achiievers equities daily commodity report - achiievers equities

Daily Commodity Report as on Thursday, July 24, 2014

Date : Thursday, July 24, 2014 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 27924 27995 27852 27882 -0.05 7259Silver 45100 45166 44878 44928 -0.37 7625

Alum. 122.15 122.4 119.8 119.9 -1.96 7150Copper 428.1 429.45 426 427.15 -0.42 10523Lead 132.8 133.05 130.6 131.35 -1.09 2268Nickel 1143 1146 1132.5 1137 -0.75 4433Zinc 142.2 142.9 141 141.6 -0.63 5944

Crude 6170 6215 6148 6199 0.29 8117Nat. Gas 228 229.4 226.2 226.7 -0.96 8154

Chana 27924 27995 27852 27882 -0.05 7259

Cardamom 937 938.8 927.1 929.1 -0.97 2134Turmeric 6510 6510 6400 6400 -1.99 11660

Jeera 11560 11620 11400 11445 -1.08 6141

Wheat 1607 1610 1602 1607 -0.06 9810

Soybean 3791 3815 3701 3712 -2.60 70830Ref. Oil 681.2 683 676.2 681.6 -0.06 97395CPO 531.2 534.7 529.6 533.9 0.36 2498RMSeed 3639 3639 3592 3599 -0.99 87450Menthol 709.8 713.2 703.6 706.7 -0.80 4746Potato 0 0 0 1360 0.00 65

USDINR 60.25 60.26 60.10 60.13 -0.33 380832EURINR 81.08 81.16 80.96 81.01 -0.41 12195GBPINR 102.82 102.87 102.42 102.48 -0.44 20896JPYINR 59.36 59.44 59.27 59.30 -0.18 2837

Chana prices closed weaker on low demand from millers amid steady supplies in the spot market.

Turmeric prices dropped due to lack of strong demand amidst improved Monsoon rains in the Southern states. Currency

Jeera prices ended with losses tracking weakness in spot demand and on lower export demand.


Natural gas dropped after investors priced in unseasonably mild temperatures and bet that hotter temperatures will return and hike demand.

Ref soyoil ended with losses on subdued exports of soymeal while weak cues from global markets also weighed on sentiment. Cereals

Mentha oil prices dropped on the expectations of higher output from the major producing belts. Oil and Oilseeds & Others

Soyabean prices dropped on subdued exports of soymeal and weak cues from global markets.

Energy Copper declined as traders looked ahead to key Chinese economic data to gauge the strength of the world’s second largest economy.

Zinc prices ended with losses on profit booking after data showed euro zone July CCI was disappointing.Pulses

Nickel prices dropped after the IMF cut its forecast for US GDP growth in 2014Spices

Market Round upPrecious Metals

Gold dropped with investors opting for riskier assets tracking rising global equity markets.

Base MetalSilver dropped as upbeat U.S. data and earnings sent investors flocking to stock markets and out of safe-haven positions in the bullion.

Crude oil rose as oil stockpiles in US fell more than expected and geopolitical tensions in Eastern Europe and the Middle East persisted.

Silver settled down -0.37% at 44928 fell for a second session as stronger stocks lured investors away but lingering geopolitical risks provided some support. Upbeat data released in the U.S. on Tuesday and a slew of better-than-expected earnings enticed investors out of bullion and into equities on Wednesday. The Labor Department reported Tuesday that the U.S. consumer price index rose 2.1% in June, unchanged from the previous monthand in line with forecasts. On a month-over-month basis, U.S. consumer prices were up 0.3% after a 0.4% increase in May, also in line with expectations. Also pressure seen as Rupee strengthened to its strongest level in aweek and half on Wednesday as continued foreign fund inflows into the domestic share and debt markets aided while gains in other Asian units also helped. While sentiments are mixed as investors opting for riskier assetstracking rising global equity markets. Nonetheless, the losses were limited due mainly to the escalating tensions in Gaza where fighting between Israel and Hamas rages on unabated. Meanwhile, ETF inventories showed thatinvestors have become more bearishly biased towards silver. Holdings in total known ETFs backed by silver dropped almost 0.4% month-on-month, the only monthly dip among metals in the sector. Reports of waningphysical demand pushed gold prices lower, though ongoing geopolitical concerns in Ukraine and Israel kept safe-harbor demand alive, which cushioned losses. Technically market is under fresh selling as market haswitnessed gain in open interest by 1.59% to settled at 7625 while prices down -169 rupee, now Silver is getting support at 44816 and below same could see a test of 44703 level, And resistance is now likely to be seen at45104, a move above could see prices testing 45279.


