BULLION - Bullion counter may remain on sideways path amid lot of volatility. Gold prices inched up on Wednesday as markets eyed ongoing political and trade turbulence, even as a U.S. decision to delay tariffs on some Chinese goods boosted risk appetite. On Tuesday, U.S. President Donald Trump backed off his Sept. 1 deadline for 10% tariffs on some Chinese imports, boosting equity markets . Protests in Hong Kong, uncertainty about Brexit, and the sustained Sino-U.S. trade war still trouble markets. Investors are focused on the Federal Reserve's annual symposium next week. Traders see a 91.2% chance of a 25 basis-point rate cut by the Fed this September. The 10-year U.S. Treasury note climbed 6 basis points overnight, pushing away from a three year low touched a week ago.

ENERGY- Crude oil may trade with negative path as oil prices fell on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the last session that were stoked after Washington said it would delay tariffs on some Chinese goods. The move by U.S. President Donald Trump sent commodities, stocks and other assets higher because of optimism the effects of the trade war, already being felt in economies across the world, will be blunted. Oil prices surged by as much as nearly 5 percent. China's July crude oil throughput rose 4% from a year earlier, official data showed on Wednesday, buoyed by improved refinery profit-margins and as new plants started production. Markets had been pummelled in recent weeks amid tough talk from Trump on trade and they remain on tenterhooks due to the unpredictably of the U.S. president. U.S. natural gas futures rose on Tuesday on forecasts for greater heat and cooling demand next week than previously expected despite an increase in output to a record high.

BASE METAL - Base metals may trade on sideways path. China reported a raft of unexpectedly weak July data on Wednesday, including a surprise drop in industrial output growth to a more than 17-year low, underlining widening economic cracks as the trade war with the United States intensifies. London copper fell on Wednesday, as copper exports from some of Peru's top mines resumed after weeks of protests that soothed supply concerns. Copper exports from Peru's port of Matarani have resumed after anti-mining protests that had blocked key infrastructure in the country's southern copper belt eased over the weekend, a spokeswoman for the port operator said. The London Metal Exchange (LME) lead market was roiled in early June by news of an unplanned outage at the Port Pirie lead smelter in Australia. It's just been upended again by a second shutdown of the plant, which is operated by Nyrstar, the Belgian company that had to be rescued from potential insolvency by trade house Trafigura. Indonesia's President Joko Widodo will make the final decision on whether the country brings forward an export ban on mineral ore that is currently due to come into force in 2022, the minister in charge of mining said on Tuesday.

 

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BULLION - Bullion counter may remain on firm path as gold prices edged up on Wednesday as the ongoing trade tensions between the United States and China continued to boost the appeal of safe-haven assets. Gold prices rose again on Thursday after topping the $1,500 mark in the previous session, as central banks around the world slashed interest rates amidst fears of a global recession. Spot gold rose 0.3% to $1,505 per ounce as of 0104 GMT. On Wednesday, gold soared over 2% to break the $1,500 barrier for the first time in over six years. U.S. gold futures were down 0.3% at $1,515.30 an ounce. Chicago Fed President Charles Evans signaled on Wednesday he was open to lowering rates to bolster inflation and to counter risks to economic growth. U.S. 10-year Treasury yields dropped further below three-month rates, an inversion that has reliably predicted recessions in the past. Central banks in New Zealand, India and Thailand surprised markets with aggressive easing on Wednesday. The Philippines central bank is expected to cut later today.

ENERGY- Oil futures jumped more than $1 a barrel on Thursday amid a weaker dollar, recovering ground after concerns that a global economic slowdown would hurt crude demand sparked losses of over 4% in the previous session. Brent crude had rebounded to $57.52 a barrel, up $1.29, or 2.29%, from its last close by 0032 GMT, while U.S. crude futures jumped $1.30, or 2.54%, to $52.39 a barrel. Both contracts hit their lowest levels since January on Wednesday after a surprise build in U.S. crude inventories added to worries that the brewing Sino-U.S. trade war could further dampen demand-growth this year. Bloomberg News reported the Saudis have decided the market slump is intolerable and all options are on the table. Trade war rhetoric will continue to guide markets, but the comments from Saudi Arabia could lead to unprecedented action to stabilise prices.. U.S. natural gas futures for Wednesday slipped close to a 38-month low with a 5% drop in crude prices and forecasts for less gas demand next week than previously expected. With less hot weather expected through late August, Refinitiv forecast demand in the Lower 48 states would slide to 89.8 bcfd next week from 91.7 bcfd this week as power generators burn less gas to keep air conditioners running.

