Commodity Market News-24 Dec 2014

Bullions:

Gold
Gold was little changed on Tuesday, paring earlier gains after strong U.S. growth data lifted the dollar, and was looking vulnerable to more losses as appetite for risk boosted equities.

Silver
Silver added 0.5 percent to $15.70 an ounce after falling 2.6 percent to a three-week low of $15.49 on Monday.

Crude Oil
Oil rose by more than $2 a barrel on Tuesday, rallying for a second time in three days, after data showing the fastest rate of U.S. economic growth in 11 years bolstered expectations for crude demand.

Natural Gas
U.S. natural gas futures ended up nearly 1 percent on Tuesday after falling to a 23-month low on weak holiday demand and seasonal temperature forecasts for the next two weeks.

Base Metals:

Copper prices dropped on Tuesday, extending the previous session's fall as the dollar rallied and concerns over weak demand in top consumer China persisted.

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AGRI COMMODITY MARKET

BULLIONS COMMODITY MARKET

CS TURMERIC (APRIL) OVERVIEW: TREND BULLISH RESIST 2:8535 RESIST 1:8450 SUP1:8240 SUP2:8120 STRATEGY: BUY ON DIPS CS SOYABEAN (JANUARY) OVERVIEW: TREND MIXED TO BULLISH RESIST 2:3370 RESIST 1:3355 SUP1:3330 SUP2:3320 STRATEGY: BUY ON DIPS CS CHANA (JANUARY) OVERVIEW:   TREND MIXED TO BULLISH RESIST 2:3385 RESIST 1:3355 SUP1:3300 SUP2:3265 STRATEGY: BUY ON DIPS CS DHANIYA (JANUARY) OVERVIEW: TREND MIXED TO BULLISH RESIST 2:13025 RESIST 1: 12900 SUP1:12550 SUP2:12350 STRATEGY: BUY ON DIPS

CS COPPER (FEBRUARY) OVERVIEW: TREND MIXED TO BEARISH RESIST 1:410 RESIST 2:412.50 SUP 1:404 SUP 2:402 STRATEGY: SELL ON RISE CS CRUDE (JANUARY) OVERVIEW: TREND MIXED TO BULLISH RESIST 1:3680 RESIST 2:3720 SUP1:3570 SUP2:3480 STRATEGY: BUY ON DIPS FOR SMALL PROFITS. CS GOLD (FEBRUARY) OVERVIEW:   TREND BEARISH RESIST 1:26750 RESIST 2:26860 SUP1:26500 SUP2:26375 STRATEGY: SELL ON RISE CS SILVER (MARCH) OVERVIEW: TREND BEARISH RESIST 1:36800 RESIST 2:37050 SUP1:36000 SUP2:35800 STRATEGY: SELL ON RISE

Sensex, Nifty flat; JP Associates gains 5%, UltraTech up 2%

 

The Sensex is up 21.47 points at 27527.93 and the Nifty is up 5.05 points at 8272.05. About 326 shares have advanced, 175 shares declined, and 20 shares are unchanged.

Cipla, HDFC, BHEL, Sesa Sterlite and Bajaj Auto are top gainers in the Sensex. Among the losers are Dr Reddy's Labs, Tata Steel, GAIL, HUL and ITC.

The Indian rupee slipped in the early trade. It has opened lower by 15 paise at 63.43 per dollar against 63.28 a dollar Tuesday.

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INDIAN EQUITY MARKET OUTLOOK-24 DEC 2014

INDIAN BENCHMARK  are likely to open on a flat note as global cues look mixed. SGX Nifty is trading 1.00 point lower.

FURTHER, Cipla gets Rs1,100 cr South African order for HIV drugs

Tata Realty to buy majority stake in Madhucon's Agra-Jaipur road project

Exide Industries: Lower costs, demand recovery to improve margins.

