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.

Indian Stock Market Tips

Nifty hits 8700, Sensex up over 100 pts; Wockhardt dives 12%. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• The market has opened higher on Monday. The Nifty has opened at new 52-week high with the 50-share index up 26.95 points or 0.3 percent at 8710.10 and the Sensex is up 113.53 points or 0.4 percent at 28191.88. About 409 shares have advanced, 101 shares declined, and 37 shares are unchanged.
• Bajaj Auto, Axis Bank, Adani Ports, M&M and Maruti are top gainers while Infosys, GAIL, TCS and Bharti Airtel are losers in the Sensex. Wockhardt is down 12 percent.
• Q2 slippages may be in Rs 2,000-2,500 cr range: Andhra Bank Andhra Bank's MD & CEO Suresh Patel says large accounts particularly in the construction and iron and steel are major contributors to slippages.
• Apollo Munich eyes 2-3 bancassurance tie-ups this fiscal Enthused by the open architecture system announced by insurance regulator IRDAI, Apollo Munich Health Insurance said it is eyeing a couple of more bancassurance tie-ups in the current fiscal.
• Govt may cut gas price for producers by 20 pc in Oct Natural gas price paid to producers like state-owned Oil and Natural Gas Corp (ONGC) and Reliance Industries is likely to fall 20 per cent to USD 2.45 in October.
• Economy's financial parameters improved in April-June: Survey Banks and financial institutions witnessed improvement in financial parameters such as cost of funds, liquidity position and external financial linkages in April-June quarter, according to a survey.

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

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The market has opened green. The Sensex is up 74.35 points or 0.3 percent at 27882.49, and the Nifty is up 1.95 points at 8523. About 547 shares have advanced, 251 shares declined, and 33 shares are unchanged. For more market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

     ONGC, Tata Steel, ICICI Bank, BHEL and Coal India are top gainers while Sun Pharma, Dr Reddy's, HUL, Maruti and L&T are down.
     The Indian rupee opened higher by 9 paise at 67.09 per dollar on Wednesday against previous close 67.18.

        Indiabulls Real Estate said that it has raised Rs 25 crore by issuing non-convertible debentures (NCDs).   Last month, the Mumbai-based company had announced that it proposed to raise up to Rs 200 crore through issue of NCDs on a private placement basis. So far, the company has raised Rs 131 crore in three tranches.
          Demand for luxury residential and commercial properties (in London)- the segments some Indian homebuilders have invested in - may remain weak at least over the coming 6 to 12 months as buyers postpone purchases and banks trim loans amid increased economic uncertainty," it said in a report.

Share of Ruchi Soya Industries plunged 8 percent intraday Wednesday as it has received a winding up notice from one of the creditors. The company has received a copy of winding up petition filed by one of its creditors before the Hon'ble High Court of Bombay.

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.