अमेरिका में क्रूड की सप्लाई बढ़ने के कारण क्रूड के दाम में गिरावट आई है। फिलहाल ब्रेंट क्रूड 0.5 फीसदी गिरकर 55.7 डॉलर के पर कारोबार कर रहा है। वहीं नायमैक्स पर डब्ल्यूटीआई क्रूड 0.6 फीसदी फिसलकर 52.9 डॉलर पर कारोबार कर रहा है।
Metals Tonnes Change
Aluminum 2231300 -6200
Copper 248200 -3325
Nickel 381864 -720
Lead 188625 -200
Zinc 383425 -750
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The state government of Haryana has drafted a new textile policy which provides fiscal incentives for setting up of new units and for modernisation of the existing textile industry in the state. The policy aims to make Haryana a global hub of textile manufacturing by attracting investment to the tune of Rs 5,000 crore, and thereby creating 50,000 new jobs.
The draft policy, which has been put by the state
government in public domain, contains provisions for infrastructure
augmentation, setting up of textile parks and facilities for skill
training.
As per the draft policy, a 10 % capital subsidy will be available for the eligible new textile projects across the state. Further, HSIIDC will offer industrial plots for a lease of 33 years with 5 per cent increase in annual lease rent for those enterprises setting up new project.
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Silver trading range for the day is 41719-42623.Silver prices gained as investors scaled back expectations for a more aggressive pace of rate hikes from the Federal Reserve this year.Support also seen as greenback has been under pressure amid growing concern about the potential impact of the Trump Administrations protectionist stance.The U.S. economy added 227,000 jobs in January from the prior month, the Labor Department while the unemployment rate ticked up to 4.8% from 4.7% in December.
Soyabean trading range for the day is 3057-3129.Soyabean prices ended with losses on expectations of ample supply in the domestic spot market.IGC raised its soybean production forecast for India, to 11.5 million tons compared to 8.6 million tons estimated for 2015-16.NCDEX accredited warehouses soyabean stocks gained by 636 tonnes to 187852 tonnes.At the Indore spot market in top producer MP, soybean remains unchanged at 0 Rupees to 3070 Rupees per 100 kgs.
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Sugar Futures on NCDEX closed higher last as India’s sugar production fell by 10 % to 128.6 lt in the first four months of the 2016 - 17 marketing year that started Oct ober last, due to lower cane production in Maharashtra because of drought. Earlier, ISMA assures that the supplies are comfortable and the country won't need to import sugar this season.
ISMA has lowered sugar production estimate for 2016 - 17 to 21.3 mt by about 9 % compared to 23.37 mt, projected in Sep 2016. Raw sugar futures on ICE rallied to a 2 - 1/2 - month high on Friday, on support from chart - based buy signals and expectations for demand from top consumer India, while the market made its biggest weekly rise in four weeks.
Outlook
We expect sugar prices to trade sideways to higher on reports of good physical demand from the industrial buyers and stockists and lower sugar production by the ISMA this season.
Menthaoil trading range for the day is 988.2-1012.6.Mentha oil spot at
Sambhal closed at 1117.30 per 1kg. Spot prices was up by Rs.0.40-.Mentha
oil prices dropped amid muted demand in the domestic spot
market.Pressure seen on prices on the speculation the area under
cultivation can incerese this year resulting good production.Sources
mentioned that nearly 14500 MT of mint products were exported in six
months of the current financial year.
Mentha oil futures were trading higher during morning trade in the domestic market on Monday as investors and speculators build up fresh bets in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.
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At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1004 per kg, up by 0.55 %, after opening at Rs 1003, against the previous closing price of Rs 998.50.10. It touched the intra-day high of Rs 1006.
