MENTHA OIL FUTURES ON MCX
After a 13% rally so far this year, is upside in MCX crude oil futures capped?
European Union's sanctions and China's economic concerns pose challenges for oil demand. Amidst the ongoing rally, uncertainties like a potential ceasefire in Gaza and China's economic health could influence oil prices. Expert projections hint at sustainability hurdles for the current uptrend in crude oil prices.
Gold price movement: Fed action impact & what history suggests in a falling rate regime?
Gold investors await the outcome of the Federal Open Market Committee (FOMC) meeting for insights on the US Federal Reserve's interest rate cut impact. The European Central Bank and Bank of Canada have already reduced policy rates.
FII action, rupee movement among 11 factors to set D-Street mood this week
Nifty closed the week with a 2.2% increase despite notable ups and downs, as seen in the India VIX reaching a 52-week peak with almost a 10% rise over four sessions. As trading resumes next Monday, numerous significant local and international events scheduled throughout the week are anticipated to influence market dynamics.
Crude oil prices near 2-month lows. What’s next?
The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar correction was witnessed in the Asian Brent and the domestic MCX futures as well.
Commodity Talk: Crude oil at multi-month highs. Jigar Pandit suggests dip buying
Jigar Pandit forecasts $92-$95 Brent crude price and Rs 7,300 MCX price for 2024, urging investors to capitalize on corrections amid geopolitical uncertainties impacting crude oil supply and demand dynamics. He also says: "As the US FOMC has indicated a possible three rate cut in 2024, we expect the dollar to weaken, while the demand remains healthy for crude oil from emerging markets and Asia."
FOMC, FII action among 10 factors to impact D-Street movement this week
Nifty down 2.1% due to selling in various stocks. IT stocks gained. Market to resume with focus on Fed's monetary policy, US Fed's interest rate decision, and other global events impacting trading. Arvinder Singh Nanda says "the broader index to likely face hurdle at 22,250-22,350 in the coming sessions, with support at 21900-21800."
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Stocks in news: SBI, Canara Bank, CMS Infosystems, Paytm, Indian Oil
Vijay Shekhar Sharma will be stepping down as part-time non-executive chairman and board member at Paytm Payments Bank as part of a board restructuring.
Crude oil prices are already up 10% this year. What’s next?
The Middle East is a critical area for global energy production and transportation, with several major oil-producing countries that combinedly contribute more than 30 percent of global oil production.
MCX commences trading after a four-hour delay
The exchange deferred the timings of resumption twice before the trade started. In a circular issued by MCX, it said that the trading hours for the commodity derivatives segment for February 13, 2024, have been revised from 9 am to 1 pm.
Gold Rate Today: Yellow metal set to end with weekly gains. Is it time to buy?
While the MCX April gold futures were trading at 62,900 per 10 grams at 10:30 am, down Rs 65, the March Silver contracts were down Rs 53 or 0.07% at Rs 72,165 per kg.
Budget 2024: Industry calls for govt revisit on agri commodity futures trade ban
The continued linked the prosperity of the market on the agility of policies, adherence to principles of fairness, and timely adaptations to meet the evolving needs of both the market and its investors
ITC to outperform Lever in near term; bullish on 2 chemical stocks: Sanjiv Bhasin
“The chemical industry seems to have bottomed out and if there is going to be progress on the China front in other avenues of destocking being over, this industry on the back of being a laggard in the last six months can come out to be an outperformer. Both SRF and Aarti are in our portfolio and we are extremely bullish on them in the slightly longer term”.
Breakout Stocks: How to trade Adani Power, MCX and New India Assurance on Wednesday
Sectorally, buying was seen in energy, oil & gas, utilities, and power stocks while healthcare, capital goods, FMCG and telecom stocks saw some selling pressure
MCX prepones launch of WTI crude oil, natural gas options contracts to October 9
On September 26, India's largest commodity exchange announced that it has received a nod from the Securities and Exchange Board of India (Sebi) to launch options contracts on underlying WTI crude oil and natural gas futures on the NSE
MCX crude oil at 10-month high. Should you buy at current levels?
After a strong rally, crude oil futures are witnessing some profit-booking at higher levels, but the overall trend remains positive, and a buy-on-dips strategy is recommended, analyst Anuj Gupta, Head Commodity & Currency at HDFC Securities, told ETMarkets. He suggests a buy at Rs 7,050 with a stop loss of Rs 6,950 and a target of Rs 7,300.
Mentha oil futures jump 6% intraday, 25% in August. Is correction on cards?
Commodity and currency expert Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi said that mentha oil prices have seen a dramatic rise in the last couple of weeks as supply-side fundamentals are seen tightening amid an expected drop in output during the 2023-24 season. "Output of this oil is seen declining for a second straight year and thus carryover stocks will shrink further by the end of the season," Qureshi said.
