Tuesday 22 April 2014

COMMODITY MARKET TRENDS 23 April 2014

BASE METAL WRAP: 
Nickel climbed to a 14-month high on concern the collapse of an accord to ease tension between Ukraine and Russia may lead to disruptions in global supply that was already curbed by an Indonesia export ban.

ENERGY WRAP: 
West Texas Intermediate traded near a two-week low as a manufacturing gauge signaled a fourth month of contraction in China, the world’s second-biggest oil user. Brent was steady in London.

PRECIOUS METAL WRAP: 
Gold traded above a 10-week low as improvements in the U.S. economy were weighed against tension in Ukraine and signs of higher demand in China. Assets in the largest exchange-traded product held at the lowest in 12 weeks.

GLOBAL EVENTS TO WATCH: 
CPI q/q, HSBC Flash Manufacturing PMI, French Flash Manufacturing PMI, German Flash Manufacturing PMI, MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, Core Retail Sales m/m, Flash Manufacturing PMI, New Home Sales, Crude Oil Inventories.


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INDIAN COMMODITY MARKET OUTLOOK- 23 April 2014


INDIAN BENCHMARK open flat amid lacklustre Asian cues and investors are likely to turn cautious with April derivative contracts set to expire today.

FURTHER, Reliance Industries will be in focus as the Supreme Court resumes hearing plea on KG-D6 gas pricing. Tata Motors is in talks with banks for raising $300 mn (Rs 1,800 crore) through dollar-denominated bonds.

Trend in FII flows: The FIIs were net buyers of Rs.162cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 298cr, as per the provisional figures released by the NSE.
 

CS PERFORMANCE MESSAGE:

STOCK FUTURES:

FUTURES INTRADAY:
BPCL FUTURES BUY CALL 3 TG
HINDPETRO FUTURES BUY CALL 2 TG
HINDALCO FUTURES BUY CALL 1 TG
RELIANCE INFRA BUY CALL 1 TG
HCL TECH FUTURES BUY CALL EXIT NEAR COST

PREMIUM FUTURES:
MRF FUTURES SELL CALL 3 TG
HINDPETRO FUTURES BUY CALL 3TG
JSW STEEL FUTURES BUY CALL 2 TG

NIFTY FUTURES:

OPTION:
BPCL 470 CALL BUY CALL 3 TG
HINDPETRO 320 CALL BUY CALL 3 TG
L&T 1320 CALL BUY CALL 3 TG

OPTION PREMIUM:
JSW STEEL 1100 CALL 1 TG

STOCK CASH:

STOCK CASH INTRADY:
STC INDIA BUY CALL 3 TG
HINDPETRO BUY CALL 2 TG
JSW HOLDINGS BUY CALL 1TG

STOCK CASH PREMIUM:
SKS MICRO FINANCE BUY CALL 3 TG
LIC HOUSING FINANCE BUY CALL 1TG

INDIAN BENCHMARKS end flat ahead of April F&O expiry


INDIANBENCHMARKS closed flat with negative bias as investors turned cautious ahead ofthe expiry of April derivative contracts on tomorrow.

Further, HDFC Bank fourth quarter(January-March) net profit rising 23 percent year-on-year to Rs 2,326 crore,driven by higher other income and fall in provisions. MRF tumbled 7.7%after net profit declined 18.86% to Rs 170.87 crore on 13.66% growth in totalincome to Rs 3309.66 crore in Q2 March 2014 over Q2 March 2013.

Thecrucial resistance for Nifty is now seen at 6850 and above this 6900.Support for the immediate term is now placed at 6700 and next supportwill be 6650.

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TOP CORPORATE NEWS


Gujarat Gas falls 6.5% on merger plan between co and 4 arms

Gujarat Gas Company has dipped over 5% on profit booking after its board approved the amalgamation and arrangement between group companies.

Glenmark Pharma declines after losing appeal on Tarka patent

Glenmark Pharmaceuticals has dipped nearly 3% after the company has lost its appeal to invalidate Abbott Laboratories' TARKA (trandolapril/verapamil hydrochloride) patent

HDFC Bank Q4 net up 23% 


HDFC Bank fourth quarter (January-March) net profit rising 23 percent year-on-year to Rs 2,326 crore, driven by higher other income and fall in provisions. Asset quality was stable during the quarter.

MRF slumps after poor Q2 earnings

MRF tumbled 7.7% after net profit declined 18.86% to Rs 170.87 crore on 13.66% growth in total income to Rs 3309.66 crore in Q2 March 2014 over Q2 March 2013.