BASE METAL - Base metals may trade on sideways to weaker path. Markets fear an escalation in the trade war could negatively affect metals demand China, the world's second largest economy. U.S. President Donald Trump on Wednesday said his tough stance on China's economic and trade policies would ultimately benefit the American economy, even as Beijing signaled it could strike back by curbing sales of chemicals known as rare earths that are used in everything from iPhones to military equipment. China consumes nearly half of all industrial metals. Coppers three-month price was weaker over the afternoon, falling to an intraday low of $5,665 per tonne, before closing at $5,705 per tonne. On the international market, zincs three-month price settled at $2,261 per tonne on Wednesday, its lowest price since October 2016. Nickels three-month price on the London Metal Exchange rallied by around 3% after the close of trading on Wednesday August 7, reaching a year-to-date high of $15,500 per tonne in what market participants labelled a broadly technical move. 

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BULLION - Gold (Oct) can test 35020 while taking resistance near 35510 and silver (Sep) can dip lower towards 40500 and resistance near 41300. The price of gold shot up from about 34040 to around 35630 as investor flocked into gold as yields plummeted following the increase in tariffs between the US and China. Trump said he would impose an additional 10% tariff on $300 billion worth of Chinese imports on Sept. 1 after U.S. negotiators returned from trade talks in Shanghai, saying China had failed to buy large quantities of U.S. agricultural products as promised. Trump also said if trade negotiations fail to progress he could raise tariffs further - even beyond the 25% levy he has already imposed on $250 billion of imports from China. The tariffs may also force the Federal Reserve to again cut interest rates to protect the U.S. economy from trade-policy risk. The October Fed funds rate futures FFV9 have jumped to now fully price in a rate cut in September, compared with only around 60% before the tariff announcement. Another 25 basis point move is priced in by December.

ENERGY- Crude oil may move towards 3650 while taking resistance near 3820. steadying after an overnight plunge following U.S. President Donald Trump’s move to impose more tariffs on Chinese imports, intensifying a trade war that has hit global growth. Brent crude slumped more than 7% on Thursday, its steepest drop in more than three years. U.S. crude fell nearly 8%, posting its worst day in more than four years, The collapse ended a fragile rally built on steady drawdown’s in U.S. inventories, even as global demand looked shaky due to the trade dispute between the world’s two biggest economies. Total U.S. oil demand in May fell 98,000 bpd to 20.26 million bpd, data showed earlier this week. OPEC and partners including Russia, an alliance known as OPEC+, have been curbing output this year to support the market. In July, OPEC production revisited a 2011 low, helped by a further cut by Saudi Arabia. Natural gas can recover towards 158 while taking support near 149. Despite the rally on Wednesday, the hotter trends in the overnight data are still not hot enough to impress and suggests there is still a bearish bias in the market. The rally we say yesterday was probably driven by short-covering due to the slight change in the weather pattern and grossly oversold technical indicators.

BASE METAL - Copper may test 436 while taking resistance near 445. Copper hitting its lowest in over three weeks after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month. The reactivation of a smelter belonging to Chile’s state-run Codelco, the world’s top copper producer, will be further delayed until the end of October this year after missing a previous target of April. Copper contract on the Shanghai Futures Exchange dipped 0.6%, aluminium eased 0.2%. Three-month LME copper touched its lowest since July 10 at $5,876 a tonne before paring losses to $5,899, a decline of 0.5%.Zinc and lead dropped 0.8% each. However, nickel rose 1.2% and tin was almost unchanged. Zinc can test 187 while taking resistance near 192. Lead may test 149 while taking resistance near 154. Nickel may rise towards 1040 while taking support near 990. company PT Aneka Tam bang’s nickel ore output in Jan-Jun rose 27% on year to 4.79 mln tn. Aluminum may test 135 while taking resistance near 140.

