Sundar Pichai Visits India

Sundar Pichai : After taking over the helm of growing Internet search giant Google as its CEO, Sundar Pichai is in India for his maiden visit.

In the course of his 2-day visit, Pichai will also meet Prime Minister Narendra Modi and President Mr. Pranab Mukherjee, with whom a state dinner has also been scheduled for tomorrow. He will also address students at Shri Ram College of Commerce tomorrow.

Pichai on Wednesday delivered the keynote address at a Google for India event, outlining the company's plans for Asia.

Herer are five takeaways from his address.

1. 100 railway stations to have wi-fi by Dec 2016 in partnership with Railtel.

2. Mumbai Central to go live by January.

3. Google will build new campus, ramp up engineering presence in Hyderabad to make products for India

4. Google will up hiring in Bengaluru.

5. Google will help women from three lakh villages all over India to get online in three years.

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Zinc futures Ended Lower in the Domestic Market

Zinc futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid soft physical demand for Zinc in the domestic spot market.

Further, fears that a worsening outlook in China, the world’s Huge metals consumer, may curb the demand for the industrial metal also weighed on sentiment as China’s factories remained in contraction mode as the China official PMI came in at 49.8 in September, tad below the neutral 50-mark, a sign that the country’s slowdown isn’t easing any time soon. Deepening factory-gate deflationary spiral, weak external demand and industrial overcapacity are weighing down China’s factories, raising fears that the economy may miss the 7 % growth target for this year.

At the MCX, Zinc futures for September 2015 contract closed at Rs 110.65 per 1 kg, down by 0.45 per cent after opening at Rs 111.55, against the previous closing price of Rs 111.15. It touched the intra-day low of Rs 110.05.

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Mcx Commodity Tips and updates for 9 July 2015

Mcx Commodity Tips : Scripting a smart rebound, the yellow metal bounced back on Wednesday as heightened turmoil in China’s equities and fears that Greece may be pushed out of the euro bolstered safe haven demand for Gold. China’s stock market rout showed no signs of easing with the Shanghai Composite bleeding nearly 6 per cent on Wednesday, defying government measures to arrest a near four-week slump in equities. Late Wednesday, China banned major shareholders from selling stakes in listed companies, the latest in a series of measures undertaken by policymakers that have included interest rate cuts to loosening of bank’s reserve requirements and suspension of new share sales to restore confidence in the country’s stock market that has eroded more than USD 3 trillion in value. Meanwhile, Greece has until Thursday night to submit fresh economic reform measures including spending cuts to press for a new bailout and convince European leaders to keep the cash-strapped country in the euro. Greece on Wednesday made an official request for a three-year bailout from Europe’s. The FOMC minutes which highlighted risks from Greece to China, to the US economy stressed that officials are awaiting a further evidence of stronger economic growth including a pickup in consumer spending before deciding to tighten policy. Gold may extend gains today on expectations of delayed US rate lift-off while awaiting Greece’s response to Europe’s calls for a wave of new reforms to win new bailout aid.

At the MCX, Gold futures for August 2015 contract closed at Rs 26,213 per 10 gram, up by 0.70 per cent after opening at Rs 26,008, against the last closing price of Rs 26,032. It touched the intra-day high of Rs 26,248 till the closing.

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Mcx Commodity Tips and Updates for 18 June 2015

Jeera prices closed lower by 0.58 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At NCDEX, jeera futures for June 2015 contract closed at Rs. 16,300 per quintal, down by 0.58 per cent, after opening at Rs. 16,510 against the previous closing price of Rs. 16,395. It touched the intra-day low of Rs. 16,240.

Barley prices closed higher by 0.24 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of strong demand from beer and cattle-feed making industries against restricted supply in physical markets. At NCDEX, barley futures for June 2015 contract closed at Rs. 1,250 per quintal, up by 0.24 per cent, after opening at Rs. 1,250 against the previous closing price of Rs. 1,247. It touched the intra-day high of Rs. 1,251.

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Mcx Commodity tips and Updates for 8 June 2015

Mcx commodity tips : Mustard Seed prices closed lower by 1.37 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At NCDEX, Mustard Seed futures for June 2015 contract closed at Rs. 4,188 per quintal, down by 1.37 per cent, after opening at Rs. 4,227 against the previous closing price of Rs. 4,246. It touched the intra-day low-lying of Rs. 4,176.

Jeera prices closed lower by 4 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export desired. At the NCDEX, jeera futures for June 2015 contract closed at Rs. 16,815 per quintal, down by 4 per cent, after opening at Rs. 17,480 against the previous closing price of Rs. 17,515. It touched the intra-day low of Rs. 16,815.

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Agro Outlook Updates and News for 28/ May 2015

Mcx commodity tips : Chana prices closed higher 1.12 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At NCDEX, chana futures for June 2015 contract closed at Rs. 4,675 / quintal, up by 1.12 per cent, after opening at Rs. 4,630 against the previous closing price of Rs. 4,623. It touched the intra-day high of Rs. 4,675. 

Jeera prices closed lower by 0.06 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for July 2015 contract closed at Rs. 17,900 per quintal, down by 0.06 per cent, after opening at Rs. 17,860 against the previous closing price of Rs. 17,910. It touched the intra-day low of Rs. 17,855.

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ENERGY UPDATES AND BASE METALS FOR 27 MAY 2015

Mcx commodity tips: Natural Gas futures closed lower in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity amid fading forecasts for a heat wave in the US East Coast, dimming the outlook for a pickup in the demand for the fuel which is used for firing-up power plants as cooling demand at offices and homes arises.

