Domestic trade – Rodda And Sons http://www.roddaandsons.com/ Wed, 14 Sep 2022 01:41:52 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.roddaandsons.com/wp-content/uploads/2021/03/cropped-icon-32x32.png Domestic trade – Rodda And Sons http://www.roddaandsons.com/ 32 32 Futures trading in agricultural commodities does not lead to price changes: study https://www.roddaandsons.com/futures-trading-in-agricultural-commodities-does-not-lead-to-price-changes-study/ Tue, 13 Sep 2022 21:05:00 +0000 https://www.roddaandsons.com/futures-trading-in-agricultural-commodities-does-not-lead-to-price-changes-study/ The suspension of futures trading of several agricultural commodities on commodity exchanges last year had no impact on retail price volatility, according to a study by three researchers, including one from the Indian Institute of management (IIM) of Udaipur. Stating that futures market suspension is often justified because of speculative activity emanating from trading in […]]]>

The suspension of futures trading of several agricultural commodities on commodity exchanges last year had no impact on retail price volatility, according to a study by three researchers, including one from the Indian Institute of management (IIM) of Udaipur.

Stating that futures market suspension is often justified because of speculative activity emanating from trading in the futures market, the study titled “Assessing the Impact of Commodity Derivatives Suspension” stated that it found no role of the futures market on price changes. Nor does it find any empirical evidence of the impact of the trade suspension on price behavior.

On the retail prices of mustard oil before and after the imposition of the futures trading ban in October 2021, the study found that retail prices for the product showed an increase in volatility following the imposition of the futures trading ban. ban while the prices of all other edible oils, regardless of their commercial status in the derivatives market, declined.

“This indicates no impact of the suspension of derivatives contracts on mustard oil prices,” noted the study which focused on two commodities – mustard and chana. “The analysis shows that mustard oil prices would have had a similar trend even without the suspension,” the study said.

In the case of chana, whose futures trading was banned in August last year, price volatility was minimal after and before the imposition of the suspension.

Detailed price movements and other information on mustard and chana have been analyzed as their demand is largely met by domestic production.

Also Read: India Labor Market Outlook Strong for October-December; 54% of companies plan to hire

Since 2005, the government has so far suspended 17 futures contracts to curb the inflationary trend.

To curb inflation, on December 20, 2021, the commodity exchange regulator Securities and Exchange Board of India banned futures trading in wheat, paddy (non-basmati), chana, mustard seed, soybeans, crude palm oil and moong for one year. Previously, futures trading in mustard seeds and chana (gram) was suspended on October 8, 2021 and August 16, 2021

Stating that the suspension of futures trading such as mustard seed and other commodities discourages the growth of domestic agricultural derivatives markets, the study noted that the move prevents India from setting global benchmark prices. , although it is the main producer and consumer of several agricultural products. .

Calling for the lifting of the ban on futures trading for the development of the agricultural derivatives market, the study suggested that there should be strict market surveillance and effective enforcement, transparency and timely availability. information on production and inventory trends, which took the fear out of the market. volatility.

The suspension of futures trading is hampering growth in the development of quality networks under the Warehousing Development and Regulation Authority, which provides transparency and traceability of agricultural commodity stocks through a Electronic Negotiable Warehouse Receipt (e-NWR) issued to farmers.

According to Vijaya Lakshmi Nandendla, Joint Secretary of the Ministry of Agriculture, there is a need to raise awareness and understanding of the derivatives market where price risk can be hedged among key stakeholders including farmers in the chain. of agricultural value.

The study was carried out on behalf of the NCDEX Investor Protection Trust Fund. The objective of the study was to assess the impact of various policy decisions on the development of the cash market and derivatives.

The study was carried out by Nidhi Aggarwarl, IIM, Udaipur, Tirtha Chatterjee, Jindal School of Government and Public Policy and Karan Sehgal of Carlos III University of Madrid.

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Brahmastra’s box office receipts are driven more by high ticket prices than theater attendance https://www.roddaandsons.com/brahmastras-box-office-receipts-are-driven-more-by-high-ticket-prices-than-theater-attendance/ Mon, 12 Sep 2022 08:47:05 +0000 https://www.roddaandsons.com/brahmastras-box-office-receipts-are-driven-more-by-high-ticket-prices-than-theater-attendance/ Brahmastra Part One: Shiva, the first installment of Bollywood’s ambitious “Astraverse” trilogy, roared at the box office this weekend. The film has grossed over Rs 123 crore in domestic collections in the Hindi and Southern markets (Rs 15 crore) in three days, in what is being billed as Bollywood’s biggest opening of the year. brahmastra […]]]>

Brahmastra Part One: Shiva, the first installment of Bollywood’s ambitious “Astraverse” trilogy, roared at the box office this weekend. The film has grossed over Rs 123 crore in domestic collections in the Hindi and Southern markets (Rs 15 crore) in three days, in what is being billed as Bollywood’s biggest opening of the year.

brahmastra lifted not only the sentiments of the film trade, but also the stocks of multiplex operators. Shares of PVR rose 3.85%, while Inox gained 4.45% in afternoon trading on BSE Monday.

