MORNING TREND

GOLD
SUPPORT: 29000/29150
RESISTANCE: 29350/29600
TREND: UP

SILVER
SUPPORT: 36250/36650
RESISTANCE: 36950/37250
TREND: UP

CRUDE OIL
SUPPORT: 2580/2620
RESISTANCE: 2660/2700
TREND: UP

COPPER
SUPPORT: 301/305
RESISTANCE: 309/313
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MARKET COMMENTARY 8 APRIL 2016

Equity benchmarks ended flat on Friday. The Sensex declined 11.58 points to 24673.84 while Nifty rose 8.75 points to 7555.20. The broader markets gained 0.6 percent as about 1468 shares advanced against 1052 declining shares on BSE. Lupin, M&M, NTPC and BHEL rallied 2-4 percent while TCS, Infosys, HUL, Axis Bank and Hero Motocorp lost 1-1.7 percent.
Tamil Nadu-based company has produced 9,784 tonnes of sugar in March, higher by 39.5 percent compared to 7,014 tonnes of sales in same period last year from its three units while production declined 11 percent in same period. Rajshree Sugars has three units in Coimbatore (Tamil Nadu) – Varadarajnagar (unit 1), Mundiyampakkam (unit 2) and Semmedu village (unit 3). Unit 1 sales increased sharply by 431 percent and unit 2 showed a massive 125 percent growth but sales from unit 3 dropped nearly 26 percent on year-on-year basis in March. In same period, production shot up 57 percent from unit 1 but declined 12 percent and 32 percent from unit 2 and 3, respectively.
In March, won a Rs 227 crore order for project management consultancy (PMC) taking its total order book for FY16 to Rs 18,000 crore. The company’s total order book stands at Rs 38,000 crore, said Anoop Kumar Mittal, CMD of the company. Speaking to CNBC-TV18, Mittal said that most of the projects are in re-development segment and the company plans to complete most of them by September next year. NBCC is targeting atleast 25 percent growth in first quarter of FY17, Mittal added. Speaking on the company’s recent acquisition of Hindustan Steelworks Construction, Mittal said that NBCC will take over its order book alongwith some negligible debt.

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