Soyabean on NCDEX settled down by -0.77% at 2822 due to profit booking and lower demand for soymeal in the market. However, some losses were limited on lower sowing along with reports of poor monsoon progress sparked supply shortage.East Madhya Pradesh, which accounts for 60% of total soybean sowing area in the state, reported 9.1mm rainfall which is 39% above normal rainfall.
At the Indore spot market in top producer MP, soybean gained 2 Rupees to 2938 Rupees per 100 kgs. Technically market is under long liquidation as market has witnessed drop in open interest by -3.77% to settled at 73530 while prices down -22 rupees, now Soyabean is getting support at 2807 and below same could see a test of 2792 level, And resistance is now likely to be seen at 2846, a move above could see prices testing 2870.
Mentha Oil on MCX settled up by 0.21% at 893.1 due to short covering on rising demand in the domestic spot market. Further, tight stocks position on restricted supplies from producing regions, too supported mentha oil prices.
Technically Market is under fresh buying as market has witnessed gain in open interest by 6.19% to settled at 2970 while prices up 1.9 rupees, now Menthaoil is getting support at 885.8 and below same could see a test of 878.6 level, And resistance is now likely to be seen at 900, a move above could see prices testing 907.
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ReplyDeleteIn the stock market, market price per share does not correspond to the equity per share calculated in the accounting statements. Equity stock valuations, which are often much higher, are based on other considerations related to the business' operating cash flow, profits and future prospects; some factors are derived from the accounting statement. While accounting equity can potentially be negative, market price per share is always positive since equity shares represent ownership in limited liability companies. The principal of limited liability guarantees that a shareholder's losses may never exceed her investment.
ReplyDeleteStock and commodity market news
Commodity market is very famous market in India, many traders invest their capital in the commodity market, either gold, silver or any other assets. Investor also invest in crude oil, soya oil because of their uniqueness.
ReplyDeleteToday's soya oil price in india is 638 with the change of -4.60 on 17 aug 2017.
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