What really drives collections? Is it increased attendance or higher ticket prices or dubbed versions of the film in regional markets?

Brokers say theater attendance and occupancy continues to be 20% below pre-Covid levels. “If you compare the steps of brahmastra to a full-scale pre-Covid Hindi release like Kabir Singh Where War, it is down at least 20 percent. And that’s the problem for the industry now,” said Karan Taurani, SVP, Elara Capital. business today.

“Also in the first quarter of FY23, traffic was down 8-10% despite having such great content. Even for RRR, traffic was down 20% from Baahubali,” he shares.

Break down the numbers

So if you read the fine print, it appears that significantly higher ticket prices (a 25-30% premium) at multiplex chains have resulted in from Brahmastra opening of the weekend collections. “National channels are seeing extraordinary numbers,” tweeted business analyst Taran Adarsh. It pegs weekend collections from top multiplex operators at nearly Rs 60 crore.

A quick tour of the main multiplexes on the Mumbai circuit, which contributes a major share of Bollywood’s box office, reveals that tickets to Brahmastra have been sold at obscene prices in some places.

Even for the standard 2D format, the cost of a non-reclining seat is over Rs 600 in PVR, Inox and Cinepolis. While those of 3D versions in high-end and luxury cinemas have crossed the Rs 1,000 mark in INOX Insignia, PVR Luxe and Jio Drive-in theatre, PVR.

Taurani says, “Ticket prices went up 30% because of the 3D version, so the opening was strong. The film is popular with 15-25 year olds due to its visual effects.

Graphics by: Pragati Srivastava

Regional and overseas are essential

He believes, however, that box office numbers will see a “sharp drop” on weekdays because weekend highs are not “sustainable”. As a result, regional and overseas markets become critical in determining the lifetime collections of brahmastra.

“The economy becomes difficult if these films are not shot abroad. Growth will come if that happens,” says Taurani. According to his projections, brahmastra could potentially earn Rs 120-130 crore from international territories.

As for the Southern markets, business analyst Sumit Kadel shares dubbed versions of brahmastra brought in Rs 15 crore over the weekend. According to Elara Capital’s estimates, the dubbed versions could contribute around 15% to the film’s lifetime collections, which is less than the 40% Hindi dubbed version made for RRR.

Beyond the granular economy, the pervasive question is: Will brahmastra recoup its gigantic production cost (est. Rs 450 crore)?

“With home network at Rs 160 crore max, international at over Rs 120 crore, satellite and digital getting another Rs 120 crore and music bringing in Rs 20 crore, there could still be a shortfall,” says Taurani.

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Chinese, Nigeria boost trade as ENL, Sinoma sign deal https://www.roddaandsons.com/chinese-nigeria-boost-trade-as-enl-sinoma-sign-deal/ Sat, 10 Sep 2022 16:17:14 +0000 https://www.roddaandsons.com/chinese-nigeria-boost-trade-as-enl-sinoma-sign-deal/ Sinoma Cargo International Nigeria Limited has signed an agreement with Nigeria’s leading terminal operator, ENL Consortium Limited, to boost maritime trade between China and Nigeria. The agreement was signed in Lagos on Wednesday during the 5th China-Nigeria Special Line Platform Supply Chain Conference. The conference, which takes place every year, was organized by Lianyungang Port […]]]>

Sinoma Cargo International Nigeria Limited has signed an agreement with Nigeria’s leading terminal operator, ENL Consortium Limited, to boost maritime trade between China and Nigeria.

The agreement was signed in Lagos on Wednesday during the 5th China-Nigeria Special Line Platform Supply Chain Conference.

The conference, which takes place every year, was organized by Lianyungang Port Holdings Group Co., Ltd, Sinoma International (Nanjing) Engineering Co., Ltd, NJZC International Construction Nig. Ltd and ENL Consortium Ltd.

In his remarks at the event, the Commercial Consul of the Consulate General of the People’s Republic of China in Lagos, Guo Pengwen, noted that the existing bilateral relationship between Nigeria and China has enormous potential, following the volumes of trade between the two countries.

