Market Magnify Turmeric News Update

Turmeric on NCDEX settled up by 0.5% at 6384 on short covering after prices dropped on expectations of higher output and increasing supplies of new crop. The demand for the new season turmeric in recent weeks is lower from the up country traders. The turmeric arrivals in the country slow down last week (20-25 Mar) to 21,220 tonnes compared to 621,061 tonnes during previous week, as per the data. On the export front, country exported about 82,115 tonnes during April-Dec period; up by 28% compared to last year exports of 64,105 tonnes, as per government data.

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                          Trading Ideas

*Turmeric trading range for the day is 6244-6520.

*Turmeric prices gained on short covering after prices dropped on expectations of higher output and increasing supplies of new crop.

*urmeric output is expected to be bumper as not only the acreage was higher but weather remained favourable.

*NCDEX accredited warehouses turmeric stocks gained by 249 tonnes to 1657 tonnes.

*In Nizamabad, a major spot market in AP, the price ended at 6173.1 Rupees dropped -6.9 Rupees.

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New board for indirect taxes to become operational from June 1

The Central Board of Indirect Taxes and Customs (CBIC), which will replace the current CBEC, will become operational from June 1 in preparation for the Goods and Services Tax (GST) regime, an official source said.

The Central Board of Excise and Customs (CBEC) is presently the top policy-making forum for indirect taxes in the country. “The CBIC will become operational from June 1. There will be no need for different commissionerates for service tax, central excise and others. There will be only one body Commissionerate for GST,” a CBEC source told IANS.

 

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An internal letter from the Directorate General of Human Resource Development said the notification on the CBIC will be issued in the first week of May, ahead of the July 1 rollout date for GST. The CBIC will have 21 zones, 101 GST taxpayer services commissionerates comprising 15 sub-commissionerates, 768 divisions, 3,969 ranges, 49 audit commissionerates and 50 appeals commissionerates.

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Market Magnify Silver Market Update News

Silver trading range for the day is 41045-41861.Silver gained buoyed by a dip in the dollar, as weaker than expected economic data weighed on the greenback.Feds delicate interest-rate hikes are necessary given the economy is stable and any further fall in unemployment could lead to an inflation run-up.The Commerce Department said, orders for core durable goods, a category that excludes aircraft and military goods rose 0.4% in February.

 https://www.marketmagnify.com/freetrial.php Silver on MCX settled up 0.56% at 41530 buoyed by a dip in the dollar, as weaker than expected economic data and fears that President Trump failed to secure enough Republican votes to push a key healthcare bill through congress weighed on the greenback.

 

Technically market is under short covering as market has witnessed drop in open interest by -5.76% to settled at 12636, now Silver is getting support at 41288 and below same could see a test of 41045 level, And resistance is now likely to be seen at 41696, a move above could see prices testing 41861.

Gold hits one-month peak as Trump healthcare failure hurts dollar

Gold Trading Range for the day is 28650-28900.Gold rose over 1 % to touch a one-month high on Monday as the dollar slid after President Donald Trump’s failure to pass healthcare reform raised doubts over his ability to push through his economic agenda.Gold prices slipped lower as the U.S. dollar regained some strength ahead of a highly-anticipated vote on U.S. President Donald Trumps healthcare bill.

 Spot gold rose 1 % to $1,256.20 per ounce by 0401 GMT, after hitting $1,257.97, its highest since Feb. 28.

U.S. gold futures were up 0.6% at $1,256.30.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.21 % to 832.62 tonnes on Friday from 834.40 tonnes on Thursday.

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निफ्टी 9075 के आसपास, सेंसेक्स करीब 100 अंक गिरा

हफ्ते की शुरुआत घरेलू बाजारों के लिए कमजोरी के साथ हुई है। सेंसेक्स और निफ्टी में 0.25 फीसदी से ज्यादा की कमजोरी नजर आ रही है। एशियाई बाजारों में दबाव के चलते घरेलू बाजारों पर असर हुआ है। कमजोरी के इस माहौल में निफ्टी 9075 के करीब आ गया है, जबकि सेंसेक्स में 100 अंकों तक की गिरावट दिख रही है।

मिडकैप और स्मॉलकैप शेयरों में थोड़ी खरीदारी नजर आ रही है। बीएसई का मिडकैप इंडेक्स 0.25 फीसदी तक बढ़ा है, जबकि निफ्टी के मिडकैप 100 इंडेक्स में 0.1 फीसदी की मामूली बढ़त दर्ज की गई है। बीएसई का स्मॉलकैप इंडेक्स 0.25 फीसदी तक मजबूत हुआ है।

 

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फार्मा, मेटल और एफएमसीजी शेयरों में सबसे ज्यादा बिकवाली का दबाव है। निफ्टी के फार्मा, मेटल और एफएमसीजी इंडेक्स में 0.5 फीसदी की गिरावट दर्ज की गई है। बैंक निफ्टी 0.15 फीसदी गिरकर 21,095 के आसपास है। हालांकि पीएसयू बैंकों और कंज्यूमर ड्युरेबल्स शेयरों में थोड़ी खरीदारी आई है।फिलहाल बीएसई का 30 शेयरों वाला प्रमुख इंडेक्स सेंसेक्स 92 अंक यानि 0.3 फीसदी की गिरावट के साथ 29,329 के स्तर पर कारोबार कर रहा है। वहीं एनएसई का 50 शेयरों वाला प्रमुख इंडेक्स निफ्टी 33 अंक यानि 0.4 फीसदी गिरकर 9,075 के स्तर पर कारोबार कर रहा है।