at $63.67 per barrel, down 9 cents, or 0.1 percent, from their previous settlement. WTI closed the last session down 0.5 percent. U.S. crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels. Net U.S. crude imports last week dropped by 659,000 barrels per day (bpd). U.S. natural gas futures plunged on Wednesday to their lowest since June 2016, as near-record production and forecasts for lower heating demand in the next two weeks allow utilities to stockpile gas, helping inventories rebound from unusually low levels. Ahead of weekly data on Thursday, market participants said utilities likely added a much bigger than normal 87 billion cubic feet (bcf) of gas to inventories during the week ended April 12. Front-month gas futures for May delivery on the New York Mercantile Exchange fell 5.5 cents, or 2.1 percent, to settle at $2.517 per million British thermal units (mmBtu), the lowest since June 8, 2016.

BASE METAL - Base metal counter are expected to trade sideways with downside getting capped owing to optimistic sentiments prevailing on the international market. China's economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement. Copper prices hit a nine-month high on Wednesday as firmer-than-expected economic growth figures from China boosted expectations for higher demand in the world's top metals consumer. Benchmark copper touched its highest since July 3 at $6,608.50 per tonne before finishing up 0.9 percent at $6,556. China's economy grew at a 6.4 percent pace in the first quarter from a year earlier, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement. Shanghai nickel and zinc fell 1.1 percent and 0.8 percent, respectively, mirroring a decline in the Chinese ferrous complex. Lead was also down. China's aluminium production fell 3.6 percent on a daily basis in March from the previous two months to its lowest rate since October, pressured by winter curbs on industry and low prices. This pushed Shanghai aluminium up as high as 13,995 yuan ($2,092.59) a tonne, its highest intraday level since December.


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