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Showing posts with the label mcx market tips

Riga Sugar locked at lower circuit after CFO resigns

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There were pending sell orders of 499 shares, with no buyers available. Shares of Riga Sugar Companylocked at 5 percent lower circuit after the resignation of its CFO. Satya Ranjan Mallick has resigned from the post of chief financial officer (CFO) of the company with effect from August 16, 2019. There were pending sell orders of 499 shares, with no buyers available. At 1129 hrs, Riga Sugar Company was quoting at Rs 6.88, down Rs 0.36, or 4.97 percent. Best Share Market News, Click Here To Get More News -  Share Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

Oil rises on European stock draw despite demand slowdown forecast

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Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008. Brent crude futures gained $1.15, or 2%, to settle at $58.53 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $1.96, or 3.7%, to settle at $54.50 a barrel. "Despite a further cut in oil demand growth by the IEA, oil prices are trading marginally higher, as the demand growth cut was already announced previously by the head of the IEA and the agency still expects larger inventory draws for 2H19," said UBS analyst Giovanni Staunovo. The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war. Oil prices rose after Euroilstock data showed total crude and product inventories of 16 European nations in July ...

Gold rises as markets brace for Fed meeting

Gold prices gained on Monday ahead of this week's U.S. Federal Reserve monetary policy meeting, which is expected to lead to a cut in U.S. interest rates. FUNDAMENTALS Spot gold was up 0.4% at $1,423.49 per ounce, as of 0121 GMT. U.S. gold futures gained 0.3% to $1,423.20 an ounce. Market participants are now awaiting the U.S. central bank's July 30-31 monetary policy meeting, where it is expected to trim its interest rate by at least 25 basis points. Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move. U.S. economic growth slowed less than expected in the second quarter according to a Commerce Department report on Friday, making the Fed less likely to cut rates by 50 basis points given the economic improvement. Better than expected U.S. data lifted the dollar to a two-month high versus a basket of currencies on Friday, and held firm near that level on Monday. ...

Gold ticks up on Iran tensions; firmer dollar limits upside

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Spot gold was up 0.2% at $1,427.26 per ounce as of 0322 GMT. The metal hit $1,452.60 in the previous session, its highest since May 2013, before closing 1.5% lower. Gold prices gained on Monday following a steep fall in the previous session as tensions in the Middle East and weaker financial markets supported the metal, while a stronger dollar kept a lid on gains. Spot gold was up 0.2% at $1,427.26 per ounce as of 0322 GMT. The metal hit $1,452.60 in the previous session, its highest since May 2013, before closing 1.5% lower. U.S. gold futures were up 0.1% at $1,428.50 an ounce. "Over the weekend, what happened between Iran and the United Kingdom is supporting gold prices today," said Brian Lan, managing director at dealer GoldSilver Central in Singapore. "Also, equities are lower and at this point of time with geo-political tensions and the Fed looking to cut rates, gold looks attractive, but people are worried about the stronger dollar....

Gold rises on fresh trade tensions, Fed rate cut bets

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Gold prices rose on Friday and were on track to post a weekly gain, consolidating above $1,400 as renewed Sino-U.S. trade tensions amid global growth jitters and prospects of an interest rate cut by the U.S. Federal Reserve stoked safe-haven demand. Spot gold was up 0.3% at $1,407.69 per ounce as of 0426 GMT. Gold has risen nearly 0.6% so far this week. U.S. gold futures were up 0.2% at $1,409.90 an ounce. "We have a slightly weaker U.S. dollar, tensions in the Middle East and once again, prolonged trade dispute between the U.S. and China, which are all supportive," said Michael McCarthy, chief market strategist, CMC Markets. Fed Chair Jerome Powell indicated on Thursday that a rate cut is likely at the Fed's next meeting as businesses slow investment due to trade disputes and a global growth slowdown. Meanwhile, U.S. President Donald Trump said China was not living up to promises it made on buying agricultural products from American farmers. ...

Gold slips as dollar strengthens ahead of Powell testimony, FOMC minutes

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Gold prices eased on Wednesday as the dollar climbed higher on expectations of a less dovish U.S. Federal Reserve, ahead of a testimony from the its Chairman Jerome Powell. Spot gold was down 0.4% to $1,392.50 per ounce as of 0410 GMT. U.S. gold futures slipped 0.4% to $1,394.90 an ounce. "A stronger U.S. dollar is clearly weighing on gold prices. Overall, it appears that the markets are backing away from their more dovish stance given that we have important minutes being released by the U.S. Fed," said Michael McCarthy, chief market strategist, CMC Markets. "Also, people are locking in gains and reducing positions ahead of those key events," he added. The minutes from Fed's previous meeting will be released later in the day. The dollar edged toward a three-week high against a basket of major currencies on Wednesday, as fading expectations of an aggressive U.S. interest rate cut pushed Treasury yields higher. A stronger dollar...

