Transcription
Good morning Neha. Tell me, what are the signals from the American markets and what is the condition of the commodity market? Absolutely good morning Swati. See, there haven't been any major developments or statements from the war front. However, Iran has spoken of retaliation because there are some sporadic reports of ceasefire violations coming from here and there. Meanwhile, as you know, the war between America and Iran is continuing for the 13th week. The market can be said to be cautiously positive on the nuclear deal, and this is the reason why you saw a record rally continuing in the American markets. Let's leave aside one instance that proved to be an exception. A weakness of 118 points was seen here. Otherwise, if you look at the S&P and Nasdaq, they touched new life highs intraday and recorded closings were also registered here. To give you the precise levels, 7539, 7539 was the level that is now recorded in history as a life high, and we also saw a record closing which came with a gain of 45 points. Talking about the Dow, here too we saw a life high of 26,725 recorded intraday, and with a gain of 312 points, we saw a live closing of 26,656. A weakness of about 50 points from the day's high was seen in the Dow, and the closing was 118 points lower. But let me tell you, we saw excellent strength in the American markets on the back of tech stocks, and out of the 11 sectors of the S&P, six sectors showed very good movement. The healthcare space was also one of them. The dollar index is sluggish near 99. We are seeing a range-bound trade near the red mark for the last few trading sessions. The 10-year US bond yield has gone to its 10-day low, and yesterday we saw it around 4.48%. It traded in the red for the fourth consecutive day. You mentioned the commodity market, so pay attention to crude oil. The July contract, which expires on May 29th, we saw it near $99, and strength was once again seen returning here. We saw a strength of 3.5% in yesterday's session. It has now come down a bit. But we will focus on the August contract of crude because the volumes are higher here going forward. It is trading around $96. Yesterday, we saw a slight strength due to the increased Middle East tension. Today, a cool-off is again being seen. Talking about gold and silver, there is a marginal gain. We saw gold trading around $4500 on Comex. We saw a strength of 1.5% in silver, and it was also seen trading above $7. Gold and silver are trading reasonably well. But base metals have shown a mixed trend here. Copper has seen a slight softness. Otherwise, we saw green in other metals. Zinc was seen dipping a bit from its 4-year high. But aluminum, for the first time in 4 years, we saw it moving above $3700, $3700. Yes, the closing was a bit lower, but we saw that it maintained its 4-year high range.