The HUL top management gave a hint in July, during the conference call with investors, that the company might go for a price-cut

Shares of Hindustan Unilever (HUL) declined 2 percent on BSE on August 28 amid reports that the company cut prices of some of its soaps by as much as 30 percent in a bid to cope with weak demands amid tough competition.

In July, the largest consumer goods company in the country reduced prices of Lifebuoy, Lux and Dove soaps in order to counter weak demands and tough competition, the daily newspaper Mint reported.

On the other hand, the company increased prices of face-washes for brands such as Fair & Lovely, Ponds, Pears and Dove between 4-14 percent, Mint reported referring to an August 27 report by Kotak Institutional Equities.

Moneycontrol could not independently verify the news.

The HUL top management gave a hint in July, during the conference call with investors, that the company might go for a price-cut as it expected weak commodity prices to continue.

Shares of HUL traded at Rs 1,829.50, down Rs 32.05 or 1.72 percent on BSE around 0955 hours IST.

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A South African high court judge on Friday refused Zambia's state mining company ZCCM leave to appeal a previous ruling halting the sale of Vedanta Resources' majority-owned Konkola Copper Mines (KCM) pending arbitration

Vedanta has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by ZCCM and the rest by Vedanta.

Zambia had accused KCM of breaching the terms of its licence, which Mumbai-listed Vedanta denies.

In July, a South African judge said wind-up proceedings must be immediately withdrawn until a final decision is made following arbitration. Zambia appealed and said it was proceeding with the liquidation.

Judge Leicester Adams said his main reasons for refusing leave to appeal were that ZCCM had raised nothing new and that leave would only be granted when a judge believed it could succeed.

The South African high court is recognised as a court in the context of the International Arbitration Act.

"There are no reasonable prospects of another court coming to different conclusions, be they on aspects of facts or law, to the ones reached by me. The appeal does not, in my judgement, have a reasonable prospect of success," the judge said in his ruling.

Vedanta said it remained committed to engaging with the Zambian government to find an amicable solution.

No-one from the Zambian government could immediately be reached for comment.

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Market downgrades have been dogging rating agency scrips. In the past year, the CARE Ratings Ltd stock tumbled 59%, while Icra Ltd and Crisil Ltd slid 29% each. Comparatively, the Nifty 500 index slipped only 11%. What lies ahead for these stocks

Lately, negative news has dominated the credit rating business, with the top management of two rating agencies asked to step down. Agencies may also need to separate their rating and non-rating businesses.

“While business momentum has been improving, the absence of top management in two large CRAs (credit rating agencies) and the reports of an unbiased rating for IL&FS are negative, in our view. The third CRA might have to comply with the regulations to separate rating and non-rating businesses, affecting stock performances," said Elara Securities (India) Pvt. Ltd in a note to clients.

To top it all, in the bread-and-butter rating segment, growth has slowed to a crawl. Crisil’s rating division grew 2% year-on-year due to a drop in bank-loan ratings and fewer corporate-bond issuances. Icra’s rating revenues dropped 8%, while CARE Ratings’ fell 21%.

Much of the tight liquidity conditions and sluggish issuances may continue to persist. For credit rating agencies, this poses significant challenges. “Bank credit contracted 1.3% in Q1 FY20 as headwinds blasting NBFCs since end-Q2 FY19 impacted the number of bank-loan ratings. The quarter also saw fewer bond issuances, both corporate and financial. Further, ICRA seems to have lost share in the corporate-bond market after a default by a client," said Edelweiss Securities Ltd in a note to clients.

Meanwhile, securitization, which was growing lately, too is slowing. A double whammy to the rating business comes from corporate bodies shying away from incurring significant capital expenditure. Rating revenues could continue to grow marginally.

Additionally, credit rating agencies have been hit by regulatory costs and higher operating expenses that will weigh on operating margins going ahead.

