Oil markets were volatile on Monday, with U.S. crude rising on production shutdowns while international Brent was pulled down by a flight into gold futures following a powerful North Korean nuclear test explosion.
Meanwhile, U.S. gasoline prices RBc1 slumped back from a spike after the release of emergency fuel stocks and on signs that the damage from Hurricane Harvey to the Gulf coast energy infrastructure was not as bad as initially feared. West Texas Intermediate (WTI) Clc1 crude futures were at $47.42 barrel at 0411 GMT, 13 cents above their last settlement. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
U.S. light crude was down 15 cents, or 0.3 percent, at $49.02 a barrel, after falling 0.4 percent on Tuesday.Crude stockpiles in the U.S. dropped more than expected last week as imports declined and refinery runs increased, while gasoline inventories increased unexpectedly, the American Petroleum Institute said late on Tuesday.
Crude inventories declined by 7.8 million barrels in the week to 478.4 million, compared with analyst expectations for a decrease of 2.7 million barrels. The U.S. Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. ET (1430 GMT) on Wednesday.But the market seems immune to bullish signs of falling stockpiles as the Organization of the Petroleum Exporting Countries (OPEC) and other major producers struggle to maintain compliance with a deal to cut output and drain U.S. inventories. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Oil prices fell on Thursday, as cautious buying dried up after U.S. crude rose to near $50 a barrel, with concern about high crude supplies from producer club OPEC offsetting the previous day's data showing record U.S. gasoline demand. Benchmark Brent crude settled down 35 cents a barrel at $52.01 a barrel. U.S. light crude was 56 cents lower at $49.03. U.S. crude traded at a session high of $49.96 a barrel.
OPEC crude oil exports rose to a record high in July, driven largely by soaring exports from the group's African members, according. U.S. light crude has remained below $50 a barrel, capped by robust domestic supplies. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Gold prices gained in Asia on Tuesday with regional currencies showing some gains on the dollar by regional currencies after a better than expected Caixin manufacturing PMI for July.
Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by 0.19% to $1,268.97 a troy ounce.
The Caixin manufacturing PMI came in at 51.1 on Tuesday, a better than expected figure that the 50.4 seen and aiding markets higher. On Monday. the CFLP manufacturing PMI reached 51.4, a trade below expected, but still in expansion, while a 54.5 for the services PMI also was seen as steady. Overnight, gold prices fell below breakeven on Monday, despite a more than fourteen-month slump in the dollar on the back of growing uncertainty whether the Federal Reserve will keep to its plan to raise rates at least once more this year. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call : 8817774774
Equity benchmarks extended gains in afternoon trade, with the Sensex up 157.01 points at 32,466.89 and the Nifty up 40.50 points at 10,055.
The rally was driven by banks, infra, technology and auto stocks but selling continued in healthcare, FMCG and HDFC group stocks.
The market breadth remained positive as about 1,330 shares advanced against 1,179 declining shares on the BSE.
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Oil prices rose to their highest levels since May early on Monday as a dip in US output tightened the market and the threat of sanctions against Venezuela kept traders on edge.
Brent crude futures, the international benchmark for oil prices, were trading up 18 cents or 0.3 per cent at $52.70 per barrel at 0009 GMT. Prices earlier hit $52.76, the highest level since May 25.
US West Texas Intermediate (WTI) crude futures were up 11 cents, or 0.2 per cent, at $49.82 per barrel.
Brent prices for delivery in September are currently around 35 cents above those for October.
After rising by more than 10 per cent since mid-2016, US oil production dipped by 0.2 per cent to 9.41 million barrels per day (bpd) in the week to July 21.
US crudeoil inventories have fallen by almost 10 per cent from their March peaks to 483.4 million barrels.
