Achiievers Equities' daily commodity report brings to you market round up and daily trading ideas for MCX, NCDEX futures and options. Get technical analysis on gold, silver,Crudeoil and more...

1. Daily Commodity Report as on Thursday, December 04, 2014
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 1

2. Open High Low Close % Cng OI
Precious Metals Market Round up
Gold 26575 26853 26524 26776 1.07 7897
Silver 36958 37380 36710 37040 0.01 8370
Base Metal
Alum. 122.5 122.85 120.85 121.65 -0.29 4107
Copper 399.9 400.8 397.3 398.65 -0.52 14224
Lead 125.3 126.65 125.15 125.45 -0.40 1981
Nickel 1009.5 1035.6 1006.6 1029.7 2.14 3971
Zinc 137.25 137.85 135.8 137.1 0.33 3420
Gold gained after data revealed the U.S. private sector picked up fewer jobs than expected in November, which
sparked a round of bottom fishing.
Silver settled flat as a rise in oil prices provided support, but strength in the dollar and optimism about the U.S.
economy weighed
Crudeoil traded steady and some recovery seen from lower levels on an unexpected draw in U.S. crude oil stocks.
Energy Copper prices edged lower as a broadly stronger U.S. dollar and ongoing concerns over the health of China's
Crude 4214 4235 4158 4187 -0.48 16786
Nat. Gas 238.4 241 234.1 235.3 -1.96 12406
Zinc ended with small gains as major economic indicators released overnight were mixed. Pulses
Chana 26575 26853 26524 26776 1.07 7897
Spices export ban implemented in January
Cardamom 855 858.8 849.1 855.5 -0.26 994
Turmeric 7400 7490 7378 7398 -0.13 14570
Jeera 12390 12560 12300 12520 1.29 6159
economy weighed.
Nickel finished higher on supply concerns, after Indonesia’s Constitutional Court ruled that the country’s mineral ore
Cereals imports and on weak demand.
Wheat 1651 1652 1646 1650 0.06 1080
Mentha oil prices dropped amidst subdued demand from consuming industries in the spot market. Oil and Oilseeds & Others
Soyabean 3300 3327 3296 3308 -0.69 90430
Ref. Oil 581.5 586.45 581.05 584.5 0.29 74225
CPO 431 437.7 430.3 435 0.60 3736
RMSeed 3913 3970 3907 3955 0.94 20840
Menthol 707.9 707.9 691.1 692.9 -1.62 8389
Cotton 15750 15840 15700 15770 0.13 5203
USDINR 62.20 62.27 62.16 62.21 -0.03 2281633
EURINR 77.10 77.15 76.65 76.73 -0.90 51706
GBPINR 97.45 97.48 97.20 97.41 -0.25 33386
JPYINR 52.15 52.28 52.09 52.12 -0.45 19457
Nat.Gas edged lower after updated weather-forecasting models continued to call for mild temperatures.
Ref soyoil ended with gains on some short covering after prices dropped on oversupply woes following robust
Soyabean prices dropped on the higher supply in International market and on weak demand for the bean.
Chana prices ended with losses on ample stocks and weak demand.
Turmeric prices ended with losses on expectations of higher production. Currency
Jeera prices ended with gains as support seen due to rising domestic and export demand in the spot market.
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 2

3. MCX Gold Feb 2015 TRADING IDEA
OPEN 26575 SUP-2 26389 Gold trading range for the day is 26389-27047.
HIGH 26853 SUP-1 26583 Gold gained after data revealed the U.S. private sector picked up fewer jobs than expected
in November, which sparked a round of bottom fishing.
LOW 26524 P.P. 26718 Gains were kept in check by a firmer dollar, which rose to its highest in more than 5-1/2
years against a basket of currencies
CLOSE 26776 RES-1 26912 Gold has been moving in tandem with oil prices recently as the metal is seen as a hedge
against oil-led inflation.
