Crude Palm Oil (CPO) Trading Range For the Day Is 587.2-592.6

Crude Palm Oil

(CPO) trading range for the day is 587.2-592.6.

Crude palm oil ended with losses tracking weakness in spot demand and overseas prices.

According to Indonesia trade ministry, Indonesia keeps November crude palm oil export duty to zero, unchanged from last month.

Production in Malaysia, the world's second largest producer after Indonesia, last rose 12.9 % by the end of October, according to industry regulator data.

Crude palm oil prices in spot market dropped by 3.40 rupees and settled at 589.10 rupees.

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Crude Oil Futures Extend Decline Despite Dropdown in stockpiles

Crude oil futures continued their decline on Thursday despite the report of another significant decline in US oil stockpiles. Traders were concerned with an unexpected build in product inventories ahead of the OPEC meeting. Meanwhile, Energy Information Agency (EIA) inventory report showed crude stockpiles fell more-than-estimated, but both gasoline and distillates supplies unexpectedly rose. Inventories of US crude fell by roughly 3.4 million barrels for the week ended Nov. 24. 

Gasoline inventories rose by 3.6 million barrels, while supplies of distillate unexpectedly rose by about 2.8 barrels. US crude oil imports averaged over 7.3 million barrels per day last week, down by 544,000 barrels per day from the previous week.

Benchmark crude oil futures for January delivery ended lower by $0.69 or 1.2 percent at $57.30 a barrel on the New York Mercantile Exchange. Brent crude for January delivery was down by 0.81 percent to $62.73 a barrel on the ICE.

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GST To Be Simple For Everyone By March: Union Minister

Union Minister of State for Finance Shiv Pratap Shukla on Wednesday said the Goods and Services Tax (GST) should smoothen out by March 2018 as the government has been addressing the concerns and it would become so simple that people would not have any issues. "By March, it will be so simple that even children will able to understand. Even in a country like Singapore, it took four years for GST to get stabilized. 

I am proud that our government has responded to the issues so quickly," he said while addressing the 116th annual session of the Merchants' Chamber of Commerce and Industry. Post the Guwahati meet of the GST council, tax rates on many products were reduced to 18 per cent from 28 per cent, which was appreciated by businesses, the minister said.

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Gold Steadies Within Narrow Range As Dollar Stabilises

Gold surrendered its initial slim gains on Wednesday as the dollar clawed back some lost ground against the euro, with the metal still stuck in its narrowest monthly range since 2005. Strong gains in stock markets, which have hit a series of record highs in recent months, have reduced investor appetite from gold which is often bought as an alternative to equities and other cyclical assets.

Spot gold was at $1,293.81 an ounce at 1243 GMT, little changed from $1,293.61 late on Tuesday. U.S. gold futures for December delivery were down $1.20 at $1,293.70.

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Aluminium Trading Range For The Day Is 132.9-136

Aluminium on MCX settled down -1.9% at 134.30 tracking weakness in LME prices dropped by 1.5 percent to $2,102.5 amid weaker demand in top consumer China. Annual Japanese retail sales fell for the first time in a year last month, government data showed, as poor weather including two typhoons kept consumers away from stores and restaurants.

Trading Ideas:

* Aluminium trading range for the day is 132.9-136.7.

* Aluminium prices dropped tracking weakness in LME prices dropped by 1.5 percent to $2,102.5 amid weaker demand in top consumer China.

* Gold estimates aluminum supply will react to China’s reducing output. In future two to three years aluminium will be in surplus supply.

* China’s aluminium production in October was 2.546 million tonnes, down from 2.606 million tonnes, data from the IAI showed.

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Mentha Oil Trading Range For The Day Is 1735.7-1828.5

Mentha oil on MCX settled up by 1.19% at 1792.7 following strong demand from the domestic and overseas markets as supply of synthetic menthol from the world’s biggest supplier has slowed down and as demand from oral care, pharmaceutical and confectionary sectors continue to remain high. Farmers have got Rs 1,100-1,200/kg for mentha oil this year and are offloading stock with increase in prices.

Trading Ideas:

* Menthaoil trading range for the day is 1735.7-1828.5.

* Mentha oil spot at Sambhal closed at 1948.00 per 1kg. Spot prices was up by Rs.1.30/-.

* Mentha oil settled up following strong demand as supply of synthetic menthol from the world’s biggest supplier has slowed down.

