Achiievers Equities Daily Commodity Report

Daily Commodity Report as on Tuesday, January 06, 2015

Date : Tuesday, January 06, 2015 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 26815 27079 26736 27038 1.15 7007Silver 36627 37196 36385 37026 2.18 9271

Alum. 115.85 115.95 114.5 114.75 -0.82 3130Copper 398 398.25 389.2 391.6 -1.62 17572Lead 119 119.55 117.05 117.2 -1.43 2205Nickel 947 965.3 931 963.8 1.97 5382Zinc 139.1 139.6 137.35 138.2 -0.83 4230

Crude 3380 3380 3190 3215 -5.19 35125Nat. Gas 198.1 202.8 189.4 190.1 -2.86 10850

Chana 26815 27079 26736 27038 1.15 7007

Cardamom 1060 1104 1048 1078.9 0.73 1424Turmeric 9230 9410 9052 9092 -2.36 25980

Jeera 15650 15890 15480 15775 0.93 10980Dhaniya 8180 8449 8164 8279 -0.04 7300

Wheat 1716 1717 1700 1710 -0.12 2750

Soyabean 3450 3514 3450 3482 0.03 66710Ref. Oil 644 647.4 640.1 646.85 0.79 74840CPO 462.8 464 456.7 462.8 0.24 4113RMSeed 3556 3567 3502 3512 -1.40 36600Menthol 764 769.4 750 757.3 0.09 10079Cotton 15650 15720 15640 15690 0.38 5759

USDINR 63.78 63.80 63.59 63.70 0.12 1274795EURINR 76.02 76.35 75.83 75.91 -1.00 45850GBPINR 97.30 97.60 97.15 97.19 -1.05 27201JPYINR 52.86 53.09 52.82 52.96 0.21 12599

Chana settled down on profit booking after prices gained on lower sowing as well acreage.

Turmeric prices ended with losses due to profit booking driven by a weak trend at spot market on sluggish demand.Currency

Jeera prices gained driven by rising domestic as well as export demand in the spot market.


Natural gas dropped from the high as investors book profit after prices rallied on bet that demadn will rise as chilly weather across the US.

Ref soyoil gains on higher demand from oil crusher after the government hiked import duty on edible and crude oil. Cereals

Mentha oil prices gained on the back of strong demand from consuming industries in spot markets against lower arrivals.Oil and Oilseeds & Others

Soyabean settled flat on profit booking after prices seen supported on supply worries after untimely monsoon rains has damaged the crops.

Energy Copper dropped with a stronger dollar pressuring prices although expectations of more stimulus measures in China and Europe put a floor under the market.

Zinc prices dropped as a broadly stronger U.S. dollar dampened the appeal of the commodity.Pulses

Nickel prices turned higher on short covering despite of a series of unfavorable macroeconomic newsSpices

Market Round upPrecious Metals

Gold gains as equity markets worldwide fell on concerns over the future of Greece in the euro zone and lower oil prices.

Base MetalSilver prices gained as investors sought shelter from steep losses in the oil market, amid lingering fears of a global economic slowdown.

Crude dropped and trading near to $50 a barrel as demand concerns and robust global production weighed on prices.

Silver settled up 2.18% at 37026 tracking gain's from Comex Silver which settled at 16.15 rose nearly 2.8 percent an ounce as equity markets worldwide fell on concerns over the future of Greece in the euro zone and loweroil prices, while the euro tumbled and buying from top consumer China picked up ahead of the Lunar New Year. The metal was underpinned as European shares fell sharply due to political uncertainty in Greece ahead ofelections later this month, while energy sector stocks led a broad selloff on Wall Street as crude prices fell to 5-1/2-year lows. Lastweek Silver showed no significant change and moved back and forth during the week amidthe lack of liquidity in the market during the holiday period. However, hand in hand with gold, silver closed at a bullish high at the end of the week, trading at $16.125, $0.415 higher on the back of speculative buyout. In theweek ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Wednesday’s Federal Reserve meeting minutes will bealso closely watched. Gold lost nearly 2% in 2014 amid indications a strengthening U.S. economic recovery will force the Fed to start raising interest rates sooner and faster than previously thought. Expectations of higherborrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Technically market is under short covering as market haswitnessed drop in open interest by -3.11% to settled at 9271, now Silver is getting support at 36542 and below same could see a test of 36058 level, And resistance is now likely to be seen at 37353, a move above could seeprices testing 37680.


