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INTERESTING READINGS FOR TODAY:

1. Hindustan Unilever board decides to separate the ice cream business

https://economictimes.indiatimes.com/industry/cons-products/fmcg/hindustan-unilever-board-decides-to-separate-ice-cream-business/articleshow/114506409.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

2. India's diesel consumption to rise 3%-4% this fiscal: Indian Oil chairman

https://economictimes.indiatimes.com/industry/energy/oil-gas/indias-diesel-consumption-to-rise-3-4-this-fiscal-indian-oil-chairman/articleshow/114496902.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


3. NMDC has increased iron ore prices by over 18 pc since August

https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/nmdc-increases-iron-ore-prices-by-over-18-pc-since-august/articleshow/114493206.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


4. Microfinance institutions should refrain from reckless lending: DFS Secretary

https://economictimes.indiatimes.com/industry/banking/finance/microfinance-institutions-should-refrain-from-reckless-lending-dfs-secretary/articleshow/114501127.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


5. Indian entertainment industry lost Rs 22,400 Cr to piracy in 2023: EY-IAMAI Report

https://economictimes.indiatimes.com/industry/media/entertainment/indian-entertainment-industry-lost-rs-22400-cr-to-piracy-in-2023-ey-iamai-report/articleshow/114503950.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

COMMODITY: STOPLOSS HIT AT 193, BUY NATURAL GAS MINI OCT FUT @ 196 SL 193 TGT 204 Disclaimer: https://bit.ly/49hBt1e

Gold

Yellow Metal prices have pulled back from record highs due to profit-taking and reassessment of the Federal Reserve's interest rate cut expectations. Recent U.S. economic data suggests continued growth, leading markets to price in smaller rate cuts, impacting gold’s appeal. The 10-year U.S. Treasury yield hitting three-month highs also added pressure. However, with ongoing geopolitical tensions and U.S. election uncertainties supporting demand for safe-haven assets, a "buy on dip" strategy could be effective as gold remains a crucial hedge in this volatile environment.

Outlook: Buying on Dip

Crude Oil

Oil prices experienced volatility today, driven by a larger-than-expected rise in U.S. crude inventories, despite increased refining activity. While the inventory build typically pressures prices downward, the ongoing Middle East conflict has kept concerns about potential supply disruptions alive, preventing a sharp drop. Traders are navigating these opposing forces, leading to range-bound movements in oil prices. The market remains cautious, balancing between the increased U.S. crude supply and the geopolitical risks that could impact future availability. This tension is likely to keep prices fluctuating in the near term.

Outlook: Range Bound

U.S. Crude Oil Inventories surged by 5.5M, far exceeding the 0.9M forecast and reversing the previous week's -2.2M decline

Gold
Comex($/oz):  2731.50
MCX  (Rs/10gms):  77859( - 797 pts)  
Silver
Comex($/oz): 33.820
MCX (Rs/kg): 96908(- 3064 pts)    
Dow Future: - 252 pts

U.S. ECONOMIC DATA
Crude Oil Inventories

Actual 5.5M
Forecast 0.9M
Previous -2.2M

U.S. ECONOMIC DATA
Existing Home Sales

Actual 3.84M
Forecast 3.88M
Previous 3.88M

COMMODITY: BOOK PROFIT AT 6020, BUY CRUDEOIL MINI NOV FUT @ 5960 SL 5900 TGT 6070 Disclaimer: https://bit.ly/49hBt1e

COMMODITY: BUY NATURAL GAS MINI OCT FUT @ 196 SL 193 TGT 204 Disclaimer: https://bit.ly/49hBt1e

The domestic equity benchmarks ended with minor cuts on Wednesday, declining for the third day in a row. The Nifty settled below the 24,450 mark. Expensive valuations, muted earnings reported by major companies for the September-ending quarter so far, ongoing selling pressure from foreign portfolio investors (FPIs), rising tensions in the Middle East, and uncertainty surrounding the upcoming U.S. elections are some of the key factors currently weighing on the market. Pharma, auto and oil & gas stocks declined while IT, PSU bank and media shares advanced. The S&P BSE Mid-Cap index added 0.48% and the S&P BSE Small-Cap index gained 0.93%. Now, on the downside 24,300 holds the significant support level for Nifty (spot) and on the upside 24,600 holds the resistance level.

COMMODITY: BOOK PROFIT AT 196, BUY NATURAL GAS MINI OCT FUT @ 191 SL 187 TGT 201 Disclaimer: https://bit.ly/49hBt1e

COMMODITY: BUY CRUDEOIL MINI NOV FUT @ 5960 SL 5900 TGT 6070 Disclaimer: https://bit.ly/49hBt1e

COMMODITY: TRAIL SL AT 192.5, BUY NATURAL GAS MINI OCT FUT @ 191 SL 187 TGT 201 Disclaimer: https://bit.ly/49hBt1e

COMMODITY: BUY NATURAL GAS MINI OCT FUT @ 191 SL 187 TGT 201 Disclaimer: https://bit.ly/49hBt1e