Market Pearl

Crude Oil Updates U.S. crude inventories fell more than analysts' expectations last week, according to data released Wednesday by the U.S. Department of Energy. Crude oil stockpiles fell 10.6 million barrels to 323.6 million barrels, compared with an average survey estimate of a drop of 2.4 million barrels. The American Petroleum Institute, an industry group, reported a 4.6 million-barrel draw in its weekly report released Tuesday. Futures prices rocketed higher on the news Wednesday, rising 0.9% in the minutes after the release, to $98.94 a barrel on the New York Mercantile Exchange. Gasoline futures were up 1.4% to $2.6165 a gallon, and heating oil was up 2% to $2.9063 a gallon. The week before, crude oil inventories decreased by 1.90 million barrels to 334.20 million barrels. In MCX, Crude up by 0.89% at finally trade on 5199.10.

Copper, the leader of the base metals, declined almost 1 percent on Monday, as signs that the property market was cooling in China, the world’s largest metals consumer, has increased demand fears for industrial metals. The red metal touched an intra-day low of $7198/tonne and closed at the level of $7296/tonne yesterday. On the MCX, Copper February contract declined marginally by 0.1 percent as further fall was not witnessed due to Rupee depreciation on Monday. While In Gold The most-active February gold contract on the Multi Commodity Exchange was 0.31% higher at Rs 27,777 per 10 grams by 4:58 pm. The contract had fallen 5.6% since the beginning of the month. Crude Updates Crude oil rose today, buoyed by the risk of supply being disrupted from Central Asian oil producer Kazakhstan; even as sanctions-hit Iran struggles to maintain its production and Libyan output is delayed.

Gold Updates Gold on Thursday advanced after the European Central Bank cut interest rates for a second straight month. The gold prices gained 0.6 per cent to 1,755.40 dollar an ounce on the Comex in New York, while spot delivery in London advanced 0.5 per cent to 1,751.05 dollar an ounce. Silver also rose by 0.7 per cent to 32.85 dollar an ounce. According to Barclays, ETP investor interest has not accompanied the recent gains and indeed remains weak. Metal held in trust was unchanged previousday but is at its lowest since March last year. Net redemptions for the year to date have reached 567koz exacerbating a market which has been swung into surplus on the back of continued Russian state stock releases. But for now Gold remains caught between soft physical demand, relative strength of the dollar and muted risk appetite. Tata motors stock recommendation Stock strongly on bullish side we recommed it for buy at today trading session Buy Tata Motors at - 191.40 for The Target of 193.