Browse Category: Agri Commodity Market Tips

Equity Indices Close to Red as Investors Book Profits

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Breaking a three-day streak of closing at record highs, the two key Indian equity indices on Tuesday provisionally closed in the negative zone.

According to market observers, the key indices retreated from their record high levels as investors booked profits in almost all the sectors, except the IT and Teck (technology, media, and entertainment) indices which closed with robust gains.

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The wider Nifty50 of the National Stock Exchange (NSE) fell by 41.10 points or 0.38 percent to provisionally close (at 3.30 p.m.) at 10,700.45 points.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at a fresh high of 34,877.71 points, closed at 34,771.05 points — down 72.46 points or 0.21 percent — from its previous session’s close.

The BSE market breadth was bearish as 2,228 stocks declined as compared to 748 advances.

On Monday, easing inflation, coupled with an optimism surrounding quarterly corporate earnings, pushed the key indices higher, with the NSE Nifty50 index crossing the 10,700-mark for the first time.

The Nifty50 rose by 60.30 points or 0.56 percent to close at a fresh level of 10,741.55 points, while the Sensex closed at a record high of 34,843.51 points — up 251.12 points or 0.73 percent.


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Oil prices near three-year highs, supported by healthy demand

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Brent crude prices consolidated recent gains at around $70 a barrel on Tuesday, a level not seen since 2014’s dramatic oil market slump.

Prices have been driven up by production curbs in OPEC nations and Russia, as well as strong demand thanks to healthy economic growth.

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Brent crude futures dipped 26 cents, or 0.4 percent, to $70 per barrel by 0624 GMT on Tuesday from the previous day’s close. But traders said Brent was well supported overall around this level.

Brent hit $70.37 a barrel on Monday, a December 2014 high, when markets were at the beginning of a three-year-long slump.

U.S. West Texas Intermediate (WTI) crude futures were at $64.48 a barrel, up 18 cents, or 0.3 percent from their last settlement. WTI hit a December-2014 peak of $64.89 a barrel in early trading.

Oil has been pushed higher by an effort led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to withhold production since January last year. The cuts are set to last through 2018.

The restraint has coincided with healthy oil demand, pushing up crude by almost 15 percent since early December.

“This rally has been driven first by robust fundamentals, with strong demand growth and high OPEC compliance accelerating,” U.S. bank Goldman Sachs said in a note on Tuesday.

“We see increasing upside risks to our $62 per barrel Brent and $57.5 per barrel WTI forecast for the coming months,” it added.

Other U.S. banks, including Bank of America Merrill Lynch and Morgan Stanley, have already upped their price forecasts.

“We have updated our supply/demand balances to reflect a faster-than-expected tightening in the global oil market due to improving cyclical conditions, cold winter weather, and higher than expected OPEC compliance,” Bank of America Merrill Lynch said.

“We now see a deficit of 430,000 barrels per day (bpd) in 2018 compared to 100,000 bpd prior, and thus see Brent crude oil prices averaging $64 per barrel in 2018 compared to $56 prior. Our WTI projection also moves up from $52 per barrel to $60 per barrel for the same reasons,” the bank said.

Morgan Stanley said “oil markets were 0.5 million bpd undersupplied in 2017,” adding that 2018 would still see a 200,000 bpd deficit.

It expected Brent to rise to around $75 per barrel by the third quarter of this year.

A major factor holding back crude prices in 2017, the surge in U.S. production, has stalled at least temporarily as icy winter weather in North America has shut down some facilities.

Instead of hitting 10 million bpd this month, as widely expected, U.S. production fell from 9.8 million bpd in December to 9.5 million bpd currently.

However, most analysts still expect U.S. production to break through 10 million bpd soon.


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Airbus revises average List prices by 2%

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European aircraft maker Airbus has said that it has revised upwards the average list- prices by 2 percent across products product lines. The new prices come into effect from January 1. As per reports, all major domestic carriers with the exception of no-frills SpiceJet are either only Airbus planes or have a mix of both Airbus and Boeing planes in their fleet. Commenting on the issue, John Leahy, a chief operating officer of commercial aircraft at Airbus said, “Airbus has increased the average list-prices by 2 percent across the product line, effective January 1.”

