Stock market opened marginally higher today but lost its profit in early trade. Equity benchmarks remained under pressure tracking weakness in Asian indices. BSE Sensex hikes 12 points to 27848 and Nifty hikes just 1.80 points to 8594. Rupee is trading with the strength of 3 paise at 67.02 against US Dollar. Asian market indices are trading lower. Nikkei lost 123 points to 16432, Hang Seng gains 124 points to 22939 and Shanghai composite with minor gains trading at 3085. Commodity market started on a good positive note. Gold hikes 51 points to 30979 while Silver has gained 194 points to 43853 till yet. Maximum sectors are trading in the negative zone. BSE Auto sector is leading of all the sectors with 93 points hike at 21197. Midcap sectors are trading lower in the negative zone. NCDEX market is showing negative movements. Rmseed dropped 26 points to 4622, Soyabean dropped 5 points to 3370, Dhaniya hikes 36 points to 7764 and Barleyjpr trading at 1529 with hike of 4 points.
Friday 26 August 2016
Monday 22 August 2016
Gold Silver Weekly Recommendation By Moneymaker
The COMEX Gold futures edged up above $1360 per ounce in the middle
of this month but flipped back as quick gains in US dollar hurt the
sentiments for precious metals. Dollar edged up from its six week low
of 1.1370 against the Euro after the Conference Board released a
report showing that its index of leading US economic indicators rose
for the second consecutive month in July. The Conference Board said
its leading economic index climbed by 0.4% in July following a 0.3%
increase in June. This pulled COMEX Gold down to almost $1340 per
ounce mark. MCX Gold futures for October moved mostly in a sideways
range, with highs above Rs 31500 per 10 gram levels constantly
triggering selling pressure. The US Federal Reserve officials
believed last month that near-term risks to the U.S. economy had
subsided and that an interest rate increase could soon be warranted.
But they did not indicate when they would likely raise rates. The
minutes of their July 26-27 meeting showed that officials were
encouraged by a rebound in job growth. They also took note of a
stabilization of financial markets after a bout of turbulence
triggered by Britain's June 23 vote to leave the European Union. The
Fed officials believed those developments had lessened the risks for
the economy in the short run. The minutes show that as a result, the
officials thought a rate increase "was or would soon be
warranted. But a key factor holding the Fed officials back was the
stubbornly slow rate of inflation, which has been running below the
central bank's 2% target for more than four years.
Indian Gold demand witnessed a lackluster performance over last few
months. An extended strike by Jewelers and elevated price saw
consumer demand for gold in India drop 18% year-on-year to 131 tons
in the second quarter of calendar year 2016 (Q2CY16), according to
the latest World Gold Council (WGC) report on gold demand trends for
the second quarter of 2016. The five year average for local Gold
demand is 219 tons. In dollar terms, the demand stood at $5304
Million, down 13% on year.
Tuesday 16 August 2016
Stock Market Updates by Moneymaker Research
Market indices snapped a two-day winning streak,
amid a volatile trading session, with Infosys among the top losers
after its key client Royal Bank of Scotland canceled a project.
Further, higher-than-expected increase in July wholesale price
inflation and weak global cues also dampened sentiment. The Sensex
ended lower 88 points at 28,065 after breaking the 28,000 mark in
intra-day trade and theNifty50 slipped 30 points to settle at 8,643.
Broader markets, however, outperformed the benchmark indices - BSE
Midcap index inched up 0.5% while and the Small cap index ended flat.
The wholesale price index- (WPI) based inflation rose by 3.35% in
July up from 1.62% in June, pushed up by food prices such as
vegetables and fruits. Consumer prices rose at a faster-than-expected
pace to 6.07.
Highest OI increase w.r.t to increase in price was
seen in and Highest OI increase w.r.t to ICICIBANK Decrease in price
was seen in BANKINDIA.
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