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ANALYSIS

Asia stock markets followed Wall Street lower Wednesday

The Sensex is down 91.50 points at 36968.87.Nifty is down 33.40 points at 10885.30

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On Wednesday Indian indices to be trade in negative,expect pharma and FMCG other sector are trading lower led by the metal, auto, energy, infra and IT.

Asia’s stock markets outpaced Wall Street on Wednesday as investors made a speech by the Federal Reserve chairman to signal possible plans to cut more US interest rates.

US stocks fell on Tuesday after another drop in bond yields and a mixed batch of corporate earnings. Financial sector stocks led the decline.

Markets have “entered a holding pattern” ahead of Powell’s speech at an annual gathering in Jackson Hole, Wyoming .from sourc

Energy:

US crude rose 18 cents to $ 56.31 a barrel in electronic trading on the New York Mercantile Exchange. The contract closed 1 percent down at $ 56.13 on Tuesday. Brent crude, which is used to price international oils, rose 24 cents to $ 60.27 a barrel in London. Contract 27 advanced last season to $ 60.03.

Rupee Update:

On Thursday Indian rupee opened flat at 71.56 per dollar versus previous close 71.55.

ANALYSIS

Market watch ,Wednesday 21

Metal, FMCG and Energy trading lower

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On Wednesday 21 ,the market Started Flat , except IT other indices are trading lower led by the metal, FMCG and energy. Shares of United Spirits gained 3.4 percent on August 21 after promoter Relay BV acquired more shares and increased stake in the company.

On Tuesday Global shares were merged after rallying a day before the US decision to give Chinese telecom giant Huawei for 90 days to buy equipment from US suppliers.

Markets around the world have been swinging back and forth for months on incremental developments in the US-China trade war, with investors eager for any sign of progress.

Asian Market:

Asia shares rise mostly, as Japan’s benchmark Nikkei 225 gained 0.6% to close at 20,677.22.

Australia’s S&P / ASX 200 rose 1.2% to 6,545.00. South Korea’s Kospi rose 1.1% to 1,960.25.

Hong Kong’s Hang Seng fell 0.2% to 26,236.54. The Shanghai Composite was down 0.1% at 2,880.00.

Oil Update:

Benchmark crude oil lost 24 cents to $ 55.97 a barrel. Brent crude fell 25 cents to $ 59.49 a barrel internationally.

Rupee Update:

The Indian rupee gained in the early trade has opened higher by 25 paise at 71.45 per dollar .

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ANALYSIS

Silver technical analysis

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On Wednesday, the Spot silver price was rose by 0.71 per cent to close at $10.9 per ounce. On MCX,

Silver price ended lower by 1.33 per cent at Rs.38073.0 per kg.

Outlook

Appreciating Dollar and rally in global may pressurize the precious metal.

The inventor will have a keen watch on the U.S GDP data which is due this week.

On the MCX, gold price are expected to trade lower today; the international market is trading lower by 0.11 per cent at $ 1277.95 per ounce

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ANALYSIS

Copper technical analysis

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LME copper ended higher by 0.6 per cent to close at Rs 451.0 per kg. Strong growth in China and optimism over a possible trade deal between U.S and China supported the red metal prices.

The report given by the International Copper Study Group (ICSG), the global refined copper output in January 2019 was in deficit of 8,000 tonnes as compared to 11,000 tonnes excess in December 2018.

Outlook

LME Copper price is currently trading lower by 0.04 per cent at $6447.25 per tonne. The expectation of steady growth in China in the second quarter amid U.S and China nearing a trade deal may support the industrial metal prices.

On MCX, copper prices are expected to trade higher today

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