“China-Nigeria special line logistics are also promising. In international trade, logistics is a very important link, which plays a very important role in the cost, safety, convenience and speed of international trade. The superposition of international geopolitical conflicts, the epidemic of the century and the changes of the century have led to violent fluctuations in the global supply chain, and the cost of international logistics and warehousing has risen sharply.

“To build a new pattern of development of domestic and international dual circulation, it is necessary to fill the gaps in international logistics as soon as possible and create a global supply chain logistics system that works for us,” he said. said the trade consul.

In her presentation, the Executive Vice President/CEO of the ENL Consortium, Princess Vicky Haastrup, recounted how trade relations between Nigeria and China have evolved since the 1970s.

“Given these trade relations, the rise of the Chinese economy has shifted the direction of Nigeria’s trade and investment away from its traditional trade and investment partners such as the United States and Western Europe towards China, India and Brazil.

“The recent increase in Chinese investment in Nigeria provides an alternative source of external financing to Nigeria. This is not unrelated to the agreement signed between the two countries on the establishment of the China Center for Investment Development and Trade Promotion in Nigeria and the Nigeria Trade Office in China.

“The operations of Chinese companies in Nigerian territory, especially in the fields of oil and gas, power, construction, real estate and telecommunications, have further strengthened bilateral cooperation between the two countries” , she said.

Haastrup regretted that Nigeria’s efforts to increase exports to China have been limited by a lack of exportable products, coupled with a poor competitive position.

Also speaking, Chairman of the Nigerian Ports Advisory Board, Otunba Kunle Folarin, expressed his optimism that trade relations between Nigeria and China will continue to grow given the huge economic potentials of the two countries.

The conference brought together representatives of terminal operators, shipping companies, importers, exporters and traders from China and Nigeria.

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Outcome of TRIPS waiver: National IP reform needed https://www.roddaandsons.com/outcome-of-trips-waiver-national-ip-reform-needed/ Thu, 08 Sep 2022 22:45:27 +0000 https://www.roddaandsons.com/outcome-of-trips-waiver-national-ip-reform-needed/ The COVID-19 pandemic has highlighted the need for pandemic preparedness in low- and middle-income countries (LMICs) with vulnerable populations. LMICs face a double burden during pandemics as they are often the last to access available medicines and vaccines to reduce life-threatening illnesses. This does not bode well for LMICs whose public health systems are overburdened. […]]]>

The COVID-19 pandemic has highlighted the need for pandemic preparedness in low- and middle-income countries (LMICs) with vulnerable populations. LMICs face a double burden during pandemics as they are often the last to access available medicines and vaccines to reduce life-threatening illnesses. This does not bode well for LMICs whose public health systems are overburdened.

National intellectual property reform is necessary for pandemic preparedness to enable local production and manufacturing. It will also promote technology transfer. Most importantly, it will increase access to affordable medicines and realize people’s right to health services.

Why the TRIPS waiver is important

National intellectual property law reform is not limited to pandemics or access to medical technologies related to COVID-19. People in South Africa still struggle to access life-saving medicines for diseases like cancer due to high prices due in large part to intellectual property barriers and limited access options. For example, bendamustine is a cancer drug that treats lymphoma. It costs R4218 in South Africa but R752 in India. The drug’s patent exists in South Africa until 2031, which blocks entry of an affordable generic version.

Patents granted and maintained in South Africa include those withdrawn and refused in Europe, Israel and Colombia. Adcock Ingram, a South African manufacturer, has a registered generic of bendamustine, but cannot sell it due to patent blocks. Cases like this prevent local manufacturing from ensuring better and affordable access to medicines for people.

TRIPS waiver on the agenda of the WTO conference

The long-awaited Twelfth Ministerial Conference of the World Trade Organization (WTO) was held between 12e and 17e of June 2022. The hope was to find a solution to help increase the access of PRITIs to medical tools related to Covid-19.

On the agenda was the TRIPS waiver, which sought to remove intellectual property protections on COVID-19 medical tools. The waiver would allow for increased production and supply of COVID-19 vaccines, therapeutics and diagnostics worldwide, especially for vulnerable LMIC communities.

After months of negotiations, the WTO has reached a disappointing ministerial decision that does not waive any intellectual property over COVID-19 medical tools. Instead, it clarifies existing public health flexibilities within the TRIPS Agreement, particularly on procedures for the use of compulsory licenses on patented products. He limited the decision to vaccines and excluded therapeutics and diagnostics that are crucial in the fight against COVID-19. The decision does not correspond to the current pandemic. It also sets a negative precedent for future responses to the pandemic.