% CNG 1.07 RES-2 27047 SELL GOLD FEB @ 26900 SL 27050 TGT 26760-26600.MCX
Gold settled up 1.07% at 26776 after a slew of some disappointing global economic data, including private sector jobs in the U.S. that rose short of expectations. Investors sought the safe haven appeal of the precious metal
even as the dollar continued to strengthen against a basket of major currencies. In soft data from the U.S., labor productivity rose more than previously estimated in the third quarter, although the upwardly revised increase
came in below expectations. A report from payroll processor ADP showed a notable increase in U.S. private sector employment in November, although the pace of growth in the sector came in short of estimates. From the
eurozone, private sector growth in November was at its weakest in 16 months, slightly less than previously estimated, as new orders declined for the first time in over a year. However, there was some positive news from the
U.S., as service sector activity accelerated more than anticipated in November, with the index of activity rebounding after falling in the two previous months. Gold has been moving in tandem with oil prices recently as the
metal is seen as a hedge against oil-led inflation. The U.S. dollar index climbed to its highest in more than 5-1/2 years on Wednesday on optimism over the economy. A popular exchange-traded fund of gold miners dove
nearly 10 percent in the waning seconds of trading on Wednesday, the latest in a series of unusual moves in single securities on heavy volume this month. Holdings of SPDR Gold Trust, moved up to 720.02 tons on
Wednesday, from its previous close of 717.63 tons. Technically market is getting support at 26583 and below same could see a test of 26389 level, And resistance is now likely to be seen at 26912, a move above could see
prices testing 27047.
MCX Silver Mar 2015 TRADING IDEA
OPEN 36958 SUP-2 36373 Silver trading range for the day is 36373-37713.
HIGH 37380 SUP-1 36706 Silver settled flat as a rise in oil prices provided support, but strength in the dollar and
optimism about the U.S. economy weighed
LOW 36710 P.P. 37043 Payroll processor ADP reported earlier that the U.S. private sector created 208,000 jobs in
November, falling short of expectations
CLOSE 37040 RES-1 37376 Holdings at ishares silver trust dropped by 0.63% i.e. 68.54 tonnes to 10737.66 tonnes
from 10806.20 tonnes.
% CNG 0.01 RES-2 37713 SELL SILVER MAR @ 37450 SL 37700 TGT 37050-36640.MCX
Silver settled at 37040 edged lower as the metal's appeal as a hedge declined with the dollar trading at a 5-1/2-year high against basket of major currencies. Overnight, Gold futures edged higher while Silver remained in the
range on Wednesday despite after data revealed the U.S. private sector picked up fewer jobs than expected in November, which sparked a round of bottom fishing. Bullion has taken a beating in recent months on
expectations for U.S. monetary policy to grow less accommodative and boost demand for the dollar, which tends to trade inversely with the bullion. Payroll processor ADP reported earlier that the U.S. private sector created
208,000 jobs in November, falling short of expectations for jobs growth of 223,000 and down from 233,000 in October. Still, the number topped 200,000, which allayed fears that Friday's official November jobs report may
indicate that the labor market may be softening. The dollar ignored the report, though gold rose after investors found room to snap up nicely-priced positions in the yellow metal on concerns the asset may be oversold.
Elsewhere, the Institute of Supply Management reported earlier said that its non-manufacturing purchasing managers' index rose to 59.3 in November from 57.1 in October. Also the services sector in China continued to
expand at a slightly faster rate in November, the latest data from HSBC Bank revealed on Wednesday, with a PMI score of 53.0, up marginally from 52.9 in October. Technically market is under fresh buying as market has
witnessed gain in open interest by 3.64% to settled at 8370 while prices up 3 rupee, now Silver is getting support at 36706 and below same could see a test of 36373 level, And resistance is now likely to be seen at 37376, a
move above could see prices testing 37713.
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 3

4. MCX Crudeoil Dec 2014 TRADING IDEA
OPEN 4214 SUP-2 4116 Crudeoil trading range for the day is 4116-4270.
HIGH 4235 SUP-1 4151 Crudeoil traded steady and some recovery seen from lower levels on an unexpected draw
in U.S. crude oil stocks.
LOW 4158 P.P. 4193 Selling pressure remained strong in Brent which settled below $70 after a report
suggested Saudi Arabia expected still lower prices for oil.
CLOSE 4187 RES-1 4228 Investors are turning their focus to U.S. jobs data due on Thursday and Friday for clues on
the strength of demand.
