mcx tips nivaca

   

Gold:-

MCX Goldpetal September contract trades flat:-

At 15:47 hrs MCX GOLDPETAL July contract was trading at Rs 2734 down Re 1, or 0.04 percent. The GOLDPETAL rate touched an intraday high of Rs 2745 and an intraday low of Rs 2730. So far 10163 contracts have been traded. GOLDPETAL prices have moved up Rs 18, or 0.66 percent in the July series so far.

MCX GOLDPETAL August contract was unchanged at Rs 2749. The GOLDPETAL rate touched an intraday high of Rs 2760 and an intraday low of Rs 2745. So far 8138 contracts have been traded. GOLDPETAL prices have moved up Rs 42, or 1.55 percent in the August series so far.

                                                  

MCX GOLDPETAL September contract was trading at Rs 2755 down Rs 2, or 0.07 percent. The GOLDPETAL rate touched an intraday high of Rs 2769 and an intraday low of Rs 2754. So far 2138 contracts have been traded. GOLDPETAL prices have moved up Rs 178, or 6.91 percent in the September series so far.

Silver:-

MCX Silvermic November contract declines:-

At 15:49 hrs MCX SILVERMIC August contract was trading at Rs 41764 down Rs 115, or 0.27 percent. The SILVERMIC rate touched an intraday high of Rs 42128 and an intraday low of Rs 41684. So far 30521 contracts have been traded. SILVERMIC prices have moved down Rs 15437, or 26.99 percent in the August series so far.

MCX SILVERMIC November contract was trading at Rs 42565 down Rs 118, or 0.28 percent. The SILVERMIC rate touched an intraday high of Rs 42899 and an intraday low of Rs 42457. So far 2549 contracts have been traded. SILVERMIC prices have moved down Rs 3438, or 7.47 percent in the November series so far.

Crudeoil :-

Oil little changed as market eyes supply data:-

 

The price of oil was little changed today as the market awaits the latest data on US crude oil and gasoline supplies. By early afternoon in New York, US benchmark crude for September delivery was down 5 cents at USD 106.89 on the New York Mercantile Exchange.

The government's weekly report on America's inventories of crude is expected to show another drop in supplies. Falling supplies helped propel the price of oil to a 16-month high before the price dropped by USD 1.14 a barrel yesterday.

A survey by Platts, the energy information arm of McGraw-Hill Cos., shows analysts expect a decline in crude oil inventories of 2.6 million barrels for the week ended July 19. That would bring the four-week drop to nearly 30 million barrels.

Natural Gas:-

GAIL seeks renegotiation of Gorgon LNG deal

State-owned gas utility GAIL India  has sought renegotiation of India's most expensive LNG import deal as it feels gas from Australia's Gorgon project will find few takers.

Petronet LNG Ltd  , a private firm whose chairman is Oil Secretary, had in August 2009 signed a 20-year deal to buy 1.44 million tonnes per annum of liquefied natural gas (LNG) at a price equivalent to 14.5 percent of ruling oil rates.

This translates into USD 14.5 per million British thermal unit price at USD 100 per barrel oil price. After adding shipping cost, 5 percent import duty and the cost of converting liquid gas back into its gaseous state, the Australian gas will cost close to USD 18 at Kochi port.

"GAIL feels there is a case for renegotiating the deal. It is for Petronet to consider," Oil Secretary Vivek Rae said.

Copper:-

From copper to cameras; feeling heat from China slump

 

China's manufacturing engine lost further momentum in July and the job market weakened, a survey showed on Wednesday, complicating a transition to consumer-driven growth and boding ill for so many leveraged to the world's second-largest economy.

The knock-on effects are already being felt farther afield - from a slowdown in Japanese export growth despite a weaker yen to Apple Inc lamenting a rare drop in Chinese demand for its premium brand of gadgets.

"China's slowdown is starting to become more dangerous," warned Yasuo Yamamoto, a senior economist at Mizuho Research Institute in Tokyo.

Nickel:-

Buy MCX Nickel August; target Rs 930-960: Nirmal Bang

Nickel prices have been continuously taking support around Rs 790 mark and couldn’t close below 800 since last 12-14 weeks on MCX. Prices bounced back last week to 843 and made a highest weekly close after 6 weeks. MACD which has given a positive crossover and difference in histogram also turned positive indicating that the prices are more likely to move further up. We believe nickel prices are more likely to trigger upside to Rs 930-960 levels in the coming weeks.

Outlook: We expect the Nickel prices to test Rs 930-960 levels in the short run, Buy Nickel on dips Aug Contract between Rs 840-850 stoploss below Rs 800 on daily closing basis for the target of Rs 930-960.

Lead & Zinc :-

Hind Zinc Q1 net up 5% on good show from lead & zinc biz

Hindustan Zinc  has reported a 5 percent year-on-year rise in June quarter profit to Rs 1660 crore on improved margins in its copper, lead and silver business. The Vedanta-group company’s sales also rose 8 percent YoY to Rs 2939 crore on higher volumes and weaker rupee, partly offsetting lower metal prices.

Its income from 'zinc, lead and silver division grew 9 percent to Rs.2,874 crore. However, wind energy segment witnessed 8 percent decline to RS 65 crore.

EBITDA (earnings before interest, tax, depreciation and amortisation) grew 6 percent to Rs 1506 crore.

The firm said itachieved integrated refined zinc production of 173,000 MT, up around ten percent YoY on higher smelter utilisation rate, while integrated refined saleable silver production was up  nine percent to 77 MT on higher contribution from Sindesar Khurd and Zawar mines.However,integrated refined lead production during the quarter was flat at 29 MT.

                                                                    

The company said it has cash and cash equivalents of Rs.22,365 crore, of which Rs.14,743 crore is invested in debt mutual funds, Rs.2,217 crore in bonds, and Rs.5,398 crore in fixed deposits with banks

Agnivesh Agarwal, chairman Hindustan Zinc said that the firm is committed to consistently delivering superior performance in future too. 

Shares of the company declined over two percent to Rs 104.20 post earnings announcement.

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