Commodities Daily Technical Report

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Daily equity Market By Ripplesadvisory Report 16-Aug-2016

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MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
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Dollar, Bond Yields Extend Gains after Yellen Remarks

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The US dollar added to gains while US Treasury yields hit session highs on Friday after Federal Reserve Chair Janet Yellen said a US interest rate hike will likely be appropriate in the coming months.  US stocks pared their advance. "It's appropriate ... for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate," Yellen told an audience of Harvard University professors and alumni.  Numerous Fed officials in recent weeks have talked up expectations that an increase in borrowing costs may be near.  After Yellen's speech, traders raised their expectations of a June rate hike to 34 percent from 30 percent, according to CME Group. For More Information Visit Us :- www.ripplesadvisory.com And Call Us :- 9827808090
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Jeera Update Update

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Jeera on NCDEX settled down by -1.03% at 17285 amid expectation of better crop next year. However downside seen limited amid poor supplies due to fag-end of the season and hopes of good export demand. Reports of lower output in other producing countries, Turkey and Syria will help the Indian exporters to clinch more export deals.  Expectations of good demand for the coming festive season may also support the upward price trend. In 2016- 17, the output of jeera is seen falling in other major producers Syria and Turkey to 10,000 ton and 12,000 ton respectively from 15,000 ton and 17,000 ton in 2015-16. As per market source, India is likely to export 40,000-45,000 ton more jeera in coming months. As per fourth advance estimate of Gujarat State for 2015-16, jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. However, it is much lower than 2013-14 output when the state produced 346,000 ton jeera. Get live News Updates visit us at http://ripplesadv...
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