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Friday, 5 May 2017

Stock and Commodity Market Update - Crude Oil Slips

The BSE Sensex is trading at 29896 down 229 points, while NSE Nifty is trading at 9297 down 62 points. A total of 92 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE. The BSE Mid-cap Index is trading down 0.73% at 14771, while BSE Small-cap Index is trading down 0.45% at 15416.

After reaching a record high of 5.67 million tons of Pulses imports, which is 19.9 percent higher when compared to last year, India's Pulses imports this year is expected to decline to about 20 percent. However the domestic production of Pulses during the Fiscal year 17 was seen at 22.14 million tons, against the normal average consumption of 24 million tons. During 2015-16, the production was only 16.35 million tons due to the drought. Oil prices came down after big drop in previous session. World oil markets remained oversupplied despite OPEC cut. OPEC expected to extend output cut beyond June. Floating storage on tankers on the rise again in Asia.

Gold prices moved higher on Friday, as the U.S. dollar weakened broadly, although the Federal Reserve’s hawkish stance this week was expected to limit the precious metal’s gains. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.42% at $1,233.72. The June contract ended Thursday’s session 1.59% lower at $1,228.60 an ounce.

Currently, Gold is 83 points up at 28155 and Silver is also rising high with 195 points hike at 38247. Crude Oil has slipped 40 points down at 2891.