Currently, around 452 or 90 percent firms in Nifty 500, around 95 in Nifty Midcap 100 and 90 in Nifty Smallcap 100 are trading above the 200 DMA. Analysts say this indicates that they are potentially nearing an overbought zone
Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel by 0022 GMT while U.S. West Texas Intermediate crude was at $86.77 a barrel, down 74 cents, or 0.9%.
Traders may remain cautious ahead of critical data releases from China, while simultaneously hoping for more stimulus measures in light of consistently weak data releases and widespread losses among domestic property developers
The delayed sowing of arhar, urad, and moong are responsible for the reduction in the area under pulse cultivation
Analysts said apart from RBI intervention, the apex bank's decision to discontinue incremental Cash Reserve Ratio in a phased manner by October 7 also boosted sentiments.
Slowing demand from China coupled with rise in production and inventories means that base metals are losing favour. Adding to the woes is the fact that the Dollar index (DXY) has gained in strength and investors are keeping an eye out for the speeches from Federal Reserve. CME Fedwatch Tool suggest a 93% chance of Fed leaving rates unchanged in Sept. Manisha Gupta discusses these details with Ajay Kedia, Founder of Kedia Commodities on this episode of Commodities Corner
The Rs 10,000 crore buyback plan, equivalent to around 2.4% of outstanding shares at a maximum price of Rs 3,000 per share, boosts confidence in L&T. It remains Citi's top choice for the medium term.
According to Geojit, Maharashtra has reported total area under kharif crops, as on Monday, at 14.1 mln ha, amounting to 98.9% of the normal area of 14.2 mln ha.
Brent crude futures slid 33 cents, or 0.4%, to $89.59 a barrel by 0050 GMT, while U.S. West Texas Intermediate crude (WTI) futures declined 33 cents, or 0.4%, to $86.54.
Oil prices in the near term are overbought on the charts but the momentum is on the higher side, say market experts. They believe that if China's demand comes back strong then the crude could spike to $100, but not stay there as India and the US are headed to elections soon
Pulses prices trade firm on low sowing acreage. Sowing of Kharif pulses is lower by 8 per cent this year. This can potentially lead to a spurt in prices in the coming months as well. The combination of elevated levels of crude oil prices and rapidly weakening rupee is already seen disturbing the so far benign inflation situation. The Government Of India is also stepping in to ensure availability and affordability of pulses. How will this play out in the commodity market? Catch Manisha Gupta in conversation with Bimal Kothari, Chairman, IPGA only at Commodities Corner.
There appears to be anticipation that China’s measures and fall in coking coal costs will improve demand for steel, although there is no evidence yet at ground level.
According to Geojit, Maharashtra has reported total area under kharif crops, as on Monday, at 14.1 mln ha, amounting to 98.9% of the normal area of 14.2 mln ha.
CCI cleared Rhone Capital's proposed acquisition of a 29.9 per cent stake in RHI Magnesita NV
Oil marketing firms are grappling with a tough Q2 of FY24 as Brent crude prices rise while retail fuel prices remain stable. This is likely to affect their profits due to shrinking gross marketing margins, with a 45% drop in petrol margins in Q2.
U.S. crude oil inventories were projected to fall by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures released after market settlement.
Crude oil prices which have settled at a 10-month high, with brent crude touching that $90/bbl mark. This after Saudi Arabia and Russia decided to extend their voluntary supply cuts to the end of the year. Apart from the supply cuts the prospects of the U.S. economy avoiding a hard recession have helped lift oil demand. So will crude oil prices soar further to touch $100/barrel? And how will India which is a major crude importer be impacted? Manisha Gupta discusses the repercussions of soaring crude prices with Anuj Gupta of HDFC Securities in this edition of Commodities Conrner
According to Geojit, Farmers in Gujarat have sown kharif crops over 8.45 mln ha as of today, up 1.5% from 8.32 mln ha a year ago, according to state government data.
Brent crude futures rose by 17 cents, or 0.2%, to $90.21 a barrel at 00:08 GMT. It crossed the $90 mark for the first time since November on Tuesday in the sixth straight day of gains.
Riyadh's decision to extend its 1 million bpd voluntary cut will be reviewed monthly to consider whether to deepen the cut or increase production, state news agency SPA said on Tuesday.
Making gold more expensive for other currency holders, the dollar gained 0.4% to a more than three-month high after data showed China's services activity expanded at the slowest pace in eight months in August.
China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year.
The Nifty MidCap 100 index gained in 13 out of 15 sessions, while Nifty SmallCap index was in green in 12 out of 15 sessions. The indices jumped 6 percent and 8.4 percent during this period and advanced 27 percent and 30 percent so far this year
According to Geojit, Farmers in Andhra Pradesh have sown kharif crops over 2.05 mln ha as of Wednesday, down 25% from 2.73 mln ha last year, according to data from the state government.
Faze Three is well placed for a stronger growth, given that a large part of the capex is completed.