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BULLION - Bullion counter may trade on negative path as gold prices slipped to a two-week low on Thursday after the U.S. Federal Reserve delivered a 25-basis-point rate cut as expected but ruled out a lengthy easing cycle, sending the dollar to a two-year peak. Policymakers moved the U.S. central bank's benchmark overnight lending rate to a target range of 2.00% to 2.25%, citing concerns about the global economy and muted U.S. inflation. However, Fed Chair Jerome Powell, speaking in a news conference after the release of the central bank's statement, characterized Wednesday's rate cut as "a mid-cycle adjustment to policy", a sign to markets that further sharp cuts were not imminent. U.S. Treasuries reacted to Powell's remarks by flattening the yield curve as the front-end of the market scaled back on prior expectations for at least a 100 basis points of easing in the near-term. U.S. and Chinese negotiators ended a brief round of trade talks on Wednesday with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world's two largest economies. The U.S. Mint sold 5,500 ounces of American Eagle gold coins in July, up 10% from the previous month, according to the latest data.

ENERGY- Crude oil may trade on negative path as oil prices fell more than $1 on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of rate cuts and Sino-U.S. trade talks ended without progress. The drop came despite a bigger-than-expected decline in inventories in the U.S. and a drop in crude production among OPEC members, along with Libya cutting exports, typically bullish drivers for the market. Meanwhile, U.S. crude oil stockpiles fell for the seventh straight week, declining to their lowest levels since November even as production rebounded and net imports increased, the Energy Information Administration said on Wednesday. Crude inventories fell 8.5 million barrels in the week ended July 26, far exceeding analysts expectations for a decrease of 2.6 million barrels. Libyas state-owned National Oil Corp declared force majeure on loadings of crude from the countrys largest oil field on Wednesday. U.S. natural gas futures rose 4.5% on Wednesday, recovering from a three-year low touched the previous day as investors covered short positions..

BASE METAL - Base metals may trade on sideways to weaker path. Pressure on China's factories eased a little in July due to growth-boosting steps from the government, but overall manufacturing activity remained in contraction, a private survey showed on Thursday. London copper prices slipped to a three-week low on Thursday after Federal Reserve Chairman Jerome Powell said the U.S. central bank's first rate cut since 2008 was not the start of a long easing cycle, while Sino-U.S. trade talks appeared to have made little progress. U.S. and Chinese negotiators ended a round of trade talks with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world's top two economies. A Chinese billionaire has been indicted by a grand jury on charges he schemed with the aluminum company he founded to evade $1.8 billion of tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said on Wednesday.

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BULLION - Bullion counter may trade on weaker path as gold prices fell in early Asian trade on Tuesday as the dollar rose to a near one-week high on expectation of a smaller interest rate cut by the U.S. Federal Reserve at the end of this month. The U.S. central bank is widely expected to lower its interest rate target range of 2.25%-2.50% by 25 basis points at a meeting ending July 31, but expectations for a larger 50-basis point cut have waxed and waned due to mixed signals from Fed policymakers. The global march towards lower interest rates reaches Europe this week with the European Central Bank expected at least to signal easier monetary policy. Expectations of policy easing by major central banks such as the Fed propped up global stocks on Tuesday. Meanwhile, Sterling was on the back foot on Tuesday as investors worried Boris Johnson, the front runner to become the UK's next prime minister, would trigger a "hard Brexit" from the European Union. 

ENERGY- Crude oil may trade on mixed path as oil prices inched lower on Tuesday as the International Energy Agency (IEA) said it would act quickly if needed to keep the market supplied amid tensions in the Middle East and traders eyed a weaker demand outlook. The International Energy Agency (IEA) said it was closely monitoring developments in the Strait of Hormuz. Consumers can be reassured that the oil market is currently well supplied, with oil production exceeding demand in the first half of 2019, pushing up global stocks by 900,000 barrels per day, the IEA said in a statement. The potential for disruption in the Middle East has come amid a more fundamental souring of market sentiment in recent days, with hedge funds, producers and traders all taking a more bearish tack in response to what they see as weakness in worldwide demand. The Organization of the Petroleum Exporting Countries (OPEC) and some non-affiliated producers including Russia, known collectively as OPEC+, have withheld supplies since the start of the year to prop up prices. U.S. natural gas futures gained almost 3% on Monday as forecasts for hotter weather and higher cooling demand next week lifted prices from two-week lows hit last week.

