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.

Live Stock Market; Sensex is up 74.49 Points

The market has opened in green on August Futures and Options expiry day. For more information visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.

• The Sensex is up 74.49 points or 0.3 percebt at 28134.43 and the Nifty is up 25.45 points or 0.3 percent at 8675.75. About 562 shares have advanced, 165 shares declined, and 26 shares are unchanged.
• Cipla, Bajaj Auto, Axis Bank, Maruti and TCS are top gainers while Wipro, Infosys, BHEL, NTPC and HDFC are losers in the Sensex.
• Crude dropped to a one-week low after a government report showed that US crude inventories unexpectedly rose last week.
• Gold prices slipped to a 4-week low as investors seemed to move from the sidelines ahead of a speech by Federal Reserve Chair Janet Yellen this weekend.
• Sebi confirms ban on 11 entities in tax evasion case. The Securities and Exchange Board of India (Sebi), via an interim order dated June 1, this year had prohibited 76 entities, including the aforesaid 11, from the securities market for suspected money laundering and tax evasion activities.

Nifty Hits 8700 for 1st Time Since April 16, 2015

Nifty hits 8700, Sensex strong ahead of GST meet; Hero up 6%. For more information visit  www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.

BHEL, Bajaj Auto, Tata Steel, L&T and ONGC are top gainers while ICICI Bank, Infosys and Lupin are major losers in the Sensex.
      The market has opened on a strong note with the Nifty rushing towards 8700. The 50-share index is up 16.00 points or 0.2 percent at 8654.50. The Sensex is up 71.05 points or 0.3 percent at 28122.91. About 448 shares have advanced, 113 shares declined, and 45 shares are unchanged.
Hero MotoCorp is up 6 percent, Bharti Airtel, BHEL, Tata Steel and ONGC are top gainers. ICICI Bank is down 2 percent.
          The Indian rupee gained in the early trade on Monday. It opened higher by 22 paise at 66.80 per dollar versus 67.02 Friday.
      Investment tips: 6 stocks you can buy, sell post June results

• L&T 
• ICICI Bank
• Nestle
• Godrej Consumer
• Kansai Nerolac
• KEC International

Live Gold Market Update

Gold was in the trading session ending Thursday. Yellow metal closed at Rs 31210 per 10 grams, down 0.34%. The yellow metal support levels are at Rs 31100 and 31150 per 10 grams. On the higher side Rs 31400 and 31420 per 10 grams are the cap to watch out for. Gold tested a high of Rs 31290 per 10 grams and Rs 31131 per 10 grams as low. For more information visit www.marketmagnify.com/freetrial.php

       Gold held on to its overnight gains in Asian trade on Friday and was headed for its fifth

straight weekly gain, as a recovery in equity markets post the Brexit vote was offset by a weaker dollar.

       The prices of Copper moved forward though weekend trades are expected to bring declines due to profit booking. MCX Copper closed last session trades at Rs 330.65 per kg up 0.70%. The highs for Copper was at Rs 332.15 per kg while low is at Rs 328.05 per kg. China is the world's largest copper consumer, accounting for 45% of global demand.

       Crude futures retreated from two-week highs on Wednesday, amid heavy profit taking, but still ended the second quarter with one of its strongest three-month rallies in seven years, amid a host of global supply disruptions in recent weeks.

       MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, weather and a number of agri-commodities on its platform.
      Asian stocks rose on Friday as riskier assets continued to recover from the Brexit shock, while the pound came under renewed pressure after the Bank of England's governor hinted of an interest rate cut ahead. 

Ola to invest Rs 350 crore in Haryana over 5 years

L&T Infotech IPO is set to open on July 11 and close on July 13. The company contributes about 8 percent of the consolidated revenue of the entire L&T business. CNBC-TV18's Kritika Saxena learns that this IPO kicks of a series of consolidations that the L&T group is looking at doing.  For more market news visit www.marketmagnify.com/stock-future-tips.php

& give a missed call @ 78-79-88-11-22.

       

  Tata Motors, ICICI Bank, Dr Reddy's Labs, L&T and Sun Pharma are top gainers while GAIL and HDFC Bank are losers in the Sensex.

      Gold slipped below USD 1320 an ounce as buyers cashed in gains from the biggest two-day rally in the metal since late 2008 made last week.

     The Indian rupee opened higher by 17 paise at 67.78 per dollar on Wednesday versus previous close 67.95.

     Taxi hailing app Ola has signed an agreement with Haryana government to create over 10,000 entrepreneurs in the state with an investment of Rs 350 crore over the period of five years, the company said today.

        The market breadth was positive as about four shares advanced for every share declining on Bombay Stock Exchange.  

        According to Angel Broking, Rupee is likely to trade sideways to positive as yesterday’s robust release of GDP and consumer confidence data from the US will keep the DX supported.

       Hybrid instruments include optionally convertible or partially convertible debentures, Foreign Currency Convertible Bonds - which are intrinsically debt-instruments.            The company has bought back 50,77,504 equity shares at an average price of Rs 3,090.92 per share. The company has thus deployed Rs 1,569.41 crore against the maximum buyback size, Dr Reddy's Laboratories said in a regulatory filing.