Natural Gas Dropped On Rising, Near-Record Output.
Natural gas settled with a slight decline of -0.22%, closing at 133.3, as near-record output and a smaller-than-expected storage withdrawal last week contributed to market dynamics. US utilities withdrew 49 billion cubic feet of natural gas from storage, falling short of market expectations of a 67 bcf draw due to warmer-than-normal weather suppressing heating demand.
The report indicated that gas in storage is currently 15.9% above the seasonal norm. The U.S. Energy Information Administration (EIA) projected a higher average natural gas spot price in 2024 and 2025 compared to the previous year, but it is expected to remain below the $3.00-per-million British thermal units (MMBtu) mark.
Indian indices opened on a positive note on February 19 with Nifty around 22,100.
The Sensex was up 91.26 points or 0.13 percent at 72,517.90, and the Nifty was up 44.80 points or 0.20 percent at 22,085.50. About 2067 shares advanced, 638 shares declined, and 130 shares unchanged.
Bajaj Auto, Adani Ports, Dr Reddy’s Labs, Adani Enterprises and Coal India were among major gainers on the Nifty, while losers were Wipro, TCS, L&T, HDFC Life and LTIMindtree.
बाज़ार खुला:
19 फरवरी को भारतीय सूचकांक सकारात्मक रुख के साथ खुले और निफ्टी 22,100 के आसपास रहा।
सेंसेक्स 91.26 अंक या 0.13 प्रतिशत ऊपर 72,517.90 पर और निफ्टी 44.80 अंक या 0.20 प्रतिशत ऊपर 22,085.50 पर था। लगभग 2067 शेयर बढ़े, 638 शेयर गिरे और 130 शेयर अपरिवर्तित रहे।
निफ्टी पर बजाज ऑटो, अदानी पोर्ट्स, डॉ रेड्डीज लैब्स, अदानी एंटरप्राइजेज और कोल इंडिया प्रमुख लाभ में रहे, जबकि विप्रो, टीसीएस, एलएंडटी, एचडीएफसी लाइफ और एलटीआईमाइंडट्री घाटे में रहे।
Crude Gains Amid Geopolitical Uncertainties And OPEC+ Efforts To Curb Oil Supply.
Crude oil posted a 0.37% gain, settling at 6482, driven by geopolitical uncertainties in the Middle East and OPEC+ efforts to control oil supply. The International Energy Agency (IEA) cautioned about global oil demand losing momentum, citing a significant drop in Chinese demand.
The IEA revised its 2024 global oil demand forecast slightly lower to 1.22 million barrels per day from 1.24 million bpd. Additionally, it anticipated a supply increase of 1.7 million bpd this year, surpassing the previous estimate of 1.5 million bpd.
Crude Gains Amid Geopolitical Uncertainties And OPEC+ Efforts To Curb Oil Supply.
Crude oil posted a 0.37% gain, settling at 6482, driven by geopolitical uncertainties in the Middle East and OPEC+ efforts to control oil supply. The International Energy Agency (IEA) cautioned about global oil demand losing momentum, citing a significant drop in Chinese demand.
The IEA revised its 2024 global oil demand forecast slightly lower to 1.22 million barrels per day from 1.24 million bpd. Additionally, it anticipated a supply increase of 1.7 million bpd this year, surpassing the previous estimate of 1.5 million bpd.