Ostensibly, much hinges on credit offtake reviving. Thankfully, contracting interest rates could spur credit offtake later. But until then, these stocks may take time to see the light at the end of the tunnel.

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India's Reliance Industries is seeking a liquefied natural gas (LNG) cargo for delivery in October, two industry sources said on Friday

The refiner is seeking the cargo on a delivered ex-ship (DES) basis for delivery over Oct. 5 to 14 into Hazira, one of the sources said.

The tender closed on Thursday and it was not immediately clear if it had been awarded.

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Indian shares fell on Thursday as investors fretted over the chances of a fiscal stimulus and anxiously awaited the U.S. Federal Reserve chairman's speech later this week for clues on future rate cuts

Real estate stocks were among the top losers, with the Nifty real estate index shedding 7.2%, its biggest intra-day dip since late 2016, as DLF Ltd slumped 19.6%.

A report in the Hindu BusinessLine newspaper said https://www.thehindubusinessline.com/companies/supreme-court-issues-notice-to-dlf-sebi-on-non-disclosure-of-key-information-in-qip/article29204691.ece the Supreme Court had issued a notice to the real estate developer for allegedly suppressing material information from shareholders.

The broader NSE Nifty was down 0.42% at 10,873.00 as of 0445 GMT, while the benchmark BSE Sensex was lower by 0.34% at 36,933.80.

The minutes of the Fed's July meeting showed policymakers deeply divided over rate cuts, while hopes for a fiscal stimulus dimmed as President Donald Trump said he was not looking at cutting payroll taxes.

Much now depends on how dovish Fed Chair Jerome Powell chooses to be in his speech on Friday.

MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.35%. [MKTS/GLOB]

Meanwhile, markets awaited news on an economic stimulus from the Indian government amid a bruising slowdown that has hammered industries including the crucial automotive sector, leading to production cuts and job losses.

"The disappointment factor is increasing day by day because we've not heard anything from the government," said Rusmik Oza, head of fundamental research at Kotak Securities in Mumbai. "Earnings have also been a big disappointment."

June-quarter net profits for India Inc grew at a moderate pace of 6.6% year-over-year, compared with 24.6% a year earlier, CARE Ratings said on Wednesday, based on an analysis of 2,976 companies.

The Nifty metals index fell 2.13%, with miner Vedanta Ltd declining 3.9%.

The Nifty FMCG index, which tracks manufacturers of fast-moving consumer goods, was the lone gainer with a rise of 1.17%.

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The National Company Law Appellate Tribunal (NCLAT) on Thursday expressed its displeasure over the crisis-hit IL&FS and the government's delay in filing the progress report on the resolution process of the group companies

"In spite of our order dated 12th July 2019 no 'Progress Report' has been filed by Union of India or IL&FS. They are allowed to file the 'Progress Report' by tomorrow (Friday)," said the NCLAT order.

The bench headed by NCLAT Chairperson S.J. Mukhopadhaya further asked the government to settle the claims of all the creditors of the Moradabad-Bareilly Expressway Ltd, the Jharkhand Road Projects Implementation Company, and the West Gujarat Expressway Ltd as per signed 'Term Sheet', before the next hearing on September 5. 

"The Union of India or IL&FS should also give notice to all the financial creditors of rest of the 10 'Amber' entities and take preliminary step by taking their consent in the manner it was followed in the cases of aforesaid three amber entities," it said.

Further, by the next hearing the government and IL&FS would also have to intimate the steps which they intend to take with regard to all the 82 red entities, the bench said.

The new board at IL&FS had classified the IL&FS group companies into three categories -- 'green', 'amber', and 'red' -- on the basis of their ability to service debt obligations to secured and unsecured creditors. Firms classified as "green" would continue to meet their payment obligations, while "amber" category firms can meet only operational payment obligations to secured financial creditors.

Those under the "red" category are the entities which cannot meet their payment obligations at all.