CLOSE 37026 RES-1 37353 Holdings at ishares silver trust dropped by 0.05% i.e. 4.63 tonnes to 10245.96 tonnes from 10250.59 tonnes.

% CNG 2.18 RES-2 37680 BUY SILVER MAR @ 36800 SL 36500 TGT 37100-37560.MCX

HIGH 37196 SUP-1 36542 Silver prices gained as investors sought shelter from steep losses in the oil market, amid lingering fears of a global economic slowdown.

LOW 36385 P.P. 36869 The U.S. Federal Reserve minutes on Wednesday will be picked through for clues on the timing of interest rates hikes.

Gold settled up 1.15% at 27038 ended sharply higher on Monday, with investors seeking the safe haven of the precious metal on concerns over the Greek crisis and fears of a global economic slowdown following crude oil'sextraordinary plunge to new depths. The precious metal continued to benefit with the euro at a near nine-year low against the dollar, amid worries that Greece may be on the verge of an exit from the eurozone following thegeneral elections on January 25. Observers believe the elections in Greece would most likely go in favor of the leftist party - Syriza led by Alexis Tsipras that is strongly opposed to the austerity measures taken by thegovernment on cue from the EU and the IMF. Also Political uncertainty in Greece, which has renewed fears of a Greek exit from the euro zone, also rattled European stocks ahead of the country's elections later this month.Meanwhile, Chinese buying has picked up in recent weeks ahead of the Lunar New Year holiday, when gold is bought for gifts. Demand is likely to stay strong until the holiday in February. Demand from buyers in China wasreflected in higher premiums to London gold prices. Prices on the Shanghai Gold Exchange were around $7 an ounce higher than the global benchmark. Premiums were around $4-$5 last week. While India is planning toformulate a longterm strategy for import of gold to meet the requirement of jewellery exporters while keeping the current account and trade deficits in check. In a surprise move at the end of November, the government hadeased import curbs on the precious metal. Technically market is getting support at 26823 and below same could see a test of 26608 level, And resistance is now likely to be seen at 27166, a move above could see pricestesting 27294.

MCX Silver Mar 2015 TRADING IDEA

OPEN 36627 SUP-2 36058 Silver trading range for the day is 36058-37680.

CLOSE 27038 RES-1 27166 SPDR gold trust holdings gained by 1.79 tonnes i.e. 0.25% to 710.81 tonnes from 709.02 tonnes.

% CNG 1.15 RES-2 27294 BUY GOLD FEB @ 26950 SL 26800 TGT 27100-27250.MCX

HIGH 27079 SUP-1 26823 Gold gains as equity markets worldwide fell on concerns over the future of Greece in the euro zone and lower oil prices.

LOW 26736 P.P. 26951 Prices also seen supported by strong buying from top consumer China, which offset a firm dollar.

MCX Gold Feb 2015 TRADING IDEA

OPEN 26815 SUP-2 26608 Gold trading range for the day is 26608-27294.

Copper settled down -1.62% at 391.60 fell to a one-week low on Monday, as a broadly stronger U.S. dollar dampened the appeal of the commodity. Dollar rallied on concerns that Greece will leave the euro currency union.Last week Prices are under pressure since last 15days as Copper was pressured to the downside during the Christmas holidays, settling at a more than four-year low of $6,230 per ton. Meanwhile, the warehouse stocks werenot changed and stood at 171,850. Activity is expected to be quiet during the last days of 2014. Copper shed 14 percent in 2014, the biggest annual decline in three years, due to concerns that a supply surplus would hit themarket next year just as Chinese growth shifts down. Commodity markets were also hurt by crude oil, which fell to a fresh 5-1/2-year low on worries about a surplus of global supplies and lackluster demand. Chinaintroduced a new export tax rebate for some copper products in a move expected to increase copper product shipments by as much as tenfold. Expectations grew on Monday that Syriza, a party of the radical left, will win inGreece’s upcoming presidential election. Should the party win the election as expected, it will cancel the nation’s austerity measures and slash debts, presenting greater risks of Greece’s exit from the European Union. Inaddition, Mario Draghi, President of the European Central Bank (ECB), hinted last Friday that the ECB is approaching broad-based quantitative easing by purchasing government bonds. Technically market is under freshselling as market has witnessed gain in open interest by 21.57% to settled at 17572, now Copper is getting support at 387.8 and below same could see a test of 384 level, And resistance is now likely to be seen at 396.8, amove above could see prices testing 402.


