Asia stocks, dollar subdued on last trading day of 2016....!

 MSCI's broadest index of Asia-Pacific shares outside Japan was little changed early on Friday. Asia stocks, dollar subdued on last trading day of 2016 Asian stocks and the dollar were off to a subdued start on Friday as investors took profits on the last trading day of 2016, while the euro briefly spiked in thin trade. The euro jumped as much as 2 percent early on Friday, its biggest intraday gain since November 8, before settling back down to trade 0.6 percent higher at USD 1.0559. 

"It's a really thin market today, and suddenly, offers disappeared and short-term players pushed the euro higher and took out stops. That's all," said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo. The common currency is still down 2.8 percent for the year. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed early on Friday. In a year marked by major political surprises, including Brexit and the unexpected election of political novice Donald Trump to US President in November, Asia ex-Japan stocks are poised to post a 3.3 percent gain. Despite the modest figure -- the Dow Jones Industrial Average, in contrast, is up a whopping 14 percent -- that is the Asian index's best performance in four years and follows two years of losses. Japan's Nikkei retreated 0.7 percent on a stronger yen, on track for a 0.1 percent loss in 2016. That is its worst in five years, with the yen's 22 percent surge in the first half of the year slamming the index. 

 The Japanese currency has since dropped 15 percent, most of that reflecting exuberance over Trump's anticipated stimulatory policies, but looks set to end the year over 3 percent higher. The greenback, which has soared almost 11 percent against the yen since before the election results were announced, is set to end the year down a little over 3 percent. It was last down 0.2 percent at 116.41 yen, extending a 0.5 percent slump seen overnight. The dollar index , which tracks the greenback against a basket of six major global peers, dropped 0.5 percent to 102.17 on Friday, following a 0.6 percent slide on Thursday. It is poised to end 2016 3.5 percent higher. The Chinese yuan is on track to end the year weaker. 

The dollar has strengthened 7.1 percent versus the Chinese currency.US bond yields, which have reversed course to increase over the past two weeks as investors have sheltered in safer assets, continued that trend. They were at 2.4714 percent early on Friday, a little above a two-week low touched overnight. Gold held near a two-week high, basking in its safe haven status amid the broad pull back in risk amid reduced liquidity. Spot gold edged up 0.3 percent to USD 1,162.14 an ounce, adding to its 1.5 percent surge on Thursday. It's set to end the year up 9.6 percent. Oil prices inched up after sliding on Thursday in its first day of losses this week, after a surprising rise in US inventories. US crude added 0.3 percent to USD 53.95 a barrel on Friday, after falling 0.5 percent on Thursday. It is on track for a whopping 47 percent surge this year, recovering most of its 2015 losses

Nifty reclaims 8150, Sensex climbs over 150 pts; ITC, ICICI gain.....!

The market manages to climb as the Sensex is up 171.12 points or 0.6 percent at 26537.27. The Nifty is up 52.20 points or 0.6 percent at 8155.80. About 1202 shares have advanced, 271 shares declined, and 53 shares are unchanged. FII: Ridham Desai of Morgan Stanley said, "Key drivers for the market mood in Q1FY17 remain incoming growth data, global cues especially on US tightening, President-elect Trump's fiscal plans, commodity prices and the forthcoming Budget on February 1." "We expect the U-shaped earnings recovery to be delayed by a quarter or two.
 We estimate an earnings growth of 2 percent Y-o-Y for FY17 and 18 percent for FY18." "Improving external environment augers well for earnings, although headwinds from higher oil prices and some demand impact due to the recent currency ban could weigh on earnings in the near team," he added.  The market manages to climb as the Sensex is up 171.12 points or 0.6 percent at 26537.27. The Nifty is up 52.20 points or 0.6 percent at 8155.80. About 1202 shares have advanced, 271 shares declined, and 53 shares are unchanged. ICICI Bank, ITC, Asian Paints, Maruti and Sun Pharma are top gainers while Bharti Airtel, Coal India and Bajaj Auto are losers in the Sensex, Don't miss: Asset quality of banks deteriorated: FSR report The market has kick-started January Futures and Options (F&O) series on a flat note. The Sensex is up 54.61 points or 0.2 percent at 26420.76 and the Nifty is up 16.05 points or 0.2 percent at 8119.65. About 215 shares have advanced, 50 shares declined, and 19 shares are unchanged. Investors will be keenly watching for any government announcement as Prime Minister Narendra Modi's 50-day demonetisation deadline draws to a close today. Cipla, ONGC, Maruti, Axis Bank and Asian Paints are top gainers while HDFC, Wipro, Bharti Airtel, Infosys and Reliance are losers in the Sensex. The Indian rupee gained in the early trade. It has opened higher by 15 paise at 67.95 per dollar versus 68.10 Thursday. Bhaskar Panda of HDFC Bank said, "Festive fervour is the theme right now across the world. The dollar index has given up some of the recent gains and is trading below 103. EM currencies are still under cloud." "USD-INR is expected to trade within 67.80-68.10/dollar range," he added. The US dollar slipped against the yen and the euro as traders use the quiet holiday period to take profits on the dollar's recent gains, while a drop in US treasury yields on waning risk appetite reduced the greenback's appeal. Globally, Asian stocks and the dollar were off to a subdued start as investors took profits on the last trading day of 2016, while the euro briefly spiked in thin trade.