% CNG -0.48 RES-2 4270 BUY CRUDE OIL DEC @ 4160 SL 4120 TGT 4220-4280.MCX
Crudeoil settled down -0.48% at 4187 while prices held steady in yesterday's session some recovery seen from lower levels on an unexpected draw in U.S. crude oil stocks, but a global surplus continued to weigh. Overnight,
crude futures recovered from the day's low after data revealed U.S. oil inventories fell last week, defying market calls for an increase, though global supply concerns and a stronger dollar kept gains at bay, sending the
commodity dipping into negative territory at times. A stronger greenback tends to make oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies. The U.S.
EIA said in its weekly report that U.S. crude oil inventories declined by 3.7mbls in the week ending Nov. 28, confounding expectations for an increase of 1.3mbls. Total U.S. crude oil inventories stood at 379.3mbls as of last
week. The report also showed that total motor gasoline inventories increased by 2.1mbls, above expectations for a gain of 1.1 million, while distillate stockpiles rose by 3.0mbls. Oil prices rose on the news, though ongoing
concerns that the world is awash in crude while supply remains soft and output unaffected by conflicts in the Mideast and Eastern Europe capped gains. The OPEC said last week that it would keep its official production target
unchanged at 30mbls a day, disappointing hopes the oil cartel would lower output to support the market. Markets have assumed that Saudi Arabia championed letting prices fall in hopes less cost-effective U.S. shale
producers would halt operations. Technically market is getting support at 4151 and below same could see a test of 4116 level, And resistance is now likely to be seen at 4228, a move above could see prices testing 4270.
MCX Copper Feb 2015 TRADING IDEA
OPEN 399.9 SUP-2 395.4 Copper trading range for the day is 395.4-402.4.
HIGH 400.8 SUP-1 397.0 Copper prices edged lower as a broadly stronger U.S. dollar and ongoing concerns over
the health of China's economy weighed.
LOW 397.3 P.P. 398.9 Official data released earlier showed that China's official non-manufacturing PMI figure
inched up to 53.9 in November
CLOSE 398.7 RES-1 400.5 Chilean copper miner Codelco expects to trim production by 5% next year and sees a
small oversupply persisting.
% CNG -0.52 RES-2 402.4 SELL COPPER FEB @ 400-401 SL ABV 405 TGT 397.20-394. MCX (STBT)
Copper settled down -0.52% at 398.65 edged lower on Wednesday, under pressure from the dollar's strength and uncertainty about demand for industrial metals, although further falls were limited by data showing the
services sector in China grew marginally faster in November. The ADP jobs report released on Wednesday shows that companies in the US added 208,000 workers in November, indicating steady progress in the labor market.
The October increase in employment was revised up from 230,000 to 233,000. The ISM non-manufacturing PMI hit a 8-month high of 59.3 in November, far above the expected 57.5. The Federal Reserve reported in its Beige
Book that US regions recorded broad-based employment gains and that economic activity continued to expand October through November. US consumer spending increased, while the economy benefited from a drop in oil
prices. These encouraging economic indicators helped drive the US dollar index above the 89 mark and contributed to a broad rise in US equities. Economic numbers in the euro zone, in contrast, remained downbeat. The
single currency area’s composite PMI came in at 51.1 in November, shy of expectations and October’s reading. Retail sales in the area edged up 0.4% MoM in October, missing the estimated 0.5% rise. Technically market is
under fresh selling as market has witnessed gain in open interest by 8.53% to settled at 14224 while prices down -2.1 rupee, now Copper is getting support at 397 and below same could see a test of 395.4 level, And
resistance is now likely to be seen at 400.5, a move above could see prices testing 402.4.
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 4

5. MCX Zinc Dec 2014 TRADING IDEA
OPEN 137.3 SUP-2 134.9 Zinc trading range for the day is 134.9-138.9.
HIGH 137.9 SUP-1 136.0 Zinc ended with small gains as major economic indicators released overnight were mixed.
LOW 135.8 P.P. 136.9 The ISM non-manufacturing PMI hit a 8-month high of 59.3 in November, far above the
expected 57.5.
CLOSE 137.1 RES-1 138.0 Zinc daily stocks at Shanghai exchange came down by 782 tonnes.