CLOSE 44928 RES-1 45104 ETF inventories showed that investors have become more bearishly biased towards silver.

% CNG -0.37 RES-2 45279 SELL SILVER SEPT @ 45350 SL 45650 TGT 45060-44780.MCX

HIGH 45166 SUP-1 44816 Silver dropped as upbeat U.S. data and earnings sent investors flocking to stock markets and out of safe-haven positions in the bullion.

LOW 44878 P.P. 44991 Upbeat data released in the U.S. and a slew of better-than-expected earnings enticed investors out of bullion and into equities on Wednesday.

Gold settled down at 27882 slipped for a second straight session to end slightly lower on Wednesday, with investors opting for riskier assets tracking rising global equity markets. Nonetheless, the losses were limited duemainly to the escalating tensions in Gaza where fighting between Israel and Hamas rages on unabated. While persisting worries about the situation in Gaza and Ukraine support the yellow metal, optimism about strongcorporate earnings appears to be limiting its upside. Meanwhile, reports from Ukraine say pro-Russian rebels have shot down two Ukrainian fighter jets, close to the location of the Malaysian passenger plane crash in easternUkraine late last week. On Tuesday, gold futures ended lower, as investors chose riskier assets on the back of strong global equity markets. The escalating tension in Gaza and Ukraine also helped gold futures to limit losses.In economic news, euro area consumer confidence deteriorated for a second straight month in July, preliminary data from the European Commission showed Wednesday. The flash consumer confidence index for Eurozone fellto -8.4 from -7.5 in June. Spot gold has traded within its narrowest monthly range in nearly five years so far in July, as strong equity markets divert investment interest from gold. Holdings of SPDR Gold Trust, edged up to804.84 tons on Wednesday, from its previous close of 803.34 tons on Tuesday. Technically market is under long liquidation as market has witnessed drop in open interest by -2.22% to settled at 7259 while prices down -13rupee, now Gold is getting support at 27825 and below same could see a test of 27767 level, And resistance is now likely to be seen at 27968, a move above could see prices testing 28053.

MCX Silver Sep 2014 TRADING IDEA

OPEN 45100 SUP-2 44703 Silver trading range for the day is 44703-45279.

CLOSE 27882 RES-1 27968 Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, edged up to 804.84 tons on Wednesday

% CNG -0.05 RES-2 28053 SELL GOLD AUG @ 28050 SL 28180 TGT 27920-27780.MCX

HIGH 27995 SUP-1 27825 Gold dropped with investors opting for riskier assets tracking rising global equity markets.

LOW 27852 P.P. 27910 Worries about the situation in Gaza and Ukraine support the metal, optimism about strong corporate earnings appears to be limiting its upside.

MCX Gold Aug 2014 TRADING IDEA

OPEN 27924 SUP-2 27767 Gold trading range for the day is 27767-28053.

Copper settled down -0.42% at 427.15 as sentiments remained weak since last week as prices sank to a two-week low, depressed by concerns about the Chinese property sector and news of increased production. TheInternational Monetary Fund (IMF) lowered its forecast for US GDP growth for 2014 from 2% to 1.7% on Wednesday in light of the country’s sluggish economy in the first quarter. The IMF, however, kept its outlook for USgrowth in 2015 and 2016 unchanged at 3%. The Chinese Premier Li Keqiang stated at a State Council executive meeting that China will maintain a stable monetary policy and ensure a reasonable growth in total credits toprop up the real economy. Some investors interpreted the statement as a sign of continuously easy monetary policy, which will help boost stock and commodity markets for recent trading days. A preliminary PurchasingManagers’ Index from HSBC Holdings Plc and Markit Economics was at 52. Stockpiles tracked by the LME fell for a second day to 156,300 tons, according to bourse data yesterday. The People’s Bank of China (PBOC)reported that China’s forex receipts at financial institutions dwindled RMB 88.3 billion to RMB 29.45 trillion in June, down for the first time after rising in 10 straight months. PMIs from Europe and US will be released today,which is optimistic. Technically market is under fresh selling as market has witnessed gain in open interest by 6.73% to settled at 10523 while prices down -1.8 rupee, now Copper is getting support at 425.6 and below samecould see a test of 424.1 level, And resistance is now likely to be seen at 429, a move above could see prices testing 430.9.