* According to the market sources, traders have raised their holdings on the back of pick-up in spot demand from consuming industries.

* Tight stock positions due to restricted arrivals from the major producing belts of Chandausi is also giving support to the mentha prices.

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Soyabean Trading Range For The Day Is 2939-3057

Soyabean on NCDEX settled down by -0.73% at 2992 on profit booking after prices gained taking clues from the spot market on increasing supply concerns in global market. There are reports of good physical demand from the oil millers after hike duty on in edible oil imports. Moreover, reports that government is likely to double the incentive on export of oilmeals to 10% to support domestic oilseed prices.

Trading Ideas:

* Soyabean trading range for the day is 2939-3057.

* Soyabean prices ended with losses on profit booking after prices gained taking clues from the spot market on increasing supply concerns in global market.

* There are reports of good physical demand from the oil millers after hike duty on in edible oil imports.

* NCDEX accredited warehouses soyabean stocks gained by 5303 tonnes to 155640 tonnes.

* At the Indore spot market in top producer MP, soybean gained 8 Rupees to 2979 Rupees per 100 kgs.

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India`s Wheat, Pulses Output Seen Rising, To Curb Imports

India's production of wheat and pulses is expected to jump in 2018 as a hike in the government's assured purchase prices and ample rainfall have prompted farmers to plant more of the winter crops, industry officials.

Higher production will help the south Asian country reduce imports of pulses in the 2018/19 fiscal year starting April 1 and and could allow it to avoid buying overseas wheat for the first time in three years.

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Markets Open On A High Note On Wednesday

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade. The Sensex of the BSE after opening at 33,664.27 points, touched a high of 33,690.92 points and a low of 33,635.28 points. On Tuesday the Sensex closed at 33,618.59 points.

The Sensex is trading at 33,643.35 points up by 24.76 points or 0.07 per cent.

On the other hand, the broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 10,376.65 points after closing at 10,370.20 points. The Nifty is trading at 10,380.35 points in the morning.

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Crude Oil Futures Decline On Concern Of The Outcome Of The OPEC Meeting

Crude oil futures declined further on Tuesday ahead of U.S. inventories data and amid ongoing investor uncertainty concerning the outcome of the OPEC meeting this week with reports suggesting Russia is reluctant to join in extending output curbs beyond March. Traders remain uncertain about whether OPEC will announce a meaningful extension of its supply quota plan with Russia. Earlier a joint OPEC and non-OPEC Committee reportedly recommended extending output cuts through the end of 2018.

Benchmark crude oil futures for January delivery ended lower by $0.12 or 0.2 percent at $57.99 a barrel on the New York Mercantile Exchange. Brent crude for January delivery was down by $ 0.13 to $63.25 a barrel on the ICE.

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RCOM Enters Into Pact To Sell DTH Operation

Reliance Communications (RCOM) on Tuesday said it has entered into a binding "Share Purchase Agreement" with Pantel Technologies and Veecon Media & Television for the sale of its subsidiary Reliance BIG TV (RBTV). According to the company, pursuant to this transaction, the buyers will acquire the entire shareholding of its subsidiary engaged in the business of Direct-to-Home (DTH) services across India on an "as-is, where-is" basis.

"The existing DTH license of BIG TV is being renewed and the required bank guarantees have already been submitted to the Ministry of Information and Broadcasting," the company said in a statement.

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Coal India To Raise Executive Salaries At A Cost Of 8 Billion Rupees

Coal India Ltd, the world's largest coal miner, will pay its executives about 8 billion rupees ($124.08 million) in salary rises retroactive from January this year. The pay increase, which was approved by the board last week, comes over a month after the company approved a rise in the salaries of its workers, costing 56 billion rupees over five years. The company employs more than 300,000 people, about 18,000 of whom are executives.

($1 = 64.46 Indian Rupees)

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Crude Palm Oil (CPO) Trading Range For The Day Is 584.3-592.3

Crude Palm Oil on MCX settled down by -0.34% at 588.2 tracking weakness in spot demand amid easing supply worries. However there is expectation that increased import duty will support strong physical buying in domestic market. Palm oil prices in domestic market were further pressurized by higher stockpiles. Data released by Solvent Extractors' Association (SEA) of India showed total stocks of palm oil both at port and pipeline as on Nov 1 stood at 330,000 tons compared to 300,000 tons in the same period a year ago, indicating oversupply woes.

