Watch Manisha Gupta decode the rise in gold prices and what the future holds for the precious metal.
The rupee opened at 65.12 a dollar and touched a high of 65.0250 in day trade after a less hawkish Fed commentary on rate hike in 2018.
Brent crude futures were down 35 cents at $69.12 a barrel by 1048 GMT after rising to $69.70, which was close to the highest level since the start of February. U.S. West Texas Intermediate (WTI) futures fell 24 cents to $64.93.
He is also very upbeat on the water treatment space. VA Tech Wabag is one of his bets and feels that it is a good one.
Watch the interview of David Lennox of Fat Prophets with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities market.
Shah is pointing to the downfall that the segment has seen since the start of the year.
Tapan Patel of LKP Securities discusses with Nigel D’Souza and Reema Tendulkar the current trend in commodities markets.
It is unlikely that there will be sharp corrections in the market but with all the uncertainties with regards to bank NPAs, politics, currency, it is also unlikely to outperform, said Neelkanth Mishra of Credit Suisse.
Navneet Damani of Motilal Oswal Commodities discusses with Manisha Gupta the current trend in commodities markets.
"The Fed even is neutral to positive for the markets for the following reasons. a) relief that only two hikes are expected this year, and b) surprisingly the inflation number has not been revised upwards," VK Sharma, Head PCG and Capital Market Strategy at HDFC Securities told Moneycontrol.
Going forward, we expect the Nifty to consolidate around its 200-DMA before we resume the downtrend.
We advise investors to avoid creating aggressive shorts at the current juncture and instead look to accumulate quality stocks in a staggered manner for the medium-term.
We expect the USD-INR pair to trade in a range of 64.95-65.25 for the day, says Mohan Shenoi of Kotak Mahindra Bank
The rupee is expected to be rangebound as general dollar weakness is offset by weak equity markets and higher crude oil prices, says Mohan Shenoi of Kotak Mahindra Bank.
Mitessh Thakkar of miteshthacker.com recommends buying Dewan Housing Finance with a stop loss of Rs 513 and target of Rs 537, ICICI Prudential Life Insurance with a stop loss of Rs 377 and target of Rs 395 and a buy also on Jubilant Food with a stop loss of Rs 2180 and target of Rs 2275.
"Nifty might revert back to its short term moving average of 20EMA i.e. around 10,325 which might work as immediate hurdle zone," says Rajesh Agarwal of AUM Capital.
All the asset classes clearly would be reacting to the US dollar move right now. US Federal Reserve had maintain three rate hikes in 2018, so you have seen nearly a percentage point of decline since the US Fed meeting yesterday which has supported the commodity prices.
“Nifty may continue oscillating in the price band of 10,230 to 10,000 before next leg of decisive movement.” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
The fourth quarter for largecap IT is likely to be a better than expected setting a context for strong FY19, said Kashyap Pujara of Axis Capital.
The greenback's weakness against other currencies overseas helped the domestic unit, market watchers said.
Ruth Crowell, CEO at London Bullion Market Association (LBMA) discusses with Manisha Gupta about what can India see as a global learning and what do we need to do first to ensure that we do treat gold as an asset class.
Faiyaz Hudani of Kotak Commodity Services discusses with Manisha Gupta the current trend in commodities markets.
Spot gold was 0.4 percent higher at $1,315.84 per ounce at 0746 GMT. Prices fell to a nearly three-week low of $1,306.91 in the previous session.
U.S. West Texas Intermediate (WTI) crude futures were at $63.69 a barrel at 0744 GMT, up 15 cents, or 0.2 percent, from their previous close.
Dharmesh Bhatia of Emirates NBD discusses with Manisha Gupta the current trend in commodities markets.