CLOSE 427.2 RES-1 429.0 Euro zone enterprises' fiscal earnings reports were positive, but euro zone July CCI was disappointing.

% CNG -0.42 RES-2 430.9 BUY COPPER AUG ABV 427.50 SL 424.50 TGT 429.50-432.50.MCX

HIGH 429.5 SUP-1 425.6 Copper declined as traders looked ahead to key Chinese economic data to gauge the strength of the world’s second largest economy.

LOW 426.0 P.P. 427.5 Copper’s downside seen limited as a major company in China, the world's biggest buyer of the metal, avoided a debt default.

Crudeoil settled up 0.29% at 6199 gained after an official weekly report from the EIA showed crude stockpiles in the U.S. to have dropped more than expected last week. Meanwhile, reports from Ukraine say pro-Russianrebels have shot down two Ukrainian fighter jets, close to the location of the Malaysian passenger plane crash in eastern Ukraine late last week. Yesterday, a report from the U.S. EIA showed U.S. crude oil inventories to havedropped 4mbls in the week ended July 18, with markets anticipating a decline of 2.6mbls. The EIA report showed U.S. crude oil inventories at 371.1mbls, end last week. Gasoline stocks rose by 3.4mbls last week, withmarket anticipating an increase of 1.2mbls. Inventories of distillate, including heating fuel, rose 1.6mbls, while market expected an increase of 1.8mbls. Also a report from the API late Tuesday showed U.S. crude stockpilesto have declined a lower than expected 555kbls in the week ended July 18. In Libya, oil production had fallen to around 450kbpd as of Monday compared with 555kbpd on Thursday, a National Oil Company spokesman said.The drop comes as a twin suicide bombing at a Libyan army base in Benghazi killed at least four solders. Still, more crude from the North African country could hit global markets with the Brega oil port expected to beoperating within a "few days" after the government reached a deal with protesting security guards to end a blockade. Technically market is under fresh buying as market has witnessed gain in open interest by 10.2% tosettled at 8117 while prices up 18 rupee, now Crudeoil is getting support at 6159 and below same could see a test of 6120 level, And resistance is now likely to be seen at 6226, a move above could see prices testing 6254.

MCX Copper Aug 2014 TRADING IDEA

OPEN 428.1 SUP-2 424.1 Copper trading range for the day is 424.1-430.9.

CLOSE 6199 RES-1 6226 In Libya, oil production had fallen to around 450kbpd against 555kbpd, a National Oil Company spokesman said.

% CNG 0.29 RES-2 6254 BUY CRUDE OIL AUG @ 6150 SL 6115 TGT 6198-6235. MCX

HIGH 6215 SUP-1 6159 Crude oil rose as oil stockpiles in US fell more than expected and geopolitical tensions in Eastern Europe and the Middle East persisted.

LOW 6148 P.P. 6187 U.S. government data showed crude stocks fell more than expected by 4 million barrels last week.

MCX Crudeoil Aug 2014 TRADING IDEA

OPEN 6170 SUP-2 6120 Crudeoil trading range for the day is 6120-6254.

Nickel settled down -0.75% at 1137 after the report that Nickel's deficit narrows as China increases more-than-expected volumes of nickel pig iron, a cheaper alternative. Demand will exceed supply by 17,000 tonnes, downfrom the April estimate for a 30,000 tonne deficit. The market last year was in a 109,000 tonne surplus. Nickel is up 37 per cent this year, the most among the six main metals on the London Metal Exchange, as Indonesia,the biggest producer from mines, barred unprocessed ore exports in January. China's stockpiles of nickel ore, which is used to make nickel pig iron, have dropped this year to slightly more than 20 million tonnes from 25million tonnes at the end of 2013. Market's earlier forecast that China's nickel pig iron output would begin falling this summer as inventories declined following Indonesia's ore export ban. LME nickel prices opened at USD19,100/mt overnight, with the high end of the price range USD 19,100/mt, and finding support at USD 18,950/mt. Finally, LME nickel prices closed at USD 19,030/mt, down USD 69/mt from the previous trading day. Alsopressure seen after the update from International Monetary Fund (IMF) who lowered its forecast for US GDP growth for 2014 from 2% to 1.7% on Wednesday in light of the country’s sluggish economy in the first quarter. TheIMF, however, kept its outlook for US growth in 2015 and 2016 unchanged at 3%. Technically market is under long liquidation as market has witnessed drop in open interest by -7.34% to settled at 4433 while prices down -8.6 rupee, now Nickel is getting support at 1131 and below same could see a test of 1125 level, And resistance is now likely to be seen at 1144.5, a move above could see prices testing 1152.