The bench further said that it would be open to the government and ILFS to call for meeting of the lenders and if necessary, the matter can be taken up on day-to-day basis to ensure that the total process with regard to all the amber entities, particularly the aforesaid three companies which IL&FS has decided to reclassify as green entities, is concluded on an early date. 

"They will keep it in mind that already 300 days approx. have completed since the Interim Order was passed on 15th October 2018," the order said. The appellate tribunal directed the government and IL&FS to file a fresh progress report by September 3.

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The Indian civil aviation sector is showing signs of recovery months after the grounding of Jet Airways with domestic air passenger traffic demand grew 7.9 per cent in June, a global airline association said on Thursday

According to the International Air Transport Association (IATA), India's domestic air passenger volume -- measured in revenue passenger kilometres was the third-highest among the major aviation markets such as Australia, Brazil, China, Japan, Russia and the US.

India's domestic RPK in June rose by 7.9 per cent as compared to the corresponding month of the previous year.

In the period under consideration, India's domestic passenger traffic growth was preceded by that of China at 8.3 per cent and Russia at 10.3 per cent.

The country's domestic available passenger capacity measured in available seat kilometres stood higher by 3.1 per cent in June, followed by China at 8.9 per cent and Russia at 9.8 per cent.

"The domestic India market has proven resilient in the face of the demise of Jet Airways earlier in the year," IATA said in its global passenger traffic results for June 2019.

"Growth in domestic RPKs have recovered strongly, lifting to a 7.9 per cent year-on-year pace in June, as the remaining carriers moved quickly to fill the gap created by the loss of a competitor and to meet the customer demand," it added.

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If the index breaks below 10,782 then further decline towards 11,580 and 10,450 levels is possible. Maximum open interest for Put is seen at strike price 10,800

Indian equity markets shrugged off weak global cues immediately after opening lower and witnessed steady gains through the day to touch intraday high of 11,018 on August 6

But, profit booking in the last hour of trade saw the Nifty closing off its high at 10,948, up by 0.79 percent. The broader market indices outperformed the benchmark as BSE Midcap and Smallcap gained 1.4 percent and 1.7 percent, respectively, for the day.

The market breadth on the NSE was positive with eight advancing stocks versus three declining. Following August 5 Hammer candle, the Nifty has formed a bullish engulfing pattern on the daily time frame that suggests buying at lower levels.

However, if the index breaks below 10,782 then it may decline further towards 11,580 and 10,450. In the Nifty weekly options, maximum open interest for Put is seen at strike price 10,800 followed by 10,700; while for Call maximum open interest is seen at 11,200 followed by 11,000. The index bounced back after touching a low of 10,782. If the index crossed and sustained above 11,020, the index could see a pullback towards 11,150-11,200.

India VIX closed for the day at 16.12, down 2.77 percent. VIX is at higher levels after a sharp bounce from lower levels suggesting volatility to continue.

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Domestic net interest margin contracted 10bps sequentially and 29bps YoY to 2.85 percent in the quarter ended June 2019

Indian Bank shares rallied 6.7 percent intraday on August 6 after lower provisions and other income lifted June quarter profitability 75 percent year-on-year, but slippages remain elevated on a sequential basis.

The stock has fallen nearly 50 percent in the last one year, but August 6 gain was in addition to the 3.5 percent upside seen in the previous session. It was quoting at Rs 199.75, up to Rs 9.85, or 5.19 percent, on the BSE at 1049 hours.

Profit in the June quarter increased sharply by 74.6 percent year-on-year to Rs 365.4 crore, but net interest income fell 1.2 percent YoY to Rs 1,785.4 crore due to higher cost of funds and elevated slippages in Q1.

Slippages for June quarter stood at Rs 1,077 crore, rising 7.2 percent sequentially, though declined more than 22 percent year-on-year. Annualised slippage ratio jumped to 2.34 percent in Q1 against 2.14 percent in the previous quarter.