% CNG 0.33 RES-2 138.9 SELL ZINC DEC @ 138.50 SL 139.50 TGT 137.20-136.20.MCX
Zinc settled up 0.33% at 137.10 traded in the range as major economic indicators released overnight were mixed. While Euro zone PMI in November fell to a 16-month low, depressing market sentiment and pushed down
LME zinc prices to USD 2,191/mt, and closing at USD 2,214/mt, up USD 2/mt or 0.09%. The ADP jobs report released on Wednesday shows that companies in the US added 208,000 workers in November, indicating steady
progress in the labor market. The October increase in employment was revised up from 230,000 to 233,000. The ISM non-manufacturing PMI hit a 8-month high of 59.3 in November, far above the expected 57.5. The
Federal Reserve reported in its Beige Book that US regions recorded broad-based employment gains and that economic activity continued to expand October through November. US consumer spending increased, while the
economy benefited from a drop in oil prices. These encouraging economic indicators helped drive the US dollar index above the 89 mark and contributed to a broad rise in US equities. Today investors should keep an eye on
the European Central Bank (ECB) and Bank of England (BOE)’s December final decisions on interest rate as well as US initial jobless claims for the week ending November 27. Dispiriting economic data in the euro zone and
the tumble in crude oil prices both have boosted expectations of more stimulus measures by the ECB. Technically market is under short covering as market has witnessed drop in open interest by -6.33% to settled at 3420
while prices up 0.45 rupee, now Zinc is getting support at 136 and below same could see a test of 134.9 level, And resistance is now likely to be seen at 138, a move above could see prices testing 138.9.
MCX Nickel Dec 2014 TRADING IDEA
OPEN 1009.5 SUP-2 995.0 Nickel trading range for the day is 995-1053.
HIGH 1035.6 SUP-1 1012.4 Nickel finished higher on supply concerns, after Indonesia’s Constitutional Court ruled that
the country’s mineral ore export ban implemented in January
LOW 1006.6 P.P. 1024.0 Helping to prevent further falls, China's services sector grew marginally faster in
November
CLOSE 1029.7 RES-1 1041.4 A buoyant dollar contributed to a fall in the euro to its weakest level in more than two
years, which put pressure on metals prices.
% CNG 2.14 RES-2 1053.0 BUY NICKEL DEC @ 1026 SL 1010 TGT 1038-1050.MCX
Nickel settled up 2.14% at 1029.70 finished higher on supply concerns, after Indonesia’s Constitutional Court ruled that the county’s mineral ore export ban implemented in January to help develop and supply more
downstream mineral processing was acceptable. Indonesia was a key supplier of high-grade nickel ore to China’s nickel pig iron sector before the mineral ore export ban took effect. While the ADP jobs report released on
Wednesday shows that companies in the US added 208,000 workers in November, indicating steady progress in the labor market. The October increase in employment was revised up from 230,000 to 233,000. The ISM non-manufacturing
PMI hit a 8-month high of 59.3 in November, far above the expected 57.5. The Federal Reserve reported in its Beige Book that US regions recorded broad-based employment gains and that economic activity
continued to expand October through November. US consumer spending increased, while the economy benefited from a drop in oil prices. These encouraging economic indicators helped drive the US dollar index above the 89
mark and contributed to a broad rise in US equities. Now on Thursday, investors should keep an eye on the ECB and BOE’s December final decisions on interest rate as well as US initial jobless claims for the week ending
November 27. Dispiriting economic data in the euro zone and the tumble in crude oil prices both have boosted expectations of more stimulus measures by the ECB. Technically market is under fresh buying as market has
witnessed gain in open interest by 20.66% to settled at 3971 while prices up 21.6 rupee, now Nickel is getting support at 1012.4 and below same could see a test of 995 level, And resistance is now likely to be seen at
1041.4, a move above could see prices testing 1053.
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 5

6. NCDEX Chana Jan 2015 TRADING IDEA
OPEN 3119 SUP-2 3074 Chana trading range for the day is 3074-3146.
HIGH 3132 SUP-1 3088 Chana prices ended with losses on ample stocks and weak demand.
LOW 3096 P.P. 3110 A recovery in sowing in Rajasthan however added to the selling pressure.
CLOSE 3102 RES-1 3124 NCDEX accredited warehouses chana stocks gained by 243 tonnes to 39580 tonnes.