Trading Ideas:

* CPO trading range for the day is 584.3-592.3.

* Crude palm oil ended with losses tracking weakness in spot demand amid easing supply worries.

* However there is expectation that increased import duty will support strong physical buying in domestic market.

* Data showed total stocks of palm oil both at port and pipeline as on Nov 1 stood at 330,000 tons compared to 300,000 tons in the same period.

* Crude palm oil prices in spot market dropped by 2.40 rupees and settled at 591.30 rupees.

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Cotton Trading Range For The Day Is 18420-18620

Cotton on MCX settled flat on estimation of lower output and reports of crop damages in the major growing states. Prices of cotton may remain supportive as United States Department of Agriculture (USDA) has maintained India's 2017-18 cotton output in November. USDA maintained India's 2017-18 cotton output at 30 million bales for November month unchanged from October month. Following low arrivals, with falling yield due to pest attack, the cotton crop is set to fall significantly.

Trading Ideas:

* Cotton trading range for the day is 18420-18620.

* Cotton prices settled flat on estimation of lower output and reports of crop damages in the major growing states.

* Following low arrivals, with falling yield due to pest attack, the cotton crop is set to fall significantly.

* Clarity is expected in a few weeks on the extent of damage the pink boll-worm has done to the standing crop, especially in Maharashtra and Telangana.

* Cotton prices in spot market dropped by 60.00 rupees and settled at 18160.00 rupees.

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Cardamom Futures Dip On Subdued Demand

Cardamom futures were trading lower during the morning trade in the domestic market on Tuesday as speculators booked profits at prevailing levels amid easing demand in the spot market. Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom futures for December 2017 contract was trading at Rs 984 per kg, down by 1.27 per cent, after opening at Rs 990, against a previous close of Rs 996.70. It touched the intra-day low of Rs 975.

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Gold Holds Near Six-Week High Ahead Of Fed Chair Hearing

Gold prices on Tuesday held near a six-week high hit in the previous session, supported by a weaker dollar ahead of a congressional hearing on U.S. Federal Reserve chair nominee Jerome Powell and a possible Senate vote on U.S. tax reforms.

Fundamentals

* Spot gold was up 0.1 percent at $1,295.31 an ounce at 0120 GMT. On Monday, the metal touched a high of $1,299.13 an ounce, its highest since Oct. 16.

* U.S. gold futures for December delivery were nearly unchanged at $1,294.80.

* The dollar on Tuesday remained within sight of a two-month low versus the yen, with the near-term focus on a possible Senate vote on a U.S. tax plan later in the week.

* Sales of new U.S. single-family homes unexpectedly rose in October to hit a 10-year high amid robust demand across the country, offering a boost to the housing market.

* Sales of new U.S. single-family homes unexpectedly rose in October to hit a 10-year high amid robust demand across the country, offering a boost to the housing market.

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Oil Prices Fall On Uncertainty Over OPEC Output Cuts, Pipeline Restart

Oil prices slipped in early Asian trade on Tuesday amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts. U.S. West Texas Intermediate (WTI) futures were down 24 cents at $57.87 a barrel at 0117 GMT, after falling 1.4 percent in the previous session.

U.S. crude touched $59.05 a barrel on Friday, the highest level since mid-2015, fuelled by the outage of the Keystone pipeline, one of Canada's main crude export routes to the United States.

It would restart the 590,000 barrel-per-day pipeline at reduced pressure later on Tuesday after getting approval from U.S. regulators. Brent futures fell to $63.73 a barrel, down 11 cents from the previous close.

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GST Collection More Than Rs 83k CR Till November 27

India's Goods and Services Tax (GST) collections received in November totalled Rs 83,346 crore till November 27, the government announced on Monday.

According to Ministry of Finance, a total of 95.9 lakh tax payers have been registered under the GST so far, out of which 15.1 lakh are "composition dealers" who are required to file returns every quarter.

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India’s Crude Steel Output Rises By 5.3% To 8.629 MT In October

India’s crude steel production stood at 8.629 million tonnes (MT) in October 2017. As per report compiled by global steel body the World Steel Association (World-steel), this is a rise of 5.3% compared to production of 8.197 MT of steel during the same month last year.

