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Commodity Market Wrapup MCX Outlook Base Metals fall sharply; Short-term outlook weak Base Metals decline sharply in intraday despite Chinese inflation beating expectations in October. Nickel is the worst performer currently losing over three percent to trade at 794.90 whereas Copper is at 440.65, down 4.45 or a percent currently. After the Chinese customs report showing that imports of refined copper dropped on a monthly basis, the government reported that the inflation grew at a steady pace in October beating expectations at 1.9% compared to 1.6% in the previous month. The market seems to have taken this on a negative note as the figures on base metals consumption did not match with the solid growth figures.China has been shifting its growth policies from the commodity-centrist build in the recent months by banning and enforcing policies on base metals import and production. The short-term outlook on base metals remain solid but corrective pr...

Equity tips:- NIFTY :- The Indian equity markets have erased all its early gains and have slipped in the red after reports stated that media reports stated that US warship entered Chinese waters. There were also reports that President Donald Trump discussed a "range of options" with top military advisors to reply to North Korea's hostility and avert it from intimidating the US. Bank Nifty led the decline, as it fell over 1%. PSU banking stocks were the top laggards led SBI and Bank of Baroda. Even private bank majors like ICICI Bank, HDFC Bank and Kotak bank ended with losses. HDFC Bank, Reliance Industries, ITC and Infy were the top contributors to the fall in the Nifty.

Market Wrapup Base Metals fall sharply; Short-term outlook weak Base Metals decline sharply in intraday despite Chinese inflation beating expectations in October. Nickel is the worst performer currently losing. over three percent to trade at 794.90 whereas Copper is at 440.65, down 4.45 or a percent currently. After the Chinese customs report showing that imports of refined copper dropped on a monthly basis, the government reported that the inflation grew at a steady pace in October beating expectations at 1.9% compared to 1.6% in the previous month. The market seems to have taken this on a negative note as the figures on base metals consumption did not match with the solid growth figures. China has been shifting its growth policies from the commodity-centrist build in the recent months by banning and enforcing policies on base metals import and production. The short-term outlook on base metals remain solid but corrective price swings...