At least six lakh bales of cotton have been exported since October beginning but exporters are facing problems due to a lack of containers or vessels.
Globally, edible oil prices have spiked due to problems in US soybean crop, a drought in Brazil, Argentine growers' reluctance to sell and a poor sunflower crop in Ukraine.
Markets generally are tense about the unknowns and tend to move on once major events cross over. Hence, in the medium term, markets could continue their V-shaped recovery.
The rupee's trajectory will heavily be dependent on FII flows into the Indian market coupled with early vaccine hopes for COVID-19.
Regardless of who wins this election, an increase in the fiscal deficit is certain. This condition alone bodes well for gold and silver prices, says Navneet Damani of Motilal Oswal Financial Services.
Though the Indian economy is expected to contract, green shoots are visible across segments like affordable housing, agriculture equipment and consumer products.
The Association of Natural Rubber Producing Countries has reported an 8.7 percent fall in global rubber production to 7.778 million tonnes. It expects production to be 6.8 percent lower this year at 12.90 million tonnes.
With the upcoming weekly expiry also being the monthly expiry, looks like the excessive writing was missing on an aggregate basis pushing the overall OIPCR a tad bit up last week.
Remember, the price of a stock is always justified by the underlying value of a company.
Gold ETFs have registered continuous growth in AUM since the beginning of the year.
Investing in good IPOs can be extremely rewarding and motivating, especially for those who are planning to enter the market through it. Just make sure that the decision is well informed, says 5Paisa.com CEO Prakarsh Gagdani.
Moving forward, Nifty has to hold above 11,820 levels to witness an upmove towards 12,100 while on the downside, key support exists at 11,777-11,750 zones.
Global soybean and soymeal prices have spurted in the last two months due to dry weather in Brazil that is feared to affect production.
Ratio Spreads would give a lot of advantage against the peril of Time Value Decay. The stop loss would be minuscule and over passage of time would outperform single Call.
11,800-11,750 are likely to act as an immediate floor for Nifty50.
A win by President Trump means the US may continue to pressurize China but we need to see if Joe Biden will maintain the status quo or soften its stance.
Gold along with other commodities has turned choppy amid volatility in equity and currency markets as market players assess possibility of US stimulus deal.
India VIX continued to trend higher as participants prepare for upcoming volatility as markets near term key zone of 12k, upcoming global news flow regarding the US election and ongoing earnings session likely to keep traders on edge.
We however maintain buy on dips view as increasing challenges to global economy may increase gold’s safe haven appeal while US dollar may remain pressurized by concerns about health of US economy.
Currently, global cotton prices are ruling at Rs 43,000 a quintal for varieties at par with Shankar-6 giving Indian cotton an advantage.
Fundamentally for the month ahead, we are expecting NCDEX Soybean futures to trade bullish, as all India sowing acreage has been similar at 120.6 lakh hectares compared to previous year.
All eyes are now on the second round wave of lockdowns being imposed in parts of the world, particularly in the US, the UK and Europe, where consumption is still well below pre-pandemic levels.
A further fall will make markets healthy for fresh entry as Indian equities have been in the overbought zone for quite some time.
The downside is expected to be capped at $37 being a strong support zone.
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