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Private sector thermal power producer Adani Power on Friday said that it has completed the acquisition of GMR Chhattisgarh Energy (GCEL)

According to the company, the acquisition of GCEL has concluded at an enterprise valuation of approximately Rs 3,530 crore.

GCEL owns and operates a 1,370 MW supercritical power plant at Raikheda village in Chhattisgarh's Raipur district.

GCEL presently supplies power to Gujarat under a short term, 1000 MW Case 4 PPA with the Gujarat Urja Vikas Nigam Ltd.

"The addition of 1,370 MW capacity, along with the recently concluded acquisition of the 600 MW Korba West Power Co. Ltd., solidifies APL's position as India's largest private-sector thermal power producer, with aggregate operating capacities of 12,450 MW," the company said in a statement.

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The top gainers from NSE include Hero Moto, IndusInd Bank, YES Bank, Sun Pharma and Grasim Industries while the top losers are Zee Entertainment, Axis Bank, Bharti Infratel, Tech Mahindra and Indiabulls Housing Finance

Indian benchmark indices continue to trade in the red following weak Asian cues with Sensex down 193 points at 37,204 while the Nifty50 is down 69 points at 11,015.

Nifty Realty is down close to 3 percent dragged by Indiabulls Real Estate, DLF, Phoenix Mills, Sobha, Prestige Estates, Godrej Properties and Sunteck Realty.

The IT index is also trading in the red, the top losers were Tech Mahindra which is down over 3 percent followed by Infosys, Tata Consultancy Services and Mindtree.

Nifty Media shed 2 percent in this morning session dragged by Zee Entertainment which shed over 4 percent followed by Eros International Media, PVR, TV Today Network, UFO Moviez, Dish TV and DB Corp.

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Silver futures traded 0.07 percent higher to Rs 41,223 per kg on July 30 after speculators raised bets, driven by a firm trend overseas.

Silver for delivery in September contracts rose by Rs 28, or 0.07 percent, to Rs 41,223 per kg in a business turnover of 17,680 lots on the Multi Commodity Exchange.

Besides, the white metal to be delivered in December contracts surged by Rs 12, or 0.03 percent, to Rs 41,950 per kg in 1,182 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

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The breadth of the market favoured advances, with 964 stocks advancing, 626 declining and 460 remaining unchanged. On BSE, 1128 stocks advanced, 678 declined and 86 remained unchanged.

The Indian stock market continues to remain volatile this Wednesday morning with the Nifty50 down 75 points and is trading at 10,932 while the Sensex is trading lower by 171 points at 36,355.

At 9:40 hrs, the Nifty auto index is down close to 2 percent dragged by Eicher Motors, Bharat Forge, Maruti Suzuki, TVS Motor, Tata Motors and Apollo Tyres.

Infra stocks are also weak, the top losers being Bharti Infratel, Bharti Airtel, Interglobe Aviation, IRB Infra, Larsen & Toubro, Reliance Communications and Tata Communications.

From the private banking space YES Bank jumped 7 percent while on the other hand, ICICI Bank, HDFC Bank, IndusInd Bank and Axis Bank traded lower.

From the BSE smallcap space, IL&FS Engineering along with IL&FS Transport zoomed close to 20 percent followed by Emmbi Industries, Trigyn Technologies and Infibeam.

The top NSE gainers include names like YES Bank, Tech Mahindra, Tata Steel, Cipla and GAIL India.

The top NSE losers are Bharti Infratel, Eicher Motors, UltraTech Cement, Grasim Industries and Maruti Suzuki.

The most active stocks are YES Bank, Dewan Housing Finance, Bandhan Bank, IndusInd Bank and Axis Bank.

Tech Mahindra and Monnet Ispat are few of the stocks which hit new 52-week high this Wednesday morning.

On the other hand, 142 stocks have hit new 52-week low including names like 8K Miles Software, Bombay Dyeing, Eicher Motors, Future Retail, Indiabulls Real Estate, Gammon Infra, Bharti Infratel and Vakrangee among others.