 The euro jumped as much as 2 percent early on Friday, its biggest intraday gain since November 8, before settling back down to trade 0.6 percent higher at USD 1.0559. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed early on Friday. In a year marked by major political surprises, including Brexit and the unexpected election of political novice Donald Trump to US President in November, Asia ex-Japan stocks are poised to post a 3.3 percent gain. Wall Street ended slightly lower on Thursday, held down by bank shares in quiet holiday trading as traders looked to position for the new year. US equities have stalled in recent days after rallying in the wake of Donald Trump's November 8 election as US president. Investors are betting on benefits from Trump's plans to cut taxes and regulations and introduce fresh economic stimulus

Nifty hovers around 8050; TCS, Infosys

 Axis early gainers The market seems to be cautious ahead of Futures and Options (F&O) expiry today. The Sensex is up 14.17 points at 26224.85 and the Nifty is up 9 points at 8043.85. About 1087 shares have advanced, 561 shares declined, and 90 shares are unchanged. The market seems to be cautious ahead of Futures and Options (F&O) expiry today. The Sensex is up 14.17 points  at 26224.85

 The Nifty is up 9 points at 8043.85. About 1087 shares have advanced, 561 shares declined, and 90 shares are unchanged. TCS, Axis Bank, Infosys, ONGC and NTPC are top gainers while Adani Ports, ITC, Hero MotoCorp, Bajaj Auto and Tata Motors are losers in the Sensex. US oil prices fell following a surprise build in the country's crude stocks shown in data published by the American Petroleum Institute (API). Gold prices rose as the US dollar slipped against a basket of currencies, but gains were limited on expectations of more rate hikes by the U.S. Federal Reserve next year. The dollar sagged against the yen, weighed down by U.S. yields slipping to two-week lows and an ebb in risk appetite that favored the safe-haven Japanese currency.

Nifty hits 8050, Sensex opens firm;

 Infosys, Maruti gainers Maruti, Wipro, Infosys, Maruti and Dr Reddy's are gainers while ONGC, Hero MotoCorp, Asian Paints, Bharti and L&T are losers in the Sensex. FII view: Sanjay Mookim of BofAML said, "Demonetisation and GST mean that earnings for the next 3-4 quarters at least will be volatile. Downgrades are likely to continue but valuations are less of a hurdle." "We expect the government to act soon with both a monetary and fiscal stimulus. As well, difficulties on lack of cash should end in a few weeks." "In 2017, Indian equity can match/beat bonds. Our December 2017 Sensex target is 29,000. Within sectors, banks should dominate earnings growth, we stay with the well capitalised ones. 

Expect the government stimulus to help companies dealing with rural staples, cement, 2 wheeler and tractors," he added. Don't miss: Buy, sell, hold: 5 stocks that you can buy for smart gains After a super rally, the market has opened ranged on Wednesday. The Sensex is up 76.01 points or 0.3 percent at 26289.45, and the Nifty up 23.05 points or 0.3 percent at 8055.90. About 643 shares have advanced, 178 shares declined, and 43 shares are unchanged. Maruti, Wipro, Infosys, Maruti and Dr Reddy's are gainers while ONGC, Hero MotoCorp, Asian Paints, Bharti and L&T are losers in the Sensex. The Indian rupee opened marginally lower at 68.10 per dollar versus previous close 68.07. Pramit Brahmbhatt of Veracity said, "Rupee will continue to trade negative with low volatility due to an appreciating dollar. Trading range for the spot USD/INR pair would be 68-68.20/dollar." The US dollar gained against the yen on stronger-than-expected US housing data and expectations for a hawkish Federal Reserve, but remained below a recent 10-month high in thin holiday trading. 