BASE METAL - Base metals may trade with upside path. Most base metals rose on the LME, but lost ground on the Shanghai Futures Exchange as investors eyed monetary policies from major central banks, including a highly expected policy easing by the U.S. Federal Reserve. Expectations of policy easing by major central banks such as the Federal Reserve propped up global stocks. The global world refined copper market showed a 96,000 tonnes deficit in April, compared with a 42,000 tonnes deficit in March, the International Copper Study Group said in its latest monthly bulletin. London nickel prices rebounded on Tuesday after two sessions of declines, hovering around a one-year peak, while the base metals complex was broadly higher. Global primary aluminum output fell to 5.246 million tonnes in June from revised 5.406 million tonnes in May, data from the International Aluminium Institute showed on Monday.

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BULLION - Bullion counter may trade on the weaker bias on stronger local currency rupee amid expectation of clear majority to the present government in the exit polls. Gold steadied on Monday after four days of falls, as a Sino-U.S. trade dispute aggravated by a Huawei ban and U.S. President Donald Trump'ss latest threat to Tehran fuelled interest in the safe-haven metal. Gold fell to a two-week low of $1,274.51 an ounce on Friday after data showed U.S. consumer sentiment jumped to a 15-year high in early May amid growing confidence over the economy's outlook. U.S. President Donald Trump issued a new threat to Tehran on Sunday, tweeting that a conflict would be the official end of Iran, as Saudi Arabia warned it stood ready to respond with all strength's and said it was up to Iran to avoid war. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.4% to 736.17 tonnes on Friday from 733.23 tonnes on Thursday. Hedge funds and money managers raised their net long positions in COMEX gold in the week to May 14, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

ENERGY- Crude oil may trade with an upside bias as oil prices jumped as much as 1 percent on Monday after Saudi Energy Minister Khalid alFalih indicated there was a consensus among OPEC and allied oil producers to continue limiting supplies. The rally came after Falih said on Sunday there was a consensus among Organization of the Petroleum Exporting Countries and other non-OPEC producers to drive down crude inventories gently's '', but his country would remain responsive to the needs of what he called a fragile market. OPEC, Russia and other non-member producers, an alliance known as OPEC+, agreed to reduce output by 1.2 million barrels per day from Jan. 1 for six months, a deal designed to stop inventories building up and prices weakening. U.S. West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, up 63 cents, or 1%, from their previous settlement. 

BASE METAL - Base metals may remain with a weak bias on the stronger rupee. Benchmark copper on the London Metal Exchange rose in early Asian trading on Monday after last week's slump, but Shanghai industrial metals edged down as investors remained wary about the intensifying U.S.-China trade war. Beijing has called on Washington to show "sincerity" if it is to hold meaningful trade talks, after the United States put China's Huawei Technologies Co Ltd [RIC:RIC: HWT.UL], the world's biggest telecoms equipment maker, on a trade blacklist. Zambia, Africa's second-biggest copper producer, is introducing a new non-refundable sales tax in place of value-added tax, despite criticism from mining companies. The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American trade pact.

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BULLION - Bullion counter may witness some profit booking at higher levels as investors will eye the outcome of FOMC meeting minutes later today. Gold on Wednesday traded near a two-week high hit in the previous session, as investors worried about the trade tensions between the United States and Europe, and as the International Monetary Fund cut its global growth outlook. The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2019 and warned growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union. European Union leaders will grant British Prime Minister Theresa May a second delay to Brexit but they could demand she accepts a much longer extension as France pushed for conditions to limit Britain ability to undermine the bloc. Venezuela removed eight tonnes of gold from the central bank vaults last week, and the cash-strapped socialist state is expected to sell the bullion abroad as it seeks to raise hard currency in the face of U.S. sanctions, a lawmaker and one government source said.