The breadth of the market favoured advances, with 964 stocks advancing, 626 declining and 460 remaining unchanged. On BSE, 1128 stocks advanced, 678 declined and 86 remained unchanged.

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USD-INR pair is expected to quote in the range of 72.05 and 72.50, says Motilal Oswal.

10:35am: Rupee plunged nearly 1 percent intraday Monday, hitting fresh record low of 72.41, down 67 paise, on the back of strong demand for US currency.

10:20am: Rupee continues its freefall, hitting fresh record low of 72.35, down 62 paise from Friday's close of 71.73.

9:40am: Indian currency slipped further to a fresh record low of 72.28 per US dollar.

9:00 am: The Indian rupee opened at a fresh record low of 72.18 per dollar on Monday, down 45 paise from previous close 71.73.

On Friday, rupee consolidated in a narrow range and appreciated marginally against the US dollar, ahead of the important non-farm payrolls number that showed the US economy added 201,000 jobs in August, said Motilal Oswal.

On the other hand, unemployment rate fell to 3.9% in August compared to 3.8% in the previous month. The dollar rose against its major crosses following robust jobs number that strengthened prospects that the Federal Reserve would consider raising twice rate this year.Today, USD-INR pair is expected to quote in the range of 72.05 and 72.50, it added.

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हल्दी वायदा (सितंबर) की कीमतों में 6,400 रुपये तक गिरावट हो सकती है।

महाराष्ट्र और निजामाबाद में भारी बारिश जारी है, लेकिन यह बारिश फसल के लिए काफी लाभकारी है। जीरा वायदा (सितम्बर) की कीमतों के 18,950-19,400 रुपये के दायरे में सीमित दायरे में कारोबार करने की संभावना है। 3 से 10 सितंबर तक गुजरात के प्रमुख बाजारों के बंद रहने के कारण खरीदार और बिक्रेता बाजार में सक्रिय नही हैं। दूसरी ओर चीन की ओर से निर्यात माँग कम है, जबकि स्टॉकिस्ट अधिक कीमतों पर खरीदारी नही करना चाहते हैं, जिससे कीमतों पर दबाव रह सकता है।

इलायची वायदा (अक्टूबर) की कीमतों को 1,440 रुपये के स्तर पर अड़चन रह सकती है और कीमतों की बढ़त पर रोक लगी रह सकती है, क्योंकि सितंबर में दूसरे दौर के फसल की कटाई होगी और ऑक्सन केन्द्रों पर आवक में बढ़ोतरी होगी। सउदी अरब द्वारा आयात पर रोक के कारण अधकि कीमतों पर निर्यात माँग में कमी बनी हुई है। मौजूदा सीजन में अभी तक कुल 2,023 टन इलायची की आवक हुई है और लगभग 1,996 टन इलायची की बिक्री हुई है।

धनिया वायदा (सितंबर) की कीमतों के 4,650-4,850 रुपये के दायरे में कारोबार करने की संभावना है। मध्य प्रदेश के प्रमुख बाजारों में बेहतर आवक और औसत खरीदारी के कारण सामान्य कारोबार हो रहा है। आगामी त्योहारी सीजन के दौरान भारतीय धनिया की माँग में बढ़ोतरी हो सकती है, जिससे कीमतों को मदद मिल सकती है। 

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suggests buying Balrampur Chini with a stop loss of Rs 76 and target of Rs 81, Bosch with a stop loss of Rs 20,900 and target of Rs 22,000 and Cadila Heathcare with a stop loss of Rs 412 and target of Rs 445.

The Nifty50 opened sharply higher but wiped out all gains in afternoon as the rupee breached 72 a dollar for the first time on Thursday. The index managed to rebound in the last couple of hours of trade and closed higher after three-day consecutive fall.

The Nifty hold on to its crucial support placed at 11,500 levels and made a small bullish candle which looked like a 'Hammer' like pattern on daily charts.