CLOSE 391.6 RES-1 396.8 Copper sheds 14% in 2014, due to concerns that a supply surplus would hit the market next year just as Chinese growth shifts down.

% CNG -1.62 RES-2 402.0 SELL COPPER FEB @ 395 SL 399 TGT 391.50-388.50-384.50.MCX

HIGH 398.3 SUP-1 387.8 Copper dropped with a stronger dollar pressuring prices although expectations of more stimulus measures in China and Europe put a floor under the market.

LOW 389.2 P.P. 393.0 Data showed copper production in top exporter Chile fell for a fifth straight month in November, dropping 7.3 percent from a year earlier.

Crudeoil settled down -5.19% at 3215 fell to fresh five and a half year lows on persisting surplus concerns after preliminary data showed that Russian crude oil output reached a post-Soviet high in December and as Iraqicrude oil exports rose to a multi-decade high last month. Crude oil's extraordinary plunge to new depths came amid reports that oil supplies from Russia and Iraq surged to its highest level in decades, with the two joining anumber of major producers refusing to curb production. Russian oil production rose 0.3 percent in December to a post-Soviet record of 10.667mbls a day, according to preliminary data from the Kremlin's energy ministry.Meanwhile, Saudi Arabia on Monday slashed its monthly oil prices for European consumers and further trimmed prices for U.S. refiners. Nonetheless, Saudi Arabia increased its rates for Asia. Saudi Aramco lowered itsFebruary price for Arab Light crude to Northwest Europe by $1.50, which is at a discount of $4.65 a barrel when compared to the Brent Weighted Average. Meanwhile, Americans continue to enjoy the benefits of the supplyglut, while paying less at the pump these days, with the national average for a gallon of gasoline dropping to $2.18. WTI dropped almost 46% after the OPEC decided to maintain its output target at 30 million barrels a day.In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Wednesday’s Fed meeting minutes will be alsoclosely watched. Technically market is getting support at 3144 and below same could see a test of 3072 level, And resistance is now likely to be seen at 3334, a move above could see prices testing 3452.

MCX Copper Feb 2015 TRADING IDEA

OPEN 398.0 SUP-2 384.0 Copper trading range for the day is 384-402.

CLOSE 3215 RES-1 3334 Lacklustre economic data from the United States fuelled worries about the state of the global economy and the strength of oil demand.

% CNG -5.19 RES-2 3452 SELL CRUDE OIL JAN BELOW 3200 SL 3260 TGT 3156-3110-3070.MCX

HIGH 3380 SUP-1 3144 Crude dropped and trading near to $50 a barrel as demand concerns and robust global production weighed on prices.

LOW 3190 P.P. 3262 Oil complex has been under pressure after data showed Russian oil output at post-Soviet era highs and Iraqi oil exports at highest since 1980.

MCX Crudeoil Jan 2015 TRADING IDEA

OPEN 3380 SUP-2 3072 Crudeoil trading range for the day is 3072-3452.

