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On 21st February 2011 (Monday), the domestic commodity markets were closed on a mixed note. All the indexes on MCX were trading at the same level. Yesterday, in the MCX future, MCXCOMDEX closed at 3,425.59 up by 2.69%, MCXMETAL closed at 4,430 up by 1.445, and MCXENERGY closed at 3,015.10 up by 5.73% while MCXAGRI closed at 2,921.63 up by 0.48%

At NCDEX, the Dhaanya, an agri commodity benchmark index, was closed at 1,170.22, up by 0.49%.

MCX Crude Mar contract closed on last day of previous week at 4,072 per barrel, up by 42 rupees against previous day’s close of 4030. Support for Crude is seen at 4175 and below it; prices can test 4125 while the resistance levels are seen at 4275 and 4325 respectively.

Yesterday at the MCX, the market breadth was positive with 56 commodities advanced and 7 commodities declined. Similarly at NCDEX the market breadth was positive with 66 commodities advanced and 24 commodities declined.

The top gainers at MCX were Crude Oil for March contract (5.65%), Crude Oil for April contract (4.71%), Silver for September contract (4.47%), Silver RM for August contract (4.37%), Silver MIC for June contract (4.35%), and Silver RM for June contract (4.19%).

Similarly the top losers at MCX were CARDAMOM for June contract (-2.14%), CARDAMOM for May contract (-1.37%), Cardamom for April contract (-0.8%), Kapas for April contract (-0.35%), Iron ore for April contract (-0.28%), and copper for February contract (-0.16%).

Moreover, the gainers at NCDEX were light sweet crude oil for March contract (5.9%), Silver for May contract (5.7%), Chilli for March contract (4.0%), Chilli for April contract (4.0%) and Chilli for June contract (4.0%).

The top losers at NCDEX were Guar Gum for June contract (-2.3%), Potato for September contract (-1.8%), Potato for June contract (-1.1%), Guar Gum for May contract (-0.7%) and Gur for September contract (-0.7%).

Yesterday at MCX, the top traded commodities in terms of quantity were Crude oil for March contract with 161,147 lots, Silver RM for February contract with 116,892, Copper for February contract with 86,531, Silver for March contract with 83,667, Nickel for February contract with 43,611, and Silver MIC for April contract with 35,905.

On the domestic arena, at MCX Crude Oil for March contract closed at INR 4,304.00. It touched a high of INR 4,312.00 and a low of INR 4,086.00 after opening at INR 4,086.00. Crude Oil for April contract closed at INR 4,404.00, it touched a high of INR 4,413.00 and a low of INR 4,225.00 after opening at INR 4,225.00. Crude Oil for May contract closed at INR 4,470.00, it touched a high of INR 4,475.00 and a low of INR 4,338.00 after opening at INR 4,343.00.

Gold for April contract closed at INR 2, 0730.00, it touched a high of INR 2, 0758.00 and a low of INR 2, 0, 560.00 after opening at INR 20,560.00. Gold for June contract closed at INR 21,057.00, it touched a high of INR 21,350.00 and a low of INR 20,884.00 after opening at 20,913.00. Gold for August contract closed at INR 21,337.00, it touched a high of INR 21,379.00 and a low of INR 21,108 after opening at 21,118.00.

On Monday afternoon, India gold futures extended gains into a seventh session to its highest level in seven weeks. The most-active April contract on the Multi Commodity Exchange (MCX) was trading at an increase of 0.70 percent at 20,692 rupees per 10 grams at, after hitting a high of 20,705 rupees, on Jan4

Silver for March contract closed at INR 50,290.00, it touched a high of INR 50,420.00 and a low of INR 48,626.00 after opening at INR 48,626.00. Silver for May contract closed at INR 51,086.00, it touched a high of INR 51,200.00 and a low of INR 49,345.00 after opening at INR 49,345.00.
Silver for July contract closed at INR 51,488.00, it touched a high of INR 51,583.00 and a low of INR 50,001.00 after opening at INR 50,001.00

Silver rose to a historical high of Rs 50,300 per kg on Monday because of unrest in the Middle East. Opening at Rs49,955 on Monday morning, the price quickly climbed to cross the Rs50,000 mark for the first time.

As speculators created fresh positions, prompt by increase in demand in the spot market Potato prices registered an increase per quintal in futures trade today. At the Multi Commodity Exchange, potato for March contract rose by Rs 11.20, or 1.54 per cent, to Rs 737.50 per quintal, with a business volume of a single lot. The potato for delivery in May contract also gained Rs 8.60, or 1.16 per cent, to Rs 755.60 per quintal, with a business volume of one lot.