CLOSE 1137.0 RES-1 1144.5 Technically market is under long liquidation as market has witnessed drop in open interest by -7.34% to settled at 4433

% CNG -0.75 RES-2 1152.0 BUY NICKEL JULY ABV 1142 SL 1128 TGT 1154-1165.MCX

HIGH 1146.0 SUP-1 1131.0 Nickel prices dropped after the IMF cut its forecast for US GDP growth in 2014

LOW 1132.5 P.P. 1138.5 The LME stock rise reflects the reality that the global market remained in surplus during the first half of the year

Zinc settled down -0.63% at 141.6 on profit booking after data showed euro zone July CCI was disappointing. The IMF lowered its forecast for US economic growth to 1.7%, depressing market confidence. But fallingLME zinc inventories did give support to zinc prices. Chinese construction company Huatong Road & Bridge Group managed to repaid both the interest and principal on a short-term bond that matured Wednesday, avertinganother corporate bond default in China. In the US, several listed companies reported excellent results, allowing US stocks to extend gains. However, the International Monetary Fund slashed US growth forecast from 2% to1.7%. In addition, the euro zone consumer confidence index for July fell short of forecast, causing the euro to weaken. The Chinese Premier Li Keqiang stated at a State Council executive meeting that China will maintain astable monetary policy and ensure a reasonable growth in total credits to prop up the real economy. Some investors interpreted the statement as a sign of continuously easy monetary policy, which will help boost stock andcommodity markets for recent trading days. LME zinc prices opened at USD 2,366.5/mt overnight, and touched a three-year high of USD 2,376/mt, then fluctuated between RMB 2,350-2,375/mt, and closing at USD2,365/mt, down USD 7.5/mt or 0.32%. Trading volumes decreased by 5,972 to 8979 lots, and total positions increased by 3,459 to 327,084 lots. LME zinc inventories fell by 450 to 655,825 mt. Technically market is underlong liquidation as market has witnessed drop in open interest by -12.6% to settled at 5944 while prices down -0.9 rupee, now Zinc is getting support at 140.7 and below same could see a test of 139.9 level, And resistanceis now likely to be seen at 142.6, a move above could see prices testing 143.7.

MCX Nickel Jul 2014 TRADING IDEA

OPEN 1143.0 SUP-2 1125.0 Nickel trading range for the day is 1125-1152.

CLOSE 141.6 RES-1 142.6 Zinc daily stocks at Shanghai exchange came down by 552 tonnes.

% CNG -0.63 RES-2 143.7 BUY ZINC JULY @ 141.90 SL BELOW 140.50 TGT 142.60-143.40-144. MCX (BTST)

HIGH 142.9 SUP-1 140.7 Zinc prices ended with losses on profit booking after data showed euro zone July CCI was disappointing.

LOW 141.0 P.P. 141.8 IMF lowered its forecast for US economic growth to 1.7%, depressing market confidence.

MCX Zinc Jul 2014 TRADING IDEA

OPEN 142.2 SUP-2 139.9 Zinc trading range for the day is 139.9-143.7.

