Oil prices steady after five days of declines, but sentiment bearish

Oil prices edged up in early trading on Friday, stabilising after five straight days of falls triggered by a surge in U.S. crude inventories and doubts over the ability of oil producers to coordinate an  output cuts.

International Brent crude oil futures were trading at $46.50 per barrel at 0036 GMT, up 15 cents, or 0.3 %, from their last close.

U.S. West Texas Intermediate (WTI) futures were at $44.83, up 17 cents, or 0.4 %.

Despite the slight increases, traders said market sentiment was bearish. Brent futures fell for the past five straight trading sessions and is down about 13.5 % since its most recent peak in mid-October.

Analysts said markets were also weighed down by traders pulling out money from crude futures ahead of the upcoming U.S. presidential elections, which are seen as a risk to global markets.

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जीएसटी से इन स्टॉक्स को होगा फायदा, अच्छे रिटर्न के लिए लगाएं दांव

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जीएसटी काउंसिल ने गुरुवार को टैक्स स्लैब का ऐलान कर दिया है। जीएसटी के टैक्स स्लैब ऐलान से मार्केट में जीएसटी स्टॉक्स में हलचल देखने को मिल सकती है। दरअसल मार्केट में संकेत गए हैं कि सरकार समय से जीएसटी को लागू कर सकती है। जानिए गुरुवार के फैसले का जीएसटी स्टॉक्स पर क्या हो सकता है असर
मैन्युफैक्चरिंग सेक्टर को होगा फायदा
क्रिस रिसर्च के सीईओ अरुण केजरीवाल के मुताबिक जीएसटी से मैन्युफैक्चरिंग सेक्टर को सबसे ज्यादा फायदा होने की उम्मीद हैं। उनके मुताबिक फिलहाल मैन्युफैक्चरर्स 27 से 30 फीसदी तक टैक्स तक टैक्स चुका रहे हैं। ऐसे में सेक्टर के अधिकांश प्लेयर पर टैक्स बोझ घटने की उम्मीद है। इसके साथ ही लॉजिस्टिक सेक्टर के लिए लागत भी कम होगी, कंपनियों को जगह जगह वेयरहाउस खोलने की जरूरत भी नही रहेगा। इससे न केवल लॉजिस्टिक कंपनियों को फायदा होगा साथ ही ऐसे सेक्टर को भी फायदा होगा जहां कच्चे माल या कंपोनेंट और पार्ट्स के ट्रांसपोर्टेशन पर लागत ज्यादा है।
स्टॉक मार्केट पर होगा पॉजिटिव असर
के आर चोकसी के एमडी देवेन चोकसी के मुताबिक जीएसटी पर हुए ऐलान मार्केट के लिए पॉजिटिव रहेंगे। इसके साथ ही सीपीआई में शामिल आधे आइटम्स पर टैक्स न होने से आम लोगों पर फायदा होने की उम्मीद है। हालांकि मार्केट टैक्स स्लैब में शामिल प्रोडक्ट्स को लेकर तस्वीर साफ होने का इंतजार कर सकता है। वहीं सेमको सिक्युरिटीज के सीईओ जिमीत मोदी ने कहा कि स्टॉक मार्केट सरकार के द्वारा पॉलिसी को लेकर की गई हर पहल पर पॉजिटिव रिस्पॉन्स दिया है और इस बार ऐसा ही देखने को मिल सकता है। उनके मुताबिक दरों पर जल्द फैसला लेने से उम्मीद बनी है कि जीएसटी पहली अप्रैल 2017 से शुरू हो सकता है। जिमीत ने उम्मीद जताई कि इस फैसले से ग्रोथ रेट को 9 फीसदी से ऊपर ले जाने में मदद मिलेगी।

Sensex, Nifty open in Green

The market has opened in green reacting driven by gains in FMCG , majorly in ITC.
The Sensex is up 38.30 points or 0.1 percent at 27468.58 and
the Nifty is up 14.45 points or 0.2 percent at 8499.40.
About 352 shares have advanced, 156 shares declined, and 43 shares are unchanged.
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Suzuki Motor to Invest $970 Million in second Production line in Gujarat