% CNG -0.77 RES-2 3146 BUY CHANA JAN ABV 3115 SL 3080 TGT 3156-3190.NCDEX
Chana settled down by -0.77% at 3102 n ample stocks and weak demand. A recovery in sowing in Rajasthan however added to the selling pressure. Demand from stockists are expected to pick up in coming weeks as
sources indicate current rates are on the lower side. India 2014-15 rabi gram sowing until Nov 21 at 5.46 million hectares as compared to 6.47 million hectare previous year. Area covered under chana is reported to be 4.09
million hectare as compared to 5.30 million hectare last year which is down 22.7% year on year. Lower prices on the back of record output and comfortable supplies 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 for 2014-15 rabi season, down 5.87% compared to previous year. The
4th government advance estimates pegged total pulses output for 2013-14 at 19.27 million ton, up from 18.34 million ton earlier. Agriculture ministry has estimated chana record output at 9.88 million ton up from 8.83
million ton a year ago. Due to delayed rains and lower acreage, the Government has estimated kharif pulses output for 2014-15 at 5.2 million tonnes against 6.02 million tonnes a year ago. Delayed South-West Monsoon
resulted in lower kharif pulses acreage. In Delhi spot market, chana dropped by -7.9 rupee to end at 3057.3 rupee per 100 kgs.Technically market is under fresh selling as market has witnessed gain in open interest by
19.84% to settled at 57260 while prices down -24 rupee, now Chana is getting support at 3088 and below same could see a test of 3074 level, And resistance is now likely to be seen at 3124, a move above could see prices
testing 3146.
NCDEX Turmeric Apr 2015 TRADING IDEA
OPEN 7400 SUP-2 7310 Turmeric trading range for the day is 7310-7534.
HIGH 7490 SUP-1 7354 Turmeric prices ended with losses on expectations of higher production.
LOW 7378 P.P. 7422 As per sources, export demand is expected to recover in December.
CLOSE 7398 RES-1 7466 Lower production possibilities could support the market sentiments in coming weeks.
% CNG -0.13 RES-2 7534 SELL TURMERIC APR BELOW 7380 SL ABV 7500 TGT 7280-7160. NCDEX (STBT)
Turmeric settled down by -0.13% at 7398 on expectations of higher production. As per sources, export demand is expected to recover in December. With falling stocks in mandis, there is possibility of recovery in prices in
coming weeks as exports rise. Lower production possibilities could support the market sentiments in coming weeks. As per the market sources, the total production of turmeric in the current year is expected to be around 35-
37 lakh bags against 52 lakh bags of the last year. This is mainly due to weak production forecast in major producing states such as Andhra Pradesh and Tamilnadu. Spot turmeric prices decreased in Erode markets due to
the arrival of inferior quality turmeric. Many traders were in a quandary whether to buy though they have received some upcountry orders die to the arrival of degraded turmeric. Turmeric prices are a tad compared with last
year price and rates at Erode are almost the same as in Nizamabad, Sangli and other places. Yesterday 2,200 bags arrived for sale and 50 per cent was sold. Traders quoted lower price for all varieties based on quality. At the
Regulated Market Committee, the finger variety traded at Rs. 5,413-6,485 and the root variety at Rs. 5,289-6,000. Of the 613 bags on offer, 419 were traded. In Nizamabad, a major spot market in AP, the price ended at
6331.8 rupees dropped -18.2 rupees.Technically market is under long liquidation as market has witnessed drop in open interest by -0.03% to settled at 14570 while prices down -10 rupee, now Turmeric is getting support at
7354 and below same could see a test of 7310 level, And resistance is now likely to be seen at 7466, a move above could see prices testing 7534.
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 6

7. MCX Menthaoil Dec 2014 TRADING IDEA
OPEN 707.9 SUP-2 680.5 Menthaoil trading range for the day is 680.5-714.1.
HIGH 707.9 SUP-1 686.7 Menthaoil spot is at 788/-. Spot market is down by Rs.5/-.
LOW 691.1 P.P. 697.3 Mentha oil prices dropped amidst subdued demand from consuming industries in the spot
market.
CLOSE 692.9 RES-1 703.5 Besides, ample stock positions in the physical market due to increased arrivals from
Chandausi in Uttar Pradesh too weighed on prices.
