MCX Bullion updates
MCX Silver showing some down side pressure. Global gold prices may remain bullish this week and try to move to the $1,800-an-ounce level as momentum helps to propel prices up. Global gold prices were down last week and advanced by 5.1% on the month. The most-active December gold contract settled at $1,773.90 an ounce on the Comex division of the New York Mercantile Exchange. Trade volume in markets may be lighter than usual as China celebrates holidays this week. Several market watchers pointed out last week that gold priced in euros set a new record high last week, and given the current environment for gold, prices may rise further.
With a cooler-than-normal weather predicted for the next fortnight, natural gas futures are up on the MCX with the October contract gaining 1.93% at Rs.179.50.
The November futures ended on the NYMEX on Friday adding 0.5% to settle at $3.313 per million British thermal units. The contract is up $0.065 at $3.385 as on 1:30:07 AM CT. However, upward risks remain for the trajectory of production in natural gas as the majority of latent supply is due to come online in Q4, said Barclays in a report.
Stock Market Review of the Day
The BSE Sensex gained 68.86 points or 0.37% and settled at 18,831.60. The index touched a high and a low of 18,838.54 and 18,745.28 respectively. 14 stocks were seen advancing while 16 stocks were declining on the index (Provisional)
The BSE Mid-cap index was up by 0.86% while Small-cap index was up 1.44%. (Provisional)
On the BSE Sectoral front, IT up by 1.88%, TECk was up 1.49%, Capital Goods was up 0.69%, Auto up by 0.54% and Power was up 0.53% were the top gainers, while Oil & Gas down by 0.18% and Bankex down by 0.02% were the only losers in the space.
The S&P CNX Nifty gained 16.30 points or 0.29% to settle at 5,719.60. The index touched high and low of 5,722.95 and 5,694.00 respectively. 26 stocks advanced against 24 declining ones on the index.
MCX Silver showing some down side pressure. Global gold prices may remain bullish this week and try to move to the $1,800-an-ounce level as momentum helps to propel prices up. Global gold prices were down last week and advanced by 5.1% on the month. The most-active December gold contract settled at $1,773.90 an ounce on the Comex division of the New York Mercantile Exchange. Trade volume in markets may be lighter than usual as China celebrates holidays this week. Several market watchers pointed out last week that gold priced in euros set a new record high last week, and given the current environment for gold, prices may rise further.
With a cooler-than-normal weather predicted for the next fortnight, natural gas futures are up on the MCX with the October contract gaining 1.93% at Rs.179.50.
The November futures ended on the NYMEX on Friday adding 0.5% to settle at $3.313 per million British thermal units. The contract is up $0.065 at $3.385 as on 1:30:07 AM CT. However, upward risks remain for the trajectory of production in natural gas as the majority of latent supply is due to come online in Q4, said Barclays in a report.
Stock Market Review of the Day
The BSE Sensex gained 68.86 points or 0.37% and settled at 18,831.60. The index touched a high and a low of 18,838.54 and 18,745.28 respectively. 14 stocks were seen advancing while 16 stocks were declining on the index (Provisional)
The BSE Mid-cap index was up by 0.86% while Small-cap index was up 1.44%. (Provisional)
On the BSE Sectoral front, IT up by 1.88%, TECk was up 1.49%, Capital Goods was up 0.69%, Auto up by 0.54% and Power was up 0.53% were the top gainers, while Oil & Gas down by 0.18% and Bankex down by 0.02% were the only losers in the space.
The S&P CNX Nifty gained 16.30 points or 0.29% to settle at 5,719.60. The index touched high and low of 5,722.95 and 5,694.00 respectively. 26 stocks advanced against 24 declining ones on the index.