Trend in FII flows: The FIIs were net sellers of Rs - 444.93 cr in the cash segment on Tuesday while the DIIs were net buyers of Rs. 516.34 cr, as per the provisional figures released by the NSE.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
VOLTAS LTD  FUTURE SELL CALL 2 TG
GRASIM  FUTURE  BUY  CALL 2 TG
SUN TV  FUTURE  BUY CALL 1 TG
HINDALCO  FUTURE SELL CALL  COST EXIT

NIFTY FUTURES:
BANK NIFTY FUTURE  SELL  CALL 3 TG
NIFTY FUTURE  SELL  CALL  2  TG

OPTION:
WOCK PHARMA  BUY  960  CALL 3 TG
NTPC   BUY 140  CALL 1  TG

STOCK CASH:
STOCK CASH INTRADAY:
WOCKPHARMA BUY CALL 1 TG
TATACOMM  BUY CALL 1 TG (BOOKED AT 446.50)
AMARAJABATERRY SELL CALL 1 TG
GUJRATGAS  BUY  CALL COST EXIT

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INDIAN EQUITY MARKET WRAP UP-23 DEC 2014

INDIAN BENCHMARKS Profit Booking on D-Street: Nifty below 8300

INDIAN EQUITY BENCHMARKS snapped their three-day winning streak as blue-chips such as ICICI Bank fell on risk aversion after Chinese stocks posted their biggest daily drop in two weeks while caution prevailed a day ahead of the monthly derivatives expiry. The S&P BSE Sensex and CNX Nifty ended 0.71%-0.68% lower each.

·Jet Airways (India) surged 2.13%, after the company said it has successfully concluded a landmark five-year syndicated loan in the Middle East region for $150 million.

·Gujarat Pipavav Port advanced 5.96%, after the company entered into an arrangement with NYK Auto Logistics (India).

·Cipla rose 1.82%, after the company said that Cipla Medpro has been awarded R2 billion share of the South African Government's 2015-17 National ARV tender.

The crucial resistance for Nifty is now seen at 8385 and above this 8455. Support for the immediate term is now placed at 8215 and next support will be 8105.

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TOP CORPORATE NEWS-23 DEC 2014

·SKS Microfinance issues CPs aggregating Rs25 cr
SKS Microfinance announced that the Company issued Commercial Papers of an aggregate amount of Rs25 crore on December 19, 2014, which have been rated A1+ by a leading rating agency Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.

·Jet Airways successfully concludes a 5-year syndicated loan facility
Jet Airways has successfully concluded a five year syndicated loan facility of USD 150 million. The transaction was fully subscribed to, by banks spread across the Middle East region.

·Allahabad Bank board approves fund raising
Allahabad Bank announced that the Board of Directors of the Bank at its meeting held on Dec 22, 2014, have discussed and approved in principle the raising of capital of the Bank through preferential/ QIP issue in compliance with the applicable laws, rules and regulations, Govt. of India Guidelines and in such a manner that the equity shareholding of the Govt. of India shall not go below 52%.

·BOB up on fixation of Record Date
Bank of Baroda rose over 2%, touching to Rs1079.8, after the bank set January 23, 2015 as the record date for 5-for-1 stock split. Bank of Baroda has announced that January 23, 2015 has been fixed as the Record Date for determining the Shareholders of the Bank, who are entitled to receive the equity shares of the Bank upon the sub division/ reduction in the face value of ONE existing equity share of Rs10 each fully paid up into FIVE equity shares of Rs2 each fully paid up.

·RBI tightens regulations for 'non-cooperative' borrowers; + for PSU Banks
Reserve Bank India has allowed banks to classify defaulters, who deliberately stonewall efforts to recover their dues, as non-cooperative, which will stop further fund flow to such borrowers. The definition of non-cooperative borrowers to include all those who have the ability to pay but still thwart lenders’ efforts to recover dues, including by not providing necessary information for accounts. If any entity is reported as non-cooperative, any fresh exposure to such a borrower will by implication entail greater risk necessitating higher provisioning.

·HCL Tech: Q2FY15 revenues to get 2.1% negative impact
In a pre-quarter briefing note, HCL Technologies has indicated at 2.1% negative impact on reported USD revenues for Q2FY15, we expect reported revenues to be around 0.6% (QoQ) growth on reported basis, however on a constant currency basis the revenues expect to deliver 2.7% (QoQ) growth. However, on rupee term, QoQ growth expects to be around 2.4% led by 1.7% (QoQ) depreciation in rupee during the quarter.

