Market Watch

Wednesday 23 July 2014

Morning Commodity & Stock Market Tips by Money CapitalHeight


Gold held steady on Wednesday in Asia after dipping overnight, and looked likely to hold above $1,300 an ounce in the near term as geopolitical tensions from crises in Ukraine and the Gaza strip brought safe-haven bids.
The metal rose last week after the downing of a Malaysian airliner over Ukraine, killing all 298 on board. US officials say pro-Russian separatists most likely shot down the jet by mistake, not realizing it was a civilian passenger flight.
Palladium will reach its highest yearly price on record this year and could top that in 2015 as expectations for lower South African output combine with a recovery in demand and doubts over Russian supply.
While the stock  market continues its rally on Wednesday, with Nifty hitting the 7800-mark. The Nifty is up 35.05 points at 7802.90 while the Sensex is up 135.82 points at 26161.62. About 603 shares have advanced, 156 shares declined, and 29 shares are unchanged.
Bajaj Auto, ICICI Bank, Coal India, ONGC and Dr Reddy's Labs are top gainers in the Sensex. Among the losers are Hero MotoCorp, Wipro and Axis Bank.
The Indian rupee gained in the early trade on Wednesday. It has opened higher by 10 paise at 60.14 per dollar versus 60.24 Tuesday.
Asian stocks edged up on Wednesday as risk aversion triggered by recent geopolitical tensions continued to ebb, while the euro languished near eight-month lows.

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