Lead futures dip on subdued demand

Lead futures were trading lower during the afternoon trade in the domestic market on Tuesday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for September 2017 contract is trading at Rs 152.30 per kg, down by 0.13 per cent, after opening at Rs 151.90, against a previous close of Rs 152.50. It touched the intra-day low of Rs 151.65.

                            MCX COMMODITY TIPS

SELL COPPER BELOW 423 TGT 421 SL ABOVE 426

SELL CRUDE OIL BELOW 3225 TGT 3195 SL ABOVE 3161 

FOR MORE INFORMATION PLEASE VISIT OUR WEBSITE: www.tradeniveh.com

White metal up amid robust global cues

Silver futures were trading higher during the afternoon trade in the domestic market on Wednesday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.

At the MCX, silver futures for December 2017 contract was trading at Rs 41380 per kg, up by 0.40 per cent, after opening at Rs 41242, against a previous close of Rs 41,216. It touched the intra-day high of Rs 41,434.

                                        FREE COMMODITY TIPS 
 


FOR MORE INFORMATION PLEASE VISIT OUR WEBSITE: www.tradenivesh.com

Gold, silver decline in morning session

Gold prices were trading in red during the morning trade on Tuesday on the account of weak trend overseas and subdued demand from local jewellers.

MCX Gold was down 0.31%, or Rs 94, at Rs 29,839 per 10 gram around 1035 hours, whereas MCX Silver was down 0.33%, or Rs 134, at Rs 41,030 per 1 kg.

The market participants expect that gold to trade sideways on Tuesday due to profit booking after the recent rally. While stronger dollar index and less damage by Hurricane IRMA are factors pushing down the gold prices.

Latest holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, declined 0.3% to 834.50 tonnes till September 8. Holdings of the largest silver-backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10,173.58 tonnes, remain unchanged from the previous business day.

Meanwhile, BSE Sensex was up 168 points, or 0.53%, at 32,050, while Nifty was up 47 points, or 0.47 per cent, at 10,053.

                                            
                                            MCX COMMODITY TIP

FOR MORE INFORMATION PLEASE VISIT OUR WEBSITE: www.tradenivesh.com

Essar Oil announces $250 mn capex for UK refinery

Ruia brothers led Essar Oil UK on Wednesday announced its plans to invest $250 million in capital expenditure and maintenance at Stanlow refinery to boost production and revenues.

"Major investment in 2018 will increase annual throughput from 68 million to 75 million barrels," the company said in a release here. 

Essar Oil UK Non-Executive Chairman Prashant Ruia in a statement said the major investment "we have confirmed in Stanlow will materially increase throughput and further grow revenues, building on the tremendous progress we have made in turning around the business over the past six years".

"Essar has committed this year to a significant multi-million dollar capex investment in the Tiger Cub project at Stanlow to deliver improved yields across the product slate and drive revenue growth," Chief Executive Officer S. Thangapandian said.

Essar Oil UK owns and operates the Stanlow refinery complex, which produces over 16 per cent of transport fuels in the UK, the company said.

 

BUY ALUMINIUM ABOVE 133.30 TGT 133.80-134.50-135.50 SL BELOW  132.50 CMP 133.30 

 

 For more information please visit our website on: www.tradenivesh.com