% CNG -1.62 RES-2 714.1 BUY MENTHA OIL DEC ABV 700 SL 692 TGT 712-728.MCX
Mentha oil settled down by -1.62% at 692.9 amidst subdued demand from consuming industries in the spot market. Besides, ample stock positions in the physical market due to increased arrivals from Chandausi in Uttar
Pradesh too weighed on prices. However, expectations of lower production from the major producing belts due to lower plantings of the aromatic herb in the past two years, capped some losses in mentha oil prices to some
extent. Range bound trend is noticed in mentha oil even as traders anticipate further fall in rates may be limited at these lower levels. With winter season approaching the export demand and winter season domestic demand
are expected to pick up in the coming few weeks till before Christmas. At Bareilly market total arrivals are at 4 Drums(1-drum-180kg), up by 1 Drums(1-drum-180kg) as compared to previous day. At Rampur market total
arrivals are at 6 Drums(1-drum=180kg), steady as against previous day’s arrival. At Sambhal market estimated market supply was at 70 Drums(1-drum=180kg), higher by 20 Drums(1-drum=180kg) as compared to
previous day. At Barabanki market estimated market supply was at 150 Drums(1-drum-180kg), steady as against previous day’s arrival. As per the Latest reports from Spice Board indicate that for the 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. Technically market is under
fresh selling as market has witnessed gain in open interest by 0.18% to settled at 8389 while prices down -11.4 rupee, now Menthaoil is getting support at 686.7 and below same could see a test of 680.5 level, And
resistance is now likely to be seen at 703.5, a move above could see prices testing 714.1.
COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD
125.5
128.0
127.3
126.5
125.8
125.0
124.3
123.5
1981
DAILY MARKET LEVEL FOR METAL AND ENERGY
CLOSE 26776 37040 4187 235.3 398.65 137.1 1029.7 121.65
27241 38046 4305 246.4 404.0 140.0 1070.4 124.8
27047 37713 4270 243.7 402.4 138.9 1053.0 123.8
26912 37376 4228 239.5
400.5 138.0 1041.4 122.8
136.9 1024.0 121.8
136.0 1012.4 120.8
134.9
995.0 119.8
134.0 983.4 118.8
RESISTANCE
P. POINT 26718 37043 4193 236.8 398.9
SUPPORT 26389 36373 4116 229.9 395.4
26254 36036 4074 225.7 393.5
OI 7897 8370 16786 12406 14224 3420 3971 4107
Positive Positive
0.8
26583 36706 4151 232.6 397.0
TREND Positive Positive Positive Positive Positive Positive Positive
SPREAD 319 629 34.00 1.90 4.15 0.45 6.30
0.45
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 7

8. PREV
NEWS YOU CAN USE DAY TIME ZONE ECONOMICAL DATA EXP
Retail PMI
Challenger Job Cuts y/y
Minimum Bid Rate
ECB Press Conference
Unemployment Claims
FOMC Member Mester Speaks
Natural Gas Storage
2:40pm EUR 0 47
6:00pm USD 0 0.119
6:15pm EUR 0.0005 0.0005
7:00pm EUR 0 0
7:00pm USD 296K 313K
7:00pm USD 0 0
9:00pm USD -51B -162B
11:00pm USD FOMC Member Brainard Speaks
0 0
0
0
0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
8
Chicago-area business activity grew at a notably slower rate in the month of November, according to
a report released by MNI Indicators. MNI Indicators said its Chicago business barometer fell to 60.8 in
November from a one-year high of 66.2 in October. While a reading above 50 indicates continued
growth, economists had expected the barometer to show a more modest decrease to a reading of
63.2. The pullback by the business barometer was partly due to a significant slowdown in the pace of
growth in new orders, as the new orders index tumbled to 61.9 in November after jumping to 73.6 in
October. The production index also dropped to 66.7 in November from 68.4 in October, while the
employment index slid to 54.4 from 60.2. Last Thursday, the Federal Reserve Bank of Philadelphia
released a report showing that its index of manufacturing activity jumped to its highest level in over
twenty years in November.