The cabinet is set to take up an ordinance on demonetised currency today. According to government sources an ordinance is necessary to give note ban legal sanctity as timeline on old note deposits could be tweaked. Prime Minister Narendra Modi yesterday met the top economists in the country to discuss future reforms. The meeting which was organised by Niti Ayog was attended by the government's own economic brain trust, as well as some other tprominent economiss. Some of the key issues on the agenda were simplifying tax structure, cutting dirediscussed in the meeting. Globally, Asia stocks followed Wall Street higher early, while the dollar firmed against major peers such as the yen following the release of upbeat US economic data overnight. Crude oil prices held large gains on expectations of supply tightening once oil-producing nations implement a scheduled output companyct tax rates and harmonising customs duty. Strategic divestment of loss-making PSUs was also 

Gold edges higher in thin trade after holiday weekend...!

Gold prices rose slightly on Tuesday but trading was thin as investors looked for directions after the long Christmas weekend, even as a firm dollar capped gains. Gold edges higher in thin trade after holiday weekend Gold prices rose slightly on Tuesday but trading was thin as investors looked for directions after the long Christmas weekend, even as a firm dollar capped gains. The dollar rose against the yen and euro as some investors emerged out of the holiday lull to hunt for bargains as the market entered the last trading stretch of the year. [USD/] Spot gold was up 0.3 percent at USD1,136.80 an ounce by 0310 GMT, after earlier edging down to USD1,131.35. U.S. gold futures rose 0.4 percent to USD1,138.20 per ounce. "People are waiting until Trump becomes the US President and until we see his real policies or what he will do when he takes the office," said Yuichi  Ikemizu, head of commodity trading at Standard Bank in Tokyo. "People are just watching the other markets like dollar and stock markets and kind of expecting the stock market and financial market to be good under Trump government. In that case, people don't need gold and instead invest in stocks."

 The U.S. currency had climbed to a 10-month high of 118.660 yen mid-month on expectations of stronger growth after U.S President-elect Donald Trump takes office in January. A firm dollar curbs demand for commodities priced in the greenback by making them more expensive for holders of other currencies. Asian stocks were mixed on Tuesday, in thin trade and with little to guide them as most major markets were closed on Monday for Christmas holidays. [MKTS/GLOB] Hedge funds and money managers cut their net long position in COMEX gold for a sixth straight week in the week to Dec. 20, Commodity Futures Trading Commission data showed. [nL1N1EI1B2] Gold demand in India remained subdued last week despite a sharp fall in prices to over 10-1/2 month lows as a severe cash crunch and holidays kept buyers away from the market, while premiums in China fell from near 3-year highs touched in the prior week. [GOL/AS] Among other precious metals, silver was up half a percent at USD15.80 an ounce. Platinum gained over 1 percent to USD898, while pallaiudm rose 1.1 percent to USD663.22 an ounce - its biggest daily rise in nearly a month.

Nifty eyes 7950.....!

Sensex steady; Bharti, Hero, Maruti laggards  Cipla, Sun Pharma, Adani Ports, Lupin and TCS are top gainers whule Bharti Airtel, Hero, GAIL, Maruti and Bajaj Auto are losers in the Sensex. Seshagiri Rao, Joint MD & Group CFO at JSW Steel said that the company will see an impact due to higher coking coal prices in the coming quarter. Coking coal prices have more than doubled from August 2016. Domestic steel costs are at an 18 percent discount as compared to international prices. He expects domestic steel prices to go up in the first quarter of calendar year 2017. Expect further pressure on EBITDA per tonne from the Rs 7,000/ tonne level in the second quarter of FY16, he India currently is been singled out by investors because of the outflows seen in recent time, believes Rajat Rajgarhia, MD – Institutional Equities at Motilal Oswal Securities. There is an imminent fear in the market on the back of a slowdown in corporate earnings and economic growth. Market could revisit the 7700 levels, he said. However, Rajgarhia believes that demonetisation will bring informal industries into the formal system and financial system, too, is expected to become stronger. Market with a cash component will suffer. Some companies - like HDFC, Infosys and L&T – always come through issues, he said adding that they could be used to hide in the current situation.  