·Alstom T&D secures order from NTPC
Alstom T&D India has secured an order worth around Rs1800 million from NTPC to supply a 765 kV switchyard at the 2x800 MW Darlipalli Super Thermal Power Project ( STPP) in Sundergarh, Odisha. The 765 kV switchyard will facilitate evacuate the 1600 MW of power produced by STPP to the state grid of Odisha.

·Cipla Medpro wins ARV tender for three years in South Africa
Cipla’s South African arm Cipla Medpro has won an ARV tender worth Rs1100 crore in South Africa. The contract would be effective from April 01, 2015 and will be valid for three years. Cipla Medpro contributed Rs774 crore of revenue in FY2014 for Cipla (8% of sales). The new tender has potential to see a 40% annual growth for Cipla Medpro in FY2016. We currently have Hold rating on the stock with a price target of Rs658.

·Yes Bank raises $ 200 mn Unsecured Loan from ADB
Yes Bank has successfully raised USD 200 million unsecured loan facility from the  Asian Development Bank. The loan will be used by Yes Bank to lend the Indian  rupee equivalent amount to finance working capital and investment loans targeted towards small farm households and rural women in Self Help Groups (SHGs).
Additionally,  ADB will also provide a Capacity Development Technical Assistance grant upto $ 1 million which will be used by Yes Bank towards capacity building, improving the financial literacy of women borrowers, and for leveraring. YES LEAP program for Agriculture value chain integration.

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Commodity Market News-23 Dec 2014

Bullions

Gold dropped nearly 2 percent and silver slid 3 percent on Monday, triggering automatic sell orders in thin pre-holiday dealings as oil prices eased back toward $55 per barrel.

Silver was down 2.5 percent at $15.63 an ounce, after falling more than 3 percent to a session low at $15.49

Crude Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.

U.S. natural gas futures dropped more than 9 percent to end at a 22- month low on Monday on expectations for moderate temperatures and weak holiday demand over the next two weeks.

Base Metals

Copper dipped on Monday after oil prices retreated and as worries over growth in top consumer China persisted, though a trimming back of surplus forecasts for next year limited losses

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Sensex up over 100 pts; poll results in J&K, J'khand eyed

The Sensex is up 8.16 points at 27709.95 and the Nifty is up 0.60 points at 8324.60. About 386 shares have advanced, 191 shares declined, and 33 shares are unchanged.

M&M, NTPC, Tata Motors, Bharti Airtel and Coal India are top gainers in the Sensex. Among the losers are Dr Reddy's Labs, HDFC Bank, Sun Pharma, Sesa Sterlite and Hindalco.

The Indian rupee opened marginally lower at 63.30 per dollar against the previous closing of 63.25.

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INDIAN EQUITY MARKET OUTLOOK-23 DEC 2014

INDIAN BENCHMARK may open tad higher today tracking a mixed trend in fellow Asian stocks as investors chose to stay on the sidelines ahead of key US economic data today including Q3 GDP numbers, goods and orders and housing data which may offer fresh cues over the health of the world’s biggest economy.                 

FURTHER, Bhushan Steel's promoters among 260 entities barred by Sebi.

Orchid Pharma allots Rs73 cr shares to promoter group firm.

Jet Airways raises $150 mn foreign loan

Trend in FII flows: The FIIs were net sellers of Rs -335.24 cr in the cash segment on Tuesday while the DIIs were net buyers of Rs.389.12 cr, as per the provisional figures released by the NSE.

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CapitalStars Research Expert view on Commodity Market for the week (22-12-2014 to 27-12-2014)

PRECIOUS METALS:-

IN THIS WEEK WE HAVE SEEN RANGE BOUND MOVEMENT IN BOTH THE PRECIOUS METALS i.e. GOLD & SILVER. SILVER HAS SHOWN MORE BEARISHNES THAN GOLD AS IT HAS IMPACTED FROM BASE METAL AS WELL.

IN THE COMING WEEK, PRECIOUS METALS WILL TRADE MIXED TO LOWER AS PRESSURE OF RISE OF INTEREST RATE IN U.S. IS SURE TO HAPPEN. ALSO STRONG DOLLAR & WEAK OIL PRICES WILL FURTHER ACT AS NEGATIVE FACTOR.

GOLD FEB CAN MOVE DOWNWARD TO THE LEVELS OF 26200 & THEN 25800 BREAKING SUPPORTS OF 26500 & 26000. REISTANCES ARE AT 27360 & 27700 LEVELS.