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Commenting on the new prices, John Leahy, a chief operating officer of commercial aircraft at Airbus said: “the new pricing reflects our continuous investments into aircraft programmes to maximise their value for our customers’ satisfaction.” As per reports, Indian airlines are likely to induct over 900 aircraft in the coming years, with IndiGo, which is the largest customer for the plane-maker in the country, alone expected to add 448 planes.


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Sensex turns negative, Nifty around 10,700; PSU banks Fall

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TCS, Wipro, and HCL Tech are the top gainers, while BHEL, Coal India, and Tata Power have lost the most.

11:00 am Market Check: Equity benchmarks have given up all the gains and have turned negative. The Nifty has breached 10,750. The Sensex is down 50.37 points or 0.14% at 34793.14, and the Nifty down 29.20 points or 0.27% at 10712.30.

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TCS, Wipro, and HCL Tech are the top gainers, while BHEL, Coal India, and Tata Power have lost the most.

10:55 am Big names vie for Binani Cement: Ace investor Rakesh Jhunjhunwala and D-Mart promoter Radhakishan Damani are teaming up to bid for the debt-ridden Binani Cement, according to reports.

“The partnership between Jhunjhunwala and Damani is a big surprise,” sources said. “If you look at the list of bidders, it appears that competition will only intensify and lenders may not have to take any haircut,” the source added.

UltraTech, Heidelberg, the JSW Group, Dalmia Bharat and The Ramco Cements have made proposals on their own or in partnerships to attain the assets of the firm on the last day of submitting the bids, according to the sources.


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Indian ADRs: ICICI Bank gains 2.2%; Dr. Reddy’s Lab, HDFC Bank up

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Indian ADRs ended mostly higher on Friday. HDFC Bank added 1.07 percent and Tata Motors was up 0.09 percent.

Indian ADRs ended mostly higher on Friday. In the banking space, ICICI Bank gained 2.25 percent at USD 9.98 and HDFC Bank added 1.07 percent at USD 102.43.

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In the IT space, Infosys shed 2.66 percent at USD 16.81 and Wipro was down 0.70 percent at USD 5.68.

In the other sectors, Tata Motors was up 0.09 percent at USD 34.32 and Dr. Reddy’s Laboratories rose 0.34 percent at USD 38.20. 


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Indian Rupee opens lower by 11 paise at 63.60 per Dollar

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The expected Rupee to continue to appreciate and expect the USD-INR to trade within a range of 63.40-63.60, says Ripples Advisory Private Limited.

The Indian Rupee opened lower by 11 paise at 63.60 per Dollar on Tuesday versus previous close 63.49.

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The Euro had started moving higher post the ECB meeting and consequently, the US Dollar has now moved below 91 levels now.

Expect the Rupee to continue to appreciate and expect the USD-INR to trade within a range of 63.40-63.60.

The expectation of a rate cut has receded. The 10-year benchmark yield has been flat for a couple of days and expects it to trade within a range of 7.43-7.46 percent,” he added.

The Dollar remained under pressure though it has marginally gained versus the Japanese yen after disappointing producer price index figures from Japan. Meanwhile, the euro held on to overnight gains.


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Need $300 bn investment to double refinery capacity: Dharmendra Pradhan

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India needs investment to the tune of 300 billion Dollars in the next 10 years to double its oil refining capacity, Union Petroleum Minister Dharmendra Pradhan said. “Oil refining capacity in the country stands at over 247 million ton at present and demand for petrol products, which is rising rapidly, will touch 600 million ton by the year 2040,” Pradhan said while inaugurating the 22nd Refining and Petrochemicals Technology Meet.