ENERGY- Crude oil may remain with upside bias as oil prices edged back towards five-month highs on Wednesday, supported by ongoing supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela. Oil markets have been tightened this year by U.S. sanctions on oil exporters Iran and Venezuela, as well as supply cuts by the producer club of the Organization of the Petroleum Exporting Countries (OPEC) and some non-affiliated producers, a group known as OPEC+. Venezuelan oil output is estimated to have fallen from 1.19 million bpd in October to 890,000 bpd in March, while output from Iran has fallen from 3.33 million bpd to 2.71 million bpd due to sanctions. Declines from these two exempt countries account for almost 47 percent of the reduction seen from OPEC. Oil production in the United States has risen by more than 2 million barrels per day since early 2018, to a record 12.2 million bpd. U.S. dry natural gas production will rise to an all-time high of 91.00 billion cubic feet per day (bcfd) in 2019 from a record high of 83.39 bcfd in 2018, according to the Energy Information Administration's Short Term Energy Outlook (STEO) on Tuesday. 

BASE METAL - Base metals prices may trade with negative bias .Copper fell on Wednesday after the International Monetary Fund cut its global growth forecast and the United States threatened to slap tariffs on hundreds of European goods. The International Monetary Fund (IMF) cut its forecast for world economic growth this year to 3.3 percent from 3.5 percent previously, citing the U.S.-China trade war and a potentially disorderly British exit from the European Union. An indigenous community in Peru voted to suspend its two-month road blockade of MMG Ltd Las Bambas copper mine for two days until the government visits the region on Thursday. 

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BULLION - Bullion counter may trade sideways to negative path. Gold prices inched down on Monday as Gold inched up on Tuesday, but was trading near a more than three-week low touched in the previous session as the U.S. dollar strengthened and equities rose. The dollar was up 0.1 percent against key rivals, trading close to a three-week high posted in the previous session as ebbing concerns about the global economy pushed U.S. bond yields up from 15-month lows. U.S. manufacturing activity rebounded a bit more than expected in March, according to an industry report released on Monday, as production, new orders and hiring all picked up. U.S. retail sales unexpectedly fell in February, but a rebound in factory activity in March and strong increase in construction spending offered hope the economy was not slowing as sharply as previously feared. China raised its gold holdings by 9.95 tonnes in February, according to data from the International Monetary Fund. The Perth Mint said on Monday its gold products sales in March surged about 68 percent from the previous month, touching the highest level since November last year.

ENERGY- Crude oil may trade on positive note as oil prices rose to fresh highs for the year on Tuesday, after a U.S. official said Washington is considering more sanctions on Iran and key Venezuelan export terminal halted operations. OPEC oil supply sank to a four-year low in March and positive data from the world biggest economies, the United States and China. The U.S. government is considering additional sanctions against Iran that would target areas of its economy that have not been hit before, a senior Trump administration official told reporters on Monday. The official also suggested that the U.S. may not extend waivers from sanctions on Iranian oil exports to a group of eight importers that expire next month. Venezuela Jose crude export terminal has halted operations due to a lack of electricity supply, two sources with knowledge of the situation said, after restarting on Friday following a prolonged blackout. Production cuts from the Organization of the Petroleum Exporting Countries (OPEC) helped push the group supply to a four-year low in March

BASE METAL - Base metals prices may trade sideways path. Copper and most other base metals fell on Tuesday as the U.S. dollar edged higher and as supply concerns from a copper mine in Peru eased slightly. The Peruvian government offered a deal to indigenous protesters to lift their blockade at the Las Bambas copper mine owned by China MMG Ltd, but a decision is pending agreement among the indigenous community. Indigenous protesters have blocked roads to the mine since early February, demanding compensation from MMG for using a stretch of road on their farmland. Las Bambas produces about 2 percent of global copper output. Russian aluminium giant Rusal has resumed supplies to the U.S. market and aims to win back customers it lost due to sanctions by about September when the industry seals supply contracts for 2020.