The Nifty50 started off day on a strong note at 11,514.15 but volatility caused due to further weakness in rupee pulled the index down to intraday low of 11,436.05. It managed to recoup those losses in later part of the session and hit day's high of 11,562.25 following recovery in currency from all-time low. The index finally closed 59.90 points higher at 11,536.90 but the rupee ended at record closing low of 71.9875, down 23 paise.

India VIX move up by 1.02 percent to 13.79. Pause in the VIX after the sharp spurt of 10 percent indicates some consolidation could be seen with support zones, experts said.

According to Pivot charts, the key support level is placed at 11,461.2, followed by 11,385.5. If the index starts moving upwards, key resistance levels to watch out are 11,587.4 and 11,637.9.

The Nifty Bank index closed at 27,468.70, up 92.65 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,292.34, followed by 27,115.97. On the upside, key resistance levels are placed at 27,598.94, followed by 27,729.17.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns: 

Buy Torrent Power with a stop loss of Rs 260, target of Rs 274

Buy Divis Laboratories with a stop loss of Rs 1300, target of Rs 1365

Buy Granules India with a stop loss of Rs 119, target of Rs 126

Sell Sun TV Network with a stop loss of Rs 705, target of Rs 680

Sell Maruti Suzuki with a stop loss of Rs 8800, target of Rs 8650

Buy Cipla with target at Rs 675 and stop loss at Rs 650

Buy Havells India with target at Rs 700 and stop loss at Rs 660

Buy Reliance Industries with target at Rs 1300 and stop loss at Rs 1228

Sell Idea Cellular with target at Rs 40 and stop loss at Rs 48

Buy Balrampur Chini with a stop loss of Rs 76 and target of Rs 81

Buy Bosch with a stop loss of Rs 20,900 and target of Rs 22,000

Buy Cadila Healthcare with a stop loss of Rs 412 and target of Rs 445

Sell Cholamandalam Investment with a stop loss of Rs 1430 and target of Rs 1350

Buy Cipla above Rs 665 with stop loss of Rs 659 and target of Rs 680

Disclaimer: The views and investment tips expressed by investment experts on CNBC-TV18 are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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On the higher side, call writing at 11,700-11,800 will act as stiff resistance zone for the index and a close above 11,800 will only negate bearish view on indices.

The mounting concern of falling Indian Rupee (INR) against the US Dollar along with the rising bond yields put tremendous pressure on Indices. As a result, Nifty nosedived sharply this week and slipped below 11,400-mark in Wednesday’s session.

Subsequently, Nifty saw a decent pullback and managed to reclaim 11,500-mark on Thursday.

Looking at the daily line chart, the index broke the previous swing high of 11,470 in Wednesday’s session but on a closing basis, it managed to rebound and hold 11,470 which led to decent pullback on Thursday.

Now, the recent swing low of 11,393 will act as an immediate support and a break below 11,393 will pull index lower towards 11,340 – 11,235 levels respectively which is a crucial support zone.

Whereas, on the higher side, 11600 – 11650 will act as a strong resistance in coming trading session. However, in the short-term market outlook remains weak and any pullback move towards 11600-11650 can be used to initiate fresh short positions with immediate targets of 11400 and below that Nifty can correct by another 150-200 points.

On the higher side, call writing at 11700-11800 will act as stiff resistance zone for the index and a close above 11,800 will only negate bearish view on indices.

Here is a list of top three stocks which could give 6-14% return in the next 15-21 sessions:

Tata Motors Ltd: Buy around Rs 270| LTP: Rs 269| Target: Rs 305| Stop Loss: Rs 254| Return 14%

Looking at the daily chart, the stock has formed a strong base near 250 levels and is trading in a narrow range. As a result, it has formed an inverse head & shoulder pattern on the daily chart.