That SEBI has begun interim investigations into the beleaguered Tree House . The market regulator will be probing into alleged questionable accounting practice of the playgroup chain in the last two-three days. It will also be seeking audit and accounting statements pertaining to the last 3-4 years of the company. Sources further add that if required, SEBI officials will ask for statements for the last 5-6 years. Zee Learn had recently informed the exchanges that they have called off their proposed merger with Tree House Education after news broke about Tree House shutting 113 branches due to fund crunch. In August, Tree House and Zee Learn revised the terms of their merger. Both companies were in talks for a deal as early as December 2015. Don't miss: Buy, sell, hold: 4 stocks that analysts are watching out The market is still in green on support from few index heavyweights. 
The Sensex is up 59.45 points or 0.2 percent at 25866.55, and the Nifty up 15.90 points or 0.2 percent at 7924.15. About 830 shares have advanced, 870 shares declined, and 100 shares are unchanged. Cipla, Sun Pharma, Adani Ports, Lupin and TCS are top gainers whule Bharti Airtel, Hero, GAIL, Maruti and Bajaj Auto are losers in the Sensex. US oil prices extended gains on Tuesday in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices. Oil has been supported in the past several weeks as the Organization of Petroleum Exporting Countries and non-OPEC members have agreed to lower output by almost 1.8 million barrels per day (bpd) from Jan. 1. Libya's oil production rose slightly to 622,000 barrels a day (bpd) on Monday, as an armed faction agreed to lift a two-year blockade on major western pipelines, the National Oil Corporation said. It said it could add 270,000 bpd within three months.

Libya's oil comeback continues ........!

Libya's oil production comeback continues. The revival of the Libyan oil sector began earlier this year, after a disastrous four years of civil war and terrorist attacks following the fall of dictator Muammar Gaddafi. Analysts indicate General Khalifa Haftar's emergence as a power in Libya has seen the petrostate remake its role in international oil politics by grabbing an exemption to the production freeze orchestrated by OPEC last month. The latest forecasts place national production at 900,000 barrels per day in Libya during the next couple of months. That's a more than 30% increase on the 600,000-barrel rate the country is currently pumping. Haftar's Libyan National Army (LNA) has been fighting off small-scale revolts. The U.N.-backed Government of National Accord (GNA) governs the western half of Libya, from Tripoli. Under the influence of the new administration, the faction of the Petroleum Facilities Guard (PFG) that oversees major pipelines fed by the Al-Feel field has lift a two-year blockade on the transmission of oil. This could add more than 400,000 barrels per day to Libya's oil production, and according to Khalid Shakshak, the head of the Libyan Oil Audit Bureau. Reopening that particular pipeline would resolve 70% of Libya's economic problems, he said in an interview with the trade press

 Nifty back above 7900 amid pressure ; Bank sheds 1% Maruti Soars.....!

Equity benchmarks continued to reel under selling pressure on fears of hike in long term capital gains tax after PM comments. Banking & financial stocks hit hardest with Nifty Bank falling over a percent.  Bureau 10:55 am USFDA nod: Pharma Major Lupin has received tentative approval for its Olmesartan Medoximil tablets, 5 mg, 20 mg and 40 mg from the United States Food and Drug Administration (FDA) to market a generic version of Daiichi Sankyo Inc’s Benicar tablets. This drug is indicated for the treatment of hypertension, along or with other antihypertensive agents to lower blood pressure. Benicar tablets had US sales of USD 1.06 billion, as per IMS MAT September 2016.
With the overall environment not looking good, only the upcoming Budget can bring some cheer to the market, believes UR Bhat, director of Dalton Capital Advisors. The Nifty today broke its Brexit day low of 7950. Demonetisation is expected to have an extended impact on the market and December quarter earnings will be low. Also, the US President-elect Donald Trump will take charge on January 20, which is adding to market’s worry. Bhat said that market has to find a new low from here. Some positive commentary from the government is needed to bring cheer to market. 10:20 am Buzzing: Shares of Welspun Enterprises advanced 6.5 percent intraday as it is going to divest its stake in Welspun Energy.
 The company has, subject to the approval of the members of the company, approved sale of its entire investment of 6,04,93,342 equity shares (15.49 percent) in the paid up equity share capital of Welspun Energy. "As against its investment of Rs 91.1 crore, the stake is proposed to be sold to Welshop Trading, for a consideration of approximately Rs 290 crore plus contingent consideration, thereby implying more than 3x returns to the company on its investment," as per company release. In addition to buying out Welspun Enterprises' stake, Welshop Trading, part of Welspun Group, has agreed to buy out the stake of other shareholders in Welspun Energy at equivalent consideration. 

 Not fair to say mkt isn't paying taxes; STT is painless: Damani 10:00 am Market Check Equity benchmarks continued to reel under selling pressure on fears of hike in long term capital gains tax after PM comments. Banking & financial stocks hit hardest with Nifty Bank falling over a percent. The 30-share BSE Sensex was down 208.20 points at 25832.50 and the 50-share NSE Nifty fell 66.90 points to 7918.85. The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices shedding over 1.3 percent on weak breadth. About five  shares declined for every share rising on the BSE. ICICI Bank, HDFC,  HDFC Bank, Tata Motors, Axis Bank and SBI were down 1-2 percent while Maruti Suzuki, Asian Paints and Dr Reddy's Labs outperformed, rising 0.5-1 percent.

