Intraday analysis on Stock and Commodity Bazaar

INDORE, India - Dec. 12, 2016 - PRLog -- Commodity Bazaar:  Precious metals prices fell to its lowest in 10 months on Friday as the dollar and global equities rose, and was headed for a fifth straight weekly decline on expect of a Federal Reserve interest rate ascend next week.

SPDR Gold Trust GLD, the world's largest gold-backed exchange traded fund, said its holdings stood at 857.45 tones, stay unmoved from past business day.

Precious metals are trading lower on COMEX today. We look forward to prices to trade lower for the day, dragged down by hope that a possible U.S. rate ascend this week would control demand for the safe-haven asset.

Crude oil prices rose about 1 percent on Friday on hope that non-OPEC producers meeting in Vienna over the weekend would agree to output restrictions following limits OPEC confirmed last week to control an oil glut.

Crude oil is trading higher on NYMEX today. We expect prices to trade higher for the day, after OPEC and other producers over the weekend reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up the market.

Stock Market: The market continues to see selling pressure with the Sensex down 144.53 points at 26602.65. The Nifty is down 56.80 points at 8204.95.

Future Tips (https://www.tradeindiaresearch.com/stock-future-premium.php): ONGC, NTPC, Reliance, Sun Pharma and L&T are top gainers while Asian Paints, Tata Motors, Bajaj Auto, Infosys and Hero MotoCorp are losers in the Sensex.

ICICI Bank | SBI | Central Bank of India | Bank of Baroda | Siemens | DLF | Quess Corp | UPL | IRB Infrastructure | Axis Bank | IFCI | Lanco Infratech | Jagran Prakashan | Titagarh Wagons | Maithan Alloys | DB Realty | NMDC and Jaiprakash Power are stocks, which are in the news today.

SBI to sell 3.9% stake in SBI Life Insurance for Rs 1,794 crore

State Bank of India (SBI) has informed BSE that the bank's board at a meeting held on Friday accepted sale of 3.9 percent stake in SBI Life Insurance Company at a price of Rs 460 per share, subject to all regulatory approvals. SBI holds a total stake of 74 percent in SBI Life Insurance.

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