On firming spot market sentiments, the Mustard seed prices increased by Rs 30 to Rs 2,948 per quintal in futures trading. Restricted supply and rising demand mainly influenced the sentiments. At the National Commodity and Derivatives Exchange, mustard seed prices for April contract rose by Rs 30, or 1.03 per cent, to Rs 2,948 per quintal, clocked an open interest 85,860 lots.

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Canara Robeco Mutual Fund has decided to revise the features of Canara Robeco Interval Scheme - Series 2 (Quarterly Plan 2). The revision will be applicable from the first day of the next Specified Transaction Period (STP) i.e. March 14th 2011. Accordingly, the fund house will make certain changes in the features of this scheme. Firstly, the units offered under the scheme will be listed on one or more recognized stock exchanges. Secondly, the scheme would offer two options viz. retail and institutional plan (both with growth and dividend payout option). The existing unit holders who holds units under the "Dividend Reinvestment Option" and do not exercise the exit option will be automatically converted into "Dividend Payout Option" and will be paid dividend, if any, declared on the first day of STP i.e. March 14th 2011. Thirdly, entry and exit load charges will be nil for both the plans. Fourthly, investors will have the option to exit the said scheme at the prevailing NAV, without any exit load, in case an investor does not wish to continue to hold units in view of the said changes. The said exit option will be available till March 15th 2011.
Baroda Pioneer Mutual Fund has declared dividend on the face value of Rs 10 per unit for Baroda Pioneer ELSS 96 (dividend option). The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend will be Rs 1.50 per unit. As on February 11th 2011, the scheme's NAV stood at Rs 24.25 per unit. It is an equity linked saving scheme that seeks to provide long term capital appreciation as well as tax benefit under section 80C of the Income Tax Act, 1961.
Principal Mutual Fund has declared dividend on the face value of Rs 10 per unit for Principal PNB Fixed Maturity Plan - 91 Days - Series XXVI (dividend option). It is a close ended debt scheme that seeks to build an income oriented portfolio and generate returns by investing in debt / money market instruments and government securities. The record date for dividend declaration has been fixed as February 17th 2011. It has been decided that the quantum of dividend will be entire distributable surplus as on the record date. As on February 10th 2011, the scheme's NAV stood at Rs 10.1823 per unit.
Franklin Templeton Mutual Fund has declared tax-free dividend on the face value of Rs 10 per unit of Franklin India Prima Plus. It is an open ended growth scheme that seeks to provide capital appreciation and regular income through an investment in diversified portfolio consisting of equities, fixed income securities and money market instruments. The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend as on the record date will be Rs 3 per unit. As on February 11th 2011, the scheme's NAV stood at Rs 27.5746 per unit. The fund house has decided to distribute tax free dividend to all investors registered in the Dividend Plan as on February 18th 2011.
Sundaram Mutual Fund has declared dividend on the face value of Rs 10 per unit for Sundaram Select Thematic Funds Financial Services Opportunities (dividend option). The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend will be Rs 3 per unit. As on February 11th 2011, the regular and institutional plan has recorded NAV of Rs 14.8076 per unit and Rs 14.8367 per unit, respectively. It is an open ended equity scheme with an investment objective to seek long term capital appreciation by investing primarily in equity and equity related instruments of Indian companies engaged in banking and financial services.
ICICI Prudential Mutual Fund has announced to declare dividend on the face value of Rs 10 per unit for ICICI Prudential Tax Plan (dividend option). It is an open ended equity linked savings scheme with an investment objective to generate long term capital appreciation by investing primarily in equity / equity related securities of the companies. The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend will be Rs 2 per unit. As on February 10th 2011, the scheme's NAV stood at Rs 19.47 per unit.

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Currently, Domestic commodities markets are trading with mix note. MCXMETAL and MCXAGRI are showing upward trend, while MCXCOMDEX and MCXENERGY are showing downward trend on Multi Commodity Exchange (MCX). At MCX futures, MCXMETAL is trading at 4,285.6 (up by 0.03%), MCXAGRI is trading at 2,945.44 (up by 0.21%), MCXCOMDEX is trading at 3,363.95 (down by 0.03%), and MCXENERGY is trading at 2,986.71 (down by 0.26%). (At 11:30 AM today).