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BULLION - Bullion counter may trade with volatile path. Gold and silver prices are modestly down amid mild profit-taking pressure from recent gains and a firmer U.S. dollar index on this day helped to pressure the precious metals markets. Gold investors should pay more attention to what the Federal Reserve is actually doing instead of listening to comments from a Federal Reserve governor nominee, according to two market professionals. Stephen Moore, President Donald Trump nominee for the U.S. Central Bank, is raising eyebrows after he said, in an interview with the New York Times Tuesday, that the Federal Reserve should immediately cut interest rates by 50 basis points. The comments come as a surprise to markets which are still digesting last week monetary policy meeting that saw the U.S. central bank signal that it does not expect to raise interest rates this year and downgraded its economic growth forecasts.

ENERGY- Crude oil may trade on negative note as oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in U.S. stocks. Prices came under pressure from a rise in U.S. inventories, athough analysts pointed to support from efforts by the Organization of the Petroleum Exporting Countries (OPEC) and nonaffiliated allies like Russia, known as OPEC+, to trim output. Prices came under pressure from a rise in U.S. inventories, athough analysts pointed to support from efforts by the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, known as OPEC+, to trim output. U.S. utilities likely withdrew 40 billion cubic feet (bcf) of natural gas from storage last week amid typical temperatures for the period.

BASE METAL - Base metals prices may trade sideways to negative path. London copper prices edged lower in early Asian trade on Thursday as the dollar strengthened, while investors awaited news from U.S.-China trade talks restarting in Beijing. The 10-member China Smelters Purchase Team (CSPT) will meet in Shanghai on Thursday to determine floor treatment and refining charges (TC/RCs) for copper concentrate in the second quarter. The dollar rose on Thursday as many of its peers weakened after more central banks opted to shift to a dovish policy stance in the wake of deteriorating economic prospects. Indonesia's nickel-related industries such as the production of stainless steel and battery materials are set to surpass the value of its second-biggest export earner, palm oil, in the next 10 to 15 years, its investment board chief said on Wednesday. Aluminium touched a one-week high on Wednesday as inventories fell and prices shrugged off another step towards a full restart of Norsk Hydro Brazil alumina operations.

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BULLION - Bullion counter may trade with positive bias. Gold prices firmed on Monday as concerns about a potential U.S. recession and decelerating global growth weighed on stock markets, which increased appetite for safer assets. Investors dumped shares on Monday and fled to the safety of bonds, while the Japanese yen hovered near a six-week high as risk assets fell out of favour on growing worries about an impending U.S. recession, sending global yields plunging. U.S. markets received a clear warning of coming recession on Friday when the spread between yields on three-month Treasury bills and 10-year notes fell below zero for the first time since 2007 after U.S. manufacturing data missed estimates. U.S. manufacturing activity unexpectedly cooled in March, a troubling sign for the economy although the housing market showed signs lower interest rates were giving it a boost.

ENERGY- Crude oil may trade on negative note as oil prices kicked off the week trading with losses as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC production cutbacks and U.S. sanctions on Iran and Venezuela. The Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies such as Russia, together referred to as OPEC, have pledged to withhold around 1.2 million barrels per day (bpd) of oil supply this year to prop up markets, with OPEC de-facto leader seen to be pushing for a crude prices of over $70 per barrel. The darkening economic outlook overshadowed the supply-side issues the oil market was facing amid supply cuts led by producer club OPEC as well as the U.S. sanctions on Venezuela and Iran.

BASE METAL - Base metals prices may trade sideways path. Most base metals moved lower in early Asian trade on Monday, as investors worried about the prospect of a recession in the United States, the world's biggest economy. Copper stockpiles in ShFE warehouses fell slightly to 259,172 tonnes last week after a rapid build during a seasonal lull in demand. Chile's Antofagasta expects to reach an agreement with miner BHP to help ensure water supply at its Zalidvar copper mine in the country's northern desert, a company official told a Chilean newspaper on Friday. China Hongqiao Group said on Friday that a doubling of alumina sales helped offset lower aluminium production and prices, leaving its net profit steady in the second half of 2018. China reverted to being a net importer of alumina in February for the first month since April 2018, while its scrap metal imports plunged to just 160,000 tonnes, the lowest in customs website records going back to June 2014. Scrap copper imports stood at 60,000 tonnes.

