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Oil prices rose nearly 2% on Wednesday after a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand caused by the trade war between Washington and Beijing. Brent crude futures settled 98 cents, or 1.7%, higher at $60.49 a barrel. West Texas Intermediate crude ended at $55.78 a barrel, rising 85 cents, or 1.6%. U.S. crude oil inventories fell last week by 10 million barrels, compared with analysts' expectations for a decrease of 2.1 million barrels, as imports slowed, the Energy Information Administration said. "There's a lot of big numbers here, but it's all on the import number, which is pretty impressive," said Bob Yawger, director of energy futures at Mizuho in New York. Net U.S. crude imports fell by 1.51 million barrels per day to 2.9 million BPD, while imports in the Gulf Coast region dropped to their lowest on record at 1.2 million BPD. Over the past four weeks, crude oil imports averag...

The results did not meet analyst estimates. An analysts’ poll of Reuters estimated the net profit at Rs 492.9 crore and revenues at Rs.4461.6 crore. Shares of Cipla fell 3 percent intraday on August 8, a day after the pharma major reported muted numbers for the June quarter as revenues declined in India and South Africa, which account for nearly half of the company's sales. The company’s net profit grew 0.4 percent at Rs 447.2 crore in Q1FY20 against Rs 445.6 crore in the year-ago period. Revenue declined 1 percent to Rs 4,067.39 crore in Q1, compared to Rs 4,109.10 in June 2018. The results did not meet analyst estimates. An analysts’ poll of Reuters estimated the net profit at Rs 492.9 crore and revenues at Rs 4461.6 crore. The Indian business, which accounts for one-third of Cipla's sales, declined 12.2 percent year on year (YoY) to Rs 1,355 crore due to the realignment of distributors in the trade generics, a company report has said. Revenu...

Spot gold was mostly unchanged at $1,413.20 per ounce, as of 0306 GMT. Gold prices held steady on Tuesday as investors awaited U.S. retail sales data that could serve as an indicator of the strength of the world's largest economy amid lingering concerns over global economic slowdown. Spot gold was mostly unchanged at $1,413.20 per ounce, as of 0306 GMT. U.S. gold futures were up 0.1% at $1,414.90 an ounce. "Today we are sought of getting neutralised because we are heading into retail sales tonight. Investors are positioning realising there could be a knee-jerk reaction lower again if retail sales numbers come out strong," said Stephen Innes, managing partner, Vanguard Markets. However, "I don't think it (retail sales data) is going to make a huge difference in overall scheme of things as far as the Fed narrative goes," Innes added. The U.S. data, due later in the day, is expected to imply that retail sales had edged up 0.1% in...

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...

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India's annual coal demand rose 9.1% to 991.35 million tonnes during the year ended March 2019, India's Coal Minister Pralhad Joshi told the country's parliament on Monday. Coal is among the top five commodities imported by India, one of biggest importers of the fuel despite having the world's fifth largest reserves. Consumption by India's utilities, which accounted for three-fourths of the total demand, rose 6.6% to 760.66 million tonnes, Joshi said in a written response to a question in the upper house of the parliament. Imports rose to 235.24 million tonnes in 2018-19 from 208.27 million tonnes in 2017-18, Joshi said, adding that domestic supplies rose to 734.23 million tonnes during the year ended March 2019. India's supply shortfall more than doubled to 23.35 million tonnes, mainly because of state-run Coal India's inability to cater to demand from the cement and sponge iron industries. Demand from the cement sector rose 70% ...

Oil prices fell more than 1% on Wednesday, weighed down by a weaker oil demand outlook and a rise in U.S. crude inventories despite growing expectations of ongoing OPEC-led supply cuts. Brent crude futures, the international benchmark for oil prices, were down 87 cents, or 1.4%, at $61.42 a barrel by 0231 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 85 cents, or 1.6%, at $52.41 per barrel. The U.S. Energy Information Administration (EIA) cut its forecasts for 2019 world oil demand growth and U.S. crude oil production in a monthly report released on Tuesday. The EIA lowered its 2019 world oil demand growth forecast by 160,000 barrels per day (bpd) to 1.22 million bpd and wound back its forecast for 2019 U.S. crude production to 12.32 million bpd, 140,000 bpd less than the May forecast. A surprise increase in U.S. crude stockpiles also kept oil prices under pressure. "Investors have been concerned about the recent rise in stoc...