The disappointing WTO result reinforces the urgency of reforming national intellectual property laws in the interest of public health and the realization of people’s constitutional right to access health services. In May 2018, the Department of Trade, Industry and Competition (DTIC), in its Intellectual Property Policy I, recognized the need for national reform in the interest of public health. But limited progress in starting legislative reforms.

The policy identified the introduction of Substantial Patent Search and Examination (SSE) as a critical step to ensure that the decision to grant patents is made after a rigorous review and examination process. The South African government has also started training its first generation of patent examiners. This opens up opportunities to integrate public health consideration into future review practices to ensure that the policy objective is being adequately met.

mRNA Technology Transfer Center Faces Intellectual Property Challenges

The World Health Organization (WHO) mRNA Technology Transfer Center faces various intellectual property challenges. Based in South Africa, the hub has responded to global inequalities in access to COVID-19 vaccines. The hub
faces various intellectual property challenges. These include Moderna’s patents on mRNA technology,
granted in South Africa but rejected in countries such as Brazil and China. Introducing substantive review would be key to dismissing patents as broad as Moderna’s mRNA patent, which poses a legal risk to the mRNA Hub
and thus creates obstacles to the introduction of the vaccine on the South African market.

South African patent laws have not changed since the 1970s and are not constitutional. The Constitution obliges the State to realize the right of people to access health services. Moreover, stagnating laws perpetuate a lack of generic competition, driving up the price of life-saving drugs. The COVID-19 pandemic has highlighted a more pressing threat and the need for us to strengthen local response mechanisms for future health emergencies. Reforming our patent laws is a good starting point for maximizing our use of TRIPS flexibilities to help solve long-standing problems of access to medicines. There has never been a more urgent time than now to release the patent bill. – e-Health News

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Trade Setup for Monday: Key Things to Know Ahead of the Market’s Opening Bell Today https://www.roddaandsons.com/trade-setup-for-monday-key-things-to-know-ahead-of-the-markets-opening-bell-today/ Mon, 05 Sep 2022 00:38:26 +0000 https://www.roddaandsons.com/trade-setup-for-monday-key-things-to-know-ahead-of-the-markets-opening-bell-today/ Trade setup for Monday: After trading very volatile on Friday, major benchmarks closed around their Thursday close as NSE Nifty ended down 3 points at 17,539 and BSE Sensex ended up 36 points at 58,803. , the Nifty Bank index jumped 119 points and closed at 39,421 levels. The mid-cap index underperformed Nifty down 0.35% […]]]>

Trade setup for Monday: After trading very volatile on Friday, major benchmarks closed around their Thursday close as NSE Nifty ended down 3 points at 17,539 and BSE Sensex ended up 36 points at 58,803. , the Nifty Bank index jumped 119 points and closed at 39,421 levels. The mid-cap index underperformed Nifty down 0.35% even as the expected rate of decline was negative at 0.86:1. Among sectors, the capital goods index had the most rose while the oil and gas and metals indices fell the most.

Here we list the key things you need to know before the market opens today:

Global market signals

In Friday’s session, Wall Street saw strong selling over the weekend as the Dow Jones ended down 1.07, the tech-heavy Nasdaq ended down 1.31%, the S&P 500 slid 1.07% while Small Cap 2000 fell 0.81%. Global stocks were heading for a 3% loss on the week as the dollar hit 24-year highs against the yen ahead of key US jobs data as investors brace for the coronavirus report. employment in the United States on Friday last week and aggressive rate hikes by the Federal Reserve. . The likely resumption of Russian gas deliveries to Europe has stabilized sentiment in Europe.

Clever technical insights

Speaking on the outlook for the Nifty 50 index, Mehul Kothari, AVP – Technical Research at Anand Rathi, said: “The bearish shark pattern on the Nifty 50 index is still intact. broke through the previous week’s low after nine weeks, which initially indicates a sign of weakness. We are also seeing a reversal candlestick pattern on the weekly scale. We reiterate that; even a low correction of 38, 6% of the entire rally from 15200 to 18000 could lead to a bigger crack in equities.Thus, we maintain our position that the prudent strategy may be to avoid further long positions on the indices and to make gains. profits in commercial bets:

Mehul Kothari further added: “On the downside; 17350 could be a crucial support for the coming weeks. A break of this support could take the index towards the 17000 – 16800 levels. On the upside; 17750 – 18000 could be a supply zone for the next few weeks We would only turn aggressive bullish on a close above the 18000 mark. the steps.

Nifty Bank Technical Outlook

“The Nifty Bank Index rallied back to the 39,000 mark and ended the week extremely flat. We maintain a cautious stance on the Nifty Bank Index and below 38,000 we could see a corrective move towards 37 000 to 36,000 in the coming weeks. The view would be canceled above 40,000 at the close and that would confirm another breakout of the index,” said Mehul Kothari.

