Commodity and Currency Market Update: 12th October

The Indian Rupee (INR) opened slightly higher against the US Dollar in today’s session. The USD/INR pair is currently trading at Rs 65.11 levels down by 0.05 percent. The dovish outlook in FOMC meeting minutes released yesterday, in pulling the USD down against major currencies. The UD Dollar Index Spot is down by 0.20 percent and is at 92.83 levels.

The Gold Prices has also firmed in today’s session and in MCX it is trading at Rs 29860/ 10gm with gains of Rs 153. MCX Silver is trading 0.57 percent or Rs226 higher at Rs 40354 level. Crude Oil is trading 0.57 percent at Rs 3328/barrel.  Natural Gas is trading 0.31 percent lower at Rs 190/mmbtu.

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Safe Havens Rake In More Investment Across The Day As Nifty Continues To Decline Post Intraday Trading Session

Nifty has taken a downtrend movement post intra day with all benchmark indices taking a bearish note. Nifty is currently trading at 9885.05 with a -0.90% decrease in value resulting from 42 of nifty’s 50 trading in red. This downtrend movement is expected to continue across afternoon session till end of day market hour.

This downtrend is driven by bearish performance from FMCG, Bank , IT and Pharmaceuticals sector. ONGC, Bosch Limited and Coal India Limited are the stocks expected to maintain their bull climb through afternoon session. With market continuing to trade in red through the day and major indices across globe opening and closing bearish across timezone , investors are moving their funds into safe haven stocks and gold and silver. This redistribution of funds across local and international market has caused Gold and Silver to take huge leaps in their bull climb since market opened for the day.

If global cues continue to remain negative , gold and silver are expected to see new heights in the trading sessions to come tomorrow. This would favor investors who have invested in gold in MCX as gold and goldm contracts set to expire tomorrow has seen a 1.21% change in value so far. Gold and Silver has seen an increase of over Rs.200.

Gold is trading today at a 10 months high in MCX and Silver is trading at two months high.

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Intra Day Market Review – 22.08.2017

Today’s Market has taken a bull trend movement since market opened early today and has remained uptrend through morning session till intra day. Nifty is currently trading at 9788.30 with a 0.35% increase in value and nifty crossed 9800 during morning session.

This uptrend market movement is strongly supported by positive movement in various sectors such as metals , energy , IT , Pharma and commodities. Top gainers for the morning session are Indian Oil Corporation and Hindalco Industries Ltd with an increase in value of 3.10% and 2.40% respectively and Top Losers for the day are Indiabulls Housing Finance Limited , Eicher Motors and Hero Motocorp Ltd with a decrease in value of -1.98% , -1.25% and -1.08% respectively.

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