The said pattern will be activated if Tata Motors starts sustaining above 275. The daily Bollinger band has contracted significantly and indicates the period of low volatility.

Considering the above technical evidence, we recommend traders to buy this stock at the current level of 270 with a price target of 305. A Stop loss should be placed at 254 on a closing basis.

Dr Reddy's Laboratories Ltd: Buy around Rs 2580 - 2530| LTP: Rs 2567| Target: Rs 2760| Stop Loss: Rs 2460| Return 7%

On the weekly chart, Dr. Reddy’s has formed a ‘Descending Triangle’ pattern and off late stock breached the upper band of the triangle pattern. The break out of the said pattern was supported by the weekly RSI (14) which entered well inside the 60 levels.

The weekly 9-45 EMA on price has signaled positive crossover which supports our hypothesis. Hence, we advocate traders to buy Dr. Reddy in a range of Rs 2,580 to Rs 2,530 with an upside price target of Rs 2,760. A stop loss should be placed at Rs 2,460.

Jubilant FoodWorks Ltd: Sell Around 1435 - 1450| LTP: Rs 1417| Target: Rs 1330| Stop Loss: Rs 1495| Time frame 15 to 21 trading session| Return 6%

Jubilant FoodWorks has been in a strong uptrend since several months and in that optimism, the stock hit a record high of 1578. Subsequently, it saw profit booking and stock slide below 1400.

Due to the sharp profit booking, the stock broke the upward sloping pattern drawn on the daily chart. Subsequently, stock saw pullback during Thursday’s trading session but the up move got resist near 1450 – 1460 which was a breakdown point of channel pattern.

On the weekly chart, we are seeing complex bearish divergence. Combining the above technical parameters we recommend traders to build a short position in a range of Rs 1435 to Rs 1450 with a price target of Rs 1330. A stop loss should be placed at Rs 1495.

Disclaimer: The author Head of Technical Research, Way2Wealth Brokers Pvt. Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Gold prices rose on Wednesday from an 11-day low as the U.S. dollar eased from its recent rally.

Gold has fallen 1.5 percent from an Aug. 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the dollar, making bullion more expensive for buyers with other currencies.

The greenback slipped on Wednesday after a report that Germany would be ready to accept a less detailed agreement on the UK's future economic and trade ties with the EU in a bid to get a Brexit deal done. That boosted the pound and the euro.

With gold still close to a 1-1/2 year low of $1,159.96 an ounce touched last month, there is little room for prices to fall, Julius Baer analyst Carsten Menke said.

"Gold is showing signs of bottoming," he said.

Spot gold gained 0.5 percent to $1,196.40 per ounce by 1:39 p.m. EDT (1739 GMT), after falling on Tuesday to $1,189.20, the lowest since Aug. 24.

U.S. gold futures for December delivery settled up $2.20, or 0.2 percent, at $1,201.30 per ounce, with the dollar down against a basket of major currencies.

Gold has tumbled more than 12 percent from a peak in April as the dollar rose to 14-month highs and investors turned against the metal.

An 8 percent, or 4.6 million-ounce, drop in the holdings of gold-backed exchange traded funds has also pressured the price of gold since late May, while bets by hedge funds and money managers on lower prices on the Comex exchange exceeded bets on higher prices by the most on record last month.

Such negative positioning means speculators will struggle to push prices much lower, Menke said, adding, however, that without a weaker dollar, gold would find it difficult to rise.

Trade concerns continue to support the greenback, with a deadline looming in the U.S.-China trade dispute and a refusal by Canada to bow to key U.S. demands in its trade talks with Washington.

Technical and momentum indicators were gold-positive, but the technical picture would remain mixed unless gold closes above $1,200.70, ScotiaMocatta analysts said.

"If we could see it break $1,215, that to me would be evidence that the sentiment on gold and the dollar is starting to turn," said Matthew Badiali, senior research analyst at Banyan Hill Research.