Digital economy-Driving India's growth momentum

We need 1.2 billion people going digital to ensure greater economic prosperity 

Lunchtime in Mumbai is a sacred affair. In a city whereas time is money, there is highly efficient distribution system to deliver lunches to office-gores known as the Dabbawalas. An institution on its own, fabled for their legendary accuracy, they have partnered up with one the country's largest E-commerce retailer Flipkart to deliver packages as well.

Home to 4,000 setups, the country lags behind only the US and UK .The previous year alone has attracted $44 billion in foreign directed towards the services sector possible only with US and UK.  The previous year alone has attracted $44 billion in foreign direct investment of which a mojor chunk was directed towards the services sectors possible only with an educated populace and the Internet .The report by the department of electronics and IT estimated that the lot industry though nascent in India is expected to grow to Rs 940 billion by 2020 with widespread applications from agriculture, healthcare, manufacturing to power and even space and stock.       

 CRUDE SETTLES AT $ 53;05 ON FRIDAY....! 

Crude oil settled at $53.05 during light trading on Friday, up slightly. The price of Brent oil was down by 8 cents at around 1 p.m. Central, but settled at $55.15, up slightly. The market was not very active today, as the Christmas holiday weekend sent many home early from work. Traders continue to worry that OPEC will not be able to keep producers in line and force a production cut next year. The Kurdistan Regional Government (KRG) in war-torn Iraq appears poised to ignore the OPEC agreement last month to slash oil production and is planning to increase output in the coming weeks, according to industry sources.

 Since the U.S. pullout of most troops from Iraq, Baghdad has no control over the regional Kurdistan government. The government is not sovereign, and is not recognized by the international community as such, and so it was not given a seat at the Nov. 30 meeting of the Organization of Oil Exporting Countries in Vienna, and so could not make its objections known widely at the time of the production cutting accord. Keeping oil production high, or even increasing it, is high on the agenda of Kurdish leaders in Iraq. Reducing output would force the cash-strapped regional authority to further delay paying its Peshmerga soldiers, who have been ISIS' most formidable regional foes on the battlefield. Per the OPEC deal, Iraq agreed to reduce crude output by 210,000 barrels a day from October levels. But Kurdistan controls about 600,000 barrels a day of oil production, nearly 12% of Iraq's oil output. Due to the schism between the KRG and Baghdad, Iraq's central government has absolutely no power to order the KRG to reduce production.

Oil prices edge upon expected U.S Crude inventory draw...!

Oil prices nudged higher on expectation of a U.S Crude inventory draw, although trading activity was muted as markets start to wind down ahead of the chirstmas weekend. U.S West texas Intermediate (WTI) Crude Oil futures were trading at $ 53.56 per Barrel at 0634 GMT, up 26 cents from their last settlement. International Brent Crude Oil futures were at $55.57 22 cents.

Traders said the higher prices were largely due to an expected reduction in US Crude Oil inventories, which will be reported late on.

In the absence of strong fundamentals, traders said that technical supports and resistance levels would become price drivers.In the absence of strong fundamentals, traders said that technical support and resistance level would become price driver."US oil may rise to $54.37 per barrel as it has broken resistance at $53.36," said Reuters technical Commodities analyst Wang Tao".    

"Brent oil is poised to break a resistance at $55.79 per barrel,".The relatively low price expectations for 2017 come as Oil markets are expected to remain well supplied the planned output cuts. 

Gold on back foot as dollar stays near 14-year high...!

(Reuters)- Gold extended its losses after dipping in the previous session, dragged down as the US Dollar stayed near 14- years highs against a basket of currencies.

*Spot gold <XAU=> was down 0.1 percent at USDI, 31.01 an ounce by 0053 GMT. It fell 0.6 percent the day before.

*US gold futures were also 0.1 percent lower, at USDI, 133 per ounce.

*  The U.S dollar was encamped near 14-year peaks as global yield spreads moved in exorably in its favour while a falling yen lifted Japanese shares to a one-year top.

*The dollar index, which measures the greenback against a basket of currencies, stood at 103.65 on its highest.

*India's gold imports from Switzerland hit their highest in a year last month, data from the Swiss customs bureau, making it the biggest destination for bullion exports from the trading and refining hub.

* Great Panther Silver LTD has entered into agreement with units Gold-Silver-Lead-Zinc-Copper- mine and mill. complex in Peru.