Budget 2019

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लोकसभा में बजट पेश कर रही हैं वित्त मंत्री निर्मला सीतारमण। देश की जनता ने बड़ा जनादेश दिया है। हमारी सरकार ने स्थिर भारत की कल्पना को साकार किया। संसद में निर्मला सीतारमण ने सुनाया शेर, 'यकीन हो तो कोई रास्ता निकलता है, हवा की ओट लेकर भी चिराग जलता है।' भौतिक और सामाजिक अवसरंचना निर्माण, डिजिटल इंडिया, हरित भारत, चिकित्सा उपकरणों पर जोर, मेक इन इंडिया पर हमारा फोकस होगा: निर्मला सीतारमण अंतरिक्ष कार्यक्रम, ब्लू इकॉनमी, जल प्रबंधन, स्वस्थ समाज और नागरिकों को सुरक्षा जैसे मसले भी हमारे फोकस में होंगे: निर्मपीएम नरेंद्र मोदी की पहली सरकार परफॉर्मिंग गवर्नमेंट रही है। 2014 से 2019 के दौरान हमने केंद्र एवं राज्य के संबंधों को नई ऊंचाइंया दीं: निर्मला सीतारमणला सीतारमण पिछले 5 सालों में हमने दिवालिया कानून जैसे सुधार देखे हैं। इसके अलावा आम लोगों की चिंता के लिए भी योजनाएं चलाई गईं। गरीब महिलाओं की रसोई में सिलिंडर पहुंचाए गए और किसानों की चिंता गई। पीएम नरेंद्र मोदी की पहली सरकार परफॉर्मिंग गवर्नमेंट रही है। 2014 से 2019 के दौरान...

Indian shares rise in early trade as countdown to budget begins

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Indian stock markets opened up on Friday, with investors awaiting details from the federal budget due later in the day, as Prime Minister Modi's government struggles with a sluggish economy and high rates of unemployment. Finance Minister Nirmala Sitharaman is scheduled to present the new government's first budget since winning a second term at 0530 GMT. She is expected to boost spending while allowing for the fiscal deficit target to rise. The broader NSE Nifty was up 0.26% at 11,976 as of 0350 GMT, while the benchmark BSE Sensex was trading 0.29% higher at 40,025.85. The 10-year benchmark government bond yield was at 6.8914%, compared to its last close of 6.8891%. The rupee weakened to 68.6075 from its 68.52 close on Thursday. The government on Thursday forecast that economic growth could get back up to 7% this year, but cautioned it will face challenges . "Market reaction to the Union Budget could result in volatile move across the board,...

Gold prices edge up ahead of U.S. jobs data, set for seventh weekly gain

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Gold prices inched up on Friday and were heading for their seventh consecutive weekly gain, with investors waiting for U.S. non-farm payrolls data later in the day for clues on the outlook for interest rate cuts. FUNDAMENTALS Spot gold was up 0.2% at $1,417.40 per ounce as of 0119 GMT. Prices touched $1,435.99 on Wednesday, the highest since June 25. The metal has risen 0.7% so far this week and is on track for its seventh consecutive weekly rise. U.S. gold futures were down 0.1% at $1,419.90 an ounce. All eyes are on U.S. non-farm payrolls, due later in the day, which are expected to have jumped by 160,000 in June compared with 75,000 in May. The U.S. Federal Reserve holds its two-day policy meeting on July 30-31 and futures are fully pricing in a 25-basis-point cut. The dollar index was relatively unchanged against a basket of major currencies on Friday. U.S. Treasury yields fell on Wednesday with 10-year yields hitting their lowest in over 2-1...

Gold gains on simmering U.S.-China spat

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Gold prices rose on Monday as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut. Spot gold edged up 0.2% to $1,286.89 per ounce as of 0129 GMT, rising for a third session in a row. U.S. gold futures also gained 0.2%, to $1,285.50 an ounce. "Gold has really reversed earlier losses as risk appetite in the market remains rather shaky," said Benjamin Lu, an analyst with Singapore-based Phillip Futures. "U.S. sanctions on Huawei and even the rest of the Chinese technology firms have really aggravated trade tensions." China on Friday denounced U.S. Secretary of State Mike Pompeo for fabricating rumours after he said the chief executive of China's Huawei Technologies Co Ltd was lying about his company's ties to the Beijing government. A string of weak data from the United States late last week stirred up concerns that it...