Nickel settled up 1.97% at 963.80 as prices turned higher on short covering despite of a series of unfavorable macroeconomic news. Germany’s December CPI fell short of market expectations, though ISM’s December PMIfor the US topped November’s. China’s nickel ore and concentrate imports fell 63.5% y/y and 31.2% m/m to 2.86Mt in November. Indonesia’s nickel ore exports to China were negligible due to Indonesia’s mineral ore exportban. Last week Nickel dropped lower, towards the seven month low after a previous gain amid unexpected Chinese news. However, investors expect the metal production growth will experience a slower pace and the globalbalance will turn from surplus to deficit by the second quarter of 2015. In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recoveryin the labor market. Wednesday’s Federal Reserve meeting minutes will be also closely watched. LME nickel prices opened at USD 14,830/mt overnight, touching USD 15,090/mt, and fluctuated around USD 14,900/mt.During European and US trading hours, LME nickel prices dipped to USD 14,625/mt, but rebounded to USD 15,000/mt, and closed at USD 15,125/mt, up 1.64%. LME nickel inventories fell 144 to 414,756 mt. In the weekahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Technically market is under short covering as market haswitnessed drop in open interest by -4.3% to settled at 5382 while prices up 18.6 rupee, now Nickel is getting support at 941.5 and below same could see a test of 919.1 level, And resistance is now likely to be seen at 975.8,a move above could see prices testing 987.7.


CLOSE 963.8 RES-1 975.8 Indonesia’s nickel ore exports to China were negligible due to Indonesia’s mineral ore export ban.

% CNG 1.97 RES-2 987.7 SELL NICKEL JAN @ 975 SL 990 TGT 960-942.MCX

HIGH 965.3 SUP-1 941.5 Nickel prices turned higher on short covering despite of a series of unfavorable macroeconomic news

LOW 931.0 P.P. 953.4 China’s nickel ore and concentrate imports fell 63.5% y/y and 31.2% m/m to 2.86Mt in November.

Zinc settled down -0.83% at 138.20 as concerns over the global economic outlook and the impact on future demand prospects dampened the appeal of the commodity. US dollar index closed Monday up 0.3% at 91.43,surging to a refreshed 8-year high at one stage, while the euro slipped 0.57%. As Expectations grew on Monday that Syriza, a party of the radical left, will win in Greece’s upcoming presidential election. Should the party winthe election as expected, it will cancel the nation’s austerity measures and slash debts, presenting greater risks of Greece’s exit from the European Union. In addition, Mario Draghi, President of the European Central Bank(ECB), hinted last Friday that the ECB is approaching broad-based quantitative easing by purchasing government bonds. As a result, the euro fell again to a 9-year low on Monday. Lastwek Zinc prices are moving in a ratherdirectionless manner. The market participants have been cautious lately, as stocks for the metal continue to decrease and many major mines were closed, leading to the supply being limited. Therefore, the year of 2015 islikely to give some opportunities for the market investors, especially since other commodities are struggling. Technically market is under long liquidation as market has witnessed drop in open interest by -12.26% to settledat 4230 while prices down -1.15 rupee, now Zinc is getting support at 137.2 and below same could see a test of 136.1 level, And resistance is now likely to be seen at 139.5, a move above could see prices testing 140.7.

MCX Nickel Jan 2015 TRADING IDEA

OPEN 947.0 SUP-2 919.1 Nickel trading range for the day is 919.1-987.7.

CLOSE 138.2 RES-1 139.5 In Europe, markets predict the left-wing Syriza party which aims to scrap the austerity measures will win the snap election in Greece.

% CNG -0.83 RES-2 140.7 SELL ZINC JAN @ 138.90 SL ABV 140.20 TGT 137.80-136.50. MCX (STBT)

HIGH 139.6 SUP-1 137.2 Zinc prices dropped as a broadly stronger U.S. dollar dampened the appeal of the commodity.

LOW 137.4 P.P. 138.4 Investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market.

MCX Zinc Jan 2015 TRADING IDEA

OPEN 139.1 SUP-2 136.1 Zinc trading range for the day is 136.1-140.7.