Copper closed above 1 week high with volume signals up breakoutCurrently Copper is in HOLD LONG position In short term Copper is in strong up trend so hold with stop at 708 The oscillator is showing BUY signal Intraday Trend– Buy is advised above 730.3 with a stop at 718.9 Below 716.1 go for sell with a stop at 727.5 Intraday Resistance of COPPER are 728.9 : 733.6 : 742.4 : 750.3 : 758.4 : 764.1 : 769.9 Intraday Support of COPPER are 717.5 : 712.8 : 704.3 : 696.6 : 688.9 : 683.4 : 678
Copper closed above 1 week high with volume signals up breakoutCurrently Copper is in HOLD LONG position In short term Copper is in strong up trend so hold with stop at 708 The oscillator is showing BUY signal Intraday Trend– Buy is advised above 730.3 with a stop at 718.9 Below 716.1 go for sell with a stop at 727.5 Intraday Resistance of COPPER are 728.9 : 733.6 : 742.4 : 750.3 : 758.4 : 764.1 : 769.9 Intraday Support of COPPER are 717.5 : 712.8 : 704.3 : 696.6 : 688.9 : 683.4 : 678
Gold prices retake $2,000 after weak retail sales, weekly losses still on tap
Gold prices moved little in Asian trade on Friday after retaking a key level as weak U.S. retail sales data spurred some doubts over when the Federal Reserve will begin cutting interest rates.
Bullion prices rose back above the $2,000 an ounce level on Thursday after breaking well below the level earlier in the week. Some safe haven demand- following data showing recessions in Japan and the UK- also aided gold prices.
Copper Gains As Dollar Eased And Stable China’s Manufacturing Demand.
Copper demonstrated strength, settling up by 1.25% at 714.75, benefiting from a weakened U.S. dollar and steady manufacturing demand in China. The official purchasing managers’ index (PMI) in China rebounded slightly in January, though it remained below the critical 50-mark that separates growth from contraction.
Support for copper was further bolstered by data from LME, revealing a decline in copper stocks in LME-registered warehouses to 132,525 tons, the lowest level since September. On the other hand, concerns arose from U.S. inflation data, which surpassed expectations in January, leading to speculation that potential cuts to high-interest rates could be delayed.
Indian benchmark indices ended higher for the fourth consecutive session on February 16 with Nifty above 22,000.
Biggest gainers on the Nifty included Wipro, M&M, SBI Life Insurance, Adani Ports and L&T, while top losers were Power Grid Corporation, ONGC, SBI, Britannia Industries and Reliance Industries.
Among sectors, except oil & gas and power, all other indices are trading in the green with auto, capital goods, pharma, IT and realty up 1-2 percent.
BSE Midcap and Smallcap indices up nearly 1 percent each.
बाज़ार बंद:
भारतीय बेंचमार्क सूचकांक 16 फरवरी को लगातार चौथे सत्र में ऊंचे स्तर पर बंद हुए और निफ्टी 22,000 से ऊपर रहा।
निफ्टी पर सबसे अधिक लाभ पाने वालों में विप्रो, एमएंडएम, एसबीआई लाइफ इंश्योरेंस, अदानी पोर्ट्स और एलएंडटी शामिल हैं, जबकि शीर्ष हारने वालों में पावर ग्रिड कॉर्पोरेशन, ओएनजीसी, एसबीआई, ब्रिटानिया इंडस्ट्रीज और रिलायंस इंडस्ट्रीज शामिल हैं।
सेक्टरों में, तेल और गैस और बिजली को छोड़कर, अन्य सभी सूचकांक हरे रंग में कारोबार कर रहे हैं, ऑटो, पूंजीगत सामान, फार्मा, आईटी और रियल्टी 1-2 प्रतिशत ऊपर हैं।
बीएसई मिडकैप और स्मॉलकैप सूचकांकों में लगभग 1 प्रतिशत की बढ़ोतरी हुई।
Zinc Gains As Russian New Ozernoye Mine Has Delayed The Production.
Zinc marked a 1.52% gain, settling at 210.85, driven by news of delays in the commencement of zinc concentrate production at the Russian Ozernoye mine. The mine, facing challenges from Western sanctions and a plant fire in November, now expects production to begin no earlier than the third quarter of 2024, with full capacity ramp-up scheduled for 2025.
Initially projected to start production in 2023, the delays have influenced market sentiment. The zinc market faces headwinds due to subdued demand and concerns about projected surpluses, particularly in the face of China’s property market troubles.
