Today's Commodity Market News

Gold steady as dollar softens ahead of US jobs data. For more information visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22. 

  Gold was steady on Friday after falling to its lowest in over two months the session before, with the dollar slipping as weak US manufacturing data raised doubts on the economy's strength ahead of closely-watched non farm payroll numbers.

       "(The Federal Reserve head's) comments from last week have put pressure on gold and we need to see the jobs data, which is likely going to be really good," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

             US factory activity contracted in August for the first time in six months as new orders and production tumbled, but a low level of layoffs continued to point to a pickup in economic growth in the third quarter.

            Spot gold was largely unchanged at $1,314 per ounce by 0414 GMT. The metal on Thursday touched its lowest since June 24 at $1,301.91 and was on track to end the week lower for the second straight week.

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Market Outlook:-
Equity benchmarks started off Thursday's trade on a positive note, continuing upside for third consecutive session. The Sensex rose 138.25 points to 26019.42 and the Nifty climbed 31.55 points to 7966.45. 

L&T shares rallied 9 percent in early trade as brokerages turned bullish on the stock after better-than-expected earnings in January-March quarter. Citi has upgraded the stock to buy from neutral and target price raised to Rs 1,640 from Rs 1,230 apiece.

Tata Steel fell nearly a percent after reporting a loss of Rs 3,279 crore in Q4.

The rupee weakened initially but recovered on the back of a bounce back in stock markets and large custodial inflows.

Oil prices gained in the US session after US government data showed a larger-than-expected drop in crude inventories. 

Shares of VRL Logistics today plunged by over 12 percent on BSE amid worries over its promoters' proposed investment in regional airline venture and its impact on the firm's balancesheet. Yesterday, the stock tumbled by 18 percent.

Stock Investment Tips: Adani Power Stock Price

Adani Power raises Rs 330 crore through NCDs

"The organization raised Rs 330 crore on May 10, 2016, by allotment of 3,300 rated, listed, redeemable, zero coupon, non-convertible debentures (NCDs) of the face estimation of Rs 10,00,000 each on a private position premise," Adani Power said in a BSE filing. 

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Stock Price of Adani Power:

On May 12, 2016, at 09:44 hrs Adani Power was quoting at Rs 30.25, up Rs 0.15. The 52-week high of the share was Rs 44.20 and the 52-week low was Rs 19.65. 

The stock's price- to- earnings (P/E) proportion was 1512.5. The most recent book estimation of the organization is Rs 24.55 for every share. At current esteem, the price to-book estimation of the organization is 1.23.

Top Stock Market News by Experts

Stock Market has opened level on Tuesday as the Sensex is down 15.74 focuses at 25673.12. Nifty is down 2.80 focuses at 7863.25. Around 396 shares have progressed, 261 shares declined, and 46 shares are unaltered. HUL is up 1 percent while Adani Ports, Dr Reddy's Labs, Tata Steel and Maruti are top gainers while Tata Motors, Hindalco, NTPC, Bharti Airtel and ONGC are failures in the Sensex.

 

The Indian rupee opened lower by 8 paise at 66.66 for each dollar on Tuesday versus past close of 66.58. 

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Asia markets exchanged mixed, with the Japanese benchmark record driving additions in early exchange, in front of Chinese inflation information due later on Tuesday.

US stocks shut mixed in high-volume exchange, with the Dow Jones industrial average was down 0.2 percent, the S&P 500 closed up 0.08 percent and the Nasdaq composite included 0.3 percent.

Stock Market Trend: Nifty ends above 7700

3:30 pm Market shutting: After an unstable day, the stock market has finished down 33.71 focuses at 25228.50 and the Nifty slipped 2.05 focuses at 7733.45. GAIL, BHEL, SBI, Hindalco and Tata Motors were top gainers while Adani Ports, Dr Reddy's, Wipro, ONGC and HDFC Bank are major losers in the sensex.

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In the mean time, Gold was set to post its greatest week by week decrease in six weeks as the US dollar firmed in front of the U.S. non-ranch payrolls report that could give pieces of information about the Federal Reserve's monetary policy.

For the week, gold was set for a 1.2 percent decay, its greatest week after week drop following the week finished March 25.

Stock Market News: ITC slips about 4%

ITC slips about 4%; close manufacturing plants to follow SC order

Share prices of cigarette creator ITC slipped almost 4 percent intraday Friday as the organization has closed its plants from May 04, 2016. 

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The organization has chosen to close its cigarette manufacturing plants from May 04, 2016 until the organization is in a position to follow the between time necessities pending hearing in the Karnataka High Court. 

At 09:25 hrs ITC was citing at Rs 310.05, down Rs 7.50, or 2.36 percent on the BSE.