Meanwhile, spot silver rose 0.6 percent to $14.16 per ounce after falling to its lowest since January 2016 at $13.97 in the previous session.

Platinum gained 1.1 percent to $784.20 per ounce, while palladium declined 0.7 percent to $973.50 after touching an 11-week high of $988.47 on Tuesday.

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The Cotton Association of India (CAI) and the Bombay Stock Exchange (BSE) Wednesday signed an agreement to develop the futures trading platform for cotton. Under the memorandum of understanding (MoU), CAI and BSE will jointly develop a user-friendly cotton exchange to cater to the hedging needs of the entire cotton value chain in the country, which will be effective for the next five years, an official release said.

The Securities and Exchange Board of India (Sebi) had in December last year announced that from coming October, the country would have a unified exchange regime wherein stock exchanges would be allowed to offer trading in commodities derivatives. BSE is planning to soon launch cotton futures contract, which will benefit the entire cotton sector in the country. CAI president Atul Ganatra said the futures contractwill not only help cotton growers get best price for their produce but also benefit exporters as well as the spinning mills by providing them a platform to hedge, which is now lacking in Indian cotton future market.

Our endeavour will be to push BSE in developing an efficient, user-friendly and economical cotton trading platform, which is within the reach of a common cotton trader," he said. He added that CAI, the parent body of 17 regional associations representing all the cotton growing regions of the country, will also extend its full cooperation to BSE by making available its infrastructure. Further, Ganatra said, CAI had recently decided to set up a farmers training centre at its Cotton Exchange Building, and will spend Rs 1.25 crore on it in the next five years.

Maharashtra Agriculture Price Commission chairman Pashabhai Patel, who was also present on the occasion, said this endeavour will boost the cotton sector and help in its goal to double the farmers' income. "Recently, we had a meeting with the state government where it was decided to take steps that will help in doubling farmers' income. This collaboration will help us achieve this goal," he added.

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हल्दी वायदा (सितंबर) की कीमतों को 6,600 रुपये के नजदीक सहारा रह सकता है और इसमें जवाबी खरीद हो सकती है।

कारोबारियों द्वारा स्थानीय माँग और मसाला कंपनियों की माँग को पूरा करने के लिए खरीदारी के कारण इरोद की मंडियों में हल्दी की फिंगर वेराइटी की कीमतों में बढ़ोतरी हुई है। सभी बाजारों में फिंगर वेराइटी की कीमतों में 150-200 रुपये प्रति क्विंटल की बढ़ोतरी हुई है, जबकि खराब क्वालिटी के कारण रेगुलेटेड मार्केट कमिटी में रूट वेराइटी की कीमतों में 75 रुपये प्रति क्विंटल की गिरावट हुई है।

जीरा वायदा (सितंबर) की कीमतों के 19,000-19,400 रुपये के दायरे में सीमित दायरे में कारोबार करने की संभावना है। 3 से 10 सितंबर तक गुजरात के प्रमुख बाजारों के बंद रहने के कारण खरीदार और बिक्रेता बाजार में सक्रिय नही हैं। दूसरी ओर चीन की ओर से निर्यात माँग कम है, जबकि स्टॉकिस्ट अधिक कीमतों पर खरीदारी नही करना चाहते हैं, जिससे कीमतों पर दबाव रह सकता है।

इलायची वायदा (अक्टूबर) की कीमतों को 1,440 रुपये के स्तर पर रुकावट रह सकती है और कीमतों की बढ़त पर रोक लगी रह सकती है, क्योंकि सितंबर में दूसरे दौर की फसल की कटाई होगी और नीलामी केन्द्रों पर आवक में बढ़ोतरी होगी। सऊदी अरब द्वारा आयात पर रोक के कारण अधिक कीमतों पर निर्यात माँग में कमी बनी हुई है। मौजूदा सीजन में अभी तक कुल 2,023 टन इलायची की आवक हुई है और लगभग 1,996 टन इलायची की बिक्री हुई है।

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