Turmeric settled down -1.99% at 6400 due to lack of strong demand amidst improved Monsoon rains in the Southern states. Spot turmeric prices edged down due to want of demand. Medium variety hybrid finger turmericarrived for sale and traders purchased all hybrid finger and root varieties at a lower price. The hybrid was down Rs. 200 a quintal. Further, only medium and poor quality turmeric arrived for sale. The hybrid finger turmericlost Rs. 200 a quintal at Rs. 7,929. Of the 4,100 bags that arrived, 2,410 were sold. Traders expect arrivals to rise in a couple of days. At the Erode Turmeric Merchants Association, the finger turmeric was sold at Rs. 4,199-6,585; the root variety at Rs. 4,063-6,429. In Nizamabad sources reported arrivals at 1500 quintals, lower by 1000 quintals from previous trading day. The market sources suggested that the sowing of new crop is still amajor concern in states like Andhra Pradesh and Tamilandu due to delayed monsoon rainfall and poor price realization by cultivators in the last marketing season. Similar trend is also seen in Maharashtra as not much sowinghas been reported in Sangli and Nanded districts. Therefore, weak sowing will restrict the stockiest selling in local mandies. In Nizamabad, a major spot market in AP, the price ended at 6119.45 rupees dropped -18.05rupees. Technically market is under fresh selling as market has witnessed gain in open interest by 1.3% to settled at 11660 while prices down -130 rupee, now Turmeric is getting support at 6363 and below same could see atest of 6327 level, And resistance is now likely to be seen at 6473, a move above could see prices testing 6547.


CLOSE 6400 RES-1 6474 NCDEX accredited warehouses turmeric stocks gained by 110 tonnes to 870 tonnes.

% CNG -1.99 RES-2 6547 SELL TURMERIC AUG @ 6550-6580 SL ABV 6700 TGT 6450-6340-6260. NCDEX (STBT)

HIGH 6510 SUP-1 6364 Turmeric prices dropped due to lack of strong demand amidst improved Monsoon rains in the Southern states.

LOW 6400 P.P. 6437 Medium variety hybrid finger turmeric arrived for sale and traders purchased all hybrid finger and root varieties at a lower price.

Chana settled down -0.53% at 2830 on low demand from millers amid steady supplies in the spot market. Waning demand and subdued activity at the spot markets are weighing on chana prices. Moderate weaknesscontinued to persist for Chana as improved rains in Central and North-west India kept market sentiments weak for the chana prices. Domestic demand for chickpea is weak in local mandis as chana available is of inferiorquality. Chana was sown over an area of 10.21 million hectare compared to 9.5 million hectare a year ago thanks to normal monsoon and good soil moisture. Agriculture ministry has estimated chana record output at 9.79million ton up from 8.83 million ton a year ago, which could revised downwards. Chana arrivals fell by 5 trucks to 20 trucks as compared to previous day. The latest kharif data suggested that kharif pulses sowing has beencompleted in 7.50 lakh hectares as on now, down 59% from the last year in the same period. This has incited the chana traders to reduce their supplies in physical mandies with the anticipation of better demand in thecoming days. Southwest monsoon remained active and country received 10% above normal rains. Monsoon was active over Uttrakhand, west Uttar Pradesh, west Madhya Pradesh, Odisha, Madhya Maharashtra, Vidarbbhaand south interior Karnataka. In Delhi spot market, chana gained by 6.3 rupee to end at 2843.2 rupee per 100 kgs. Technically market is under long liquidation as market has witnessed drop in open interest by -1.49% tosettled at 154440 while prices down -15 rupee, now Chana is getting support at 2815 and below same could see a test of 2796 level, And resistance is now likely to be seen at 2860, a move above could see prices testing2886.

NCDEX Turmeric Aug 2014 TRADING IDEA

OPEN 6510 SUP-2 6327 Turmeric trading range for the day is 6327-6547.

CLOSE 2830 RES-1 2857 NCDEX accredited warehouses chana stocks dropped by 82 tonnes to 122088 tonnes.

% CNG -0.53 RES-2 2885 SELL CHANA AUG @ 2860 SL 2900 TGT 2835-2800.NCDEX

HIGH 2868 SUP-1 2812 Chana prices closed weaker on low demand from millers amid steady supplies in the spot market.

LOW 2823 P.P. 2840 Moderate weakness continued to persist for Chana as improved rains in Central and North-west India kept market sentiments weak.

NCDEX Chana Aug 2014 TRADING IDEA

OPEN 2868 SUP-2 2795 Chana trading range for the day is 2795-2885.