Gold firms as US-China trade impasse fuels safe-haven demand

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Gold prices steadied on Monday as trade talks between the United States and China hit a wall, raising doubts over whether the two countries would be able to reach a deal, thereby boosting demand for safe-haven assets. Gold prices steadied on Monday as trade talks between the United States and China hit a wall, raising doubts over whether the two countries would be able to reach a deal, thereby boosting demand for safe-haven assets. FUNDAMENTALS - Spot gold gained 0.1% to at $1,286.59 per ounce at 0113 GMT. - U.S. gold futures were steady at $1,287.90 an ounce. The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit" that harmed its interests. - Washington had already hiked tariffs on $200 billion worth of Chinese exports on Friday, while U.S. President Donald Trump further ordered his trade ch...

India rice rates extend slide; Vietnam eyes China, Egypt deals

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Rice export prices in top exporter India fell for a fifth consecutive week on low demand and domestic currency weakness, while traders in Vietnam looked for prospective deals from China and Egypt. India's 5 percent broken parboiled variety was quoted around $371-$374 per tonne this week, down from last week's $373-$376. "As prices are falling every week, buyers are delaying purchases expecting further drops," said an exporter based at Kakinada in the southern state of Andhra Pradesh. The aggressive selling of old inventories by China to African buyers was also weighing on prices, exporters said. Meanwhile, Bangladesh has postponed a decision on lifting its long-standing ban on rice exports until the completion of the summer rice harvest. Cyclone Fani partially damaged the harvest of the summer-sown crop, also known as Boro, on 55,600 hectares of land, Mir Nurul Alam, head of the country's Department of Agriculture Extension, told Reuter...

Gold eases on firm equities; markets brace for Fed decision

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Gold prices eased on Wednesday on overnight gains in U.S. equities, while a May Day lull gripped most of Asian markets ahead of a closely monitored Federal Reserve decision on the future trajectory of interest rates. Spot gold was down 0.2 percent at $1,280.24 per ounce, as of 0315 GMT. U.S. gold futures fell 0.3 percent to $1,281.60 an ounce. Having been weighed down earlier by slightly overcast findings from Chinese business surveys, global shares edged higher on Tuesday, after U.S. President Donald Trump agreed with Democratic leaders to spend $2 trillion on infrastructure. Investors also gained impetus from signs of bettering relations between the United States and China with White House chief of staff Mick Mulvaney stating that their trade dispute will likely be resolved "one way or the other" in the next two weeks. Given the strength in equity markets and economic data from far and wide, "there is no need for inflation hedges in the gold mar...

Oil pares gains as fears ease on Venezuelan exports

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Brent crude futures hit a session high of $73.27 per barrel and settled 76 cents, or 1.1 percent, higher at $72.80. Last week, Brent hit a six-month high above $75. Oil prices pared their gains on Tuesday, after global benchmark Brent crude rose above $73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Maduro would hit the country's crude exports. Prices rose after Venezuelan opposition leader Juan Guaido called for military backing to end Maduro's rule, but pared gains after the government said state-run oil company PDVSA's operations were not disrupted and top military leaders remained loyal. "The possibility that Guaido will take control of the situation isn't as strong as perceived this morning," said Bob Yawger, director of energy futures at Mizuho in New York. "If Maduro hangs on, you'll see the market stay lower." Brent crude futures hit a session high of $73.27 per ba...

Asia Gold: Demand sparkles in India ahead of festival, steady elsewhere

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Physical gold demand was healthy this week in India in the run up to a key festival and with the wedding season underway, while other top Asian hubs saw steady interest in bullion as global prices recovered from a 2019 low touched earlier this week. Gold is an essential part of weddings in India and is a popular gift during festivals. "Retail demand is good due to weddings. Even after a recent price rise, buyers are making purchases," said Chanda Venkatesh, managing director of CapsGold, a bullion merchant based in the southern city of Hyderabad. In India, dealers charged a premium of up to $2 an ounce over official domestic prices, down from last week's premium of $2.50, the highest in nearly five months. The domestic price includes a 10 percent import tax and 3 percent sales tax. "Supplies are limited in the market. Smuggling has come down significantly in last few weeks," said a Mumbai-based bullion dealer with a gold importing bank. ...

Gold firms on weak German data, strong dollar caps gains

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Gold prices edged up on Thursday as weak data from Germany and a dip in equities raised flags about the pace of global economic growth, while a firm dollar curbed further gains for the metal. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe's largest economy, leaving domestic demand to support slowing growth. Spot gold was up 0.1 percent at $1,276.19 per ounce, as of 0335 GMT. U.S. gold futures slipped 0.1 percent to $1,278 an ounce. Gold is often used as a hedge against economic and financial uncertainties. The bullion gained for a second straight session, after having dipped to its lowest level since end-December earlier this week. "Global growth data outside the U.S. have been actually quite poor, we haven't had anything to sink our teeth in," said Stephen Innes, head of trading and market strategy, SPI Asset Management. "We have al...