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DAILY NIFTY SMART MOVERS 

SCRIPTS PRICE VOLUME (IN 000�S) PRE. CLOSE CHANGE (%) CHANGE (Rs.)

Edelweiss Financial 197.20 835.37 187.45 5.20 9.75

PNB 90.50 6837.29 86.55 4.56 3.95

Bank Of Baroda 124.30 1644.15 120.40 3.24 3.90

Bharti Infratel 326.90 150232.30 317.90 2.83 9.00

Federal Bank 93.70 809.65 91.35 2.57 2.35

DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE VOLUME (000�S) PRE. CLOSE CHANGE (%) CHANGE (Rs.)

Mah & Mah Finl. Serv 417.00 144.96 429.15 -2.83 -12.15

Eicher Motors 21704.00 83.22 22271.90 -2.55 -567.90

TVS Motor 478.25 149.05 489.75 -2.35 -11.50

JSW Steel 288.25 424.04 295.10 -2.32 -6.85

Hero MotoCorp 2615.40 59.10 2671.50 -2.10 -56.10

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Market Update (Bullions)

Bullion counter may trade sideways to negative path as gold held steady on Thursday, supported by concerns over global growth as well as tepid equity markets, while a firm dollar curbed gains ahead of European Central Bank’s policy meeting due later in the day. The Organisation for Economic Co-Operation & Development cut forecasts again for the global economy in 2019 and 2020 as it warned that trade disputes and uncertainty over Brexit would hit world commerce and businesses. Gold can dip lower towards 31800 while it can face resistance near 32200. Silver can test 38000 while facing resistance near 38400. U.S. President Donald Trump said on Wednesday that trade talks with China were moving along well and predicted either a “good deal” or no deal between the world’s two largest economies. Trump also said he would be very disappointed in North Korean leader Kim Jong Un if reports about rebuilding at a rocket launch site in North Korea were true

Market Update (Base Metals)

Base metals prices may trade with sideways to weak bias. Copper may test 450 while facing resistance near 460 in MCX. Chilean state-run miner Codelco will continue to develop its lithium assets, including committing $57 million for further exploration, Chile's mining minister told Reuters, even as progress has stagnated at its flagship projects. The premium of cash LME copper over the three-month contract stood at $31.50 a tonne on Wednesday, less than half the previous day's $70 a tonne in a sign of easing supply tightness. Zinc can test 195 while facing resistance near 198. Lead can dip further towards 146. Nickel can also test 935 while facing resistance near 960. Aluminum prices may trade in range of 143-145. Shanghai aluminium fell for the third straight day on Thursday to a near three-week low, due to rising inventories and Chinese demand concerns. China, the world's biggest consumer and producer of the metal, will report its February aluminium export figure on Friday. Shipments surged to a record high of 552,000 tonnes in January. Russia's Rusal, the world's largest aluminium producer outside China, said global aluminium demand is expected to rise by 3.7 percent in 2019 to 68 million tonnes as it posted a fourth-quarter adjusted net loss of $17 million.

Market Update (Energy)

Crude oil may open on positive note as oil edged up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, although prices were prevented from rising further by record U.S. crude output and rising commercial fuel inventories. Prices are being supported by efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and other countries - a grouping known as ‘OPEC+’ - to withhold around 1.2 million barrels per day (bpd), a strategy designed to tighten markets. U.S. sanctions against the oil industries of OPEC members Iran and Venezuela have also had an impact, traders said. Venezuela’s state-run oil firm PDVSA this week declared a maritime emergency, citing trouble accessing tankers and personnel to export its oil amid the sanctions. Crude oil can test 4000 while taking support near 3930. U.S. crude oil stockpiles rose much more than expected last week, with inventories up by 7.1 million barrels to 452.93 million barrels EIA, according to a weekly report by the U.S. Energy Information Administration (EIA) on Wednesday. Natural gas may test 205 while taking support near 198 in MCX.

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Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

For more details call on 9977499927 or visit our website www.capitalstars.com