Below the Quote on Market from Amit Golia, Group CEO, MarketsMojo - 19th Sept 2024
"Earlier in the month, market predictions showed a 35% chance of a 50bps rate cut, compared to a 65% likelihood of a smaller 25bps reduction. However, weaker-than-expected US jobs data suggesting slower pace of hiring, and a lower inflation report for August 2024, signaled a more significant economic slowdown than anticipated. These developments shifted expectations, with the probabi...
Quote on Market from Amit Golia, Group CEO, MarketsMojo - 19th Sept 2024
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
The markets ended almost unchanged in a volatile expiry session, continuing the recent trend. After a gap-up opening, the Nifty index moved higher during the first hour, but profit booking in heavyweight stocks across sectors erased those gains. Sector-wise, the trend remained mixed with FMCG, banking, and auto sectors edging higher, while metals and pharma faced pressure...
Daily Market Analysis : The markets ended almost unchanged in a volatile expiry session, continuing the recent trend Says Mr. Ajit Mishra, Religare Broking Ltd
U.S. crude oil inventories dropped by 1.6 million barrels to 417.5 million barrels, reaching their lowest level in a year, according to the Energy Information Administration (EIA). Stocks at the Cushing, Oklahoma hub fell by 2 million barrels, marking their 10th decline in 11 weeks. Despite earlier losses, Brent and WTI futures recovered, with Brent trading at $73.53 per barrel and WTI at $71.10. Meanwhile, gasoline and distillate stockpiles rose by 100,000 barrels each, less than expected, w...
U.S. Crude Stocks Hit Yearly Low, Fuel Inventories Show Moderate Builds by Amit Gupta, Kedia Advisory
Below the Pre-Market Comment by Hardik Matalia, Derivative Analyst, Broking Ltd
The benchmark Sensex and Nifty indices are expected to open positive on Sept 19, following GIFT Nifty trends indicating a gain of 83 points for the broader index.
After a positive opening, Nifty can find support at 25,300 followed by 25,250 and 25,200. On the higher side, 25,500 can be an immediate resistance, followed by 25,550 and 25,600.
The charts of Bank Nifty indicate that it may get ...
Pre-Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking Ltd
India’s kharif sowing has surpassed the normal acreage, reaching 1,096.65 lakh hectares, driven by favorable monsoon conditions. Paddy cultivation saw a 4% increase, but export restrictions on non-basmati rice persist due to weather-related risks in key regions. Oilseeds and maize coverage rose, with soybean and groundnut areas expanding, potentially boosting price trends. Pulses also showed growth, though their overall acreage remained below normal levels. Cotton acreage, however, fell...
India's Kharif Sowing Exceeds Normal Acreage Amid Increased Coverage of Key Crops by Amit Gupta, Kedia Advisory
India’s kharif sowing has surpassed the normal acreage, reaching 1,096.65 lakh hectares, driven by favorable monsoon conditions. Paddy cultivation saw a 4% increase, but export restrictions on non-basmati rice persist due to weather-related risks in key regions. Oilseeds and maize coverage rose, with soybean and groundnut areas expanding, potentially boosting price trends. Pulses also showed growth, though their overall acreage remained below normal levels. Cotton acreage, however, fell...
India`s Kharif Sowing Exceeds Normal Acreage Amid Increased Coverage of Key Crops by Amit Gupta, Kedia Advisory
Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
Markets remained volatile for another session, ending flat in line with global trends ahead of the US Fed meeting. After a steady start, sentiment was positive in the first half, despite a mixed performance from heavyweights. However, the index gave up all its gains with a sharp decline as the day progressed, closing at 25,377.55. Most sectors were under pressure, but strength ...
Daily Market Analysis : Markets remained volatile for another session, ending flat in line with global trends ahead of the US Fed meeting Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Post Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking
On September 18, Indian benchmark indices experienced a volatile trading session and ended lower. The Sensex closed 131.43 points lower, or down 0.16 percent, at 82,948.23, while the Nifty lost 41 points, or 0.16 percent, to close at 25,377.55.
On the daily chart, the Nifty index made a new record high of 25,482.2 but could not sustain higher levels, as selling pressure pulled the...
Post Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking
Below the Quote on Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open flat to positive on Sept 18, following GIFT Nifty trends indicating a gains of 20 points for the broader index.
After a flat to positive opening, Nifty can find support at 25,350 followed by 25,300 and 25,250. On the higher side, 25,500 can be an immediate resistance, followed by 25,550 and 25,600.
The charts of Bank Nifty i...
Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold prices surged to a record high of $2,617.40 on Monday, driven by a weaker US dollar amid growing expectations of a significant rate cut. The CME FedWatch Tool now indicates a 67% chance of a 50 basis point rate cut by the Fed, up from 50%, with a 33% probability of a 25 basis point cut. Geopolitical risks, particularly in the Middle East, and an alleged assassination at...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
Markets remained subdued for the third consecutive day, ending slightly in the green. After a flat opening, the Nifty moved within a narrow range, closing at 25,418.55. Sector-wise, realty and auto saw gains, while metal and pharma ended in the red. Simultaneously, profit-booking in the midcap and smallcap segments led to weaker market breadth.
The recent market ac...
Daily Market Analysis : Markets remained subdued for the third consecutive day, ending slightly in the green Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
The markets remained lackluster for another session, closing marginally in the green, extending Friday's brief recovery. After an initial uptick, the Nifty traded within a narrow range, eventually settling at 25,383.75 level. Sectoral trends were mixed, with energy and metals showing decent gains, while FMCG and IT saw slight declines. Market breadth leaned slightly positive...
Daily Market Analysis : The markets remained lackluster for another session, closing marginally in the green, extending Friday`s brief recovery Says Mr. Ajit Mishra, Religare Broking Ltd
India has raised the basic import tax on crude and refined edible oils by 20 percentage points to support local farmers facing lower oilseed prices. The new tax will increase the total import duty on crude palm oil, soyoil, and sunflower oil to 27.5%, up from 5.5%, while refined oils will now attract 35.75% duty, up from 13.75%. The move is expected to raise domestic edible oil prices, dampen demand, and reduce India’s reliance on overseas imports, particularly from Indonesia, Malaysia,...
India Increases Import Tax on Edible Oils to Support Domestic Farmers by Amit Gupta, Kedia Advisory
India's cotton exports for the 2023-24 season have surged by 80%, reaching 28 lakh bales, driven by strong demand from Bangladesh and Vietnam, according to the Cotton Association of India (CAI). Imports have also increased to 16.40 lakh bales, while domestic consumption is projected at 317 lakh bales, reflecting steady local demand. Cotton acreage has declined to 112.13 lakh hectares, mainly in Gujarat, Maharashtra, and Telangana, though Karnataka and Odisha saw slight increases. With sup...
Cotton Exports Surge 80% in 2023-24 Season Amid Global Demand Growth by Amit Gupta, Kedia Advisory