Nifty Call Put Data Option

On the Nifty call options ratio, Shilpa Rout, Principal Derivatives Analyst at Prabhudas Lilladher, said: “The market continues to be sudeqaus for the second day in a row. The NIFTY options chain for expiry weekly reflects the aggressive addition of over 90,000 contracts all the way up to 18,000 CE, with PE writers making their way to 17,000 PE – with over 90,000 contracts in total, followed by 16,500 PE. Added higher contracts at 17500 PE, hinting at the immediate range between 17400 and 18000 going forward. Being close to 2, continues to support the index.”

Nifty Bank Call Put Option Data

“The Nifty Bank Future Option chain on PE writers being active at 38,000 PE – with over 60,000 contracts, and CE writers adding positions grouped from 39,500 to 40,000 strikes. So the data suggests a trading range between 38,000 and 40,300 in the future,” says Prabhudas Lilladher’s Shilpa Rout.

Foreign institutional investors (FII) net sold 8.79 crore shares, while domestic institutional investors (DII) net sold 668.74 crore shares on September 2, according to preliminary data available on the NSE.

NSE F&O Ban List

The National Stock Exchange (NSE) has added shares of Delta Corp to its F&O banned list for the September 5, 2022 trading date. Blacklisted stocks in the F&O segment include companies in which the stock has topped 95% of market-wide position. limit.

U.S. bond yield

The US 10-year bond yield was up 0.13% at 3.195 while the US 30-year bond yield was up 0.12% at 3.348.

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RM3mil stipend for ex-athletes foundation shows government cares, says PM https://www.roddaandsons.com/rm3mil-stipend-for-ex-athletes-foundation-shows-government-cares-says-pm/ Sat, 03 Sep 2022 07:23:00 +0000 https://www.roddaandsons.com/rm3mil-stipend-for-ex-athletes-foundation-shows-government-cares-says-pm/ KUALA LUMPUR: To ensure welfare of former national athletes, Putrajaya has allocated RM3mil to National Athletes Welfare Foundation (Yakeb), says Datuk Seri Ismail Sabri Yaakob (Photo). “This (RM3 million) is for the previous year and this year. God willing, there will be more (financial assistance) next year,” the prime minister said while officiating the Yakeb’s […]]]>

KUALA LUMPUR: To ensure welfare of former national athletes, Putrajaya has allocated RM3mil to National Athletes Welfare Foundation (Yakeb), says Datuk Seri Ismail Sabri Yaakob (Photo).

“This (RM3 million) is for the previous year and this year. God willing, there will be more (financial assistance) next year,” the prime minister said while officiating the Yakeb’s 7th Annual General Meeting at a hotel in Bukit Kiara, Kuala Lumpur. Saturday (September 3).

“I hope this stipend will benefit former athletes, such as courses on technology-based businesses to ensure their income is increased,” he added.

Ismail Sabri said the former government even offered to close Yakeb.

“It was only when we came back to the government that financial aid was given,” said Ismail Sabri.

Youth and Sports Minister Datuk Seri Ahmad Faizal Azumu was also present at the event.

Ismail Sabri said some groups try to manipulate former athletes to advance their own agenda.

He referred to the case of former national para-swimmer Koh Lee Peng, when news of her selling cloth blankets in Bukit Bintang went viral on social media in January this year.

According to Ismail Sabri, Yakeb had tried his best to help Koh, but his help was rejected and some groups manipulated the issue.

“I hope Yakeb will be more proactive after this and find them (who need help) faster,” he said.

He urged former athletes to register with Yakeb to ensure that financial aid could be channeled more easily.

Meanwhile, Ismail Sabri also said there are proposals to build a center of excellence for former athletes, dubbed Wisma Yakeb.

“As a former Minister of Youth and Sports, I know that there is a lot of land belonging to the ministry which has not been fully utilized.

“So, I hope the minister (Faizal Azumu) will look into this ground so that Yakeb can develop it,” said Ismail Sabri, to whom Faizal Azumu stood up and pledged to do so.

“Once the cost (of construction) is complete, please go to the federal government,” he said.

He also said he was confident that Yakeb would continue to play his part and ensure that all the needs of former athletes were taken care of.

Ismail Sabri was Minister of Youth and Sports in 2008 under former Prime Minister Tun Abdullah Ahmad Badawi.

He was later appointed Minister of Domestic Trade, Cooperatives and Consumer Affairs in 2009 after Datuk Seri Najib Razak took over as Prime Minister.