Turmeric settled down by -2.36% at 9092 due to profit booking driven by a weak trend at spot market on sluggish demand. Moreover, adequate supplies from producing regions led to fall in turmeric prices. However lowerstocks, lower production reports and improved export and North India demand limited the downside. Prices of the hybrid turmeric touched Rs. 10,888 a quintal due to quality arrivals and fresh upcountry demand. Of thearrival of 10,500 bags of turmeric, more than 60 per cent stocks were sold. The traders expect the price of the local variety too to rise further as they have received some new orders from North India. The hybrid root varietywas up Rs. 1,200 a quintal while other local varieties gained Rs. 300-500. Traders, especially exporters, procured good number of turmeric due to arrival of good quality produce. Many buyers were keen on buying qualityhybrid turmeric and also local root variety turmeric. Sowing of Turmeric in AP for the 2014-15 season is reported at 0.13 lakh ha, as against 0.1 lakh ha last year. The area in Telanaga stood at 0.446 lakh ha against 0.431lakh ha last year. Exports in turmeric have increased by 10% to 43000 tonnes during Apr-Sep 2014 as compared to last year. The export target for the 2014-15 is 80000 tonnes according to Spice Board. In Nizamabad, amajor spot market in AP, the price ended at 8005.25 rupees dropped -39.2 rupees.Technically market is under fresh selling as market has witnessed gain in open interest by 0.35% to settled at 25980 while prices down -220rupee, now Turmeric is getting support at 8958 and below same could see a test of 8826 level, And resistance is now likely to be seen at 9316, a move above could see prices testing 9542.


CLOSE 9092 RES-1 9316 Prices of the hybrid turmeric touched Rs. 10,888 a quintal due to quality arrivals and fresh upcountry demand.

% CNG -2.36 RES-2 9542 BUY TURMERIC APR ABV 9150 SL 9020 TGT 9260-9340-9450.NCDEX

HIGH 9410 SUP-1 8958 Turmeric prices ended with losses due to profit booking driven by a weak trend at spot market on sluggish demand.

LOW 9052 P.P. 9184 Moreover, adequate supplies from producing regions led to fall in turmeric prices.

Chana settled down by -0.42% at 3529 on profit booking after prices gained on lower sowing as well acreage. However, sharp rise in chana prices may be capped after government extended the duty free of import of chanafor the three months. Worried over the fall in acreage and likely decline of output, the government extended the duty free of import of chana till Mar 31 2015. India 2014-15 rabi gram sowing until Jan 2 at 7.79 millionhectares as compared to 9.5 million hectare previous year. Pulses sowing fell by 10% to 13 million hectare as compared to last year due to lower rains and late harvesting to kharif crops in Madhya Pradesh, Maharashtra andAndhra Pradesh. Acreage of the crop harvested in 2015 is forecasted 12% lower at 8.90 million hectare as compared to 10.19 million hectare in previous season. Lower prices on the back of record output and comfortablesupplies may force farmers to switch over to other remunerative crops such as mustard and coriander which could yield better returns. Due to this, the government has set a target of 9.3 million tons for chana output for2014-15 rabi season, down 5.87% compared to previous year. In 2013-14, India produced record 9.9 million ton chana up from 8.8 million ton a year ago thanks to favourable 2013 monsoon. In Delhi spot market, chanadropped by -26.2 rupee to end at 3516.3 rupee per 100 kgs.Technically market is under fresh selling as market has witnessed gain in open interest by 0.76% to settled at 73350 while prices down -15 rupee, now Chana isgetting support at 3502 and below same could see a test of 3475 level, And resistance is now likely to be seen at 3561, a move above could see prices testing 3593.

NCDEX Turmeric Apr 2015 TRADING IDEA

OPEN 9230 SUP-2 8826 Turmeric trading range for the day is 8826-9542.

CLOSE 3529 RES-1 3561 NCDEX accredited warehouses chana stocks dropped by 198 tonnes to 37421 tonnes.

% CNG -0.42 RES-2 3593 BUY CHANA FEB @ 3530-3535 SL BELOW 3476 TGT 3570-3598-3625. NCDEX (BTST)

HIGH 3566 SUP-1 3502 Chana settled down on profit booking after prices gained on lower sowing as well acreage.

LOW 3507 P.P. 3534 In 2013-14, India produced record 9.9 million ton chana up from 8.8 million ton a year ago thanks to favourable 2013 monsoon.

NCDEX Chana Feb 2015 TRADING IDEA

OPEN 3555 SUP-2 3475 Chana trading range for the day is 3475-3593.

