International Market Update by Money CapitalHeight

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CH: INTERNATIONAL MARKET UPDATE

GOLD $ 1204.50

SILVER $ 14.48

COPPER $ 2.89

CRUDE $ 69.59

INR 70.79

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Stock Market Closing Bell 20-Aug- 2018: CapitalHeight

Stock Market Closing Bell 8-Aug- 2018: CapitalHeight

CH: CLOSING BELL

NIFTY FUTURE UP 94 @ 11583

BANK NIFTY FUTURE UP 151 @ 28320

SENSEX UP 323 @ 38271

INR @ 69.74

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Stock Market Closing Bell 14-June- 2018: Capitalheight

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CH: CLOSING BELL

NIFTY FUTURE DOWN 31 @ 10813

BANK NIFTY FUTURE DOWN 62 @ 26575

SENSEX DOWN 142 @ 35596

INR @ 67.65

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Stock Market Closing Bell 7- June– 2018: CapitalHeight

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CH: CLOSING BELL

NIFTY FUTURE UP 75 10761

BANK NIFTY FUTURE UP 167 @ 26558

SENSEX UP 284 @ 35463

INR @ 67.05

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Capitalheight:TCS falls 2% after stock price adjusts for bonus share issue

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Country’s largest IT services exporter Tata Consultancy Services share price fell nearly 2 percent after the stock adjusted for bonus share issue.The board of directors of the company, on April 19, had recommended bonus issue of equity shares in the ratio of one equity share of Re 1 each for every one equity share of Re 1 each held by the shareholders of the company as on the record date.

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MCX Commodities Pivot levels – December 08

MCX non agriculture commodities pivot levels for December 08

Pivots Points are significant levels which can be used to determine directional movement and potential support/resistance levels. Below are the pivot points for MCX Non-Agriculture Commodities for December 08.

MCX Commodities Pivot levels – December 08
Commodity Close S1 S2 Pivot R1 R2 Today’s Trend
Aluminium 130 129 128 130 130 131 Bearish
Copper 426 424 421 427 430 433 Sideways Bullish
Crudeoil 3657 3621 3584 3640 3677 3696 Bullish
Gold 28667 28572 28477 28748 28843 29019 Bearish
Lead 158 155 153 159.4 161 165 Bearish
Naturalgas 180 176 172 182.7 187 194 Bearish
Nickel 710 698 685 705 718 725 Sideways Bullish
Silver 37036 36861 36685 37167 37343 37649 Bearish
Zinc 199 198 197 200 201 202 Bearish

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BSE Metal index down 1.6% as Commodity prices show further weakness

Copper prices touched a 2 month low of $6,580 per tonne over concerns of slowdown of Chinese infrastructure spending. Build up of copper inventories was also the cause for further bearishness. Copper inventories at LME warehouses rose from 10,650 tonnes to 192,550 tonnes. On the MCX, Zinc and aluminum prices were down 0.55% and 0.38% respectively. However, copper prices traded higher by 0.7%.

As per an economic survey, Chinese fixed-asset investment in infrastructure is estimated to grow at 12% next year against 20% in the first 10 months of 2017. China is stepping up efforts to reduce overcapacity in industry, which is feared to reduce demand for base metals going forward.

Metal stocks continued their decline from yesterday. Vedanta and Hindustan Zinc lost 2.8% each with Hindalco losing 2.9%. Steel stocks were less affected with JSW Steel, SAIL and Tata Steel down by 1.87%, 2.24% and 1.94% respectively.

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Gold steady as Dollar firms ahead of US Consumer Data

Gold prices held steady early Wednesday, after hitting a more than one-week low in the previous session, as the dollar firmed and investors waited for cues from U.S. consumer inflation data.

FUNDAMENTALS

Spot gold was nearly unchanged at $1,280.90 per ounce at 0103 GMT. On Tuesday, gold touched a session low of $1,270.56, a bottom since Nov. 6, before recovering to gain about 0.2 percent.

U.S. gold futures for December delivery slipped 0.2 percent to $1,280.90.

The dollar index , which tracks the U.S. currency against a basket of six major rivals, edged up 0.1 percent. The immediate focus for the dollar was data on U.S. consumer prices due later in the day.

Four of the world’s top central bankers promised on Tuesday to keep openly guiding investors about future policy moves as they slowly withdraw the huge monetary stimulus rolled out during the financial crisis.

U.S. Senate Republicans on Tuesday linked repealing a key component of Obamacare to their ambitious tax-cut plan, raising new political risks and uncertainties for the tax measure that financial markets have been monitoring closely for months.

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Expect Crude Oil to Trade Positive

crude-oil

Oil prices settled slightly lower on Wednesday after U.S. government data showed rising domestic crude production, a surprise build in U.S. stockpiles and a decline in monthly Chinese crude imports, a triple blow that was offset somewhat by rising tensions in the Middle East. The EIA also said crude stocks increased by 2.2 million barrels, shocking the market after analysts polled by Reuters had forecast a 2.9 million – barrel draw and industry group the American Petroleum Institute on Tuesday reported a decline of 1.6 million barrel. China’s October oil imports fell to just 7.3 million bpd from a near record – high of about 9 million bpd in September, according to data from the General Administration of Customs. Traders said they w ere also watching escalating tensions in the Middle East, especially between regional rivals Saudi Arabia and Iran. Brent crude hit $64.65 earlier this week, its highest since mid – 2015, as  political tensions in the Middle East escalated after a sweeping an ti – corruption purge in top crude exporter Saudi Arabia, which in turn has  confronted Iran over the conflict in Yemen. The Organization of the Petroleum Exporting Countries’ 2017 World Oil  Outlook showed the group predicts demand for its crude will rise more  slowly than previously expected in the next two years, as higher prices  from its supply policy stimulate output growth from rival producers.

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Gold Prices to Trade Higher

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Spot gold traded higher by 2.3 percent last week while silver prices also rose 3.4 percent. Gold prices rose as minutes from a U.S. Federal Reserve September meeting showed policymakers had a prolonged debate about prospects of a pick – up in inflation and slowing the path of future interest rate rises if it did not. Weak dollar index and geopolitical tensions in Spain and North Korea further supported the rally in gold. Russia and China both called for restraint on North Korea following a Twitter post from U.S. President Donald Trump hinting that military action was on his mind. The focus of the markets have now shifted from the geo – political crisis  to the economic data that will be released from the US, besides, the  possibility of rate hike scenario in the US is a factor for gold prices to move lower in the week ahead.

Outlook

Geo – political crisis and economic data from US will be the key going forward, besides, the possibility of rate hike scenario in the US is a factor for gold prices to move lower in the sessions ahead. ON the MCX, gold prices are expected to trade higher today, international markets are trading lower by 0.2 percent at $1302 per ounce.

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