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Trade Setup For Tuesday: SGX Nifty, Other Things To Know Ahead Of The Trading Opening Bell Today https://www.roddaandsons.com/trade-setup-for-tuesday-sgx-nifty-other-things-to-know-ahead-of-the-trading-opening-bell-today/ Tue, 30 Aug 2022 00:45:25 +0000 https://www.roddaandsons.com/trade-setup-for-tuesday-sgx-nifty-other-things-to-know-ahead-of-the-trading-opening-bell-today/ Trade setup for Tuesday: Driven by weakness in global indices, the Indian stock market experienced a sharp correction on Monday and ended in negative territory. NSE Nifty lost 246 points and closed at 17,312, BSE Sensex fell 861 points and ended at 57,972 while the Nifty Bank index fell 710 points and ended at 38,276. […]]]>

Trade setup for Tuesday: Driven by weakness in global indices, the Indian stock market experienced a sharp correction on Monday and ended in negative territory. NSE Nifty lost 246 points and closed at 17,312, BSE Sensex fell 861 points and ended at 57,972 while the Nifty Bank index fell 710 points and ended at 38,276. Among the sectors, oil and gas and consumer staples ended up slightly while the information technology, banking, metals and real estate indices fell the most. The mid-cap and small-cap indices fell 0.57% and 0.8% respectively, although the advance-to-decline ratio was negative at 0.53:1.

Here we list the key things to know ahead of the opening bell of trading today:

Global market signals

On Wall Street, US stocks continue to trade lower on expectation of an interest rate hike from the US Fed after the Jackson Hole Symposium. The Dow Jones fell 0.57%, the Nasdaq corrected 1.02%, the S&P 500 fell 0.67% while the Small Cap 2000 lost 0.70% on Monday. The CBOE Volatility Index, Wall Street’s gauge of fear, hit a seven-week high on Monday morning – up 7.4 points to 27.46, on rising risk of more aggressive rate hikes from the Federal Reserve and the European Central Bank.

“Global equities fell, Treasury yields climbed and global currencies lost ground against the dollar on Monday as investors spooked following hawkish comments from some of the world’s most powerful central banks. Isabel Schnabel, a member of the board of the European Central Bank, warned over the weekend that central banks must now act forcefully to fight inflation, even if it drags their economies into recession. said Deepak Jasani, head of retail research at HDFC Securities.

Clever technical insights

“On the daily chart, the Nifty 50 index has formed a bullish candle. However, it continues to move in a lower high-low formation, indicating a negative bias. The index is moving in a Lower Top and Lower Bottom formation on the daily chart, indicating a negative bias The chart pattern suggests that if the Nifty index breaks through and holds above the 17,400 level, it would witness a buy, driving the index towards the 17,500 levels at 17,600. However, if the index breaks below the 17,200 level, it would witness a buying and selling, which would take the index towards 17,100-17,000,” said Rajesh Palviya, VP – Research technical and derivative at Axis Securities.

Rajesh Palviya from Axis Securities added that Nifty is trading below the 20-day SMA, indicating a negative bias in the short to medium term. Nifty continues to remain in a short-term uptrend, so buying on the dips continues to be our preferred strategy.

“The RSI Daily Strength Indicator has turned negative from overbought territory and is below its baseline, indicating profit booking,” Rajesh Palviya said.

Nifty Bank Technical Outlook

“On the daily chart, the Nifty Bank Index has formed a bullish candle. However, it continues to form a lower high-low, compared to the negative bias from the previous session. The index is moving in a lower upper and lower formation lower on the daily chart, indicating a negative bias.The chart pattern suggests that if Bank Nifty breaks through and holds above the 38400 level, it would witness buying, driving the index towards the 38600-38800 levels. if the index breaks below the 38200 level, it would see a sell off, which would take the index towards 38000-37800,” Rajesh Palviya said. He went on to add that Bank Nifty is trading below the 20-day SMAs, indicating a short-term negative bias. Bank Nifty remains in a short-term uptrend, so buying on the downside remains our preferred strategy.

Smart call data

According to data presented by nseindia.com as of 3:30 p.m. on August 29, major total open interest for calls was seen at 17,400, 17,500 and 17,700 strikes with total open interest of 77,293, 161,271 and 168,722 contracts respectively. Adding open interest on the major call was seen at 17,400 and 17,500 strikes, which added 72,308 and 124,835 contracts respectively. No major call outs were seen in strikes ranging from 17000 to 17600.

Smart Put Data

Total Put open interest was seen at 17300 and 17200 strikes with total open interest of 159478 and 145586 contracts respectively. The major addition of open put interests was seen at 17300 and 17200 strikes, which added 103781 and 73212 contracts respectively. The unfolding of the put was observed at 17500 and 17600 strikes which lost 34959 and 35820.