121.3120.4118.8

113.8115.4116.3

2205

117.9

1.15


Positive Positive

SPREAD 217 507 59.00 1.30 4.60 0.85 6.80

TREND Positive Positive Positive Positive Positive Positive Positive

0.75

919.1 113.726823 36542 3144 185.4 387.8

OI 7007 9271 35125 10850 17572 4230 5382 3130134.9 907.2 112.9

137.2 941.5 114.3136.1

P. POINT 26951 36869 3262 194.1 393.0

26480 35731 2954 172.0 378.8SUPPORT 26608 36058 3072 180.7 384.0

396.8 139.5 975.8 115.7138.4 953.4 115.1

RESISTANCE27509 38164 3524 212.2 405.8 141.8 1010.1 117.127294 37680 3452 207.5 402.0 140.7 987.7 116.527166 37353 3334 198.8

CLOSE 27038 37026 3215 190.1 391.6 138.2 963.8 114.75

Mentha oil settled up by 0.09% at 757.3 on the back of strong demand from consuming industries in spot markets against lower arrivals from Chandausi in Uttar Pradesh. Rates shot up for Mentha Oil as winter seasondemand started rising in the mandis. Domestic winter season demand from Pharmaceutical Industries however remained and supported the prices at these levels. As per the Latest reports from Spice Board indicate that forthe period April/December last year, exports for Mint value-added products like Oil, Menthol and its crystals rose 94% in volumes at 17,850 tonnes and 39% in value at Rs 2202 Cr w.r.t. same period the previous year. Priceshad been in corrective mode since last 3years after Govt stated banning of Gutkha in some states which continues having negative impact on Mentha Oil demand. As farmers are not getting lucrative returns from the crop due to weakness in the prices and poor demand with High carry stock this year farmers can divert to some other cash crop that can support the prices in Q1Y15 as that can reduce the production from 60000 tonnes to ~45-50000tonnes as compare to last year. At Sambhal market arrivals were reported at 35 Drums(1-drum=180kg), higher by 35 Drums(1-drum=180kg) from previous trading day. At Bareilly market total arrivals are at 1 Drums(1-drum-180kg), lower by 1 Drums(1-drum-180kg) as compared to previous day. At Rampur market estimated market supply was at 2 Drums(1-drum=180kg), higher by 2 Drums(1-drum=180kg) from previous trading day.Technically market is under short covering as market has witnessed drop in open interest by -0.93% to settled at 10079, now Menthaoil is getting support at 748.4 and below same could see a test of 739.5 level, Andresistance is now likely to be seen at 767.8, a move above could see prices testing 778.3.

DAILY MARKET LEVEL FOR METAL AND ENERGY

COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD

117.2

CLOSE 757.3 RES-1 767.8 Rates shot up for Mentha Oil as winter season demand started rising in the mandis.

% CNG 0.09 RES-2 778.3 BUY MENTHA OIL JAN @ 749-753 SL BELOW 740 TGT 762-774-785. MCX (BTST)

HIGH 769.4 SUP-1 748.4 Menthaoil spot is at 870/-. Spot market is up by Rs 2/-.

LOW 750.0 P.P. 758.9 Mentha oil prices gained on the back of strong demand from consuming industries in spot markets against lower arrivals.

MCX Menthaoil Jan 2015 TRADING IDEA

OPEN 764.0 SUP-2 739.5 Menthaoil trading range for the day is 739.5-778.3.

All Day EUR 0 01:45pm EUR 52.9 52.72:15pm EUR 51.4 51.82:30pm EUR 51.9 51.93:00pm GBP 58.9 58.63:00pm GBP 0 0Tentative GBP 0 2.21|1.58:15pm USD 53.8 53.68:30pm USD 58.2 59.38:30pm USD -0.003 -0.007

0 0 0 00 0 0 00 0 0 0

8

Construction spending in the U.S. unexpectedly decreased in the month of November, according to areport released by the Commerce Department. The Commerce Department said construction spending fell 0.3 percent to an annual rate of $975.0 billion in November from the revised October estimate of$977.7 billion. The drop in construction spending came as a surprise to economists, who hadexpected spending to increase by about 0.5 percent. The unexpected decrease was primarily due tosteep drop in spending on public construction, which tumbled by 1.7 percent to an annual rate of$277.3 billion. Spending on federal construction plunged by 6.0 percent to $23.5 billion, whilespending on state and local construction slid by 1.3 percent to $253.7 billion. On the other hand, theCommerce Department said spending on private construction rose by 0.3 percent to an annual rate of$697.7 billion. The report said spending on residential construction climbed by 0.9 percent to $352.7billion, more than offsetting a 0.3 percent drop in spending on non-residential construction, which fellto $345.0 billion.