Gold prices rose on Friday, heading towards their first monthly gain since January on increased safe-haven demand, after U.S. President Donald Trump vowed to levy tariffs on all Mexican imports, ratcheting up concerns of a global economic slowdown. The new threat of tariffs on Mexico, coupled with a string of soggy economic data from the United States this month and the long-drawn Sino-U.S. trade war, also translated into increased bets that the U.S. Federal Reserve could cut interest rates this year. Spot gold was up 0.2% at $1,290.68 per ounce at 0322 GMT. It has risen about 0.6% so far this month. The metal is also on track for a second consecutive weekly gain, up about 0.4% over the week. U.S. gold futures rose 0.3% to $1,290.50 an ounce. An infuriated Trump on Thursday vowed to impose a tariff on all goods coming from Mexico starting at 5% and ratcheting higher until the flow of illegal immigrants into the United States ceases. Asian shares and sove...

Front-month Brent crude futures, the international benchmark for oil prices, were at $70.14 at 0218 GMT, 3 cents above the last session's close, when Brent rose 2.1%. Brent crude oil prices consolidated above $70 per barrel on Tuesday as supply cuts led by producer club OPEC and U.S. sanctions on Iran's and Venezuela's fuel exports outweighed concerns about an economic slowdown. Front-month Brent crude futures, the international benchmark for oil prices, were at $70.14 at 0218 GMT, 3 cents above the last session's close, when Brent rose 2.1%. U.S. West Texas Intermediate (WTI) crude futures were at $59.21 per barrel, up 58 cents or 1% from their last close on Friday. WTI did not trade on Monday due to a public holiday in the United States. Prices have been supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) since the start of the year. OPEC and some allies including Russia are due to meet on June 25 ...

Gold prices rose to their highest in more than a week on Wednesday as renewed worries over U.S.-China trade dispute and its potential impact on global growth dented risk sentiment, stoking investors towards safe-haven assets. Spot gold was up 0.1 percent at $1,285.56 per ounce, as of 0305 GMT, after hitting their highest since April 26 at $1,287.08 U.S. gold futures edged 0.1 percent higher to $1,287 an ounce. "Gold is being supported by risk-aversion buying at the moment. But, there is no change in the underlying momentum in overall sentiment, which seems to be soft," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA. MSCI's broadest index of Asia-Pacific shares outside Japan to its lowest level since late March, tracking Wall Street's slide. U.S. President Donald Trump tweeted on Sunday he would raise tariffs on $200 billion worth of Chinese goods, while Washington accused Beijing of backtracking from commitments made during...

Spot gold was down 0.3 percent at $1,268.84 per ounce by 0328 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. Gold prices fell on Wednesday to hover around a four-month low touched in the previous session, as share markets rose and the dollar gained after strong U.S. housing data dampened concerns about an economic slowdown in the country. Spot gold was down 0.3 percent at $1,268.84 per ounce by 0328 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. U.S. gold futures were 0.2-percent lower at $1,270.70 an ounce. "The major factor that is pressuring gold prices is the strength of the dollar, which is also pressuring physical demand," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. The dollar index hovered near a 22-month peak after data showed that sales of new single-family homes in the United States rose to a near 1-1/2-year high in March. ...

Gold fell to its lowest in more than a week on Monday as hopes the United States and China would reach a trade deal lifted appetite for riskier asset even as the dollar retreated. Spot gold was down 0.2 percent at $1,287.61 per ounce at 1:45 p.m. EDT (1745 GMT), off a low of $1,281.96, its lowest since April 4. U.S. gold futures settled down 0.3 percent at $1,291.30 an ounce. U.S. Treasury Secretary Steven Mnuchin said on Saturday he hoped Washington and Beijing were "close to the final round" of negotiations to resolve the trade dispute between the world's two biggest economics. Signs the two countries were heading for a deal to end the bitter dispute - marked by tit-for-tat tariffs that have cost the two economies billions and rattled financial markets - lifted investor sentiment and dented demand safe-haven gold. "Overall, people are not enchanted by gold, they don't see a lot of upside potential in it," said Miguel Perez-Santalla,...