Bank Nifty Call Option Data

According to data presented by nseindia.com as of 3:30 p.m. on August 29, total open interest in major calls was seen at 38,400 and 38,500 strikes with total open interest of 47,864 and 102,777 contracts respectively. Adding open interest on the major call was seen at 38,400, 38,500, and 39,000 strikes, which added 46,619, 89,617, and 60,357 contracts respectively. No major call unwinding was seen in strikes ranging from 37900 to 38700.

Bank Nifty Put Option Data

Total put open interest was seen at 38200 and 38000 strikes with total open interest of 71949 and 140482 contracts respectively. The major addition of open put interests was seen at 38,200 and 38,000 strikes, which added 47,352 and 83,905 contracts respectively. No major unwinding of the put option was seen at the 38600 strike which lost 4749 contracts.

FII DII Data

Foreign institutional investors (IFIs) sold 561.22 crores of shares, as domestic institutional investors (DII) bought net 144.08 crore shares on August 29, according to preliminary data available on the NSE.

NSE F&O Ban List

The National Stock Exchange (NSE) has added void stocks to its F&O banned list for the August 30, 2022 trading date. Blackout stocks in the F&O segment include companies in which the stock has exceeded 95% of the market-wide position limit. .

U.S. bond yield

The US 10-year bond yield is down 0.67% at 3.089 while the US 30-year bond yield is down 0.53% at 3.230.

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US Energy Secretary urges refiners not to increase fuel exports https://www.roddaandsons.com/us-energy-secretary-urges-refiners-not-to-increase-fuel-exports/ Sat, 27 Aug 2022 18:02:00 +0000 https://www.roddaandsons.com/us-energy-secretary-urges-refiners-not-to-increase-fuel-exports/ WASHINGTON (Reuters) – The U.S. Energy Secretary this month urged domestic oil refiners not to further increase exports of fuels like gasoline and diesel, adding that the Biden administration may need to consider take action if factories do not stockpile. U.S. refiners boosted petroleum product exports this month as domestic crude oil production increased and […]]]>

WASHINGTON (Reuters) – The U.S. Energy Secretary this month urged domestic oil refiners not to further increase exports of fuels like gasoline and diesel, adding that the Biden administration may need to consider take action if factories do not stockpile.

U.S. refiners boosted petroleum product exports this month as domestic crude oil production increased and global fuel demand continued to recover.

Energy Secretary Jennifer Granholm, in a letter sent Aug. 18, urged seven refiners, including Valero, ExxonMobil and Chevron, to stockpile fuels as the United States enters peak hurricane season.

“Given the historic level of U.S. exports of refined products, I again urge you to focus in the near term on building inventory in the U.S., rather than selling current inventory and further increasing exports,” Granholm said in the letter sent to refiners, a copy of which was seen by Reuters.

High exports of U.S. petroleum products have been a concern for President Joe Biden’s administration this summer, as gasoline prices briefly hit a record high of $5 a gallon, helping to push inflation to highs. 40 year highs. Gasoline prices have since dropped to around $3.86 per gallon.

Federal meteorologists have predicted an above-average Atlantic hurricane season, which can be a perilous time for refineries. Persistently high gas prices remain a threat to Biden’s fellow Democrats ahead of the Nov. 8 midterm elections when they hope to retain control of both houses of Congress.

Granholm said the administration is talking with state officials along the East Coast, where gasoline levels are at their lowest in nearly a decade. It is putting gasoline and fuel oil reserves in the northeastern United States, which contain 2 million barrels of fuel, on “active standby” for potential release, and preparing for other emergency actions, a she declared.

The administration hopes businesses will “proactively respond to this need” to build inventory, she said. If that doesn’t happen, the administration “will have to consider additional federal requirements or other contingency measures,” Granholm added, without providing details.

In a high-profile meeting with the same refiners in June, Granholm backed out of a plan to ban US fuel exports, but the idea never quite left the table.

Refiners have said a ban could overwhelm domestic fuel markets and cause some factories to cut production, which could reduce supply and put upward pressure on prices.

In addition, refiners in the Northeast import crude oil and fuels, a trade that could be affected by an export ban.

“Export talks are at best a distraction; at worst, counterproductive for price and supply,” said a source familiar with Granholm’s talks with refiners.

(Reporting by Timothy Gardner; Editing by Bill Berkrot)

Copyright 2022 Thomson Reuters.