*New standards for the use of Precious metals in Islamic finance are encouraging the development  of financial products based on Gold and Silver, from futures contracts to mobile app.

  

         

Gold falls to over 10 mnth low as Fed signals more hikes in 2017....!

Spot gold edged 0.4 percent to USD 1,139.54 an ounce by  0108 GMT. The Bullion touched a new low of 1,134.71 an ounce, its lowest since Feb 3. The Yellow metal fell over one percent in the prior session.

Gold prices fell on to a new low in more than 10 moths as the dollars surged after the US central bank raised interest rates for the first time in a year and signalled further rate hikes for 2017...

FUNDAMENTALS........!

Spot gold edged0.4 percent lower to USD1,139.54 an ounce by 0108 GMT. The bullion touched a new low of 1,134.71 on ounce, its lowest since Feb 3. The Yellow Metal fell over one percent in the prior session.

* USD gold future fell nearly 2 percent to USD 1,141.80 per OUNCE.The price fell USD1,136.4 an ounce earlier in the session to lowest since Feb1 and registered their biggest percentage fall in one month.

* The dollar index, which the greenback aganist a basket of currencies was up 0.7 percent at 102.490. The dollar howered near a 14-year peak against a basket of major currencies on Thursday [USD]

*Holdings of the SPDR Gold trust, the World's largest Gold-basket exchange-traded fund, fell 0.80 percent to 849.44 tonnes on Wednesday.[GOL/ETF]

* Human rights group on Wednesday Welcomed a decision by Thailand to close the country's only active gold mine by end of the year as the mine's operator said it had laid off the employees.   

 * The amount of Gold dug up by people working informally in Mali could soon rival official production thanks to demand from domestic refineries, officials in the West African nation say.

* Turquoise Hill Resources Ltd said on Wednesday it had resumed concentrate shipments from its giant Copper-Gold Oyu Tolgoi mine in Mongolia following talks with Chinese and Mongolian authorities.

Govt body not in favour of safeguards on unwrought Aluminium ....!

The directorate General of Safeguards, which comes under the finance ministry, said import had come down while production and sale of unwrought Aluminium that is extracted from primary metal or scrap, had gone up.

An Indian govt body has decided against imposing safeguards on some Aluminium products citing lack of evidence over imports hurting profitability of domestic industry.The directorate General of safeguards,which come under the finance ministry, said imports had come down while production and sale of unwrought Aluminium that is production extracted from primary metal or scrap, had gone up'...

"There exists an injury to DI (Domestic Industry) but there exists no serious injury or threat of serious injury to domestic industry in the POIC( Period of investigation) and hence no protection under the safeguard law is required,"the direcortate said in a notification dated Dec 13.In APRIL, the government began probe into imports of unwrought Aluminium after complaints from local companies including Vedanta Ltd and Hindalco Industries Ltd.

   

    

SEBI's plan to protect investors from fraudulent stock tips could actually end up hurting them...!

The regulator's proposal to ban market discussions on social media and whatsapp is overly restrictive and on attack on free speech. The Securities and Exchange Board of India has Outlined a proposal that at first glance services to protect Indians from fraudulent investment advice. In the age of pyramid schemes, attempting to address that problems is a good idea.

But the way SEBI proposes to go about this in the consultation paper is heavy handed cracking down not an fraudulent advisory services but instead on fraudulent advisory services but instead on discussions of stocks and stocks tips on social media, email, and on SMS / Whatsapp.

This move would deeply restrict any free-speech and discussion around stock market.Have a conversation with a friend about a rising stock on Facebook? Discussion is critical key to healthy markets people should be able to freely debate among themeselves wheather something is worthwhile to buy or not SEBI. , in attempting in regulate this is restrict an individual from recommending a bank service or app or any other product they use as a customer one option here is a narrower regulation

 advice and commentary by registered advisory firm in stock that they have holdings in that may be more effective than the current broad holdings in that proposla that cracks down anyone commmenting on. Some markets like the European union have addressed the advisory issue by focusing on disclose holding in this stocks....!  

World Bank grants $5.19mn for Energy financing to MsEs.....!

Grant will be provided through World Bank's International Bank for Recontruction and Development (IBRD) arm. World Bank provide an additional USD 5.19 million grant to MSME industries in the country to help them adopt efficient energy means.An agreement for Global Environment Facility (GEF) Grant of USD5.19 Million for 'Additional Financing for Financing Energy Efficieny at MsMes Project programatic Framework for Energy Efficiency was signed here today, said an official release.

IBRD, acting as an implementing agency of the Global Environment facility, provide's loan and other assistence primarly to middle income contries.