135.2134.1132.8

128.0129.3130.4

2268

131.7

0.9


Positive Positive

SPREAD 135 824 -49.00 2.30 7.40 0.25 5.30

TREND Positive Positive Positive Positive Positive Positive Positive

0.65

1125.0 118.127825 44816 6159 225.4 425.6

OI 7259 7625 8117 8154 10523 5944 4433 7150138.8 1117.5 116.4

140.7 1131.0 119.0139.9

P. POINT 27910 44991 6187 227.4 427.5

27682 44528 6092 222.2 422.2SUPPORT 27767 44703 6120 224.2 424.1

429.0 142.6 1144.5 121.6141.8 1138.5 120.7

RESISTANCE28111 45392 6293 231.8 432.4 144.5 1158.0 124.228053 45279 6254 230.6 430.9 143.7 1152.0 123.327968 45104 6226 228.6

CLOSE 27882 44928 6199 226.7 427.15 141.6 1137.0 119.9

Menthaoil settled down -0.8% at 706.7 on the expectations of higher output from the major producing belts. However, tight stocks in the physical market due to restricted arrivals from producing regions, capped losses inmentha oil prices. In Bareilly total arrivals are at 20 Drums(1-drum-180kg), down by 5 Drums(1-drum-180kg) as against previous day. In Rampur sources reported arrivals at 25 Drums(1-drum=180kg), steady as againstprevious day’s arrival. In Barabanki estimated market supply was at 350 Drums(1-drum-180kg), steady as against previous day’s arrival. In Chandausi sources reported arrivals at 25 Drums(1-drum-180kg), higher by 10Drums(1-drum-180kg) from previous day’s arrivals. Sources mentioned that the total exports of mentha oil for the full year April 1, 2013 to March 31,2014 are likely to surpass the previous record of 20,500 tonne. Sourcesare expecting that the total exports is likely to reach in the range of 21000 to 21500 tonnes as most of exporters are showing strong buying participation at current levels with the anticipation of limited supplies in nextmarketing season. Markets sources suggested that the total carryover stocks of around 26-28 thousand tonnes have been reported in the major producing states. Sources mentioned that mentha oil production in the currentyear is likely to be around 60 thousand tonnes against the earlier estimates of 52-54 thousand tonnes. Technically market is under long liquidation as market has witnessed drop in open interest by -0.32% to settled at 4746,now Menthaoil is getting support at 703.4 and below same could see a test of 698.7 level, And resistance is now likely to be seen at 713, a move above could see prices testing 717.9.

DAILY MARKET LEVEL FOR METAL AND ENERGY

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

131.4

CLOSE 706.7 RES-1 712.0 However, tight stocks in the physical market due to restricted arrivals from producing regions, capped losses in mentha oil prices.

% CNG -0.80 RES-2 717.4 BUY MENTHA OIL JULY ABV 715 SL BELOW 702 TGT 724-732-740. MCX (BTST)

HIGH 713.2 SUP-1 702.4 Menthaoil spot is at 786/-. Spot market remains unchanged.

LOW 703.6 P.P. 707.8 Mentha oil prices dropped on the expectations of higher output from the major producing belts.

MCX Menthaoil Jul 2014 TRADING IDEA

OPEN 709.8 SUP-2 698.2 Menthaoil trading range for the day is 698.2-717.4.

11:30am EUR 0.259 0.25912:30pm EUR 48.5 48.212:30pm EUR 48.9 48.21:00pm EUR 52.2 521:00pm EUR 54.7 54.61:30pm EUR 52 51.81:30pm EUR 52.7 52.81:30pm EUR 0.004 0.0046:00pm USD 310K 302K7:15pm USD 57.5 57.37:30pm USD 485K 504K8:00pm USD 95B 107B

0 0 0 0

8

With energy prices showing a significant increase amid rising gasoline prices, the Labor Departmentreleased a report showing that U.S. consumer prices rose in line with economist estimates in themonth of June. The Labor Department said its consumer price index rose by 0.3 percent in June afterclimbing by 0.4 percent in May. The increase by the index matched the consensus estimate. Followinga broad-based increase in May, the consumer price growth in June was primarily due to the jump inenergy prices. The report said energy prices surged up by 1.6 percent in June after advancing by 0.9percent in May. A 3.3 percent jump in gasoline prices contributed to the continued growth.Meanwhile, the Labor Department said food prices edged up by just 0.1 percent in June after rising by0.5 percent in May, reflecting the smallest monthly increase since January. Excluding food and energyprices, core consumer prices inched up by 0.1 percent in June following a 0.3 percent increase in theprevious month. Economists had expected core prices to edge up by 0.2 percent.