The services sector in China continued to expand at a slightly faster rate in November, the latest data
from HSBC Bank revealed on Wednesday, with a PMI score of 53.0. That's up fractionally from 52.9 in
October, and it moves further above the boom-or-bust line of 50 that separates expansion from
contraction. The composite index, which also factors in manufacturing data, also continued to
expansion in November - albeit at a slower pace, falling to a six-month low 51.1 from 51.7 in
October. "New business improved while outstanding business contracted further. The labor market
index moderated and price pressures remain subdued. The service sector saw a very marginal
improvement in November, alongside sluggish activity in the manufacturing sector," said Hongbin Qu,
Chief Economist, China & Co-Head of Asian Economic Research at HSBC. Among the individual
components, new order growth at service providers accelerated to a 30-month high, but it remains
modest at manufacturers. There was also a moderate rise in service sector employment, which
contrasts with further job shedding at manufacturing firms. The slower rate of overall activity growth
was largely driven by a renewed decline in manufacturing output in November. It was the first time
that production had fallen in six months, though the rate of reduction was only slight.
0
0
Thu
Activity in the U.S. manufacturing sector grew at a slightly slower rate in the month of November,
according to a report released by the Institute for Supply Management on Monday, although the index
of activity in the sector fell by much less than anticipated. The ISM said its purchasing managers
index edged down to 58.7 in November from 59.0 in October, with a reading above 50 indicating
continued growth in the manufacturing sector. Economists had expected the ISM's manufacturing
index to show a somewhat more substantial decrease to a reading of 57.8. The modest pullback by
the headline index was partly due to a slower rate of production growth, as the production index
dipped to 64.4 in November from 64.8 in October. The employment index also fell to 54.9 in
November from 55.5 in October, indicating a slower rate of job growth in the manufacturing sector.
The ISM also said raw materials prices decreased for the first time since July of 2013, with the prices
index tumbling to 44.5 in November from 53.5 in the previous month. On the other hand, the report
said the new orders index inched up to 66.0 in November from 65.8 in October. The exports index
also climbed to 55.0 from 51.5.
The Cotton Corporation of India (CCI) will procure cotton from farmers in 11 producing states as the
rates have fallen below the minimum support price (MSP) in Andhra Pradesh, Telangana and
Maharashtra, Parliament was informed. CCI has initiated action for procurement of cotton from
growers at MSP in 341 centres located in 92 districts in 11 cotton growing states, he added. CCI is the
government's nodal agency to procure cotton at the MSP, which is currently Rs 4,050/quintal for long
staple. The minister noted that domestic cotton prices depend on a number of factors including
previous balance, current supply, as well as future demand in both domestic and international
markets. The Cotton Advisory Board has pegged the country's total cotton production at over 40
million bales in the 2014-15 crop year, as against 39.8 million bales in 2013-14. One bale contains
170 kg of cotton. Sluggish export demand and anticipated higher domestic production have resulted
in rates falling below MSP in few states.
Sustaining robust demand in international markets , Indian spices registered an export volume of
421,570 tonnes during April-September this year with their value pegged at Rs 6962.86 crore (USD
1152.08 million) as compared to 376,584 tonnes and Rs 6,364.64 crore (USD1073.85 million),
respectively during the corresponding period a year earlier. Chili, mint products, cumin, spice oils &
oleoresins, pepper, turmeric, coriander, curry powder/paste and fenugreek contributed substantially
to spice export basket as the demand for Indian spices surged phenomenally at the global level. Chili
continued to propel the growth story as India's largest exported spice, accounting for 161,000 tonnes
in quantity and Rs 1,547.30 crore in value during April-September 2014. The export grew by 17% in
quantity and 23% in value compared to the corresponding period in 2013. Mint and mint products
(mint oils, menthol and menthol crystals) earned substantial foreign exchange worth Rs 1463.25
crore through exports of 13,300 tonnes, emerging as a major money-spinning commodity in
international spice markets. In terms of volume, chilli was followed by cumin with an export quantity
of 87,500 tonnes that earned a foreign exchange worth Rs 977.5 crore. The figures for the
corresponding period in 2013 stood at 4,901 tonnes and Rs 719.85 crore, respectively. Turmeric too
continued to make great strides with an export volume of 43 00 tonnes which translated into a hefty
Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No -

9. Date : Thursday, December 04, 2014 URL : www.achiieversequitiesltd.com Page No - 9