   "The Development Objective of the project was to increase demand for Energy efficiency investments in select micro, small and medium enterprise clusters and to build their capacity to access commercial finance," said the release. The proposed Additional Financing (AF) would be used to help further scale up the initiatives taken up under the parent project, Finance Ministry said. It will also contribute to bridge the current gap in understanding between different stakeholders, mainly Energy professionals/technology suppliers, entrepreneurs, banks and financial institutions..                       

Read more at: http://www.moneycontrol.com/news/economy/world-bank-grants-36519-mn-for-energy-financing-to-msmes_8109141.html?utm_source=ref_article

Analysts see limited impact on banks earnings after RBI move..!

After banning legal tender status of Rs 500 and Rs 1,000 notes since November 8, there has been a huge surge in banks deposits.To reduce that surplus liquidty available with the banking system the Reserve Bank of India, on last Saturday, announced temporary measures by applying an incremental cash Reserve ratio Bank Nifty fell 1.7 percent intraday, to 18187.40, the lowest level since July8 State Bank of India, ICICI Bank, Bank of Baroda and PNB fell 2-5 percent in early trade managed to recover half of losses later on Axis Bank and HDFC Bank turned positive.Hence, banks especially PSU Banks that have rallied in the past two weeks will see some near term correction it feels.      

The central bank expects magnitude of surplus liquidity available with the banking system is expected to increase further in the fortnights ahead. Banks so far garnered more than Rs 6 lakh crore in deposits after demonetisation. The last date to deposit old notes is December 30, 2016. "The CRR remains unchanged at 4 percent of outstanding net demand and time liabilities (NDTL). On the increase in NDTL between September 16 and November 11, scheduled banks shall maintain an incremental CRR of 100 percent, effective the fortnight beginning November 26, 2016," the Reserve Bank of India said in its press release. It further says this is intended to absorb a part of the surplus liquidity arising from the return of specified bank notes to the banking system, while leaving adequate liquidity with banks to meet the credit needs of the productive sectors of the economy. It will review this measure on December 9, the day of next policy meet. Brokerage houses expect this surprise move by RBI to suck out more than Rs 3 lakh crore liquidity from the banking system. They see limited impact on banks’ earnings.

It believes banks will need to revist their deposit rates aggresively, or raise lending rates to offset the impact which looks less probable given sluggishness in Credit demand....  

The central bank expects magnitude of surplus liquidity available with the banking system is expected to increase further in the fortnights ahead. Banks so far garnered more than Rs 6 lakh crore in deposits after demonetisation. The last date to deposit old notes is December 30, 2016. "The CRR remains unchanged at 4 percent of outstanding net demand and time liabilities (NDTL). On the increase in NDTL between September 16 and November 11, scheduled banks shall maintain an incremental CRR of 100 percent, effective the fortnight beginning November 26, 2016," the Reserve Bank of India said in its press release. It further says this is intended to absorb a part of the surplus liquidity arising from the return of specified bank notes to the banking system, while leaving adequate liquidity with banks to meet the credit needs of the productive sectors of the economy. It will review this measure on December 9, the day of next policy meet. Brokerage houses expect this surprise move by RBI to suck out more than Rs 3 lakh crore liquidity from the banking system. They see limited impact on banks’ earnings.

Read more at: http://www.moneycontrol.com/news/business/analysts-see-limited-impactbanks-earnings-after-rbi-move_8027181.html?utm_source=ref_article

Investors lock profit in Gold ETF, take out Rs 588cr in Apr-Nov........!

Gold exchange traded funds (ETFs) saw an outflow of Rs 69 crore in November, taking the total to Rs 588 crore in the first eight months of the current fiscal, mainly due to profit booking.

The latest funds pullout follows investors bringing in a net Rs 20 crore in October, its inflow in nearly three and a half years, driven mostly by a rise in demand during the festive season.

The outflow meant assets under management (AUM) of gold funds plunged by more than 5 percent last month.

Accordin to the latest data available with Association of Mutal funds in India (AMFI), a net sum of Rs 69 crore was pulled out of 14 gold-linked ETFs in November.This takes the total outflow of Rs 588 crore in the first nine months (April-November) of the ongoing fiscal, 2016-17.

The Asset base of gold exchange traded funds dropped to Rs5,737 crore at the end of November from Rs6,047 crore in october end.

Trading gold ETF segment has been tepied funds in the last three financial years too. They had witnessed an outflow of Rs 903 crore Rs1,475 crore and Rs2,293 crore in2015-16 2014-15 and 2013-14 respectively.

The pace of outflow slowed in 2015-16 as against the preceding two years on account sluggish equity market.