At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,171.07, up by 0.18% (At 11:26 AM today).

Gold futures are trading with negative note in the Indian bullion market as April contract fell by Rs. 76, or 0.37%, to Rs. 20,194.00 per 10 grams on Multi Commodity Exchange (MCX) today. Speculators refrained to take fresh long positions on gold futures due to continuous positive economic data released by the U.S. that eroded the safe investment appeal for precious metals.

The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expecting for 9.5%. Moreover, U.S. initial jobless claims decreased by 42,000, more than forecasts, to 415,000 as compared to previous revised figure of 457,000. ISM non-manufacturing index also surged to 59.4 in January from 57.1 in December, a report released last week. Therefore, concern about recovery of U.S. economy shifted the investment from safe haven assets to riskier assets.

The holdings in the world’s largest gold-backed exchange traded fund, SPDR Gold Trust, declined to 1,228.864 tons by February 4, 2011 from 1,229.277 tons on February 3, 2011.

Dow Jones Industrial Average (DJIA) gained 29.89 points, or 0.28%, to 12,092.15 after opening at 12,061.70 against the previous close price of 12,062.30 on Friday due to optimistic views of U.S. economy.

At Multi Commodity Exchange (MCX), gold future for April contract is trading at Rs. 20,270.00 per 10 grams, down by 0.31%, after opening at Rs. 20,209.00 against the previous close price of Rs. 20,270.00. It touched the intra-day low of Rs. 20,194.00 till trading. (At 11:23 AM today).

Gold future for April contract, at COMEX, is trading at $1,348.00 per ounce, down by $1.0 per ounce, after opening at $1,348.1 per ounce against the previous close price of $1,349.0. It touched the intra-day low of $1,344.1 per ounce with a business volume of 6,072 lots till electronic trading. (At 11:22 AM today).

At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 44,536.00 per kg, up by 0.04%, after opening at Rs. 44,498.00 against the previous close price of Rs. 44,516.00 per kg. It touched the intra-day low of Rs. 44,437.00 till trading. (At 11:21 AM today).

The top gainers at MCX are potato for April contract (2.91%), Potato for March contract (2.56%), Potato TRWR for May contract (2.48%), Potato TRWR for March contract (2.39%) and Potato for May contract (2.33%). (At 11:20 AM today).

The top losers at MCX are Natural gas for February contract (-1.67%), Natural gas for March contract (-1.44%), Ironore for February contract (-0.98%), Natural gas for April contract (-0.93%) and Gold for April contract (-0.32%). (At 11:18 AM today).

The top gainers at NCDEX are Potato for March contract (3.01%), Potato for June contract (3.01%), Potato for April contract (3.00%), Chilli LCA for March contract (2.90%) and Chilli LCA for February contract (2.72%). (At 11:16 AM today).

The top losers at NCDEX are Natural gas for February contract (-1.27%), Light sweet crude oil for March contract (-1.21%), Turmeric for May contract (-0.55%), Steel long new for March contract (-0.55%) and Steel long new for February contract (-0.49%). (At 11:15 AM today).

Potato futures are the top performer on the Multi Commodity Exchange (MCX), as it gained 2.83% to Rs. 706.90 per 100 kgs today. It advanced on the back of increase in long positions by the speculators due to pick-up in the spot market demand. Moreover, concern about restricted arrivals from the producing regions also kept the prices in positive zone.

At Multi Commodity Exchange (MCX), potato future for March contract is trading at Rs. 706.40 per 100 kgs, up by 2.76%, after opening at Rs. 689.40 against the previous close price of Rs. 687.40. It touched the intra-day high of Rs. 706.90 till trading. (At 11:11 AM today).

Copper future for February contract is trading with positive note on the back of tracking global cues. February future surged 0.30% to Rs. 465.90 per kg on the Multi Commodity Exchange today due to concern that global economic recovery will boost the demand outlook for the metals which is used in cars, homes and appliances amid fall in global output. The metal prices has more than tripled since the end of 2008 on increasing demand from China, the world’s largest consumer.

The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expected for 9.5%.

Moreover, concern about shrinking global stockpiles with improving demand from China and US also boosted the demand outlook for the metal used in construction and electrical applications. Barclays Capital forecasted that copper supply may deficit by 822,000 tons in 2011, more than double last year’s shortage. While, The International Copper Study Group forecasted that copper inventory will deficit by 435,000 ton in this year as consumption are improving amid falling output.