Pending home sales saw a slight improvement in the month of November, according to a reportreleased by the National Association of Realtors, with pending sales rebounding from the drop seen inthe previous month. NAR said its pending home sales index rose 0.8 percent to 104.8 in Novemberafter tumbling 1.2 percent to a downwardly revised 104.0 in October. Economists had been expectingthe index to increase by about 0.5 percent. A pending home sale is one in which a contract wassigned but not yet closed. Normally, it takes four to six weeks to close a contracted sale. With themonthly increase, the pending home sales index is up by 4.1 percent compared to a year ago,reflecting the biggest year-over-year gain since August of 2013. Lawrence Yun, NAR chief economist,said signed contracts have been fairly stable but haven't broken out even as the economy picked upsteam this spring.

Leading commodity exchange National Commodity and Derivatives Exchange (NCDEX) has registereda traded volume of 4,856 tonne in forward contracts and a traded value of Rs 8.18 crore since itslaunch. NCDEX had launched forward contracts in September 2014, the commodity exchange said in a release. The commodity delivered through the exchange platform in forward segment was 3,385.32tonne till December 31, 2014. "For trading in forwards segment of the exchange, already 12 farmersproducer organisations (FPOs) have registered with us as members, 25 FPOs are in process to obtainmembership of the Exchange. "In the forwards segment out of newly launched 17 commodities, Jeeraand Castor have already started trading successfully on the platform," NCDEX Managing Director andCEO Samir Shah said. During December 2014, the Forwards segment registered a trade volume of1,546 tonnes on the exchange, with traded value of Rs 3. 22 crore. During the month 236.50 tonnesof commodities were delivered through the exchange platform. In the futures segment of theexchange, the average open interest for December 2014, was Rs 6,581.78 crore. The average dailytrading volume (ADTV) for the month was Rs 3,672. 32 crore and 1,04,979 tonnes of commoditieswere delivered through futures segment during the month.

Government has raised the import tax on crude edible oils and refined oils by 5 percentage pointseach to protect local farmers from rising imports from Malaysia and Indonesia. In an order madepublic, it said the import tax on the crude variety of vegetable oil would rise to 7.5 percent from 2.5percent, while that on refined oil would rise to 15 from 10 percent with immediate effect. India is theworld's biggest vegetable oil importer. It meets nearly 60 percent of its 18-19 million tonnes ofannual demand from overseas, mostly in the form of palm oil from top producers Indonesia andMalaysia. The increase in import duties is expected to hit Malaysian palm oil futures, the regionalbenchmark. Still, the food ministry had sought to double the tax on crude edible oils while increasingthat on refined oils by 50 percent. Hit by cheaper vegetable oil imports from Malaysia and Indonesia,industry body the Solvent Extractors Association of India (SEA) had petitioned the government toraise the import duty on crude vegetable oils to 10 percent and 25 percent on refined products.

Date : Tuesday, January 06, 2015 URL : www.achiieversequitiesltd.com Page No -

Final Services PMIISM Non-Manufacturing PMIFactory Orders m/m

000

PREV

The U.S. factory sector grew at its slowest pace in six months in December, a sign that weakness inthe global economy is weighing on the United States. The Institute for Supply Management (ISM) saidits index of national factory activity fell to 55.5 last month from 58.7 in November. A reading above50 indicates expansion in the manufacturing sector, and the reading remains well above its two-yearaverage. That means the slowdown appears unlikely to derail a broader strengthening of the U.S.economy. "These were readings that in any ordinary time would be considered excellent," GuyBerger, an analyst with RBS Securities, said in a note to clients. Prices for U.S. Treasuries rose andthe U.S. dollar was up against a basket of currencies after the data. U.S. stock indexes also weretrading higher. Still, the data suggests weakness abroad and a surge in the value of the dollar, whichis near its strongest level since 2005, are inflicting pain on key parts of the U.S. economy. A gauge offactory exports fell to 52 in December from 55 in the previous month.

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