According to the report, India’s steel output during January-October 2017 was 6.4% higher at 84.123 MT, as against 79.073 MT during the corresponding period of 2016. 

India is the world leader in stainless steel production and the third largest crude steel producer. World-steel has 66 member countries, representing approximately 85% of the world’s steel production.

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Mentha Oil Futures Up On Rising Demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Monday amid pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

At the MCX, mentha oil futures for November 2017 contract was trading at Rs 1748.90 per kg, up by 1.83 per cent, after opening at Rs 1705.80, against the previous closing price of Rs 1717.50. It touched the intra-day high of Rs 1750.

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Physical Rubber Prices Ruled Flat On Saturday

Physical rubber prices ruled steady on Saturday. Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 126/ kg and Rs 123/ kg respectively.

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Gold Steady As Dollar Holds Near Two-Month Lows

Gold prices were steady early Monday, as the dollar held close to a two-month low hit in the previous session against a basket of major currencies.

Fundamentals

* Spot gold was nearly unchanged at $1287.67 an ounce at 0045 GMT.

* U.S. gold futures for December delivery were flat at $1,287.20.

* Market players are looking to the Congressional hearing on Fed Chair nominee Jerome Powell on Tuesday.

* With the U.S. stock market at a record high and daily stock gyrations near multi-decade lows, some investors have raised concerns about the lack of fear in the market, but U.S. equity options market data suggests investors are far from complacent.

* The buying of physical gold remained muted across major Asian centres last week as higher prices dented demand, though seasonal demand could boost activity in top consumer China next month.

* Russia is increasing the share of gold in its state reserves to beef up national security, Central Bank First Deputy Governor Sergei Shvetsov said on Friday.

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Crude Oil Futures End At Fresh Two Week High On Friday

Crude oil futures ended at a fresh two week high on Friday on a report suggesting OPEC and Russia agreed on a plan to extend output curbs lifted sentiment. Traders also got some support with tighter supplies amid ongoing disruption to the Keystone pipeline. The Keystone pipeline leak has kept shipments from Canada's oil sands from reaching US Gulf refineries, but should be alleviated soon. Meanwhile, OPEC meets November 30 to decide whether to process with supply quotas.

Benchmark crude oil futures for December delivery ended higher by $0.93 or 1.6 percent at $58.95 a barrel on the New York Mercantile Exchange. Brent crude for January delivery was up by 0.58 percent to $63.32 a barrel on the ICE.

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Today Share Market Tips

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FUTURES PRM CALL :- ADANIPORTS FUT SELL BELOW 403 TG AROUND 395 SL 409

FUTURES PRM UPDATE :- ADANIPORT SELL CALL IS EXECUTED & TRADING @ 400.50

Jindal Steel Could Win A Slice Of Rail Tender

A clause in India's global tender for steel rails, part of a $130 billion overhaul of its railways, could help Jindal Steel and Power Ltd win up to 20 percent of the work. The world's fourth-largest rail system is undergoing a five-year overhaul to replace ageing tracks, improve efficiency and end a spate of deadly train accidents, including one on Friday.

State-run Steel Authority of India Ltd (SAIL) has struggled to supply the steel, however, and is expected to deliver 920,000 tonnes of it this financial year, just 65 percent of its target.

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Copper Futures End Higher On Weaker Dollar

Copper futures ended up on Friday, buoyed by weaker dollar which makes dollar-priced metals cheaper for non-US investors. The US dollar was at its lowest level since late September against a currency basket, still under pressure after the minutes from the latest US Federal Reserve policy meeting highlighted concern among some board members over persistently low inflation.

Copper futures for December delivery picked up 1 percent to settle at $3.169 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 0.6 percent at $7,002 a metric ton.

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महिंद्रा एंड महिन्द्रा ने उबर के साथ किया करार

इलेक्ट्रिक गाड़ियों के पहले फेज की शुरूआत के लिए महिंद्रा एंड महिन्द्रा ने उबर के साथ करार किया है। हैदराबाद और दिल्ली से इसकी शुरूआत की जाएगी और फिर बाद में बाकी शहरों तक ये प्रोजेक्ट पहुंचेगा। करार के तहत इलेक्ट्रिक गाड़ियां, फाइनेंस, इंश्योरेंस और बाकी सेवाएं शामिल होंगी।