The world refined copper market is expected to have a 500,000-metric-ton to 600,000-ton deficit in 2011, according to JPMorgan Securities Ltd.

Copper for February contract, at MCX, is trading at Rs. 465.40 per kg (up by 0.19%) after opening at Rs. 464.80 against the previous close price of Rs. 464.50 with intra-day high of Rs. 465.90 till the trading. (At 11:09 AM today).

While, copper future for March contract, at COMEX, is trading at $4.6200 a pound, up by 0.88%, after opening at $4.5795 a pound against the previous close price of $4.5795 a pound. It touched the high of $4.6220 with a business volume of 1,024 lots till electronic trading. (At 11:08 AM today).

Crude for February contract, at MCX, is trading at Rs. 4,080.00 per barrel (down by 0.20%) after opening at Rs. 4,085.00 against the previous close price of Rs. 4,088.00 with intra-day low of Rs. 4,073.00 till the trading. (At 11:06 AM today).

Nickel for February contract, at MCX, is trading at Rs.1,305.70 per kg (up by 0.90%) after opening at Rs. 1,296.00 against the previous close price of Rs. 1,294.10 with intra-day high of Rs. 1,307.00 till the trading. (At 11:05 AM today).

Natural gas Future for February contract is trading at Rs. 194.40 per mmbtu, down by 1.62%, after opening at Rs. 197.10 against the previous close price of Rs. 197.60. (At 11:04 AM today)

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The Indian bourses are currently trading in the negative terrain during midsession trade after experiencing heavy selling pressure across certain sectors, overshadowing the positive cues from the Asian market. On the Asian front, markets are trading higher following the over-night gains in the Wall Street. The commodity companies are enjoying the buying positions after the hike in oil and metal prices. On the domestic front, sectors like FMCG, AUTO, CG and IT are witnessing the most of selling pressure.

The broader market indices are trading negative as BSE Mid Cap and Small Cap are trading down by 0.69% and 0.33% respectively. The key benchmark indices are trading at BSE 30-share Sensex below 18,105 mark, while Nifty is below the 5,445 mark.

At 12.25 BSE SENSEX was trading at 18,102.20 down by 225.56 (1.23%) and the NSE Nifty was trading at 5,440.75 down by 65.15 (1.18%).

The BSE MIDCAP was at 6,821.20 down by 47.15 (0.69%) and the BSE SMLCAP was at 8,449.67 down by 28.15 (0.33%).

On the economic front, the six core industries viz crude oil, petroleum refining, coal, electricity, cement and finished steel together have a combined weight of 26.7% in IIP. Further, these sectors surged by 6.6% in December in comparison to November. Thus India’s infrastructure is recovering from its 18-month low of 2.7% in November in IIP index, thus showing high volatility.

On the corporate front, Hitachi Home & Life Solutions fell by 2.97% to Rs 194.50 after the company suffered a decline in the net profit by 94% to Rs. 0.53 crore in the Q3 results.

Everest Kanto Cylinder rose by 2.65% to Rs 81.40 after the company reported a tremendous increment of 1422.2% in its net profit to Rs. 23.29 crore in its Q3 results.

At present, the market breadth indicating the overall health is negative with 1,161 stocks advancing, 1,432 shares declining and 110 stocks are left unchanged. Further, the overall market breadth is negative as all the 13 sectoral indices are trading lower.

Losers from the Sensex Pack till now are Tata Motors (4.17%), Jindal Steel (3.59%), Wipro (3.31%), ITC (3.1%) and L&T (1.96%).

The BSE FMCG index was at 3,290.05 down by 76.15 points or by (2.26%). The main losers were ITC (3.1%), Marico (3.43%), Nestle India (3.04%) and Godrej Cons (1.84%).

The BSE AUTO index was at 8,729.28 down by 165.3 points or by (1.86%). The main losers were Tata Motors (4.17%), Exide Inds (2. 61%) , Amtek Auto (2.45%) and Cummins India (1.66%).

The leading Asian bourses are trading lower as Hang Seng, Taiwan Weighted and Nikkei 225 are trading higher by 54.35, 43.02 and 36.58 points respectively.

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The domestic bourses ended the trading session on a positive note as the benchmark indices pared almost all of the hefty losses incurred during the morning trade. The market started off the session deep into the negative terrain, as the broader indices witnessed a huge gap down opening tracking weak global cues. The Asian stocks plunged significantly following negative cues from the Wall Street which closed lower on Friday and due to gains in yen and dollar on speculation that Egypt’s crisis will slow down the global economic recovery.

