COMMODITY MARKET UPDATE 26 JUNE 2014

BASE METAL WRAP:  

Copper advanced for a ninth straight session in New York, capping the longest rally since 2005, amid signs of tightening supply.

ENERGY WRAP: 

West Texas Intermediate traded near a three-day high before data that may show a strengthening U.S. economy and as violence escalated in northern Iraq, OPEC’s second-biggest crude producer. Brent was steady in London.

PRECIOUS METAL WRAP: 

Gold traded below a two-month high as investors weighed the outlook for the U.S. economy that shrank in the first quarter by the most in five years.

GLOBAL EVENTS TO WATCH: 

Unemployment Claims, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Natural Gas Storage.

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INDIAN BENCHMARK started on a negative note on the last day of the June

INDIAN BENCHMARK started on a negative note on the last day of the June series weighed down by weakness in oil & gas heavyweights as the government maintained status quo on gas prices for another three months.

FURTHER, Dr Reddy’s Laboratories announced that it launched Paricalcitol Capsules in the US market following approval from the United States Food & Drug Administration. Crompton Greaves along with the other consortium partners Fabricom and Iemants, has been selected by Van Oord, for the offshore wind project `Gemini' in the Netherlands.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 433cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARK started on a very quiet note

INDIAN BENCHMARK started on a very quiet note with the benchmark indices hovering around yesterday's close.

FURTHER, HDFC Bank seeks shareholder approval in order to raise Rs 10,000 crore in the AGM meet to be held later during the day. Reliance Communication plans to raise Rs 4,300 crore by way of a qualified institutional placement of shares and a preferential offer to promoters.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net sellers of Rs. 216cr, as per the provisional figures released by the NSE.

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WPI (Wholesale Price Index) UPDATE

The Wholesale Price Index (WPI) measures the change in the price of goods sold by wholesalers. It shows the average price changes of goods sold in bulk, and they are a group of the indicators that follow growth in the economy.

May WPI inflation at 6.01% vs 5.2%, highest level since Dec 2013.

INDIAN BENCHMARK open lower on first trading day

INDIAN BENCHMARK open lower on first trading day of the week tracking weak global cues along with capital goods shares leading the fall.

FURTHER, Apollo Tyres plans to expand the manufacturing capacity for off-highway tyres by investing about Rs.400 crore in its Kerala plant. GAIL India is planning to reduce its equity stake in ONGC's mega petrochem project at Dahej to 11.6 %.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while the DIIs were net buyers of Rs. 358cr, as per the provisional figures released by the NSE.

INDIAN BENCHMARKS drag by amid Iraq crisis

INDIAN EQUITY BENCHMARKS ended with a big fall with increase in crude oil prices amid increasing violence in Iraq. Brent crude oil hit a nine-month high near USD 115 a barrel as the United States threatened military action against Islamist militants who have taken towns and cities in Iraq, raising concerns over its oil exports.

Further, Hero MotoCorp is planning to enter Brazil by 2016 as it looks to consolidate position in the fast growing South American market. Lupin has launched its Ciprofloxacin for Oral Suspension, 5 g/100 mL and 10 g/100 mL in the US having received final approval from the FDA earlier.

The crucial resistance for Nifty is now seen at 7670 and above this 7700. Support for the immediate term is now placed at 7520 and next support will be 7475.

CS PERFORMANCE MESSAGE:

STOCK FUTURES:

FUTURES INTRADAY:

PETRONET FUTURES BUY CALL 3 TG

JAIN IRRIGATION FUTURES SELL CALL 3 TG

ADANIENT FUTURES BUY CALL 3 TG

ARVIND LTD FUTURES BUY CALL 1 TG

PREMIUM FUTURES:

IOC FUTURES SELL CALL 3 TG

BHEL FUTURES SELL CALL SL TRIGGERED

NIFTY FUTURES:

BANK NIFTY FUTURES SELL CALL 3 TG

NIFTY FUTURES SELL CALL 3 TG

OPTION:

YES BANK 540 PUT BUY CALL 3 TG

DLF 210 PUT BUY CALL 2 TG

BANK NIFTY 15500 CALL BUY CALL SL TRIGGERED

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADY:

HINDPETRO SELL CALL 3 TG

IGL SELL CALL 3 TG

RELIANCE INFRA SELL CALL 3 TG

JUBILANT LIFE SCIENCE BUY CALL 1 TG

BERGER PAINT SELL CALL COST EXIT

STOCK CASH PREMIUM:

ALLAHABAD BANK SELL CALL 2 TG

TOP CORPORATE NEWS

·        BPCL, HPCL shares surge on crude oil prices

Shares of Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation are down between 3-4% on increasing crude oil prices. Crude oil was near nine-month highs early as escalating civil war in Iraq.

·        L&T Construction wins orders worth Rs1027 Cr

L&T Construction has won new orders worth Rs1027 crore across various business segments in May and June 2014.

·        GAIL to invest Rs 141 cr in CNG highway corridor in UP

GAIL India Ltd signed an agreement to invest Rs 141 crore in building CNG highway corridors in Uttar Pradesh. GAIL Gas signed a memorandum of understanding (MoU) with Uttar Pradesh State Industrial Development Corp.

·        IOB seeks Rs 3,500 crore capital support from govt

Indian Overseas Bank has requested the government to provide a capital support of Rs 3,500 crore during the current fiscal. Last fiscal, the government infused Rs 1,200 crore in the bank to enhance its capital base.