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Noting that the country has built a robust refining and petrochemicals sector over the years, the minister said several brownfield projects are already in the pipeline for creating capacities of around 142 million tons. Pradhan said two major greenfield projects are all set to be launched to add 69 million ton of new refining capacities soon. The Barmer Refinery in Rajasthan will be of 9 pm, while the West Coast Refinery and Petrochemicals will create 60 million ton capacity.

To achieve the target of 600 million ton capacity, it is necessary to add over 20 million ton almost every year, he said. “I am confident that the country will march ahead to achieve the goal for which investment to the tune of 300 billion Dollars in hydrocarbon sector will be required,” the minister said. Emphasising the need for a state-of-the-art refining and petrochemical industry, he said it is necessary to concentrate on research and development in the public sector. “I expect much more because I know your capacities. We can do much better.

There should also be healthy competition among oil refineries,” Pradhan said, indicating that he was not satisfied with the R&D activities. Asserting that the oil refinery sector will continue to grow despite challenges from increasing use of automation, digitization, robotics, electric vehicles and artificial intelligence, he said, “We believe in the human intelligence and well-trained human resource”.

Speaking at the three-day meet, Ambassador of Japan, Kenji Hiramatsu said his country would make an investment of 10 billion USD in the LNG sector in India, as cooperation and business ties between the two countries are expanding. Referring to Odisha, Hiramatsu said cooperation between Odisha and Japan would be further strengthened in many areas.

Around 900 oil industry professionals from India and abroad are attending the event, being organized by the Centre for High Technology (CHT), a satellite organization of Ministry of Petroleum and Natural Gas, in association with Indian Oil Corporation Ltd. The theme of the meet is ‘Emerging Trends in Downstream Hydrocarbon Sector’.


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थोक महंगाई दर घटी, दिसंबर में घटकर 3.58%

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दिसंबर में थोक महंगाई के मोर्चे पर राहत मिलती दिखी है। दिसंबर में थोक महंगाई दर नवंबर के 3.93 फीसदी से घटकर 3.58 फीसदी रही है। बता दें कि नवंबर की डब्ल्यूपीआई संशोधित करके 3.68 फीसदी कर दी गई है। महीने दर महीने आधार पर दिसंबर में डब्ल्यूपीआई कोर महंगाई 3 फीसदी से बढ़कर 3.1 फीसदी रही है।

महीने दर महीने आधार पर दिसंबर में मैन्यूफैक्चरिंग सेक्टर की थोक महंगाई दर बिना किसी बदलाव के 2.61 रही है। जबकि इस अवधि में खानेपीने की चीजों की थोक महंगाई दर नवंबर के 4.10 से घटकर 2.91 फीसदी रही है। महीने दर महीने आधार पर दिसंबर में प्राइमरी ऑर्टिकल्स की थोक महंगाई दर 5.28 फीसदी से गिरकर 3.86 फीसदी पर गई है।

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महीने दर महीने आधार पर दिसंबर में सब्जियों की थोक महंगाई दर 59.80 फीसदी से गिरकर 56.46 फीसदी पर गई है। वहीं नानफूड ऑर्टिकल्स की थोक महंगाई दर नवंबर के -0.68 फीसदी के मुकाबले -0.34 फीसदी पर रही है। हालांकि महीने दर महीने आधार पर दिसंबर में फ्यूल, पावर की थोक महंगाई दर 8.82 फीसदी से बढ़कर 9.16 फीसदी पर गई है। जबकि मांसमछली और अंडे की थोक महंगाई दर 4.73 फीसदी से घटकर 1.67 फीसदी पर गई है।

 

खूब भागेगा बाजार, जमकर बनेगा पैसा

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अभी तो शुरुआत है, देश में बहुत बड़ा बुल मार्केट चल रहा है और 4-5 साल में बाजार बहुत बड़ी ऊंचाई हासिल करेगा। भारतीय बाजारों पर ग्लोबल रैली का असर देखने को मिल रहा है। भारतीय बाजार अच्छे घरेलू और ग्लोबल संकेतों के बीच 11000 की तरफ भाग रहा है।