Mentha oil futures continue to rise. Here's how to trade today
Mentha oil futures have jumped more than 18% in August and are currently trading at a 4-month high level, riding on sentiments around the fall in output and amid hopes prices could remain firm, said experts.
Mentha oil prices rise 18% so far in August. Should traders buy or book profits?
Commenting on the current surge, Anuj Gupta, Head Commodity & Currency, HDFC Securities said the rally in mentha oil futures has been on the back of crop damage due to floods in many areas where the crop is sown, including Barabanki, Chandausi and Rampur, low arrivals and growing export demands.
Commodity Talk: Crude oil to remain volatile amid US debt crisis, says Prathmesh Mallya of Angel One
Oil prices are likely to remain volatile until the US debt ceiling crisis is resolved on June 1, according to Prathamesh Mallya of Angel One. As the US government has always approved the debt ceiling in the past, it is likely to be a last-minute approval on this occasion as well. Regardless of the outcome, the consumption of oil will continue, with factors such as a slowdown in China and a stronger dollar creating impact on the prices of oil and resulting in high volatility in the market.
Learn With ETMarkets: Understanding investment options; trading instruments
he cash segment includes bonds, stocks, and mutual funds, and is suitable for long-term investments. Investors need sufficient funds to buy stocks in cash markets, whereas F&O markets require only margin money. Hedge funds and REITs offer higher returns with more flexibility and stricter regulations, respectively. Commodity, currency, and interest rate derivatives are traded in the F&O market. Futures and options allow investors to buy or sell assets at a set price in the future.
Oil stocks in focus: ONGC, OIL gain up to 6% on OPEC+’s production cut; HPCL, BPCL plunge 4%
At 9.30 am, shares of ONGC were trading at Rs 157.40, up Rs 6.35 or 4.20% from Friday’s closing price while those of OIL were up nearly 6% or by Rs 14 at Rs 266.15. ONGC and OIL are one of the largest crude oil and natural gas companies in India which are in the business of exploration and production of oil and gas.
Crude on boil! Surprise Opec+ cut may fire oil prices to $90-95 by 2023-end
Meanwhile, Goldman Sachs raised Brent crude price forecast for December 2023 to $95 per bbl and December 2024 forecast to $100 per bbl following the announcement. The global investment bank lowered its end-2023 production forecast for OPEC+ by 1.1 million bpd.
Sebi imposes Rs 1.55-crore fine on 23 entities for flouting regulatory norms
Further, MCX submitted its observations to Sebi in June 2018 and conducted a detailed examination to find out whether certain connected entities intended to corner the market on long side in mentha oil contracts thereby violating the position limits as prescribed by the regulator.
Goldman Sachs cuts Brent crude futures forecast to $94
He said that weakness in oil prices is welcome news from the Indian standpoint as this would lower India’s import bills lowering the current account deficit (CAD). Imports account for over 80% of the country's oil requirements, Gupta noted.
MCX Crude oil futures fall 10% since SVB collapse; should you sell on rise?
"With the adverse perception of the banking crisis and the rising crude stockpiles, crude prices are anticipated to be under pressure," Prathamesh Mallya, Assistant Vice President (AVP) - Research, Non-Agri Commodities, and Currencies at Angel One said.
Gold Price Today: MCX Gold futures fall 1.7% since Powell's testimony; analyst recommends sell on rise
Fed Chair Jerome Powell's admission of sharper interest rate hike on March 8, 2023 before the US Senate Banking committee has dampened the mood for the bullion. “Sharper interest rate hikes will likely strengthen the dollar and take sheen from the yellow metal,” said Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities
MCX-traded minty commodity reviving its upside
Price has completed a corrective move from 1080 to 990 and had been consolidating thereafter. An inverse head and shoulders pattern breakout can be seen above 1020 levels on the hourly chart. The breakout in price is validated by the rise in volume. This confirms the end of the corrective phase and the resumption of the upside in price.
Is black gold about to take off?
This commodity has been sliding down from the peak of 9400 on June 22 to the bottom of 5900 in November. Recently it was observed to be consolidating in the 5900-6750 range since November. Within the said range price has made a higher low at 6100 and is now testing the resistance offered by a falling trendline.
Price has given a breakout from long phase of consolidation in this MCX-traded commodity
From Mid-July-August of 2022 to the end of December price was seen consolidating in the 1030-940 range. This week’s price has given a breakout from this range and has already moved up by 2%. The rise in price is accompanied by a rise in volume which indicates that trader participation has increased in the commodity. This adds more reliability to the breakout.
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