COMEX MARKET SUPPORTS ARE AT 1165 OUNCE & 1176 OUNCE & RESISTANCE ARE AT 1219 OUNCE & 1240 OUNCE.

SILVER MARCH CONTRACT IS ALSO IN BEARISH PAHSE & EXPECTED TO COME DOWN TO 35100 TO 34500 BREAKING SUPPORTS OF 36100 & 34900 LEVELS.

RESISTANCES ARE AT 37800 TO 38050 & 39350 LEVELS.

COMEX MARKET SUPPORTS ARE AT 15.40 CENT & 14.70 CENT & RESISTANCE ARE AT 16.85 CENT & 17.65 CENT.

BASE METAL SEGMENT:-

IN THIS WEEK WE HAVE SEEN RANGE BOUND MOVEMENT IN COPPER FEB CONTRACT. IT HAS MADE HIGH OF 414.90 & LOW OF 401.25 LEVELS.

IN THE COMING WEEK TOO, WE WILL GOING TO SEE SOME UPWARD MOVEMENT TO THE LEVELS OF 415-418 LEVELS WILL GET RESISTANCE OF 421-424 LEVELS & THEN COME DOWN TO 407-404 & 398-396 LEVELS BREAKING SUPPORTS OF 405 & 400 LEVELS

COMEX MARKET SUPPORTS ARE AT 2.84  CUBIC & 2.78 MT & RESISTANCE ARE AT 2.97 MT & 3.01 MT.

ENERGY SEGMENT:-

CRUDE OIL JAN CONTRACT DROPED NEARLY 50% OVER THE PAST 6 MONTHS ON WORRIES ABOUT FAST GROWING U.S.SHAIL OIL SUPPLIES & ACCELERATED AFTER OPEC’s DECISION OF  NOT TO CUT OUTPUT IN NOV 2014. THIS IS FURTHER INDICATING AN OVER-SUPPLIED MARKET & BLEAK DEMAND.

IN COMING WEEK, WE CAN SEE SOME  RECOVERY IN THE OIL & IT CAN MOVE UPWARD TO 3750 TO 3850-3880 LEVELS BREAKING RESIATANCE OF 3690-3710 LEVELS & WILL FACE MAJOR RESISTANCE AT 3900-3935 LEVELS & THEN CAN COME DOWN TO 3500 TO 3430 LEVELS BREAKING SUPPORTS 3570 & 3500 LEVELS.

IN NYMEX MARKET, CRUDE OIL HAVING SUPPORTS AT 54.71 BARREL & 51.44 BARREL. REISTANCES AT 60.13 & 62.28 BARREL.

MARKET HAS WITNESSED VOLATILE MOVEMENTS IN NATURAL GAS DEC CONTRACT. IN THE COMING WEEK, WE WILL WITNESS A VOLATILE SESSION DUE TO EXPIRY OF NATURAL GAS DEC CONTRACT. NATURAL GAS DEC CAN COME DOWN TO 215 – 212 & 208 LEVELS ON BREACHING SUPPORTS OF 218 & 211 LEVELS. AT 208 LEVELS, NATURAL GAS IS EXPECTED TO GET STRONG SUPPORT & UPWARD MOVEMENT TO 225 & 239 TO 251 LEVELS CAN BE SEEN TECHNICALLY. FUNDAMENTALLY, MORE THAN 48 STATES OF U.S. IS EXPERENCING MILD TO WARMER TEMPERATURE & IT WILL EXPECTED TO BE CONTINUE IN COMING WEEK TOO. Moderate winter temperatures in the past week or so are expected to give way to colder temperatures beginning next week.

IN NYMEX MARKET, NATURAL GAS HAVING SUPPORTS AT 3.19 & 3.00 MMBTU. RESISTANCES ARE AT 3.74 & 4.11 MMBTU.