    "Globally, too, November has been a weak month, marked by outflows in gold ETFs as financial markets remained positive, post (Donald) Trump's victory. That domestic gold delivered about 15 per cent in the past one year could also have seen some investors, who were waiting for opportunities to exit, book profits in the instrument," she said. Gold ETFs are passive investment instruments that are based on gold prices and invest in gold bullion. There is a complete transparency on the holdings of an ETF because of its direct gold pricing.

Read more at: http://www.moneycontrol.com/news/market-news/investors-lock-profitgold-etf-take-out-rs-588-crapr-nov_8096661.html?utm_source=ref_article

"Globally, too, November has been a weak month, marked by outflows in gold ETFs as financial markets remained positive, post (Donald) Trump's victory. That domestic gold delivered about 15 per cent in the past one year could also have seen some investors, who were waiting for opportunities to exit, book profits in the instrument," she said. Gold ETFs are passive investment instruments that are based on gold prices and invest in gold bullion. There is a complete transparency on the holdings of an ETF because of its direct gold pricing

Read more at: http://www.moneycontrol.com/news/market-news/investors-lock-profitgold-etf-take-out-rs-588-crapr-nov_8096661.html?utm_source=ref_article

"Globally, too, November has been a weak month, marked by outflows in gold ETFs as financial markets remained positive, post (Donald) Trump's victory. That domestic gold delivered about 15 per cent in the past one year could also have seen some investors, who were waiting for opportunities to exit, book profits in the instrument," she said. Gold ETFs are passive investment instruments that are based on gold prices and invest in gold bullion. There is a complete transparency on the holdings of an ETF because of its direct gold pricing

Read more at: http://www.moneycontrol.com/news/market-news/investors-lock-profitgold-etf-take-out-rs-588-crapr-nov_8096661.html?utm_source=ref_article

"Globally, too, November has been a weak month, marked by outflows in gold ETFs as financial markets remained positive, post (Donald) Trump's victory. That domestic gold delivered about 15 per cent in the past one year could also have seen some investors, who were waiting for opportunities to exit, book profits in the instrument," she said. Gold ETFs are passive investment instruments that are based on gold prices and invest in gold bullion. There is a complete transparency on the holdings of an ETF because of its direct gold pricing

Read more at: http://www.moneycontrol.com/news/market-news/investors-lock-profitgold-etf-take-out-rs-588-crapr-nov_8096661.html?utm_source=ref_article

Govt plans projects to overcome land problems for Solar Power.....!

"The government has planned to overcome the challenge by launching the schemes like development parks and Ultra mega Solar power projects,development of Solar zones in the country and roof top solar project "Minister for power, Coal and New Renwable Energy. To overcome the scarcity of land for expansion of solar energy in the country, government is planning a number of intiatives like development of solar parks, ultra mega Solar power projects and Solar zones.

"The government has planned to overcome the challenge launching the schemes like development of solar parks ans ultra mega solar power projects, development of solar zones in the country and roof top solar projects, "Minister for Power, Coal and New Renewable Energy. Solar parks are common development areas for solar Power projects and offer the developers location/ land with prior approvals that is well characterised with proper infrastructure and access to amenities and wher the risk of the project minimised.

"Under Solar zones scheme, a large zone with Solar radiation and other requirements is identified for solar projects. Under roof-top scheme land is not required and rather project are established at roof tops of the existing building "he said."      

Indian Rupee is expected to appreciate.....!

As markets discount the RBI policy outcome where the Repo-rate was kept unchanged. The RBI governor feels that India's inflation rate has risks from volatile crude price and the unclear effects of the withdrawal of high denomination currency notes.

The Indian Rupee appreciated by 0.44 percent yesterday after the Reserve Bank of India in its fifth BI-Monthly Monetary Policy review kept its benchmark Repo-Rate unchanged at 6.25 cent. Other important rates were also kept at the same levels like the Reserve Repo-Rate at 5.75 percent and both marginal standing facility and bank rate stood unadjusted 6.75 percent Urjit Patel, the RBI governor, is of the opinion that there is heightened uncertainty in global markets like rate hike US and Trump's policies along with political risk in Euro-zone which could have a spill-over effect on emerging market economies including India. He feels that India's inflation rate has risks from volatile Crude price and the unclear effects of the withdrawal of high denomination currency notes...

 Outlook...!

Indian rupee is expected to appreciate as markets discount the RBI policy outcome where the Repo-Rate was kept unchanged. The RBI governor feels that India's inflation rate has risks volatile Crude price and the unclear effects of the withdrawal of high denomination currency notes..