Market Update

Market Watch

Thursday, 3 December 2015

Today's Bullion Market News By CapitalHeight



  • Gold slumped to a near-six-year low on Thursday after comments from Federal Reserve chair Janet Yellen virtually cemented the case for a U.S. rate hike this month.
  • Spot gold fell 0.2 percent to $1,051.26 an ounce by 0307 GMT.
  • Inflation has not gone up since the imposition of Swachh Bharat cess in November, Rajya Sabha was informed.
    Shares of Wipro rose 1.6 percent in early trade on acquisition of Germany-based IT consulting & software company.
  • Abhay Laijawala, Deutsche Bank has set December 2016 Sensex target of 29,000 implying an upside of 11 percent.
  • The market has opened in red. The Nifty is down 30.20 points or 0.4 percent at 7901.15. The Sensex is down 100.16 points or 0.4 percent at 26017.69.
  • The Indian rupee declined in the early trade. It has opened lower by 8 paise at 66.67 per dollar versus 66.59 Wednesday.
  • Wipro, Axis Bank, Hero and Infosys are top gainers in the Sensex while ONGC, Hindalco, Bajaj Auto, Tata Steel and Tata Motors are losers.
  • crude prices were hovering just above $40 in early Asian trading on Thursday.
  • U.S. crude was trading at $40.23 per barrel at 0005 GMT on Thursday, up 29 cents from its last settlement, but down nearly 14 percent since the start of November.
  • Gold prices could see another trigger later on Thursday as the European Central Bank announces its policy decision.
  • Investors are rapidly pulling out of bullion funds, adding to the pressure on the metal. 

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Shares of ITC, Lupin, Tata Motors, ONGC, HUL, Cipla, Dr Reddy's Labs and Tata Steel were down 1-2 percent. The market extended losses for the second consecutive session today due to selling in FMCG, healthcare, metals and select banks stocks.  CapitalHeight would help you in incurring profits and hence minimizing the risk associated with Indian Commodity Market. For more info visit us at www.capitalheight.com/bullion-premium.php or call at +91 9993066624, 0731 - 6615050.

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