Soon after the bearish start, the market dragged further before finding support near the 5,410 Nifty level. Though weakness prevailed among the Asian bourses, the domestic market started paring its losses gradually. Despite of huge volatility, the benchmarks were seen inching towards the baseline. The recovery came in as buying interest was witnessed among the Capital Goods, Power, Oil&Gas and Auto stocks. Finally, the market closed with mild losses. The negative opening for the European bourses had limited impact in the domestic front.

In the sectoral front, the Capital Goods, Power and Oil&Gas space were the major contributors to the market recovery from the morning slump and they gained by 3.26%, 1.31% and 1.22% respectively. However, the Realty and FMCG sectors remained weak, declining by 2.23% and 2% respectively. Both the Nifty and Sensex witnessed huge volatility throughout the session and finally closed with mild losses near the session highs. The negative closing for the US markets on Friday weighed heavily on the domestic market, dampening the morning sentiment. The Dow Jones Industrial Average (DJIA) closed with a loss of 166.13 points or 1.39% at 11,823.70, while NASDAQ index finished lower by 68.39 points or 2.48% to 2,686.89. The S&P 500 (SPX) closed down by 23.20 points or 1.79% to 1,276.34.

Among the Sensex pack, 17 stocks ended in negative while 13 ended in the positive terrain. The overall market breadth reflected similar weakness, as out of total 3,006 stocks traded on BSE, 1,643 stocks declined, whereas 1,183 stocks advanced and 180 stocks remained unchanged.

The BSE Sensex closed down by 68.21 points or (0.37%) at 18,327.76 and NSE Nifty ended lower by 6.25 points or (0.11%) at 5,505.90. BSE Midcap closed with a loss of 30.02 points or (0.44%) at 6,868.35 while BSE Smallcap closed lower by 68.47 points or (0.80%) at 8,477.82. The BSE Sensex touched intraday high of 18,395.09 and intraday low of 18,038.48.

Gainers from the BSE Sensex pack were – ONGC (3.69%), BHEL (2.98%), Hindalco Inds (2.73%), L&T (2.19%), M&M (2.18%) and Maruti Suz (1.56%).

Losers from the BSE Sensex pack were – JP Assoc (4.69%), ITC (3.18%), HDFC (2.73%), Bharti Artl (2.61%), Rel Infra (2.31%), TCS (2.15%) and Rel Comm (2.00%).

On the macroeconomic front, India is eyed a lucrative destination for investment by the private equity player. The reason attributing are the sound economic growth and the increasing domestic demand. The sectors like power, infrastructure, energy, real estate and healthcare are going to drive the investment in the coming period. "Strong self consumption driven by the great Indian middle class and consistent economic growth ranked higher in respondent''s minds as reason for a more favourable investment environment now as compared to 2007," the report said. Further, the report noted that almost "a third of the respondents believed India shall perform better than both China and Brazil ".

India is likely to sign the Comprehensive Economic Cooperation Agreement with Malaysia to strengthen and boost trade and economic activities between the two countries and to emerge with new areas of trade and economic cooperation. Both the countries look for an enhanced scope coverage and outset the Free-Trade Agreement (FTA) which focuses on goods, services and investments.

In order to put a check on the rising inflation in the country, the government has decided to reduce the prevailing import duties on the food items. As the reduction in the import duty will help in decreasing the food inflation in the country. If the same is not achieved India will further decline the import duties in order to control the rising food prices.

On the global markets front, almost all the major indices in Asia ended on a negative note. The Jakarta Composite, Seoul Composite, Straits Times, Nikkei225 and Hang Seng declined by 2.25% at 3,409.17, 1.81% at 2,069.73, 1.55% at 3,179.72, 1.18% at 10,237.92 and 0.72% at 23,447.34 respectively. However, the Shanghai Composite inclined by 1.35% at 2,789.82.

European markets, which opened after the Indian market were trading on a negative note. Key benchmark indices like – CAC 40 was trading lower by 0.51% at 3,982.05, in Frankfurt, DAX index was trading down by 0.55% at 7,063.58 and FTSE 100 declined by 0.67% at 5,842.14.

The BSE CG index was at 13,526.03 up by 426.85 points or by (3.26%). The main gainers were Siemens (17.32%), Crompton Greaves (6.48%), ABB (5.81%), Bharat Elec (3.70%) and Alstom Projects (3.29%).

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