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Monday, 9 March 2015

Stock Market and Commodity Updates

The Sensex plummet 604.17 points or 2.05 percent to close at 28844.78, and the Nifty decline 181 points or 2.03 percent to end the day at 8756.75. 

The Stock Market get crashed due to the rate hike by the US Federal Reserve. 

Top Gainers – Infosys , HDFC Bank , Reliance , ITC and Hindustan Unilever 

Top Losers – Axis Bank , ICICI Bank , Tata power , BHEL , L&T and NTPC 

Commodity Updates - 

Copper sank to its lowest in two weeks on Monday as the dollar rose after strong U.S. jobs data fueled expectations of a mid-year rate hike. 

Crude oil prices dipped on Monday as China showed a drop in imports overall even as exports surged. On the NYMEX, crude oil for delivery in April fell 0.35% to $49.44 a barrel. 
China is the world's second largest oil consumer after the U.S. and has been the engine of strengthening demand. 

Higher interest rates could dent demand for non-interest-bearing assets such as gold, while a stronger dollar would also hurt bullion's appeal as a safe-haven asset. 

Evening Commodity Calls - 

1. BUY SILVER Above 36170.00 , T1- 36420.00 with SL- 35770.00 

2. SELL GOLD At 26100.00 , T1- 26050.00, T2- 26000.00 with SL- 26231.00 

3. BUY CRUDE OIL At 3115.00 , T1- 3135.00, T2- 3155.00 with SL- 2980.00

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