फिलहाल महिन्द्रा की 4000 इलेक्ट्रिक गाड़ियां चलती हैं और इसके लिए 500 करोड़ रूपये इलेक्ट्रिक गाड़ियों पर खर्च किए जाते हैं लेकिन भविष्य में इस निवेश को बढ़ाकर 600 करोड़ कर दिया जाएगा।

महिन्द्रा फिलहाल हर महीने 500 गाड़ियां बनाता है लेकिन आने वाले वक्त में ये 1000 गाड़ियां हर महीने बनाने का लक्ष्य रखता है। यहीं नहीं 2019 तक हर महीने 5000 इलेक्ट्रिक गाड़ियां बनाने का लक्ष्य भी रखा गया है।

इस मौके महिन्द्रा एंड महिन्द्रा के मैनेजिंग डायरेक्ट पवन गोयनका ने कहा कि 2019 तक 5000 इलेक्ट्रिक गाड़ियां हर महीने बनाने का लक्ष्य पूरा जरूर करेंगे।

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Gold Futures Edge Down On Profit Booking

Gold futures edged down on Friday, as investors booked in profits at the end of the week, and risk appetite strengthened, amid speculations for a uptrend in yellow metal price. The yellow metal also marginally lower on Fed minutes outlook that higher interest rates boosts the US dollar and push bond yields up, pressuring gold prices by increasing the opportunity cost of holding non-yielding bullion.

Gold futures for December delivery fell by $4.90, or 0.4 percent, at $1,287.30 an ounce on the Comex division of the New York Mercantile. While, spot gold was down 0.3 percent at $1,287.70 an ounce.

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Mentha Oil Futures Down On Easing Demand

Mentha oil futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions.

At the MCX, mentha oil futures for November 2017 contract was trading at Rs 1762 per kg, down by 0.70 per cent, after opening at Rs 1766.40, against the previous closing price of Rs 1769.60. It touched the intra-day low of Rs 1756.90.

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Cardamom Futures Down On Easing Demand

Cardamom futures were trading lower during the morning trade in the domestic market on Friday as speculators booked profits at prevailing levels amid easing demand in the spot market. Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom futures for December 2017 contract was trading at Rs 1033 per kg, down by 1.11 per cent, after opening at Rs 1037.60, against a previous close of Rs 1044.60. It touched the intra-day low of Rs 1033.

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Rupee Swings Up, Bonds Trim Losses On Market Talk Of S&P Ratings Upgrade

The Indian rupee rose sharply in late trade after moving in a narrow band for most of Thursday following market talk of a potential sovereign ratings upgrade by Standard & Poor's. The Indian rupee ended at 64.58 to the dollar after moving in a range of 64.5675-64.8900 during the day, and compared with Wednesday's close of 64.92. The 10-year benchmark bond yield also cooled off from its highs and ended at 6.99 percent after rising to 7.02 percent. It had closed at 6.96 percent on Wednesday.

Speculation about a India ratings upgrade surfaced after TV channel BTVI reported, citing sources, that S&P will announce its rating review on Friday. Expectations that the other two international ratings agencies - S&P and Fitch - could also better India's sovereign rating sooner than later has been gaining steam after a surprise upgrade by Moody's last week.

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Key Indian Equity Indices Open In Green

The key Indian equity indices on Friday were trading higher in the morning session. The 30-scrip Sensitive Index (Sensex), was trading 76.76 points or 0.23 per cent higher soon after opening. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 18.45 points or 0.18 per cent higher at 10,367.20 points.

The Sensex of the BSE, which opened at 33,670 points, was trading at 33,664.84 points (at 9.17 a.m.), higher by 76.76 points or 0.23 per cent from Thursday's close at 33,588.08 points. The Sensex touched a high of 33,689.86 points and a low of 33,639.98 points in the trade so far.

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Crude Oil Futures Moves Higher In Holiday Thinned Trade

Crude oil futures bounced higher on Thursday, erasing earlier losses as optimism that the market is re-balancing resurfaced in holiday-thinned trade. Trade volumes were light on Thursday, with U.S. markets closed for the Thanksgiving holiday. Crude prices also got some support with an announcement that it would slash oil deliveries to the United States by 85% or more on its keystone crude pipeline.

Benchmark crude oil futures for December delivery ended higher by $0.18 or 0.31 percent at $58.20 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude for January delivery was up by $0.02 to $63.32 a barrel on the ICE.

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