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India restricts wheat flour exports to curb rising domestic prices https://www.roddaandsons.com/india-restricts-wheat-flour-exports-to-curb-rising-domestic-prices/ Fri, 26 Aug 2022 03:24:04 +0000 https://www.roddaandsons.com/india-restricts-wheat-flour-exports-to-curb-rising-domestic-prices/ Prime Minister Narendra Modi, head of the Union cabinet, on Thursday (August 25th) approved a policy to restrict wheat flour exports to curb rising prices in the domestic market. Cabinet has approved a proposal to amend the policy to exempt wheat or meslin flour from export restrictions/bans. Meslin flour is a mixture of wheat and […]]]>

Prime Minister Narendra Modi, head of the Union cabinet, on Thursday (August 25th) approved a policy to restrict wheat flour exports to curb rising prices in the domestic market.

Cabinet has approved a proposal to amend the policy to exempt wheat or meslin flour from export restrictions/bans.

Meslin flour is a mixture of wheat and rye that is sown and harvested together. It is usually marketed together with wheat.

“This approval will allow the imposition of a restriction on the export of wheat flour, which will ensure a check on the rise in wheat flour prices and ensure food security for the most vulnerable sections of society,” he said. said the Department of Trade and Industry in a statement. statement.

The Ministry also informed that the General Directorate of Foreign Trade (DGFT) will issue a notification to this effect.

The export policy change comes months after India banned the export of wheat amid rising wheat prices in domestic markets due to the effects of the Russian-Ukrainian war.

According to the ministry, previously there was a policy of not banning or imposing export restrictions on wheat flour. Therefore, a partial policy change was needed by removing the exemption from export ban/restrictions for wheat flour to ensure food security and curb rising wheat prices. wheat flour in the country.

Russia and Ukraine are the main wheat exporters, accounting for about a quarter of world wheat trade. The conflict between them has led to disruptions in the global wheat supply chain, increasing the demand for Indian wheat.

As a result, the price of wheat on the domestic market increased. In order to ensure food security for the country’s 1.4 billion people, the decision was taken to ban the export of wheat in May 2022.

However, due to the wheat export ban, the demand for wheat flour has increased in overseas markets and its exports from India have witnessed a 200% growth from April to July 2022 compared to the corresponding period in 2021.

The increased demand for wheat flour in the international market has led to a significant increase in wheat flour prices in the domestic market.

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Gold down Rs 700, trading at Rs 51,230; silver drops by Rs 300 per kg https://www.roddaandsons.com/gold-down-rs-700-trading-at-rs-51230-silver-drops-by-rs-300-per-kg/ Wed, 24 Aug 2022 03:06:00 +0000 https://www.roddaandsons.com/gold-down-rs-700-trading-at-rs-51230-silver-drops-by-rs-300-per-kg/ The price of gold fell 700 rupees per 10 grams in early trading on Wednesday, with the yellow metal (24 carats) trading at 51,230 rupees. The price of silver, meanwhile, fell from Rs 300 to Rs 54,900 per kg. Ten grams of 22-karat gold traded at Rs 47,000 on Wednesday after […]]]>


The price of gold fell 700 rupees per 10 grams in early trading on Wednesday, with the yellow metal (24 carats) trading at 51,230 rupees. The price of silver, meanwhile, fell from Rs 300 to Rs 54,900 per kg.

Ten grams of 22-karat gold traded at Rs 47,000 on Wednesday after falling by Rs 600.

In Mumbai and Kolkata, 24 karat gold sells for Rs 51,230 for 10 grams, while 22 karat gold trades at Rs 47,000 in the respective cities. In Delhi, 24 karat and 22 karat gold are trading at Rs 51,4400 and Rs 47,150 for 10g, respectively.

In Chennai, 24k and 22k gold are trading at Rs 52,400 and Rs 48,000, respectively.

Gold held steady on Wednesday, with gains kept in check by a slight rise in the U.S. dollar, as market participants eagerly awaited a speech from Federal Reserve Chairman Jerome Powell later this week. Spot gold was little changed at $1,746.60 an ounce, 0126 GMT, after rising 0.7% in the previous session. US gold futures were down 0.2% at $1,758.20.

Gold is very sensitive to rising US interest rates, as these increase the opportunity cost of holding non-performing bullion. Gold demand in India improved last week as domestic prices fell to a more than two-week low, while volumes were bleak in other Asian hubs.

Meanwhile, one kg of silver was trading at Rs 54,900 in Delhi, Mumbai and Kolkata. In Chennai, Bengaluru, Hyderabad and Kerala, silver sells for Rs 60,700 per kg.

Spot silver gained 0.4% to $19.08 an ounce.


(With contributions from Reuters)

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