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Friday, 23 June 2017

Stock and Commodity Market Update (23rd June)

Equity benchmarks fell further in afternoon trade, with the Sensex down 134.05 points at 31,156.69 on profit booking amid consolidation. The 30-share NSE Nifty dropped 53.05 points to 9,576.95 on weak market breadth. The BSE Midcap index shed 1.4 percent and the Smallcap index extended losses, down 1.8 percent as about five shares declined for every share rising on the exchange. 

ENERGY: Crude oil prices rose on yesterday, a day after hitting 10-month lows, but market sentiment remained negative because the global crude glut has persisted despite OPEC-led output cuts.

BASE METALS: Base metals complex closed the session with positive gains ahead of next weeks U.S. inflation-linked indicator including June consumer confidence indicator, pending home sales, revised first quarter GDP and the PCE price index. Aluminium stocks in LME approved warehouses are up around 13,000 tonnes this week to above 1.43 million tonnes