Japan’s Suzuki Motor Corp will invest about 100 billion yen ($970.97 million) in a second vehicle production line at its new plant in Gujarat, even before operations have begun, the Nikkei business daily reported on Friday. The second line could debut in early 2019, the report said, and will manufacture the same yearly volume as the first production line, which is slated to debut in 2017.
The addition of the production lines are expected to increase Suzuki’s manufacturing capacity to 2 million cars a year, the paper said. The new factory in Gujarat will manufacture models such as the Baleno hatchback, with vehicles for export also being considered due to Gujarat being a major port, Nikkei said.
Suzuki’s unit, Maruti Suzuki India , had earmarked an investment of about 185 billion rupees ($2.77 billion) for the Gujarat plan in December last year, to set up six production lines capable of producing 250,000 vehicles each, Reuters reported in December. Suzuki Motor said vehicles sales in India, its biggest market, rose 5.2 percent in the April-June period.
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UPCOMING TODAY DATA (USA)

5:00pm       Challenger Job Cuts y/y

 6:00pm       Unemployment Claims

                     Prelim Nonfarm Productivity q/q

                     Prelim Unit Labor Costs q/q

 7:15pm       Final Services PMI

7:30pm       ISM Non-Manufacturing PMI

                     Factory Orders m/m

 8:00pm       Natural Gas Storage

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Uptick in demand lifts cardamom futures by 1.46%

 Cardamom futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market.

          Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. At the MCX, cardamom futures for November 2016 contract is trading at Rs 1275 per kg, up by 1.46 %, after opening at Rs 1256.40, against a previous close of Rs 1256.60. It touched the intra-day high of Rs 1275 (at 10:27 hours).

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HNI FUTURE CALL: BUY ATLASCYCLE CASH ABOVE 390 TGT 393 398 SL 385 BELOW

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SELL SILVER @43750-@43800 TGT 43600,43350 SL ABOVE 44050 (43730 CMP)

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Gold Steady on U.S. Election Uncertainty

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Gold held steady early on Thursday, after rising as much as 1.5 percent in the previous session, as uncertainty over the outcome of the U.S. election offset signals from the Federal Reserve it could hike interest rates next month.
 FUNDAMENTALS
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* Spot gold was up nearly 0.1 percent at $1,297.48 an ounce
at 0049 GMT. The yellow metal touched a high of $1,307.76 in the previous session, its best since Oct 4.
* U.S. gold futures were down 0.8 percent at $1,298.50 per ounce.
* The Federal Reserve kept interest rates unchanged on Wednesday in its last policy decision before the U.S. election, but signalled it could hike in December as the economy gathers momentum and inflation picks up.
* Asia shares eased on Thursday as a tightening U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors fled to safer harbours.
* The dollar nursed its losses on Thursday as deepening concerns about next week’s contentions U.S. presidential election overshadowed the Federal Reserve’s latest review where policy makers signalled they were on track to hike rates next month.
* Euro zone manufacturing activity accelerated at its fastest rate in nearly three years last month, supported by a buoyant performance from Germany, while inflationary pressures showed further signs of recovery, a survey found on Wednesday.

Reliance MF to Manage Goldman Sachs MF’s Schemes from Nov 5

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Reliance Nippon Life Asset Management will manage all the schemes of Goldman Sachs Mutual Fund from November 5. Reliance Nippon Life Asset Management, in October 2015, announced takeover of global giant Goldman Sachs Mutual Fund business in India for Rs 243 crore in an all-cash deal. Goldman Sachs MF has 12 schemes in operation and will transfer them to Reliance MF.
“Unitholders are requested to note that on and from November 5, 2016, the right to manage and administer all the schemes of Goldman Sachs MF will be transferred from Goldman Sachs Asset Management (India) Pvt Ltd to Reliance Nippon Life Asset Management, the asset management company of Reliance MF,” Goldman Sachs MF said in a notice.
All the schemes of Goldman Sachs MF will also become an integral part of Reliance MF, it added.
In a circular, BSE said name of eight schemes — Goldman Sachs Gold Exchange Traded, Goldman Sachs Nifty Exchange Traded, Goldman Sachs Banking Index Exchange Traded, Goldman Sachs Liquid Exchange Traded, Goldman Sachs Nifty Junior Exchange Traded, Goldman Sachs PSU Bank Exchange Traded, Goldman Sachs Hang Seng Exchange Traded and Goldman Sachs CNX Nifty Shariah Index Exchange Traded — will also be changed. However, there is no revision in scheme name of CPSE ETF .