आगामी बजट में ग्रामीण क्षेत्रों और इंफ्रा पर फोकस होगा और बजट तक यही दोनों सेक्टर आउटपरफार्म भी करेंगे। उन्होंने आगे कहा कि बाजार में लीडरशिप चेंज हुई है और अब इसको बैंक निफ्टी से सहारा मिल रहा है।

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Asian shares gain as the Dollar remains on the Back Foot

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The Nikkei 225 rose 0.54 percent as technology and financial names rose early in the session. Automakers proved to be a mixed picture.

Major indexes in Asia notched gains on Monday after Wall Street closed out last week at records and the dollar remained on the back foot.

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The Nikkei 225 rose 0.54 percent as technology and financial names rose early in the session. Automakers proved to be a mixed picture.

Shares of SoftBank Group jumped 4.26 percent following news from Nikkei Asian Review that the company aimed to list SoftBank Corp., its mobile arm, both in Tokyo and abroad this year. The listing could raise around 2 trillion Yen ($18 billion) for the company, Nikkei added.

SoftBank said in a statement the listing of its mobile unit was an option for the company, but that no official decision had been made.

Across the Korean Strait, the Kospi tacked on 0.34 percent in early trade. Heavyweight Samsung Electronics, which had fallen for most of last week on the release of poorer-than-expected profit guidance, added 1.16 percent. Other tech names, however, were in negative territory, with SK Hynix declining 1.34 percent.

Meanwhile, bitcoin-exposed stocks retraced losses seen last week following news about a potential ban on cryptocurrency trading in South Korea. Omnitel rose 21.31 percent and Kakao advanced 3.2 percent.

Sydney’s S&P/ASX 200 rose 0.34 percent, with the materials and gold producer sectors among the best-performing in early trade. Major miners BHP and Rio Tinto were up 1.21 percent and 1 percent, respectively.

Gold producers were also in positive territory on strength in the yellow metal linked to dollar softness. Newcrest Mining rose 2.66 percent and Evolution Mining was up 4.69 percent.

MSCI’s broad index of shares in the Asia Pacific excluding Japan on Monday recorded a fresh record high, clearing a more than the 10-year peak of 591.50. The index was up 0.25 percent at 591.65 at 8:05 a.m. HK/SIN.

US stocks touched record levels on Friday after major banks, including J.P. Morgan and Wells Fargo, announced better-than-expected quarterly reports. Earnings season kicked off last week and is expected to be robust, with fourth-quarter S&P 500 profits forecast to increase 11.2 percent, according to UBS.

The Dow Jones industrial average advanced 0.89 percent, or 228.46 points, to close at a record high of 25,803.19.

U.S. markets will be closed on Monday for Martin Luther King, Jr. Day.

Meanwhile, data released Friday showed US consumer prices excluding food and energy rose 0.3 percent in December from the prior month, beating the 0.2 percent forecast in a Reuters poll. Retail sales for December rose 0.4 percent compared to the month before while November figures were adjusted upwards.

The Dollar index, which tracks the US currency against a basket of six currencies, was flat at 90.900 at 8:46 a.m. HK/SIN. That was below the close of 90.902 last session despite the positive consumer price read on Friday. The index had traded at levels around the 92 handle at the beginning of last week.

The Euro was mostly steady at USD 1.2188, trading near its highest levels in around three years. The common currency advanced following Friday news that German Chancellor Angela Merkel had made progress on the formation of a coalition government. It also followed the release of European Central Bank minutes earlier last week that had been interpreted as hawkish by markets.

Against the Yen, the greenback traded at 111.03.

Corporate news

In other public offering news, online finance platform Lufax aims to list in Hong Kong in April, the South China Morning Post reported on Friday, citing anonymous sources. Lufax’s potential IPO would come hot on the heels of other “new economy” companies in Hong Kong last year, including online-only insurer ZhongAn Online Property & Casualty Insurance.


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