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Gold prices fell 0.18 per cent to Rs 28,425 per 10 grams in futures trade today as participants cut down bets amid a weak global trend. At the Multi Commodity Exchange, gold prices for delivery in August fell by Rs 53, or 0.18 per cent, to Rs 28,425 per 10 grams in a business turnover of 219 lots. Also, the metal for delivery in October declined by Rs 53, or 0.18 per cent, to Rs 28,695 per 10 grams in 64 lots. Analysts attributed the fall in prices to weak trend overseas and profit-booking by speculators at prevailing levels. Meanwhile, gold was trading 0.08 per cent down at USD 1,257.60 an ounce in Singapore.
Taking weak cues from global market, silver prices tumbled by Rs 133 to Rs 38,130 per kg in futures trade today as participants preferred to trim positions. At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 133, or 0.35 per cent, to Rs 38,130 per kg in a business turnover of 289 lots. The white metal for delivery in December lost Rs 115, or 0.30 per cent, to Rs 38,788 per kg in a business volume of 2 lots. In the international market, silver was trading 0.24 per cent down at USD 16.51 an ounce in Singapore today. Market men said, cutting down of positions by speculators, tracking a weak trend in global markets, mainly attributed fall in silver prices at futures trade here.For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call : 8817774774
Oil prices edged lower on Friday but were still near 8-week highs, buoyed by a decline in U.S. inventories and OPEC's ongoing efforts to curb production. Brent crude futures were down 6 cents, or 0.1 percent, at $51.43 per barrel at 0251 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 5 cents, or 0.1 percent, at $48.99 per barrel.
Both benchmarks rose to their highest levels since May 31 in the previous session, buoyed by a rally in U.S. gasoline futures after earlier support from OPEC's latest efforts to cut exports and a sharp fall in U.S. crude inventories. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call : 8817774774
Benchmark indices gained strength in the final hours of trade, with the Nifty closing above 10,000 for the first time ever. The Sensex closed higher by over 150 points.
The Sensex ended up 154.19 points at 32382.46, while the Nifty closed higher by 56.10 points at 10020.65. The market breadth, however, was narrow as 1349 shares advanced against a decline of 1332 shares, while 176 shares are unchanged. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Benchmark indices further extended their gains from the previous hour, with the Nifty inching closer to 10,000-mark.
The Sensex was up 86.29 points at 32314.56, while the Nifty was up 26.35 points at 9990.90. The market breadth was healthy as 1446 shares advanced against a decline of 787 shares, while 121 shares were unchanged.
Mahindra and Mahindra, Tata Steel, GAIL and Vedanta gained the most on both indices, while Asian Paints, Axis Bank and Zee Entertainment continued to be the top losers.For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Equity benchmark indices extended their gains from the opening tick, with the Nifty inching towards reclaiming the historic 10,000-mark.
The Sensex was up 68.05 points at 32296.32, while the Nifty was up 23.05 points at 9987.60. The market breadth was healthy as 1279 shares advanced against a decline of 622 shares, while 72 shares were unchanged.
Tata Steel, Mahindra and Mahindra, Vedanta and Tata Steel gained the most on both the indices, while Asian Paints, Axis Bank and Bharti Infratel were the top losers. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
The Sensex was up 28.89 points at 32257.16, while the Nifty was up 18.35 points at 9982.90. The market breadth was positive as 318 shares advanced against a decline of 110 shares, while 32 shares were unchanged.
Indian Rupee Opens At 64.42/USD :
The Indian rupee opened at 64.42 to the dollar dollar, down from its previous close of 64.38 on Tuesday.
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The Sensex was down 17.60 points at 32228.27, while the Nifty was down 1.85 points at 9964.55. The market breadth was negative as 1193 shares advanced against a decline of 1480 shares, while 169 shares were unchanged.
