Indian benchmark indices ended on a positive note in the volatile session on March 18 with Nifty around 22,050.
Tata Steel, M&M, JSW Steel, Tata Motors and Apollo Hospitals were among the top gainers on the Nifty, while losers included Tata Consumer Products, UPL, Infosys, TCS and Titan Company.
Among sectors, capital goods, healthcare, auto, realty, metal, media up 0.5-3 percent, while IT, and FMCG down 0.5-1 percent.
BSE Midcap and Smallcap indices ended on a flat note.
Indian benchmark indices ended on a positive note in the volatile session on March 18 with Nifty around 22,050.
Tata Steel, M&M, JSW Steel, Tata Motors and Apollo Hospitals were among the top gainers on the Nifty, while losers included Tata Consumer Products, UPL, Infosys, TCS and Titan Company.
Among sectors, capital goods, healthcare, auto, realty, metal, media up 0.5-3 percent, while IT, and FMCG down 0.5-1 percent.
BSE Midcap and Smallcap indices ended on a flat note.
Silver Rose Driven By Safe Haven Demand Amid Increased War And Inflation Risks.
Silver prices rose by 0.56% yesterday, closing at 75650, driven by heightened safe-haven demand amid escalating geopolitical tensions and concerns over inflation risks. Investors turned to silver as a refuge amidst uncertainties, with high prices and inflation becoming significant political issues ahead of U.S. elections, complicating the Federal Reserve’s policy decisions aimed at managing economic stability. However, economic indicators presented a mixed picture. U.S. business inventories remained unchanged in January, with increases in retail stocks offset by declines in manufacturing and wholesale inventories
Gold prices fell in Asian trade on Monday, losing a key support level as traders turned averse to non-yielding assets before more signals on interest rates from a Federal Reserve meeting later in the week.
A rally in industrial metals also appeared to have stalled, with copper prices easing after rallying to 11-month highs last week. Middling Chinese economic data also spurred some profit-taking in the red metal.
Silver Rose Driven By Safe Haven Demand Amid Increased War And Inflation Risks.
Silver prices rose by 0.56% yesterday, closing at 75650, driven by heightened safe-haven demand amid escalating geopolitical tensions and concerns over inflation risks. Investors turned to silver as a refuge amidst uncertainties, with high prices and inflation becoming significant political issues ahead of U.S. elections, complicating the Federal Reserve’s policy decisions aimed at managing economic stability. However, economic indicators presented a mixed picture. U.S. business inventories remained unchanged in January, with increases in retail stocks offset by declines in manufacturing and wholesale inventories.
Copper Rose Buoyed By A Potential Output Cut In China.
Copper prices surged by 1.34% yesterday, settling at 762.25, following a rally in London that saw prices reaching a 10-month peak. The bullish sentiment was fueled by news of a potential output cut in China, the world’s top copper producer. Major Chinese copper smelters have agreed to reduce operation rates, adjust maintenance schedules, and delay new projects in a concerted effort to bolster prices. Tight supplies of copper concentrates and lower processing fees have prompted China’s North Copper to consider scaling back output in the future. This agreement among Chinese copper smelters to decrease production comes amidst mounting losses in the country’s copper industry in recent months.
Crude Oil Prices Dropped Largely Due To Profit Taking After Recent Strong Gains.
Crude oil prices surged by 2.48% yesterday, settling at 6742, primarily driven by profit-taking following recent strong gains and bolstered by a forecast from the International Energy Agency indicating a potential drop in inventories this year. The near-term outlook for global oil and liquids production suggests growth, led by key players such as the U.S., Guyana, Canada, and Brazil, which are expected to offset voluntary production cuts by OPEC+. The U.S. Energy Information Administration (EIA) revised its forecast for domestic oil growth in 2024, anticipating an increase of 90,000 barrels per day (bpd) to 13.19 million bpd, surpassing its previous projection.
Natural Gas Demand Drops Due To Mild Weather Forecasts.
Natural gas prices experienced a significant decline of -3.49% yesterday, settling at 138.3, as forecasts for mild weather dampened demand for heating. The U.S. Energy Information Administration (EIA) reported a larger-than-expected withdrawal of 9 billion cubic feet (bcf) from storage, contrasting with a withdrawal of 65 bcf during the same period last year and a five-year average decrease of 87 bcf. Meteorologists anticipate warmer-than-normal weather across the Lower 48 states until March 18, followed by a shift to near- to colder-than-normal temperatures from March 19-26.
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Natural Gas Demand Drops Due To Mild Weather Forecasts.
Natural gas prices experienced a significant decline of -3.49% yesterday, settling at 138.3, as forecasts for mild weather dampened demand for heating. The U.S. Energy Information Administration (EIA) reported a larger-than-expected withdrawal of 9 billion cubic feet (bcf) from storage, contrasting with a withdrawal of 65 bcf during the same period last year and a five-year average decrease of 87 bcf. Meteorologists anticipate warmer-than-normal weather across the Lower 48 states until March 18, followed by a shift to near- to colder-than-normal temperatures from March 19-26.
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Indian indices opened marginally lower on March 18 with Nifty below 22,000.The Sensex was down 77.50 points or 0.11 percent at 72,565.93, and the Nifty was down 40.40 points or 0.18 percent at 21,982.90. About 1411 shares advanced, 977 shares declined, and 167 shares unchanged. M&M, Tata Steel, NTPC, Axis Bank and HCL Tech were among major gainers on the Nifty, while losers were Adani Enterprises, Adani Ports, Grasim, Power Grid Corp and Asian Paints.