Spot gold was flat at $1,286.85 per ounce by 0332 GMT, after touching its lowest since March 8 at $1,285.80 earlier in the session. Gold prices slipped to a more than three-week low on Tuesday as waning global economic slowdown concerns lifted the dollar and equity markets. Spot gold was flat at $1,286.85 per ounce by 0332 GMT, after touching its lowest since March 8 at $1,285.80 earlier in the session. U.S. gold futures were down about 0.2 percent at $1,291.30 an ounce. "Concerns we saw emerge in the past few weeks around economic growth has certainly eased and that shift (in sentiment) in the past day or two resulted in a little bit of selling in the gold market," ANZ analyst Daniel Hynes said. "Most of the global growth is coming from China and the (Chinese) data over the weekend eased those concerns." Strong manufacturing data from the United States and China triggered a massive sell-off in the U.S. bond market, which in-turn li...

Gold edged lower on Tuesday as appetite for risk improved after the European Commission agreed to additional assurances in an updated Brexit deal, while stronger than expected U.S. data eased some fears about an economic slowdown. FUNDAMENTALS As of 0104 GMT, spot gold was down 0.1 percent at $1,293.17 per ounce. U.S. gold futures were up 0.1 percent at $1,292.90 an ounce. Asian shares rose after the European Commission agreed to changes to the Brexit deal ahead of a vote in the British parliament on a divorce agreement. Prime Minister Theresa May won legally binding Brexit assurances from the European Union on Monday in a last-ditch attempt to sway rebellious British lawmakers who have threatened to vote down the deal again. Senior pro-Brexit members of Prime Minister Theresa May's Conservative Party believe she has "some kind of" Brexit deal to put to parliament on Tuesday, the BBC's political editor, Laura Kuenssberg, said. The dol...

Today, USD-INR pair is expected to quote in the range of 69.80 and 70.50, says Motilal Oswal. The Indian rupee has extended morning gains and trading near to the day's high level at 69.89 per dollar. It opened higher at 70.01 per dollar versus previous close 70.15. The rupee rose closed on a flat note against the US dollar ahead of the important non-farm payrolls number that was released on Friday. In the last few sessions rupee rose primarily on the back of fund inflows, said Motilal Oswal. FIIs in this year until now have poured in funds worth USD 1.2 billion in equity and debt segment thereby keeping the currency supported on lower levels. This week, market participants will be keeping an eye on inflation and industrial production number; the expectation is that both inflation and IIP could disappoint and could restrict major appreciation for the rupee. Today, USD-INR pair is expected to quote in the range of 69.80 and 70.50, it added. Best Share ...

Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth. International Brent futures were at $65.36 a barrel at 0446 GMT, up 29 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.07 per barrel, up 27 cents, or 0.5 percent. The rally followed reports that the United States and China are close to ending their bitter year-long trade dispute. The two countries appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday in Washington. Hopes of an end to the trade spat between the two world's biggest economies added support to a market that has been rallying for the...

Crude oil trading range for the day is 3932-4176. Crude oil gained after crude inventories unexpectedly plummeted and as Saudi Arabia brushed aside comments from President Trump seeking to keep oil prices from climbing. U.S. crude stockpiles fell 8.6 million barrels last week, in contrast to expectations for an increase of 2.8 million barrels, government data showed. U.S. crude oil inventories fell by 4.2 million barrels in the week to Feb. 22, to 444.3 million barrels, the API estimated in a weekly report. In December, OPEC and others, led by Russia, agreed to collectively cut production by a total of 1.2 Mbps during the first six months of 2019. Best Share Market News, Click Here To Get More News - MCX Tips, for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Buy Turmeric Apr Abv 6150 SL BELOW 6100 TGT 6220-6280. NCDEX Turmeric trading range for the day is 6086-6218. Turmeric gained on the back of concerns that drought conditions and cold weather will affect crop production. However, upside seen limited on higher supplies prospects from new season crop limiting the downside. There is an expectation of higher production this season due to higher acreage in Telangana. In Nizamabad, a major spot market in AP, the price ended at 6292.5 Rupees dropped -43.2 Rupees. BUY TURMERIC APR ABV 6150 SL BELOW 6100 TGT 6220-6280. NCDEX. Best Share Market News, Click Here To Get More News - NCDEX Tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.