INDIAN EQUITY MARKET WRAP UP-22 DEC 2014

INDIAN BENCHMARKS gain more than 1 pct on insurers buying

INDIAN EQUITY BENCHMARKS  rose more than 1% on Monday to mark a third consecutive day of gains as buying by insurers supported blue-chips such as HDFC Bank, while higher Asian shares and hopes of progress on key reforms underpinned the broader market. The S&P BSE Sensex and CNX Nifty ended 1.21%-1.20% higher each

·McNally Bharat bags an order worth Rs117.95 cr

·Thomas Cook launches 'Silver Breaks'

·Sharekhan Stock Idea: Buy KDDL

The crucial resistance for Nifty is now seen at 8365  and above this 8425. Support for the immediate term is now placed at 8225 and next support will be 8145.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
PETRONET FUTURE BUY CALL 3TG
PFC  FUTURE BUY  CALL 1 TG (BOOKED AT 306.25)
BHEL FUTURE BUY  CALL BOOKED AT 267.50
SKS MICRO FINANCE FUTURE SELL CALL COST EXIT
TITAN FUTURE BUY CALL COST EXIT

PREMIUM FUTURES
PETRONET FUTURE BUY CALL 1TG( BOOKED AT 210.40)

NIFTY FUTURES:
BANK NIFTY FUTURES BUY CALL 3TG
NIFTY FUTURES BUY CALL 2TG

OPTION:
SKS MICRO FINANCE 390 CALL 2TG
NMDC 140 CALL 1 TG
UNION BANK 220 CALL 1 TG

STOCK CASH:

STOCK CASH INTRADAY:
GAIL INDIA BUY CALL 2TG
HDFC BUY CALL 2TG (BOOKED AT 1150.60)
ITC BUY CALL SL TRIGRRED

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TOP CORPORATE NEWS-22 DEC 2014

·BHEL bags Euro 16.96 million contract in Turkey; stk gains
Bharat Heavy Electricals Ltd ( BHEL) rose over 3%, touching to Rs266.75,  after the company bagged a contract for rehabilitation of 3 units of Electrostatic Precipitators for the 430 megawatts Tuncbilek Thermal Power Project in Turkey on EPC basis. BHEL achieves breakthrough by making maiden entry in the Turkish market; Bags Euro 16.96 million contract for Thermal Power Project in Turkey

·McNally Bharat bags an order worth Rs117.95 cr
McNally Bharat Engineering Company announced that the Company has received an order for Design, Engineering, Supply and Construction of various sub-stations for a Power Project for a value of Rs117.95 crore (approx).

·Thomas Cook launches 'Silver Breaks'
Thomas Cook (India) has launched a new product line 'Silver Breaks', exclusively focusing on segment of over 58 years of age - Senior Citizens or 'Silvers'.
The specialised Silver Breaks itineraries offer support for special dietary needs, on-trip medical assistance, handpicked elder friendly hotels, experienced tour managers accompaniment, pre departure meetings, entertainment evenings and high quality easy access vehicles covering destinations such as Thailand, UK and Italy in an outbound segment as well as the Golden Triangle and Kerala on the domestic front.

·MOIL gains on government's plan to dilute stake
MOIL rose by 3% touching to Rs303, after the Department of Disinvestment issued a newspaper advertisement for appointment of merchant bankers for divesting 10% stake in the state-run firm.
The Department of Disinvestment issued a newspaper advertisement for appointment of merchant bankers for divesting 10% stake in state-run MOIL. The government intends to divest 10% stake in MOIL during the current fiscal year through the Offer for Sale ( OFS) route via the stock exchanges mechanism. The government currently holds 71.57% stake in MOIL.

·Suzlon's arm signs new contract in UK; stk gains
Suzlon Energy rose nearly 9%, touching to Rs13.9,  after the company said its wholly owned subsidiary signed four new contracts totaling over 60 megawatts in the UK.
Suzlon Energy said that its wholly owned subsidiary Senvion SE signed four new contracts totaling over 60 megawatts (MW) in the UK, including the first contract to be signed in the UK with developer RES.

·Essel Propack gets High Court approval for amalgamation
Essel Propack has announced that at the hearing held on December 19, 2014, the Honble High Court of Judicature at Bombay has approved the Scheme of Amalgamation of EP Lamitubes (the wholly owned subsidiary of Essel Propack) with Essel Propack and their respective shareholders.

·Winsome Diamond board approves closure of Goa unit
Winsome Diamonds & Jewellery announced that the Board of Directors of the Company at its meeting held on December 20, 2014, has accorded its approval by requisite majority for closure of industrial establishment situated at Goa

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