At the MCX, Natural Gas futures for May 2015 contract closed at Rs 179 per 1 kg, down by 0.33 per cent after opening at Rs 180, against the previous closing price of Rs 179.60. It touched the intra-day low of Rs 177.80 till the closing.

Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Home prices in the US rose at a quicker than expected pace in the year to March 2015 while sales of new homes climbed more than expected in April, signaling a pickup in the housing market of the world’s biggest economy, lifting the demand outlook for industrial metals. US home prices climbed 5 per cent in the 12 months to March 2015, topping the 4.8 per cent gain estimated by analysts. Moreover, sales of new homes climbed 6.8 % to a 517,000 annualized pace in April 2015.

At the MCX, Zinc futures for May 2015 contract closed at Rs 139.45 per 1 kg, up by 1.12 per cent after opening at Rs 138.35, against the last ending price of Rs 137.90. It touched the intra-day maximum of Rs 140.10 till the closing.

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DAILY NCDEX COMMODITY MENTHA OIL REPORT FOR 23/06/2014

Precious Metals

D A I L Y B U Z Z

GOLD 
Gold futures prices rose 0.23 per cent to Rs 27,720 per 10 grams today as speculators engaged in enlarging their positions after precious metal rose to two-month high in global markets.

At the Multi Commodity Exchange gold for delivery in far-month October rose by Rs 63, or 0.23 per cent, to Rs 27,720 per 10 grams with a business turnover of 9 lots.

In a similar fashion, the metal for delivery in August contracts moved up by Rs 39, or 0.14 per cent, to Rs 27,650 per 10 grams with a trade volume of 629 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as expectations that borrowing costs in the US will remain low, fueled demand for bullion as an alternative investment.

Meanwhile, gold climbed to USD 1,322.12 an ounce in Singapore, the highest level since April 15, after a 3.3 per cent jump yesterday that was the biggest increase since September last year. 

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Commodity updates: Copper futures were trading in the red 22 May 2015

Commodity updates: Copper futures were trading in the red in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after a plunge in the sales of previously owned homes in the US signaled a cooling housing market recovery in the world’s biggest economy, clouding the demand outlook for copper.

Sales of existing US homes fell 3.3 per cent to a 5.04 million annualized pace in April from the previous month, data showed on Thursday.

At the MCX, Copper futures for June 2015 contract is trading at Rs 402.50 per 1 kg, down by 0.09 per cent after opening at Rs 402.60, against the previous closing price of Rs 402.85. It touched the intra-day low of Rs 402.20

Mentha oil futures erased last session’s bears and traded in strong mode during the early hours of trading on Multi Commodity Exchange [MCX] Monday on technical correction. 

Benchmark February contract in futures gained Rs 23.40 at Rs 1,090 a kg, budging in the range of Rs 1,094.40-1,075 a kg at 10:31 am IST. Volume of the contract stood at 812 lots so far.

Forward March contract traded Rs 23.60 up, at Rs 1,095 a quintal, and moved in the range of Rs 1,099-1,082. Volume of the contract so far was 233 lots.

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Domestic oil seed and edible oil close mix

Mcx commodity tips: Natural Gas traders exited positions in the energy commodity with prices of the weather-sensitive fuel ending lower by about 1 per cent in the domestic market on Tuesday amid concerns that an above normal supply build may erase a deficit to the five-year average. Analysts expect a 99 billion cubic feet uptick in US gas stockpiles last week, compared to a five-year average of 89 billion cubic feet. The EIA’s storage report is due on Thursday. However, weather forecasts remain supportive with above-normal temperatures across the eastern half of the US likely to bolster cooling demand for the fuel.

At the MCX, Natural Gas futures for May 2015 contract closed at Rs 189.7 per 1 kg, down by 0.99 per cent after opening at Rs 191.90, against the previous closing price of Rs 191.60. It touched the intra-day low of Rs 187.8 till the closing.

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Mcx commodity tips: A resurgent US dollar took toll on Crude oil

Mcx commodity tips: A resurgent US dollar took toll on Crude oil as energy traders indulged in a massive sell-off in the fuel in the domestic and overseas market on Tuesday, pulling prices down by more than 3 per cent. Stronger dollar curbed the demand for the fuel as an alternative asset. Stronger greenback makes oil more expensive for those holding other currencies, thus dimming demand.

The dollar strengthened after better than expected US housing data eased concerns over a slowdown in the world’s biggest economy, powering the lure for risky assets. US housing starts surged to the highest level in more than seven years, up 20.2 per cent to a 1.14 million annual rate in April 2015.

Despite severe fighting in Syria, Yemen and Iraq, with Islamic State Militants strengthening their foothold in Libya, crude supplies from the oil-rich Middle East are increasing, exasperating fears over a global supply glut. Saudi Arabia, the world’s biggest oil producer, said that the country pumped in a record 10.3 million barrels per day of oil in March.

However, US supplies continued to ease, with oil stockpiles falling 5.2 million barrels in the week ended May 15, 2015, the American Petroleum Institute (API) reported late Tuesday.

Oil may rebound today as government data shows a further dip in US crude oil stockpiles.

At the MCX, Crude oil futures, for the June 2015 contract, closed at Rs 3,737 per barrel, down by 3.11 per cent, after opening at Rs 3,859, against the previous close price of Rs 3,857. It touched an intradaylow of Rs 3,728 till the closing.

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