U.K. retailers expect a stronger sales growth next month and increased their stocks in relation toexpected demand, Distributive Trades Survey from the Confederation of British Industry showed.Beating expectations, retail sales balance rose to +21 percent in July from +4 percent in June.Economists had forecast the balance to climb to 15 percent. Sales are expected to increase at a muchfaster pace next month. About 51 percent said they expect sales volumes to grow next month, while15 percent expect them to decrease, giving a balance of +36 percent. Retailers increased their stocksin relation to expected demand. The balance at +32 percent is the highest level since November1984. "As the temperature began to rise, it seems so did sales volumes," said Barry Williams, chair ofthe CBI Distributive Trades Survey panel. "Almost all sectors saw growth, with grocers and clothingstores telling us they performed particularly well as people bought barbeque supplies and summeroutfits."

Natural-rubber imports by India, the world's third-biggest consumer, may match a record this yearafter prices fell into a bear market and as rising car sales boost demand for tires, according to ApolloTyres. Purchases in the 12 months that began on April 1 may be similar to the all-time high of324,467 tonnes a year earlier, said Sunam Sarkar, chief financial officer of India's second-biggesttiremaker by market value. The Gurgaon-based company imports 50 per cent of its requirements, hesaid. Apollo, MRF and Ceat are among companies increasing imports as futures in Tokyo trade near afive-year low. Prices have slumped 63 per cent from a record high in 2011 and may extend losses asa global glut stretches into a fourth year, a Bloomberg survey showed on May 13. Tiremakers arebenefiting from cheaper imports, helping them offset rising costs of raw materials made from crudeoil, Sarkar said. "Imports of natural rubber surged to these levels due to the price difference in thedomestic and international markets," Sarkar said by e-mail on July 14. "The trend is likely to continuefor the next few months of the monsoon as the tapping of rubber is very low" during the rainy season, keeping prices higher in the domestic market, he said. Overseas purchases jumped 65 per cent to96,392 tonnes in the three months ended June from a year earlier, according to the state-run RubberBoard. Production climbed 11 per cent to 167,000 tonnes during the period, while consumption rose

Cotton import in India is likely to double this year, due to the higher prices in the domestic marketthan abroad. The Confederation of Indian Textile Industry (CITI) estimates the cotton import at 1.5million bales (a bale is 170 kg) in the current cotton year (October 2013-September 2014), ascompared to 0.7 million bales the previous year. "Cotton is selling in India at four-five per centpremiums, said D K Nair, secretary-general of CITI. "The sea transport cost from Africa to southernports is drastically lower than surface transport cost from the central and western Indian states."Indian mills have signed contracts with African suppliers for all types of cotton imports. Thebenchmark Shankar-6 variety is trading at Rs 11,642 a quintal, in comparison with the landed cost insouthern ports at Rs 11,000 a quintal. Prices in both domestic and international markets declined twoto three per cent in the past week. The trend is likely to continue, due to lower demand from China.That country is a perennial importer from India but it is not buying the quantity of both cotton andyarn as in earlier years. Cotton demand from the domestic market has also fallen in recent months,due to a slump in consumption from yarn producers. Prices are likely to remain subdued. Reflectingthe trend, cotton on the InterContinental Exchange is quoted lower for delivery in November andDecember compared to near-month contracts Despite the slowing in exports in recent weeks

Date : Thursday, July 24, 2014 URL : www.achiieversequitiesltd.com Page No -

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After reporting a sharp increase in existing home sales in the previous month, the NationalAssociation of Realtors released a report showing that existing home sales once again rose by morethan expected in the month of June. NAR said existing home sales climbed 2.6 percent to a seasonallyadjusted annual rate of 5.04 million in June after jumping 5.4 percent to an upwardly revised 4.91million in May. Economists had been expecting existing home sales to rise to 4.99 million from the4.89 million originally reported for the previous month. With the bigger than expected increase,existing home sales rose to their highest annual rate since reaching 5.13 million in October of 2013.However, NAR noted that existing home sales remain 2.3 percent below the 5.16 million-unit levelseen in the same month a year ago. The report also said total housing inventory rose 2.2 percent to2.30 million existing homes available for sale at the end of June compared to 2.25 million homesavailable for sale at the end of May. The total housing inventory represents 5.5 months of supply atthe current sales pace, unchanged from the previous month.

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