Axis Bank, Bharti Airtel, Vedanta and Indiabulls Housing gained the most, while Lupin, Tata Motors DVR, Zee Entertainment and UltraTech Cement were the top losers. Please Visit Our Website : www.paceresearchindia.com and Call Now : 8817774774
The Broader Nifty retreated from its historic five-digit mark of 10,000 mark in the mid-morning session on Tuesday to trade in the negative after investors booked partial profits in blue-chips like Reliance Industries, ITC and HCL Tech. NSE Nifty 50 pared morning gains and slipped from record highs to trade in red the as market participants turned cautious ahead of the major earnings due later today and the upcoming US Federal Reserve meeting which is also set for Tuesday.
The benchmark BSE Sensex also failed to hold on to its record levels and fell by 40 points to 32,20594 points.
The Sensex resumed higher at 32,350.71 and moved between all time record high of 32,374.30 and a low of 32,198.61 in morning trade. The broader Nifty was trading down by 16 points at 9,950.45 in the mid afternoon session. Please Visit Our Website : www.paceresearchindia.com and Call Now : 8817774774
Equity benchmarks continued to be range bound after the Nifty hit a historic high of 10,000 level and ahead of expiry of July derivative contracts on Thursday & US Federal Reserve meeting tonight.
The 30-share BSE Sensex was up 4.15 points at 32,250.02 and the 50-share NSE Nifty fell 3.90 points to 9,962.50. About 1,258 shares declined against 1,066 advancing shares on the BSE.
Indiabulls Housing Finance and Bharti Infratel were top gainers among Nifty 50 stocks, up over 2 percent. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with production cuts to help rein in global oversupply and tackle flagging prices. Gains were also supported by a warning from Halliburton’s executive chairman that the growth in North American rig count was “showing signs of plateauing,” clouding a boom in US shale oil production. London Brent crude for September delivery was up 30 cents, or 0.6 percent, at $48.90 a barrel by 0206 GMT after settling up 1.1 percent on Monday. US West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.7 percent, at $46.65. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call : 8817774774
Oil prices wavered between small gains and losses in European trade on Monday, ahead of a highly-anticipated meeting of some oil ministers from OPEC and non-OPEC producers, who are gathering to discuss compliance with the cartel's deal to cut production.
The monitoring committee meeting in St. Petersburg, Russia, includes OPEC members Kuwait, Algeria and Venezuela as well as non-OPEC countries Russia and Oman. Other ministers, from Saudi Arabia and elsewhere, could also participate as observers.
Market experts believe the ministers will likely recommend maintaining the policy of holding back output at current levels, but efforts will be made to bring Nigeria and Libya into the framework due to the recent recovery of their production. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call: 8817774774
Crude oil prices rebounded in Asia on Monday ahead of a July 24 meeting on OPEC and allies to review progress on output cuts.
The U.S. West Texas Intermediate crude September contract rose 0.15% to $45.84 a barrel. On the ICE Futures Exchange in London, 8833 Brent oil for September delivery 0.21% at $48.16 a barrel.
On Wednesday, the Fed will give its latest views on rates ahead of the first look at U.S. second quarter growth on Friday. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call: 8817774774
Gold futures ended higher on Thursday after European Central Bank President said ECB policymakers would discuss potential changes to the bank's bond-buying scheme in the autumn, lifting the euro to a 14-month high. Meanwhile, the Labor Department released a report showing that a much bigger than expected decrease in first-time claims for US unemployment benefits in the week ending July 15th. Initial jobless claims fell to 233,000, a decrease of 15,000 from the previous week's revised level of 248,000.
Gold futures for August delivery gained $3.50 or 0.3 percent, to settle at $1,245.50 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.4 percent at $1,244.92 an ounce.
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Equity benchmarks rebounded with moderate gains in opening on Friday, backed by Reliance Industries (up 1.8 percent) and Wipro (up 5 percent) after solid earnings performance.
The 30-share BSE Sensex was up 51.64 points at 31,956.04 and the 50-share NSE Nifty gained 11.80 points at 9,885.10. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
Oil markets were volatile on Monday, with U.S. crude rising on production shutdowns while international Brent was pulled down by a flight into gold futures following a powerful North Korean nuclear test explosion.
