Asian & Metal Stocks Declines before Fed Reserve Meeting

Asian stocks fell for a fourth day, poised for a three-month low, after a gauge of Chinese manufacturing fell and as investors awaited a Federal Reserve meeting starting tomorrow to gauge the timing of stimulus cuts. Asian shares were trading lower ahead of the crucial US Federal Reserve meet. Key benchmark indices in South Korea, Taiwan, Hong Kong, China, Singapore, Japan and Indonesia fell by 0.02% to 1.43%.US stocks closed flat to slightly higher on Friday after a choppy session as investors looked toward a Federal Reserve meeting that could start the curtailment of the Fed's equities-boosting stimulus program.

Metal and mining stocks extended their recent losses as latest economic data showed that growth in China's manufacturing-sector activity slowed to three-month low. China is the world's largest consumer of copper and aluminum. Growth in China's manufacturing-sector activity is slowing to three-month low, initial results from HSBC's monthly survey showed today, 16 December 2013.

•  Jindal Steel & Power (down 2.1%),
• Sail (down 0.07%),
• JSW Steel (down 0.15%),
• Tata Steel (down 0.2%),
• Hindalco Industries (down 1.31%),
• Hindustan Zinc (down 1.21%),
• NMDC (down 1.52%) 
• National Aluminum Company (down 0.13%) and
• Hindustan Copper (down 0.09%) declined

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Today’s Asian Market Health Lower in Early trade – Capital Height

The market breadth, indicating the overall health of the market, was negative. Except BSE Power index, all the other sectoral indices on BSE were in the red. In the foreign exchange market, the rupee edged lower against the dollar on speculation a US budget agreement will boost prospects for the Federal Reserve to start tapering its monetary stimulus for the US economy.

Asian stocks slipped to a four-week low on Thursday, 12 December 2013, on heightened expectations the Federal Reserve may act sooner than later to unwind its stimulus after a provisional budget deal in Washington eased some of the fiscal drag on the US economy.

•           Hong Kong’s Hang Seng was down 0.11 percent or 25.26 points at 23,312.98.

•          Japan’s Nikkei slipped 1.16 percent or 179.67 points at 15,335.39.

•          Singapore’s Straits Times fell 0.33 percent or 10.23 points at 3,050.51.

•          South Korea’s Seoul Composite shed 0.57 percent or 11.23 points at 1,966.74.

•          Taiwan’s Taiwan Weighted declined 0.45 percent or 37.55 points at 8,396.22.

•          China’s Shanghai Composite was flat at 2,206.19.

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Equity Tips-Rupee Hits 4 Months High after State Election Results

Best results of State Election

The Bharatiya Janata Party ( BJP), was the clear winner in three big states according to the poll results of Sunday, with the count close in a fourth. The partially convertible rupee was trading at 61.04/05 per dollar at 0913 am, after hitting as high as 60.84 to the dollar at the open, its strongest level since August 12. It had closed Friday at 61.41/42.

Stock Market Predictions

The market sentiment was boosted by a strong performance of Bharatiya Janata Party (BJP) in assembly elections. The market sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on Friday, 6 December 2013. Gains in Asian stocks also boosted sentiment on the domestic bourses. In the foreign exchange market, the rupee edged higher against the dollar. 

Asian stocks rose on Monday, 9 December 2013, after better-than-forecast growth in US jobs and Chinese exports boosted investor confidence cuts to Federal Reserve stimulus won't derail the global economic recovery. 

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Equity Tips- Latest Indian Stock Market News and Predictions

Indian equity markets opened on a negative note and hovered on the same level till closing session. The indices also witnessed low volume, which indicates that it may continue to trade in the current consolidation phase. Indian rupee fell 8 paise in early trade on Wednesday to 62.43 per dollar as against previous day’s closing of 62.35 per dollar.

Move Ahead Step by Step with Money Capitalheight

Today’s Market Predictions

• SELL PNB (LCP-556.55) BELOW 555 TG-551-545
• SELL AXIS BANK (LCP-1193.75) ABOVE 1190 TG-1180-1165
• SELL SBI (LCP 1813.75) BELOW 1810 TG-1800-1785
• SELL RELIANCE CAPITAL (LCP-383.75) BELOW 382 TG-378-373

 Stocks that are likely to be in action today are - Mahindra Holidays, BHEL, Jyothy Labs, syndicate Bank, Bank of Baroda, Gujarat Pipavav, Reliance communications, GMR InfraIdea Cellular

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Share Market Recommendations about US Dollar and Asian Stocks

U.S. Dollar Index weakened after a November advance that was the biggest in six months, as demand for the safety of the U.S. currency waned before reports that may signal a global manufacturing pickup. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, fell 0.1 percent to 1,019.77 as of 2:15 p.m. in Tokyo after climbing 0.9 percent last month, the most since May.

The rupee rose by 16 paise to 62.28 against the dollar in early trade today at the Interbank Foreign Exchange after the economy grew by a higher-than-expected 4.8 per cent in the September quarter. The market edged higher in early trade as data released by the government after trading hours on Friday, 29 November 2013, showed a recovery in India's GDP growth in Q2 September 2013 from the lowest expansion in four years in Q1 June 2013.

Asian shares kicked off December mixed

•  China's Shanghai Composite index fell 1.65%.
• Hong Kong’s Hang Seng gained 0.74 percent or 176.57 points at 24,057.86.
• Japan’s Nikkei was down 0.18 percent or 28.56 points at 15,633.31.
• Singapore’s Straits Times was up 0.14 percent or 4.54 points at 3,180.89.
• South Korea’s Seoul Composite shed 0.23 percent or 4.76 points at 2,040.11.
• Taiwan’s Taiwan Weighted was up 0.15 percent or 12.24 points at 8,419.07.

 
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